AGN - With Solid Fourth Quarter Results AbbVie Shows That Its Growth Days Are Far From Over
Humira has been AbbVie's (NYSE: ABBV) main growth driver for many years, but with the rheumatoid arthritis drug facing stiff competition from biosimilars in Europe, many were quick to write AbbVie's obituary.
Because of Humira's declining prospects in international markets, the pharma giant didn't perform well on the stock market last year, with its shares sliding by almost 4%. For context, the pharmaceutical industry -- as measured by the SPDR S&P Pharmaceuticals ETF Index -- was up by almost 25% last year.
However, AbbVie hasn't said its last words yet, and there's likely still some fuel in the company's growth engine, at least if its latest earnings report is any indication.