AbbVie: More Thank a One-Trick Pony?
As YCharts reported recently, AbbVie (ABBV), the pharmaceutical spinoff from (ABT), has one huge drug, Humira, sales of $9.3 billion last year, and quite a few drugs that are losing sales as patents expire and other factors kick in.
But news this week of another positive test result for an AbbVie Hepatitis C drug holds out hope that the company might soon have another blockbuster to at least partially reduce its reliance on Humira. The news could help AbbVie shares continue a torrid pace, with a year-to-date gain of 30%, as seen in a stock chart.
Hep-C is believed to be a multi-billion-dollar opportunity, so widely suffered is the ailment.
Jeff Bailey, The Editor of YCharts, is a former reporter, editor and columnist at the Wall Street Journal and New York Times. He can be reached at email@example.com.