AbbVie Inc


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SKU: ABBV Category:


AbbVie has come very close to the target price from our last report as the company delivered an outstanding quarter with adjusted earnings per share of $3.11 well ahead of the management guidance coupled with a 19.3% top-line growth on a comparable operational basis. The recovery across the company portfolio is going very well in aggregate in specific disease areas such as CLL and HCV. The management expects that these specialty areas will further recover as the year progresses. AbbVie was recently in the news for the European Commission granting approval to its JAK inhibitor drug, Rinvoq (upadacitinib) for the treatment of both adults and adolescents with eczema. This could be a significant driver of future growth. Biosimilar competition has already begun to eat into its core drug, Humira’s revenue overseas, but the company is already compensating for it with more than a billion dollars in botox-related revenues from Allergan. Based on their performance in the quarter and continued strong momentum of the business, we believe that the company deserves a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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