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AbbVie Inc. (NYSE: ABBV)

By Investing Daily Analysts on November 4, 2015

Drug company AbbVie Inc. (NYSE: ABBV) is one of the larger industry players, with a market cap of $86 billion and 28,000 employees. Its recent success is due in part to sales of HUMIRA, a treatment for severe, chronic psoriasis.

AbbVie, based in Chicago, expects HUMIRA will continue to drive revenue growth for the remainder of 2015, followed by hepatitis C treatments Viekira Pak and Technivie. However, analysts worry the company will not meet sales expectations in 2017 once the HUMIRA patent expires and it must compete with generic versions of the drug.

In 2015 AbbVie took some flak from the Food and Drug Administration for not using stronger warning labels on Viekira Pak and Technivie, which can cause serious liver damage. This probably contributed to the 25% decrease in the share price from its $75 high in July to about $52 in October 2015, despite the company’s quarterly revenue growth of 11%.

Analysts remained optimistic about AbbVie even after news broke about Viekira Pak and Technivie. This optimism is in part because the company quickly complied with the FDA’s demand to alert doctors about the drug’s risk of liver damage.

With more than 40 drugs in the company’s pipeline, analysts expect AbbVie’s share price to continue rising.

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