AbbVie Posts Solid 1Q, With Cancer Drugs and U.S. Humira Sales Offsetting Biosimilar Pressure
AbbVie reported first-quarter results slightly ahead of our expectations, but we don't expect any significant impact to our fair value estimate based on the minor outperformance, and we continue to view the stock as undervalued. With its increasing focus on the erosion of sales from immunology drug Humira, we believe the investment community is not fully appreciating the company's solid pipeline of next-generation immunology drugs. While we expect the Humira biosimilar pressure to increase inter...AbbVie is a research-based biopharmaceutical company. The company's products are focused on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus and human immunodeficiency virus; neurological disorders, such as Parkinson's disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; as well as other serious health conditions. The company also has medicines in clinical development across immunology, oncology and neuroscience, with additional targeted investment in cystic fibrosis and women's health.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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