AbbVie Posts Steady 4Q and Offers Slightly Disappointing 2019 Outlook, but Shares Look Undervalued
Along with fourth-quarter results that largely met our expectations and slightly underperformed consensus expectations, AbbVie provided 2019 guidance slightly below our projections. We don't expect any meaningful change in our fair value estimate, however. AbbVie's 2019 guidance for oncology drug Venclexta and endometriosis drug Orilissa is slightly behind our projections, but we continue to expect both drugs will develop into major sales contributors with 2022 sales estimates of $3 billion and ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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