Pfizer (PFE) delivered earnings and revenue surprises of 10.68% and 0.36%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
For two decades AbbVie has aggressively protected its exclusive right to sell the anti-inflammatory drug Humira in the US, enabling it to ratchet up prices and amass an eye-watering $200bn in total sales since the medicine was launched. Amgen said it would offer its biologic treatment, named Amjevita, to US health insurers and middlemen known as pharmacy benefit managers through two pricing plans. Amgen is offering two pricing plans because in the complex US healthcare system — where the real cost of a drug tends to be decided via opaque deals — some pharmacy benefit managers prefer higher list prices because it allows them to negotiate larger rebates from manufacturers.
AbbVie (ABBV) closed at $145.65 in the latest trading session, marking a -0.43% move from the prior day.