AbbVie (ABBV) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
AbbVie (NYSE: ABBV) and HotSpot Therapeutics, Inc., a biotechnology company pioneering the discovery and development of small molecule allosteric therapies for the treatment of cancer and autoimmune diseases, today announced an exclusive worldwide collaboration and option to license agreement for HotSpot's discovery-stage IRF5 program for the treatment of autoimmune diseases.
Given the volatility of AbbVie's (NYSE: ABBV) stock over the past year, it's pretty clear that traders are worried about next year's impending Humira patent cliff. Although the way AbbVie is going, an earnings slump is likely to be short-lived. Humira was seen as a blockbuster from the beginning; the rheumatoid arthritis medication brought in $800 million in its first full year of sales in 2003, back when AbbVie was still part of Abbott Laboratories.