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24500.0 | 2020-06-25 00:00:00 UTC | Sosei, AbbVie sign drug discovery deal worth up to $1 bln | ABBV | https://www.nasdaq.com/articles/sosei-abbvie-sign-drug-discovery-deal-worth-up-to-%241-bln-2020-06-25 | nan | nan | Updates size of deal, adds spokesman
June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with AbbVie Inc ABBV.N on a drug discovery partnership that could be worth up to $1 billion.
Sosei shares soared 12.4% in Tokyo trading, compared with a 1.2% slide in the broader market.
The partnership will initially focus on the discovery of novel small molecules, targeting inflammatory and autoimmune diseases, the companies said in a news release on Thursday.
Sosei is eligible to receive up to $32 million in upfront and near-term milestone payments, along with future commercial milestones of up to $377 million, plus tiered royalties on sales.
The companies will work to discover and commercialise medicines that modulate G protein-coupled receptor (GPCR) targets.
Chicago-based AbbVie has the option to expand the collaboration to a total of four targets.
An expansion to four targets would put the total deal size "in a similar ballpark" to deals signed in 2019 with Genentech Inc and Takeda Pharmaceutical Co 4502.T, a Sosei spokesman said.
The Genentech deal is worth up to $1 billion, while the Takeda partnership could total $1.2 billion.
(Reporting by Rocky Swift in Tokyo; editing by Anil D'Silva and Jason Neely)
((rocky.swift@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updates size of deal, adds spokesman June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with AbbVie Inc ABBV.N on a drug discovery partnership that could be worth up to $1 billion. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. The partnership will initially focus on the discovery of novel small molecules, targeting inflammatory and autoimmune diseases, the companies said in a news release on Thursday. | Updates size of deal, adds spokesman June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with AbbVie Inc ABBV.N on a drug discovery partnership that could be worth up to $1 billion. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. An expansion to four targets would put the total deal size "in a similar ballpark" to deals signed in 2019 with Genentech Inc and Takeda Pharmaceutical Co 4502.T, a Sosei spokesman said. | Updates size of deal, adds spokesman June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with AbbVie Inc ABBV.N on a drug discovery partnership that could be worth up to $1 billion. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. An expansion to four targets would put the total deal size "in a similar ballpark" to deals signed in 2019 with Genentech Inc and Takeda Pharmaceutical Co 4502.T, a Sosei spokesman said. | Updates size of deal, adds spokesman June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with AbbVie Inc ABBV.N on a drug discovery partnership that could be worth up to $1 billion. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. Sosei shares soared 12.4% in Tokyo trading, compared with a 1.2% slide in the broader market. |
24501.0 | 2020-06-24 00:00:00 UTC | Japan's Sosei Group signs $377 mln drug discovery deal with Abbvie | ABBV | https://www.nasdaq.com/articles/japans-sosei-group-signs-%24377-mln-drug-discovery-deal-with-abbvie-2020-06-24 | nan | nan | June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with Abbvie Inc ABBV.N on drug discovery in a deal worth up to $377 million, the companies said on Thursday.
Sosei shares climbed 10% in Tokyo trading, compared with a 1% slide in the broader market.
The partnership will initially focus on the discovery of novel small molecules, targeting inflammatory and autoimmune diseases, they said.
Sosei is eligible to receive up to $32 million in upfront and near-term milestone payments, along with future commercial milestones of up to $377 million, plus tiered royalties on sales.
The companies will work to discover and commercialise medicines that modulate G protein-coupled receptor (GPCR) targets. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets.
(Reporting by Rocky Swift in Tokyo; Editing by Anil D'Silva)
((rocky.swift@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with Abbvie Inc ABBV.N on drug discovery in a deal worth up to $377 million, the companies said on Thursday. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. The partnership will initially focus on the discovery of novel small molecules, targeting inflammatory and autoimmune diseases, they said. | June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with Abbvie Inc ABBV.N on drug discovery in a deal worth up to $377 million, the companies said on Thursday. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. Sosei shares climbed 10% in Tokyo trading, compared with a 1% slide in the broader market. | June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with Abbvie Inc ABBV.N on drug discovery in a deal worth up to $377 million, the companies said on Thursday. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. Sosei is eligible to receive up to $32 million in upfront and near-term milestone payments, along with future commercial milestones of up to $377 million, plus tiered royalties on sales. | June 24 (Reuters) - Japan's Sosei Group Corp 4565.T will collaborate with Abbvie Inc ABBV.N on drug discovery in a deal worth up to $377 million, the companies said on Thursday. Chicago-based AbbVie has the option to expand the collaboration to a total of four targets. Sosei shares climbed 10% in Tokyo trading, compared with a 1% slide in the broader market. |
24502.0 | 2020-06-23 00:00:00 UTC | 3 Stocks You Can Keep Forever | ABBV | https://www.nasdaq.com/articles/3-stocks-you-can-keep-forever-2020-06-23 | nan | nan | Warren Buffett has said the best time to sell is never, and though he often doesn't follow his own rules -- as the recent sale of all the airline stocks in his portfolio attests -- it remains a good guide for investors nonetheless.
Finding good companies to invest in at the beginning means we can hold onto them for a lifetime, despite the headwinds they might encounter from time to time. The three stocks below are good candidates for the portion of your portfolio you can buy now and hold onto forever.
Image source: Getty Images.
AbbVie
Two factors have typically informed an investor's decision to buy pharmaceutical giant AbbVie (NYSE: ABBV): its healthy dividend and its arthritis treatment Humira, one of the best-selling drugs of the past two decades.
The annual dividend of $4.72 per share yields 4.9% and remains as safe as ever -- even during the pandemic, when other companies have cut or suspended their dividends, AbbVie's payout remained intact. It has even increased the dividend by more than 130% over the past five years.
Humira has had a long, prosperous run, but even AbbVie realizes the clock is ticking on its exclusivity and it needs to protect itself from over-reliance on the treatment. Its pipeline of therapies remains vibrant, however, and just recently the pharmaceutical announced positive results from its phase 2a clinical study of potential Humira successor ABBV-3373 for the treatment of rheumatoid arthritis, which has been colorfully described as "Humira on steroids (literally)."
AbbVie also just inked a deal with Genmab (NASDAQ: GMAB) for $3.9 billion to jointly develop and market three oncology therapies, indicating the pharma is ready to face the market challenges for decades to come.
3M
3M (NYSE: MMM) gained a lot of national and global prominence during the COVID-19 pandemic because of its production of N95 masks and respirators that were essential protective equipment for healthcare and other front-line workers.
Yet the company that got its start back in 1902 mining minerals for abrasives (3M stands for Minnesota Mining & Manufacturing) now makes products for virtually every industry, from automotive and electronics to construction and consumer products. It's those latter items that most people are probably most familiar with, such as its Post-It Notes, Scotch Brite cleaning pads, and Scotch tape.
The diversity of industries it serves and its global footprint offer investors a bit of downside protection in the event any one business or region falters, though in a global pandemic even that's not enough. Not even making essential PPE nonstop could offset the decline it experienced in its other segments this past quarter.
Still, 3M has been through numerous global calamities and business cycles over the last 120 years, and for that reason it has become an income investor favorite, having raised its dividend every year for over 60 years, making it a part of that rarefied group of companies called Dividend Kings.
There's good reason to believe 3M's broad diversity will continue to serve it and investors well for another lifetime and beyond.
Sysco
During the coronavirus outbreak, food service leader Sysco (NYSE: SYY) learned it had a blind spot in its business: Its laser-like focus on restaurants, educational institutions, and hospitality businesses meant it was at risk if all of those businesses were simultaneously shutdown.
Now, having a global pandemic to suddenly knock virtually the entirety of Sysco's business offline is not something anyone anticipated, but it did open the company's eyes to the fact it needed to expand its field. Sysco and industry peer U.S. Foods (NYSE: USFD) are now looking to break into supplying supermarkets with food.
It won't be easy, as grocery stores already have their own supply chains -- but even the supermarkets found those chains broken at times, and may find having yet another outlet available is a smart decision.
The economy is reopening, so the collapse in business Sysco experienced ought to reverse, particularly as restaurants and other kitchens look to restock after a three-month hiatus.
One thing hasn't changed for Sysco, and that's its dividend, which like 3M's has remained intact for decades as the company has increased the payout for over 50 years. It has returned almost 20,000% to investors over that period, compared to a 2,700% gain for the S&P 500, and it's not unwise to believe its record of outperformance will continue for many more years.
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Rich Duprey owns shares of 3M and Sysco. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Two factors have typically informed an investor's decision to buy pharmaceutical giant AbbVie (NYSE: ABBV): its healthy dividend and its arthritis treatment Humira, one of the best-selling drugs of the past two decades. The annual dividend of $4.72 per share yields 4.9% and remains as safe as ever -- even during the pandemic, when other companies have cut or suspended their dividends, AbbVie's payout remained intact. Humira has had a long, prosperous run, but even AbbVie realizes the clock is ticking on its exclusivity and it needs to protect itself from over-reliance on the treatment. | AbbVie Two factors have typically informed an investor's decision to buy pharmaceutical giant AbbVie (NYSE: ABBV): its healthy dividend and its arthritis treatment Humira, one of the best-selling drugs of the past two decades. The annual dividend of $4.72 per share yields 4.9% and remains as safe as ever -- even during the pandemic, when other companies have cut or suspended their dividends, AbbVie's payout remained intact. Humira has had a long, prosperous run, but even AbbVie realizes the clock is ticking on its exclusivity and it needs to protect itself from over-reliance on the treatment. | AbbVie Two factors have typically informed an investor's decision to buy pharmaceutical giant AbbVie (NYSE: ABBV): its healthy dividend and its arthritis treatment Humira, one of the best-selling drugs of the past two decades. The annual dividend of $4.72 per share yields 4.9% and remains as safe as ever -- even during the pandemic, when other companies have cut or suspended their dividends, AbbVie's payout remained intact. Humira has had a long, prosperous run, but even AbbVie realizes the clock is ticking on its exclusivity and it needs to protect itself from over-reliance on the treatment. | AbbVie Two factors have typically informed an investor's decision to buy pharmaceutical giant AbbVie (NYSE: ABBV): its healthy dividend and its arthritis treatment Humira, one of the best-selling drugs of the past two decades. The annual dividend of $4.72 per share yields 4.9% and remains as safe as ever -- even during the pandemic, when other companies have cut or suspended their dividends, AbbVie's payout remained intact. Humira has had a long, prosperous run, but even AbbVie realizes the clock is ticking on its exclusivity and it needs to protect itself from over-reliance on the treatment. |
24503.0 | 2020-06-23 00:00:00 UTC | AbbVie Says FDA To Review SNDA For IMBRUVICA In Combination With Rituximab - Quick Facts | ABBV | https://www.nasdaq.com/articles/abbvie-says-fda-to-review-snda-for-imbruvica-in-combination-with-rituximab-quick-facts | nan | nan | (RTTNews) - Biopharmaceutical company AbbVie Co. (ABBV) announced Tuesday that the U.S. Food and Drug Administration (FDA) will review a supplemental New Drug Application (sNDA) for IMBRUVICA (ibrutinib) in combination with rituximab for the treatment of Waldenström's macroglobulinemia (WM), a rare and incurable type of non-Hodgkin's lymphoma (NHL).
The application seeks to update the IMBRUVICA U.S. prescribing information based on analysis of more than five years of follow-up data from the Phase 3 iNNOVATE clinical trial.
The National Comprehensive Cancer Network (NCCN) recommends IMBRUVICA, with or without rituximab, as the preferred regimen for patients with WM, including Category 1, Preferred for Primary Therapy for WM.
IMBRUVICA has been used to treat nearly 200,000 patients worldwide across approved indications, including 5,300 patients with WM in the U.S. As of today, IMBRUVICA is the only Bruton's tyrosine kinase (BTK) inhibitor approved to treat WM.
WM typically affects older adults and is primarily found in the bone marrow, although lymph nodes and the spleen may also be affected. In the U.S., there are about 2,800 new cases of WM each year.
IMBRUVICA is a once-daily, first-in-class BTK inhibitor that is administered orally, and is jointly developed and commercialized by Pharmacyclics, LLC, an AbbVie, and Janssen Biotech, Inc. (Janssen).
iNNOVATE (PCYC-1127) is a Pharmacyclics-sponsored, randomized, placebo-controlled, double-blind, Phase 3 study, which enrolled 150 patients with relapsed/refractory and treatment-naïve WM.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Biopharmaceutical company AbbVie Co. (ABBV) announced Tuesday that the U.S. Food and Drug Administration (FDA) will review a supplemental New Drug Application (sNDA) for IMBRUVICA (ibrutinib) in combination with rituximab for the treatment of Waldenström's macroglobulinemia (WM), a rare and incurable type of non-Hodgkin's lymphoma (NHL). IMBRUVICA is a once-daily, first-in-class BTK inhibitor that is administered orally, and is jointly developed and commercialized by Pharmacyclics, LLC, an AbbVie, and Janssen Biotech, Inc. (Janssen). The application seeks to update the IMBRUVICA U.S. prescribing information based on analysis of more than five years of follow-up data from the Phase 3 iNNOVATE clinical trial. | (RTTNews) - Biopharmaceutical company AbbVie Co. (ABBV) announced Tuesday that the U.S. Food and Drug Administration (FDA) will review a supplemental New Drug Application (sNDA) for IMBRUVICA (ibrutinib) in combination with rituximab for the treatment of Waldenström's macroglobulinemia (WM), a rare and incurable type of non-Hodgkin's lymphoma (NHL). IMBRUVICA is a once-daily, first-in-class BTK inhibitor that is administered orally, and is jointly developed and commercialized by Pharmacyclics, LLC, an AbbVie, and Janssen Biotech, Inc. (Janssen). The application seeks to update the IMBRUVICA U.S. prescribing information based on analysis of more than five years of follow-up data from the Phase 3 iNNOVATE clinical trial. | (RTTNews) - Biopharmaceutical company AbbVie Co. (ABBV) announced Tuesday that the U.S. Food and Drug Administration (FDA) will review a supplemental New Drug Application (sNDA) for IMBRUVICA (ibrutinib) in combination with rituximab for the treatment of Waldenström's macroglobulinemia (WM), a rare and incurable type of non-Hodgkin's lymphoma (NHL). IMBRUVICA is a once-daily, first-in-class BTK inhibitor that is administered orally, and is jointly developed and commercialized by Pharmacyclics, LLC, an AbbVie, and Janssen Biotech, Inc. (Janssen). The National Comprehensive Cancer Network (NCCN) recommends IMBRUVICA, with or without rituximab, as the preferred regimen for patients with WM, including Category 1, Preferred for Primary Therapy for WM. | (RTTNews) - Biopharmaceutical company AbbVie Co. (ABBV) announced Tuesday that the U.S. Food and Drug Administration (FDA) will review a supplemental New Drug Application (sNDA) for IMBRUVICA (ibrutinib) in combination with rituximab for the treatment of Waldenström's macroglobulinemia (WM), a rare and incurable type of non-Hodgkin's lymphoma (NHL). IMBRUVICA is a once-daily, first-in-class BTK inhibitor that is administered orally, and is jointly developed and commercialized by Pharmacyclics, LLC, an AbbVie, and Janssen Biotech, Inc. (Janssen). The application seeks to update the IMBRUVICA U.S. prescribing information based on analysis of more than five years of follow-up data from the Phase 3 iNNOVATE clinical trial. |
24504.0 | 2020-06-23 00:00:00 UTC | Meet the Pharma Company That Just Had a Bigger IPO Than Moderna's | ABBV | https://www.nasdaq.com/articles/meet-the-pharma-company-that-just-had-a-bigger-ipo-than-modernas-2020-06-23 | nan | nan | Moderna (NASDAQ: MRNA) set the record for the biggest initial public offering (IPO) in biotech history on Dec. 6, 2018. The biotech raised over $600 million. But while Moderna's IPO was the biggest ever for a biotech, it wasn't the biggest one in the biopharmaceutical industry. That honor belongs to animal health company Zoetis, which conducted an IPO raising $2.2 billion on Jan. 31, 2013 after being spun off from Pfizer.
And now there's another biopharmaceutical IPO that's even bigger than Moderna's. Royalty Pharma (NASDAQ: RPRX) went public on June 16, 2020. The $2.18 billion IPO became the second-largest biopharmaceutical IPO ever and the biggest IPO of 2020 so far. Here's why investors flocked to the drugmaker that made an even bigger initial splash than widely followed Moderna.
Image source: Getty Images.
A long history in a niche market
Royalty Pharma's public shares might be new, but the company isn't. It was founded in 1996 by a group that included CEO Pablo Legorreta. Prior to starting Royalty Pharma, Legorreta worked in the investment banking industry. He also co-founded Pharmakon Advisors in 2009 to provide debt capital to the biopharmaceutical industry.
From the beginning, Royalty Pharma has focused on buying royalties from drug developers ranging from academic institutions to small biotechs to big pharma companies. Although Royalty Pharma hasn't been the only company focused on this niche market, it has been a pioneer in the area and now ranks as the largest buyer of drug royalties.
The company takes a couple of different approaches with its royalty deals. Sometimes it partners with drugmakers to help fund late-stage clinical studies and launches of new products, receiving rights to future royalties of the products in exchange for its upfront capital. In other cases, Royalty Pharma buys royalties for drugs that are already on the market.
Royalty's royalties
You might be surprised at how many well-known drugs for which Royalty Pharma owns royalties. In 1999, the company bought a royalty for Novartis' cystic fibrosis (CF) drug Tobi. Fifteen years later, Royalty Pharma upped its game in the CF market, acquiring the Cystic Fibrosis Foundation's royalties on sales of CF drugs marketed by Vertex Pharmaceuticals, including Kalydeco, Orkambi, and Trikafta.
In 2005, Royalty Pharma bought royalties from Emory University for what eventually became blockbuster HIV drugs marketed by Gilead Sciences. Those HIV drugs include Atripla, Complera, Descovy, Genvoya, Truvada, and Biktarvy, which is on track to become the biggest-selling HIV drug so far.
Speaking of biggest-selling drugs, Royalty Pharma acquired royalties in 2006 from AstraZeneca for Humira. It became the world's No. 1 top-seller for AbbVie. And that wasn't Royalty Pharma's only royalties for a blockbuster immunology drug. In 2007, the company bought royalties from New York University for Remicade, which is marketed by Johnson & Johnson and Merck.
And we've only scratched the surface of Royalty Pharma's impressive lineup. It owns royalties to a long list of other successful products, including Biogen's multiple sclerosis drugs Tecfidera and Tysabri, Merck's diabetes drugs Januvia and Janumet, Pfizer's cancer drugs Ibrance and Xtandi, and Imbruvica, the blockbuster cancer drug marketed by AbbVie and J&J.
An IPO worth chasing?
It's too late for investors to get in Royalty Pharma's big IPO. But is buying the pharma stock a smart move now?
It's important to know that Royalty Pharma's revenue has increased by a compound annual growth rate (CAGR) of only 2.4% over the last four years. However, the company's earnings have soared by a CAGR of 41.8% during the same period -- thanks in large part to provisions related to increased cash flow from Vertex's Trikafta.
But Royalty Pharma faces some challenges in the near future. The company's royalties on Gilead's HIV lineup expire in 2021. Royalties on Januvia and Janumet expire in 2022.
My view is that Royalty Pharma is a stock for investors to keep on their radars but not buy just yet. I'd like to see how some of the drugs linked to some of the company's newer royalty deals, such as Amgen's heart failure therapy omecamtiv mecarbil, fare.
Royalty Pharma might not have a single game-changer like Moderna could have with its COVID-19 vaccine candidate, but it has a lot of diversification across its royalty portfolio. The company deserved its enormously successful IPO.
10 stocks we like better than Royalty Pharma
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Keith Speights owns shares of AbbVie, Gilead Sciences, Pfizer, and Vertex Pharmaceuticals. The Motley Fool owns shares of and recommends Biogen and Gilead Sciences. The Motley Fool owns shares of Zoetis. The Motley Fool recommends Amgen, Johnson & Johnson, and Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 1 top-seller for AbbVie. It owns royalties to a long list of other successful products, including Biogen's multiple sclerosis drugs Tecfidera and Tysabri, Merck's diabetes drugs Januvia and Janumet, Pfizer's cancer drugs Ibrance and Xtandi, and Imbruvica, the blockbuster cancer drug marketed by AbbVie and J&J. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Speights owns shares of AbbVie, Gilead Sciences, Pfizer, and Vertex Pharmaceuticals. | It owns royalties to a long list of other successful products, including Biogen's multiple sclerosis drugs Tecfidera and Tysabri, Merck's diabetes drugs Januvia and Janumet, Pfizer's cancer drugs Ibrance and Xtandi, and Imbruvica, the blockbuster cancer drug marketed by AbbVie and J&J. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Speights owns shares of AbbVie, Gilead Sciences, Pfizer, and Vertex Pharmaceuticals. 1 top-seller for AbbVie. | 1 top-seller for AbbVie. It owns royalties to a long list of other successful products, including Biogen's multiple sclerosis drugs Tecfidera and Tysabri, Merck's diabetes drugs Januvia and Janumet, Pfizer's cancer drugs Ibrance and Xtandi, and Imbruvica, the blockbuster cancer drug marketed by AbbVie and J&J. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Speights owns shares of AbbVie, Gilead Sciences, Pfizer, and Vertex Pharmaceuticals. | See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Speights owns shares of AbbVie, Gilead Sciences, Pfizer, and Vertex Pharmaceuticals. 1 top-seller for AbbVie. It owns royalties to a long list of other successful products, including Biogen's multiple sclerosis drugs Tecfidera and Tysabri, Merck's diabetes drugs Januvia and Janumet, Pfizer's cancer drugs Ibrance and Xtandi, and Imbruvica, the blockbuster cancer drug marketed by AbbVie and J&J. |
24505.0 | 2020-06-22 00:00:00 UTC | Allergan Files SBLA To Extend Use Of BOTOX For Patients 5 To 17 Years Old | ABBV | https://www.nasdaq.com/articles/allergan-files-sbla-to-extend-use-of-botox-for-patients-5-to-17-years-old-2020-06-22 | nan | nan | (RTTNews) - Allergan, an AbbVie (ABBV) company, announced the U.S. FDA has accepted the company's supplemental biologics license application to expand the BOTOX prescribing information for the treatment of signs and symptoms of detrusor overactivity associated with an underlying neurologic condition in pediatric patients who have an inadequate response to, or are intolerant of, or for any reason unwilling to continue anticholinergic medication. The company expects PDUFA date to be in the first quarter of 2021.
BOTOX is the only neurotoxin approved for the treatment of leakage of urine due to overactive bladder caused by a neurologic condition in adults who still have leakage or cannot tolerate the side effects after trying an anticholinergic medication.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Allergan, an AbbVie (ABBV) company, announced the U.S. FDA has accepted the company's supplemental biologics license application to expand the BOTOX prescribing information for the treatment of signs and symptoms of detrusor overactivity associated with an underlying neurologic condition in pediatric patients who have an inadequate response to, or are intolerant of, or for any reason unwilling to continue anticholinergic medication. The company expects PDUFA date to be in the first quarter of 2021. BOTOX is the only neurotoxin approved for the treatment of leakage of urine due to overactive bladder caused by a neurologic condition in adults who still have leakage or cannot tolerate the side effects after trying an anticholinergic medication. | (RTTNews) - Allergan, an AbbVie (ABBV) company, announced the U.S. FDA has accepted the company's supplemental biologics license application to expand the BOTOX prescribing information for the treatment of signs and symptoms of detrusor overactivity associated with an underlying neurologic condition in pediatric patients who have an inadequate response to, or are intolerant of, or for any reason unwilling to continue anticholinergic medication. BOTOX is the only neurotoxin approved for the treatment of leakage of urine due to overactive bladder caused by a neurologic condition in adults who still have leakage or cannot tolerate the side effects after trying an anticholinergic medication. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Allergan, an AbbVie (ABBV) company, announced the U.S. FDA has accepted the company's supplemental biologics license application to expand the BOTOX prescribing information for the treatment of signs and symptoms of detrusor overactivity associated with an underlying neurologic condition in pediatric patients who have an inadequate response to, or are intolerant of, or for any reason unwilling to continue anticholinergic medication. BOTOX is the only neurotoxin approved for the treatment of leakage of urine due to overactive bladder caused by a neurologic condition in adults who still have leakage or cannot tolerate the side effects after trying an anticholinergic medication. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Allergan, an AbbVie (ABBV) company, announced the U.S. FDA has accepted the company's supplemental biologics license application to expand the BOTOX prescribing information for the treatment of signs and symptoms of detrusor overactivity associated with an underlying neurologic condition in pediatric patients who have an inadequate response to, or are intolerant of, or for any reason unwilling to continue anticholinergic medication. The company expects PDUFA date to be in the first quarter of 2021. BOTOX is the only neurotoxin approved for the treatment of leakage of urine due to overactive bladder caused by a neurologic condition in adults who still have leakage or cannot tolerate the side effects after trying an anticholinergic medication. |
24506.0 | 2020-06-19 00:00:00 UTC | FDA Nod For EPZM, RARE, Court Rules In MYL's Favor, Ocuphire To Hop Onto Nasdaq, ALPN Soars | ABBV | https://www.nasdaq.com/articles/fda-nod-for-epzm-rare-court-rules-in-myls-favor-ocuphire-to-hop-onto-nasdaq-alpn-soars | nan | nan | (RTTNews) - Today's Daily Dose brings you news about Alpine Immune's deal with AbbVie; FDA approval of Epizyme's TAZVERIK and Ultragenyx Pharma's Crysvita for new indications; reverse merger between privately-held Ocuphire Pharma and Rexahn Pharma and Court ruling in Biogen's Tecfidera patent suit.
Read on…
1. Alpine Soars On AbbVie Deal
Shares of Alpine Immune Sciences Inc. (ALPN) soared as much as 220 percent in intraday trading on Thursday, following an exclusive worldwide option and license agreement with AbbVie Inc. (ABBV) for ALPN-101.
Alpine Immune's ALPN-101 is a phase II-ready, first-in-class dual CD28/ICOS costimulation antagonist for multiple inflammatory disease indications.
Under the license agreement, Alpine has granted AbbVie an option to license worldwide rights to ALPN-101 and in turn stands to receive $60 million in an upfront cash payment and up to $805 million for the exercise of the option and success-based development, regulatory and commercial milestones. In addition, Alpine is entitled to receive tiered royalties on net sales of ALPN-101.
During the option period, Alpine will conduct a phase II study in systemic lupus erythematosus. Upon exercise of the option, AbbVie will be responsible for all future clinical development, manufacturing, and commercialization activities for ALPN-101.
ALPN touched a new high of $15 in intraday trading on Thursday, before closing at $10.95, up 124.85%.
2. FDA Says 'Yes' To Additional Indication of Epizyme's Tazverik
The FDA has granted accelerated approval for Epizyme Inc.'s (EPZM) TAZVERIK in the additional indication of relapsed/refractory follicular lymphoma.
The accelerated approval granted to TAZVERIK on Thursday is for two indications:
-- Adult patients with relapsed or refractory FL whose tumors are positive for an EZH2 mutation as detected by an FDA-approved test and who have received at least two prior systemic therapies. -- Adult patients with relapsed or refractory FL who have no satisfactory alternative treatment options.
The drug received its initial accelerated approval in the U.S. in January of this year for the treatment of adults and pediatric patients aged 16 years and older with epithelioid sarcoma.
Continued approval for the indications depends upon the positive outcomes in confirmatory trials.
The net sales of TAZVERIK in the U.S. from the first two months of commercialization following its launch on February 1, 2020, were $1.3 million. TAZVERIK could bring in peak sales of over $1 billion in annual sales, according to the Company.
EPZM closed Thursday's trading at $20.46, up 4.82%. In after-hours, the stock dropped 1.27% and was at $20.20.
3. Selecta, Sarepta Enter Into Research License and Option Deal
Selecta Biosciences Inc. (SELB) has granted Sarepta Therapeutics (SRPT) an option to license the rights to develop and commercialize its immune tolerance platform, ImmTOR, for use in Duchenne muscular dystrophy and certain limb-girdle muscular dystrophies under a research license and option agreement between the two companies.
In advance of exercising its option, Sarepta will conduct research and evaluate the utility of ImmTOR to minimize or prevent the formation of neutralizing antibodies (NAb) to adeno-associated virus (AAV) in connection with the administration of Sarepta's DMD and LGMD gene therapy candidates.
Under the terms of the research license and option agreement, Sarepta will make an initial payment to Selecta, and Selecta is eligible to receive certain pre-clinical milestone fees. If Sarepta exercises its options to enter any commercial license agreements, Selecta will be eligible for additional development, regulatory and commercial milestone payments, as well as tiered royalties on net product sales.
Additional financial details are being kept under wraps.
SELB closed Thursday's trading at $2.70, up 7.36%. In after-hours, the stock gained 3.70% to $2.80.
4. Ocuphire To Hop Onto Nasdaq Via Reverse Merger With Rexahn
Rexahn Pharmaceuticals Inc. (REXN) has entered into a merger agreement with privately-held Ocuphire Pharma Inc., under which Ocuphire will merge with a wholly-owned subsidiary of Rexahn in an all-stock transaction.
The transaction, which is expected to close in the second half of 2020, will create a combined company that will operate in the name of Ocuphire Pharma Inc. and will trade on the Nasdaq Capital Market under the ticker symbol "OCUP." The combined company will focus on the advancement of Ocuphire's late-stage pipeline of ophthalmic drug candidates.
Ocuphire's product candidates include Nyxol Eye Drops, a once-daily eye drop formulation of phentolamine mesylate being developed to treat dim light or night vision disturbances, pharmacologically-induced mydriasis, and presbyopia, and APX3330, a twice-a-day oral tablet, designed to target multiple pathways relevant to retinal diseases, such as diabetic retinopathy and diabetic macular edema.
Certain institutional healthcare and accredited Investors have committed $21.15 million in a private placement that will close immediately prior to the closing of the merger, according to Ocuphire.
REXN closed Thursday's trading at $3.50, up 23.24%.
5. Court Rules In Favor Of Mylan In Tecfidera Patent Suit
The U.S. District Court for the Northern District of West Virginia has invalidated Biogen Inc.'s (BIIB) patent covering its multiple sclerosis Tecfidera, clearing the way for Mylan's launch of a generic version of the drug. The patent could have otherwise delayed generic competition until 2028.
According to data science firm IQVIA, sales of Tecfidera in the U.S. for the 12 months ending April 30, 2020, were approximately $3.78 billion.
Mylan believes it is one of the first companies to have sought approval for a generic version of Tecfidera and expects to be eligible for 180 days of marketing exclusivity in the U.S. upon final FDA approval. Mylan's ANDA is pending with the FDA.
MYL closed Thursday's trading at $16.33, up 2.25%. BIIB closed the day's trading at $260.30, down 7.52%.
6. Ultragenyx Pharma's Crysvita Gets FDA Approval For Second Indication
Ultragenyx Pharmaceutical Inc.'s (RARE) Crysvita has received FDA approval for the expanded indication of tumor-induced osteomalacia.
Tumor-Induced Osteomalacia, or TIO, caused by hormone fibroblast growth factor 23 (FGF-23), is characterized by typically small benign tumors that are hard to find or impossible to remove. People with TIO have low blood phosphorus, weak muscles, bone pain, and broken bones.
Discovered by Kyowa Kirin, Crysvita was approved by the FDA in April 2018 to treat adults and children ages 1 year and older with x-linked hypophosphatemia (XLH), a rare, inherited form of rickets.
"The FDA approval of Crysvita marks the first treatment option that addresses the cause of the severe hypophosphatemia and osteomalacia resulting from these rare tumors," said Camille L. Bedrosian, Chief Medical Officer of Ultragenyx.
Crysvita brought in annual revenue of $87.3 million for Ultragenyx in 2019, and the drug is expected to record revenue in the range of $125 million to $140 million this year.
RARE closed Thursday's trading at $72.48, up 1.38%.
7. Stocks That Moved On No News
Aethlon Medical Inc. (AEMD) closed Thursday's trading at $2.67, up 89.36%.
IVERIC bio Inc. (ISEE) closed Thursday's trading at $6.13, up 38.06%.
Ovid Therapeutics Inc. (OVID) closed Thursday's trading at $7.37, up 35.73%.
Millendo Therapeutics, Inc. (MLND) closed Thursday's trading at $2.71, down 17.38%.
Pfenex Inc. (PFNX) closed Thursday's trading at $8.15, down 10.34%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Today's Daily Dose brings you news about Alpine Immune's deal with AbbVie; FDA approval of Epizyme's TAZVERIK and Ultragenyx Pharma's Crysvita for new indications; reverse merger between privately-held Ocuphire Pharma and Rexahn Pharma and Court ruling in Biogen's Tecfidera patent suit. Alpine Soars On AbbVie Deal Shares of Alpine Immune Sciences Inc. (ALPN) soared as much as 220 percent in intraday trading on Thursday, following an exclusive worldwide option and license agreement with AbbVie Inc. (ABBV) for ALPN-101. Under the license agreement, Alpine has granted AbbVie an option to license worldwide rights to ALPN-101 and in turn stands to receive $60 million in an upfront cash payment and up to $805 million for the exercise of the option and success-based development, regulatory and commercial milestones. | (RTTNews) - Today's Daily Dose brings you news about Alpine Immune's deal with AbbVie; FDA approval of Epizyme's TAZVERIK and Ultragenyx Pharma's Crysvita for new indications; reverse merger between privately-held Ocuphire Pharma and Rexahn Pharma and Court ruling in Biogen's Tecfidera patent suit. Alpine Soars On AbbVie Deal Shares of Alpine Immune Sciences Inc. (ALPN) soared as much as 220 percent in intraday trading on Thursday, following an exclusive worldwide option and license agreement with AbbVie Inc. (ABBV) for ALPN-101. Under the license agreement, Alpine has granted AbbVie an option to license worldwide rights to ALPN-101 and in turn stands to receive $60 million in an upfront cash payment and up to $805 million for the exercise of the option and success-based development, regulatory and commercial milestones. | (RTTNews) - Today's Daily Dose brings you news about Alpine Immune's deal with AbbVie; FDA approval of Epizyme's TAZVERIK and Ultragenyx Pharma's Crysvita for new indications; reverse merger between privately-held Ocuphire Pharma and Rexahn Pharma and Court ruling in Biogen's Tecfidera patent suit. Alpine Soars On AbbVie Deal Shares of Alpine Immune Sciences Inc. (ALPN) soared as much as 220 percent in intraday trading on Thursday, following an exclusive worldwide option and license agreement with AbbVie Inc. (ABBV) for ALPN-101. Under the license agreement, Alpine has granted AbbVie an option to license worldwide rights to ALPN-101 and in turn stands to receive $60 million in an upfront cash payment and up to $805 million for the exercise of the option and success-based development, regulatory and commercial milestones. | (RTTNews) - Today's Daily Dose brings you news about Alpine Immune's deal with AbbVie; FDA approval of Epizyme's TAZVERIK and Ultragenyx Pharma's Crysvita for new indications; reverse merger between privately-held Ocuphire Pharma and Rexahn Pharma and Court ruling in Biogen's Tecfidera patent suit. Alpine Soars On AbbVie Deal Shares of Alpine Immune Sciences Inc. (ALPN) soared as much as 220 percent in intraday trading on Thursday, following an exclusive worldwide option and license agreement with AbbVie Inc. (ABBV) for ALPN-101. Under the license agreement, Alpine has granted AbbVie an option to license worldwide rights to ALPN-101 and in turn stands to receive $60 million in an upfront cash payment and up to $805 million for the exercise of the option and success-based development, regulatory and commercial milestones. |
24507.0 | 2020-06-18 00:00:00 UTC | Stock Alert: Alpine Immune Jumps 100% After Inking Deal With AbbVie | ABBV | https://www.nasdaq.com/articles/stock-alert%3A-alpine-immune-jumps-100-after-inking-deal-with-abbvie-2020-06-18 | nan | nan | (RTTNews) - Shares of Alpine Immune Sciences, Inc. (ALPN) more-than-doubled on Thursday morning. The company signed a deal with AbbVie Inc. (ABBV) for the development and commercialization of ALPN-101.
ALPN is currently trading at $10.01, up $5.14 or 105.54%, on the Nasdaq. Alpine Immune Sciences has granted AbbVie option to license worldwide rights to ALPN-101, a phase 2-ready, first-in-class dual CD28/ICOS costimulation antagonist, as part of AbbVie's efforts to develop novel therapies in Immunology.
Alpine will receive $60 million in an upfront cash payment and up to $805 million as milestone payment.
Alpine Immune Sciences will also conduct a phase 2 study in systemic lupus erythematosus during the option period.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alpine Immune Sciences has granted AbbVie option to license worldwide rights to ALPN-101, a phase 2-ready, first-in-class dual CD28/ICOS costimulation antagonist, as part of AbbVie's efforts to develop novel therapies in Immunology. The company signed a deal with AbbVie Inc. (ABBV) for the development and commercialization of ALPN-101. (RTTNews) - Shares of Alpine Immune Sciences, Inc. (ALPN) more-than-doubled on Thursday morning. | Alpine Immune Sciences has granted AbbVie option to license worldwide rights to ALPN-101, a phase 2-ready, first-in-class dual CD28/ICOS costimulation antagonist, as part of AbbVie's efforts to develop novel therapies in Immunology. The company signed a deal with AbbVie Inc. (ABBV) for the development and commercialization of ALPN-101. (RTTNews) - Shares of Alpine Immune Sciences, Inc. (ALPN) more-than-doubled on Thursday morning. | Alpine Immune Sciences has granted AbbVie option to license worldwide rights to ALPN-101, a phase 2-ready, first-in-class dual CD28/ICOS costimulation antagonist, as part of AbbVie's efforts to develop novel therapies in Immunology. The company signed a deal with AbbVie Inc. (ABBV) for the development and commercialization of ALPN-101. Alpine Immune Sciences will also conduct a phase 2 study in systemic lupus erythematosus during the option period. | Alpine Immune Sciences has granted AbbVie option to license worldwide rights to ALPN-101, a phase 2-ready, first-in-class dual CD28/ICOS costimulation antagonist, as part of AbbVie's efforts to develop novel therapies in Immunology. The company signed a deal with AbbVie Inc. (ABBV) for the development and commercialization of ALPN-101. (RTTNews) - Shares of Alpine Immune Sciences, Inc. (ALPN) more-than-doubled on Thursday morning. |
24508.0 | 2020-06-18 00:00:00 UTC | Alpine Immune, AbbVie Enter Into Option And License Deal For ALPN-101 | ABBV | https://www.nasdaq.com/articles/alpine-immune-abbvie-enter-into-option-and-license-deal-for-alpn-101-2020-06-18 | nan | nan | (RTTNews) - Alpine Immune Sciences, Inc. (ALPN), a clinical-stage immunotherapy company, and biopharmaceutical company AbbVie Inc. (ABBV), said Thursday they have entered into an exclusive worldwide option and license agreement for ALPN-101, a first-in-class dual CD28/ICOS costimulation antagonist.
Alpine Immune is focused on developing innovative treatments for cancer and autoimmune/inflammatory diseases.
CD28 and ICOS are key costimulatory molecules that likely play critical roles in multiple autoimmune and inflammatory diseases. ALPN-101 is a potent inhibitor of both CD28 and ICOS pathways with demonstrated efficacy in multiple preclinical disease models, superior to blockade of either pathway alone.
Under the terms of the deal, Alpine will receive an upfront payment of $60 million, and will also be eligible to receive up to a total of $805 million for exercise of the option and success-based development, regulatory and commercial milestones. Further, Alpine is eligible to receive tiered royalties on net sales of ALPN-101.
In exchange, AbbVie will receive an option to an exclusive license for ALPN-101.
During the option period, Alpine will conduct a phase 2 study in systemic lupus erythematosus. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities for ALPN-101.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alpine Immune Sciences, Inc. (ALPN), a clinical-stage immunotherapy company, and biopharmaceutical company AbbVie Inc. (ABBV), said Thursday they have entered into an exclusive worldwide option and license agreement for ALPN-101, a first-in-class dual CD28/ICOS costimulation antagonist. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities for ALPN-101. In exchange, AbbVie will receive an option to an exclusive license for ALPN-101. | In exchange, AbbVie will receive an option to an exclusive license for ALPN-101. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities for ALPN-101. (RTTNews) - Alpine Immune Sciences, Inc. (ALPN), a clinical-stage immunotherapy company, and biopharmaceutical company AbbVie Inc. (ABBV), said Thursday they have entered into an exclusive worldwide option and license agreement for ALPN-101, a first-in-class dual CD28/ICOS costimulation antagonist. | (RTTNews) - Alpine Immune Sciences, Inc. (ALPN), a clinical-stage immunotherapy company, and biopharmaceutical company AbbVie Inc. (ABBV), said Thursday they have entered into an exclusive worldwide option and license agreement for ALPN-101, a first-in-class dual CD28/ICOS costimulation antagonist. In exchange, AbbVie will receive an option to an exclusive license for ALPN-101. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities for ALPN-101. | In exchange, AbbVie will receive an option to an exclusive license for ALPN-101. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities for ALPN-101. (RTTNews) - Alpine Immune Sciences, Inc. (ALPN), a clinical-stage immunotherapy company, and biopharmaceutical company AbbVie Inc. (ABBV), said Thursday they have entered into an exclusive worldwide option and license agreement for ALPN-101, a first-in-class dual CD28/ICOS costimulation antagonist. |
24509.0 | 2020-06-18 00:00:00 UTC | AbbVie's Rinvoq Shows Improvement In Skin Clearance And Itch In Phase 3 Study For Atopic Dermatitis | ABBV | https://www.nasdaq.com/articles/abbvies-rinvoq-shows-improvement-in-skin-clearance-and-itch-in-phase-3-study-for-atopic | nan | nan | (RTTNews) - AbbVie (ABBV) said that Rinvoq or upadacitinib monotherapy shows improvement in skin clearance and itch in first phase 3 study for atopic dermatitis.
The results from a Phase 3 study evaluating Rinvoq in moderate to severe atopic dermatitis in adults and adolescents showed both doses of upadacitinib (15 mg and 30 mg) monotherapy met all primary and secondary endpoints versus placebo.
The company noted that no new safety risks were observed compared to the safety profile observed in patients with rheumatoid arthritis and psoriatic arthritis receiving Rinvoq.
Rinvoq, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is being studied as a once-daily oral therapy for moderate to severe atopic dermatitis and in several other immune-mediated diseases.
Atopic dermatitis is a common, chronic, relapsing, inflammatory skin disease that can manifest as a recurring cycle of itching and scratching leading to painful, cracked skin.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) said that Rinvoq or upadacitinib monotherapy shows improvement in skin clearance and itch in first phase 3 study for atopic dermatitis. Rinvoq, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is being studied as a once-daily oral therapy for moderate to severe atopic dermatitis and in several other immune-mediated diseases. The results from a Phase 3 study evaluating Rinvoq in moderate to severe atopic dermatitis in adults and adolescents showed both doses of upadacitinib (15 mg and 30 mg) monotherapy met all primary and secondary endpoints versus placebo. | (RTTNews) - AbbVie (ABBV) said that Rinvoq or upadacitinib monotherapy shows improvement in skin clearance and itch in first phase 3 study for atopic dermatitis. Rinvoq, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is being studied as a once-daily oral therapy for moderate to severe atopic dermatitis and in several other immune-mediated diseases. The results from a Phase 3 study evaluating Rinvoq in moderate to severe atopic dermatitis in adults and adolescents showed both doses of upadacitinib (15 mg and 30 mg) monotherapy met all primary and secondary endpoints versus placebo. | (RTTNews) - AbbVie (ABBV) said that Rinvoq or upadacitinib monotherapy shows improvement in skin clearance and itch in first phase 3 study for atopic dermatitis. Rinvoq, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is being studied as a once-daily oral therapy for moderate to severe atopic dermatitis and in several other immune-mediated diseases. The results from a Phase 3 study evaluating Rinvoq in moderate to severe atopic dermatitis in adults and adolescents showed both doses of upadacitinib (15 mg and 30 mg) monotherapy met all primary and secondary endpoints versus placebo. | (RTTNews) - AbbVie (ABBV) said that Rinvoq or upadacitinib monotherapy shows improvement in skin clearance and itch in first phase 3 study for atopic dermatitis. Rinvoq, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is being studied as a once-daily oral therapy for moderate to severe atopic dermatitis and in several other immune-mediated diseases. The company noted that no new safety risks were observed compared to the safety profile observed in patients with rheumatoid arthritis and psoriatic arthritis receiving Rinvoq. |
24510.0 | 2020-06-17 00:00:00 UTC | Daily Dividend Report: ORCL,MA,ABBV,TOL,USB | ABBV | https://www.nasdaq.com/articles/daily-dividend-report%3A-orclmaabbvtolusb-2020-06-17 | nan | nan | The Oracle board of directors declared a quarterly cash dividend of $0.24 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 15, 2020, with a payment date of July 28, 2020.
The Mastercard Board of Directors declared a quarterly cash dividend of 40 cents per share. The cash dividend will be paid on August 7, 2020 to holders of record of its Class A common stock and Class B common stock as of July 9, 2020
The board of directors of AbbVie today declared a quarterly cash dividend of $1.18 per share. The cash dividend is payable August 14, 2020 to stockholders of record at the close of business on July 15, 2020. Since the company's inception in 2013, AbbVie has increased its dividend by 195 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
Toll Brothers, the nation's leading builder of luxury homes, today announced that its Board of Directors has approved a quarterly cash dividend to shareholders. The dividend of $0.11 per share will be paid on July 24, 2020 to shareholders of record on the close of business on July 10, 2020.
The Board of Directors of U.S. Bancorp has declared a regular quarterly dividend of $0.42 per common share, payable July 15, 2020, to stockholders of record at the close of business on June 30, 2020. At this quarterly dividend rate, the annual dividend is equivalent to $1.68 per common share.
VIDEO: Daily Dividend Report: ORCL,MA,ABBV,TOL,USB
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The cash dividend will be paid on August 7, 2020 to holders of record of its Class A common stock and Class B common stock as of July 9, 2020 The board of directors of AbbVie today declared a quarterly cash dividend of $1.18 per share. Since the company's inception in 2013, AbbVie has increased its dividend by 195 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years. | The cash dividend will be paid on August 7, 2020 to holders of record of its Class A common stock and Class B common stock as of July 9, 2020 The board of directors of AbbVie today declared a quarterly cash dividend of $1.18 per share. Since the company's inception in 2013, AbbVie has increased its dividend by 195 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years. | The cash dividend will be paid on August 7, 2020 to holders of record of its Class A common stock and Class B common stock as of July 9, 2020 The board of directors of AbbVie today declared a quarterly cash dividend of $1.18 per share. Since the company's inception in 2013, AbbVie has increased its dividend by 195 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years. | The cash dividend will be paid on August 7, 2020 to holders of record of its Class A common stock and Class B common stock as of July 9, 2020 The board of directors of AbbVie today declared a quarterly cash dividend of $1.18 per share. Since the company's inception in 2013, AbbVie has increased its dividend by 195 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years. |
24511.0 | 2020-06-13 00:00:00 UTC | Where Will AbbVie Be in 5 Years? | ABBV | https://www.nasdaq.com/articles/where-will-abbvie-be-in-5-years-2020-06-13 | nan | nan | American biopharma AbbVie (NYSE: ABBV) is renowned for its blockbuster drug, Humira, which was one of the best-selling drugs of the last 20 years. Since its 2013 separation from Abbott Laboratories (NYSE: ABT), AbbVie's stock has grown more than 160%. And with a dividend yield of 4.9%, AbbVie is quite attractive for investors yearning for returns.
But can AbbVie build momentum for growth, given that its best-selling products face a number of new competitors? What are AbbVie's goals for the next five years, and can it meet them? Will the company's mid-2019 acquisition of Allergan for $63 billion pay off? Do experienced investors think AbbVie's stock is worth buying? Let's find out.
Image source: Getty Images.
AbbVie faces slow growth from 2020 to 2021
The remainder of this year and most of next year will probably not be an exciting time for AbbVie, as several of its established products face headwinds that will diminish sales. The company's curative combination drug for hepatitis C, Mavyret, is the poster child for falling revenue growth.
Since well before it got the green light for use in wider patient populations in 2019, Mavyret has been at risk of diminishing its target patient population to the point where the drug combination is not profitable to produce. In short, Mavyret is curing itself into obsolescence. This means that despite eating some of Gilead Sciences' (NASDAQ: GILD) market share for hepatitis C therapeutics in the lead-up to Solvaldi's revenues collapsing in 2017, AbbVie cannot assume that Mavyret will not meet the same unprofitable fate, especially as its sales started to fall in 2018 and then fell sharply by 15% in 2019. While most of the damage to AbbVie's earnings from declining Mavyret revenues is already done, don't be surprised if there is more pain reported in future earnings.
Elsewhere in its stable of approved drugs, Humira's revenues will continue to ebb as a result of competition from biosimilars created after AbbVie's patent expired in 2016. This is to be expected, as Humira has been on the market since 2002 and was one of the best-selling drugs in the U.S. during the 2010s. In total, AbbVie expects its worldwide revenues for Humira to decrease by as much as 30% in 2020, with markets like Europe experiencing 40% decreases. As of 2019, Humira accounted for around 58% of total net revenues, so earnings reports may be especially grisly for a time. Given that AbbVie has already repeatedly sought and received additional indications for Humira as recently as 2015, it's likely that the drug's earning growth potential will be largely exhausted soon. In summary, AbbVie will need to launch a credible replacement for its declining revenues from Humira in the next five years if it wants to stay stable, never mind continuing to grow.
In terms of the opportunities in the COVID-19 pandemic, it's possible that AbbVie's role in fighting COVID-19 is smaller than that of its competitors. While AbbVie announced last week that it was initiating a new program to develop a monoclonal antibody therapy for COVID-19, it's a relative latecomer to the scene compared to its peers like Pfizer (NYSE: PFE), which plans to have products hitting the market as early as October.
Furthermore, AbbVie's existing roster of antiviral drugs may not generate substantial revenues even if they are found to be effective for COVID-19. In the aftermath of the Israeli government mandating compulsory licensure of AbbVie's anti-HIV drug Kaletra, the company opted to drop its worldwide patent rights for the drug entirely. Later, researchers reported that Kaletra wasn't effective for COVID-19 anyway. If AbbVie does have a role in developing COVID-19 therapeutics or vaccines, it will likely be as a secondary collaborator rather than a leader.
Image Source: YCharts
Will AbbVie's pipeline come to the rescue?
The only way for AbbVie to escape the doldrums will be to forge new collaborations and advance its pipeline programs to build new centers of growth.
Now that it has joined with Allergan, AbbVie has more than 120 pipeline programs, many of which are seeking approval for new indications for its existing drug stable. More than 60 of these programs are in mid- or late clinical trial stages, suggesting that AbbVie has no shortage of candidates to bring to the market in the long term. Of particular promise is the company's first-line treatment for multiple myeloma, Empliciti. If the drug successfully completes its ongoing phase 3 trials, it will be positioned to grab market share from long-entrenched competing products.
Some programs, like the treatment-resistant rheumatoid arthritis drug Rinvoq, are already approved for major indications, so it is reasonable to expect that revenues will continue to ramp up as new indications are added. AbbVie is also pursuing head-to-head comparison trials with competing products so as to take their market share, which may soon start to pay off for its newest drugs.
AbbVie in 2025
AbbVie's next five years will largely be characterized by the company working to transition smoothly from its former high-earning drugs to the revenue sources of tomorrow. To aid the process, it's possible that AbbVie will seek to acquire smaller companies to shore up its clinical-stage pipeline. Before it can make more acquisitions, however, AbbVie will prioritize integrating its resources procured from Allergan, which it purchased for cash and stock in 2019 for $63 billion.
Allergan is known for manufacturing the popular wrinkle-reducer Botox, but it also has a small roster of medical cosmetic products and eye care products both on the market and in active development. While Allergan's pipeline and products on the market do not overlap with AbbVie's current roster, the purchase does give AbbVie a much broader pipeline than it previously had and will also lead to an estimated $2 billion in synergies and cost savings by the third year after the closure of the deal.
AbbVie estimates that purchasing Allergan will lead to an immediate increase of its cashflows by as much as $19 billion. Nonetheless, the market did not initially recieve AbbVie's announcement of the purchase favorably. Once AbbVie's quarterly earnings reports reflect the earnings growth from Allergan's product roster, investors may change their tune.
As part of the Allergan acquisition, AbbVie sought transaction support from Morgan Stanley, which fully underwrote the deal for $38 billion. Subsequently, AbbVie also took on all $24 billion of Allergan's debts, leaving AbbVie with upwards of $67 billion in total debt. AbbVie's leadership claims that the additional revenues from Allergan's products will allow the company to reduce its debt by at least $15 billion by the end of 2021, with further payments throughout 2023 if everything goes as planned.
By 2025, AbbVie will have at least one wholly new drug on the market as well as a handful of newly approved indications for its older drugs. Given the state of the company's pipeline, it is highly likely that the new drug or drugs will compete in the oncology or immunology markets. While it remains unclear whether any of these new drugs have the same blockbuster potential as AbbVie's historical standbys, they will almost certainly allow the company to continue operating profitably and to grow at a slow rate. Nonetheless, AbbVie will also be experiencing tapering revenue growth for the indications it sought in the 2010s for its existing drugs. Likewise, long-standing products like Humira will be of declining importance, with fierce competition largely displacing it from the market.
In summary, AbbVie's next five years may be relatively low-growth, but its long-term growth prospects are still quite favorable, and the company's stable dividend is a good reason to invest. Look to AbbVie's yearly reports to see how effectively the company is handling its transitioning revenue sources, and don't be afraid to hold off on investing in this pharmaceutical stock if there are major delays with its most advanced pipeline projects.
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Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This means that despite eating some of Gilead Sciences' (NASDAQ: GILD) market share for hepatitis C therapeutics in the lead-up to Solvaldi's revenues collapsing in 2017, AbbVie cannot assume that Mavyret will not meet the same unprofitable fate, especially as its sales started to fall in 2018 and then fell sharply by 15% in 2019. While AbbVie announced last week that it was initiating a new program to develop a monoclonal antibody therapy for COVID-19, it's a relative latecomer to the scene compared to its peers like Pfizer (NYSE: PFE), which plans to have products hitting the market as early as October. Look to AbbVie's yearly reports to see how effectively the company is handling its transitioning revenue sources, and don't be afraid to hold off on investing in this pharmaceutical stock if there are major delays with its most advanced pipeline projects. | This means that despite eating some of Gilead Sciences' (NASDAQ: GILD) market share for hepatitis C therapeutics in the lead-up to Solvaldi's revenues collapsing in 2017, AbbVie cannot assume that Mavyret will not meet the same unprofitable fate, especially as its sales started to fall in 2018 and then fell sharply by 15% in 2019. In total, AbbVie expects its worldwide revenues for Humira to decrease by as much as 30% in 2020, with markets like Europe experiencing 40% decreases. Once AbbVie's quarterly earnings reports reflect the earnings growth from Allergan's product roster, investors may change their tune. | AbbVie faces slow growth from 2020 to 2021 The remainder of this year and most of next year will probably not be an exciting time for AbbVie, as several of its established products face headwinds that will diminish sales. AbbVie in 2025 AbbVie's next five years will largely be characterized by the company working to transition smoothly from its former high-earning drugs to the revenue sources of tomorrow. While Allergan's pipeline and products on the market do not overlap with AbbVie's current roster, the purchase does give AbbVie a much broader pipeline than it previously had and will also lead to an estimated $2 billion in synergies and cost savings by the third year after the closure of the deal. | Now that it has joined with Allergan, AbbVie has more than 120 pipeline programs, many of which are seeking approval for new indications for its existing drug stable. American biopharma AbbVie (NYSE: ABBV) is renowned for its blockbuster drug, Humira, which was one of the best-selling drugs of the last 20 years. Since its 2013 separation from Abbott Laboratories (NYSE: ABT), AbbVie's stock has grown more than 160%. |
24512.0 | 2020-06-11 00:00:00 UTC | AbbVie (ABBV) Shares Cross 5% Yield Mark | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-shares-cross-5-yield-mark-2020-06-11 | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, in trading on Thursday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 5% mark based on its quarterly dividend (annualized to $4.72), with the stock changing hands as low as $92.46 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return. To illustrate, suppose for example you purchased shares of the S&P 500 ETF (SPY) back on 12/31/1999 — you would have paid $146.88 per share. Fast forward to 12/31/2012 and each share was worth $142.41 on that date, a decrease of $4.67/share over all those years. But now consider that you collected a whopping $25.98 per share in dividends over the same period, for a positive total return of 23.36%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.6%; so by comparison collecting a yield above 5% would appear considerably attractive if that yield is sustainable. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 5% annual yield.
ABBV has been growing its dividend for more than 20 years consecutively. For more dividend growth stocks view our Dividend Aristocrats List on Dividend Channel.
Click here to find out which 9 other dividend stocks just recently went on sale »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Thursday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 5% mark based on its quarterly dividend (annualized to $4.72), with the stock changing hands as low as $92.46 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 5% annual yield. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Thursday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 5% mark based on its quarterly dividend (annualized to $4.72), with the stock changing hands as low as $92.46 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 5% annual yield. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Thursday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 5% mark based on its quarterly dividend (annualized to $4.72), with the stock changing hands as low as $92.46 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 5% annual yield. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Thursday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 5% mark based on its quarterly dividend (annualized to $4.72), with the stock changing hands as low as $92.46 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 5% annual yield. |
24513.0 | 2020-06-11 00:00:00 UTC | 3 Wins for AbbVie in 3 Days Provide 3 More Good Reasons to Buy the Pharma Stock | ABBV | https://www.nasdaq.com/articles/3-wins-for-abbvie-in-3-days-provide-3-more-good-reasons-to-buy-the-pharma-stock-2020-06-11 | nan | nan | They say that good things come in threes. And that just might be true for AbbVie (NYSE: ABBV).
The big drugmaker started off the week by receiving good news on Monday. It then announced two positive developments on Wednesday, just in time for the company's top executives to participate in a virtual fireside chat at the Goldman Sachs annual healthcare conference.
Here are the three wins for AbbVie in three days that provide three more good reasons to buy the pharma stock.
Image source: Getty Images.
1. Key legal win for Humira
AbbVie has known for a long time that its days of patent exclusivity for Humira were limited. To forestall the inevitable revenue decline for its top-selling drug, the company built up as many patents for Humira as it could in an effort to hold off U.S. biosimilar competition as long as possible.
As you might expect, this strategy didn't make everyone happy. A class-action lawsuit was brought against AbbVie alleging that the company engaged in practices that violated U.S. antitrust laws. But on Monday, a federal judge ruled in favor of AbbVie, finding that the drugmaker "has exploited advantages conferred on it through lawful practices."
This decision basically means that AbbVie's strategy of preserving U.S. market share for Humira for a few more years is intact. Humira already faces biosimilar rivals in Europe, and will do so in the U.S. beginning in 2023. In the meantime, the drug should continue to rake in billions of dollars for AbbVie.
2. Encouraging results for ABBV-3373
On Wednesday, AbbVie announced positive results from its phase 2a clinical study evaluating ABBV-3373 in treating rheumatoid arthritis. While it might not seem like it on the surface, this was more good news for Humira.
ABBV-3373 is, as my Fool.com colleague Brian Orelli aptly described it, "Humira on steroids (literally)." It's a new type of antibody-drug conjugate that combines Humira with a glucocorticoid receptor modulator (GRM) steroid. And ABBV-3373 appears to be even more effective at treating rheumatoid arthritis than Humira is.
AbbVie now plans to advance ABBV-3373 into larger clinical studies in rheumatoid arthritis, and to explore the use of the antibody-drug conjugate in treating other immune-mediated diseases. If further clinical testing is successful, ABBV-3373 just might mean that Humira (on steroids) continues to make a lot of money for AbbVie well beyond 2023.
3. A big oncology deal
The other major news announced by AbbVie on Wednesday was its $3.9 billion oncology deal with Genmab (NASDAQ: GMAB). AbbVie and Genmab agreed to jointly develop and market three of Genmab's bispecific antibody candidates, and collaborate on discovery research related to other antibodies targeting cancer.
The bispecific antibody candidates that especially attracted AbbVie's interest are epcoritamab, DuoHexaBody-CD37 and DuoBody-CD3x5T4. AbbVie vice chairman and president Michael Severino especially singled out epcoritamab, stating that it "is a strong fit" with the company's successful blood-cancer drugs Imbruvica and Venclexta.
Some might think that AbbVie could be late to the party in the bispecific antibody space. Genmab is behind Regeneron Pharmaceuticals and Roche Holding in terms of clinical progress. However, Severino said at the Goldman Sachs conference that epcoritamab holds the potential for best-in-class efficacy and a strong safety profile that could translate to "winning advantages."
Bispecific antibodies could very well represent a big market over the next several years. With its Genmab deal, AbbVie has taken steps to avoid being left out of that market. That should be good news for shareholders over the long run.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie vice chairman and president Michael Severino especially singled out epcoritamab, stating that it "is a strong fit" with the company's successful blood-cancer drugs Imbruvica and Venclexta. And that just might be true for AbbVie (NYSE: ABBV). Here are the three wins for AbbVie in three days that provide three more good reasons to buy the pharma stock. | Encouraging results for ABBV-3373 On Wednesday, AbbVie announced positive results from its phase 2a clinical study evaluating ABBV-3373 in treating rheumatoid arthritis. A big oncology deal The other major news announced by AbbVie on Wednesday was its $3.9 billion oncology deal with Genmab (NASDAQ: GMAB). AbbVie and Genmab agreed to jointly develop and market three of Genmab's bispecific antibody candidates, and collaborate on discovery research related to other antibodies targeting cancer. | Key legal win for Humira AbbVie has known for a long time that its days of patent exclusivity for Humira were limited. A big oncology deal The other major news announced by AbbVie on Wednesday was its $3.9 billion oncology deal with Genmab (NASDAQ: GMAB). AbbVie and Genmab agreed to jointly develop and market three of Genmab's bispecific antibody candidates, and collaborate on discovery research related to other antibodies targeting cancer. | If further clinical testing is successful, ABBV-3373 just might mean that Humira (on steroids) continues to make a lot of money for AbbVie well beyond 2023. AbbVie and Genmab agreed to jointly develop and market three of Genmab's bispecific antibody candidates, and collaborate on discovery research related to other antibodies targeting cancer. And that just might be true for AbbVie (NYSE: ABBV). |
24514.0 | 2020-06-10 00:00:00 UTC | AbbVie To Present At Virtual Goldman Sachs Global Healthcare Conference; Webcast At 10:30 AM ET | ABBV | https://www.nasdaq.com/articles/abbvie-to-present-at-virtual-goldman-sachs-global-healthcare-conference-webcast-at-10%3A30 | nan | nan | (RTTNews) - AbbVie (ABBV) will participate in the virtual Goldman Sachs 41st Annual Global Healthcare Conference.
The event is scheduled to begin at 10:30 AM ET on June 10, 2020.
To access the live webcast, log on to http://investors.abbvie.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will participate in the virtual Goldman Sachs 41st Annual Global Healthcare Conference. To access the live webcast, log on to http://investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The event is scheduled to begin at 10:30 AM ET on June 10, 2020. | (RTTNews) - AbbVie (ABBV) will participate in the virtual Goldman Sachs 41st Annual Global Healthcare Conference. To access the live webcast, log on to http://investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The event is scheduled to begin at 10:30 AM ET on June 10, 2020. | (RTTNews) - AbbVie (ABBV) will participate in the virtual Goldman Sachs 41st Annual Global Healthcare Conference. To access the live webcast, log on to http://investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The event is scheduled to begin at 10:30 AM ET on June 10, 2020. | (RTTNews) - AbbVie (ABBV) will participate in the virtual Goldman Sachs 41st Annual Global Healthcare Conference. To access the live webcast, log on to http://investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The event is scheduled to begin at 10:30 AM ET on June 10, 2020. |
24515.0 | 2020-06-10 00:00:00 UTC | Insiders Were Right: ABBV Makes New 52-Week High | ABBV | https://www.nasdaq.com/articles/insiders-were-right%3A-abbv-makes-new-52-week-high-2020-06-10 | nan | nan | In trading on Wednesday, shares of AbbVie Inc (Symbol: ABBV) touched a new 52-week high of $98.77/share. That's a 57.91% rise, or $36.22 per share from the 52-week low of $62.55 set back on 03/23/2020. That means at today's intraday high, any investor who purchased ABBV stock any time over the past 52 weeks has an unrealized gain, including company insiders.
Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, ABBV has seen 2 different instances of insiders buying over the trailing six month period.
PURCHASED INSIDER TITLE SHARES PRICE/SHARE VALUE
03/03/2020 Edward J. Rapp Director 2,875 $87.87 $252,617.05
03/20/2020 Brian L. Durkin VP, Controller 3,750 $68.20 $255,754.80
03/20/2020 Brian L. Durkin VP, Controller 1,550 $69.00 $106,950.00
The chart below shows where ABBV has traded over the past year, with the 50-day and 200-day moving averages included.
In afternoon trading on Wednesday, ABBV shares are changing hands at $98.58/share, slightly below the new 52-week high.
Ten Bargains You Can Buy Cheaper Than The Insiders Did »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | That means at today's intraday high, any investor who purchased ABBV stock any time over the past 52 weeks has an unrealized gain, including company insiders. As summarized by the table below, ABBV has seen 2 different instances of insiders buying over the trailing six month period. In afternoon trading on Wednesday, ABBV shares are changing hands at $98.58/share, slightly below the new 52-week high. | In trading on Wednesday, shares of AbbVie Inc (Symbol: ABBV) touched a new 52-week high of $98.77/share. 03/03/2020 Edward J. Rapp Director 2,875 $87.87 $252,617.05 03/20/2020 Brian L. Durkin VP, Controller 3,750 $68.20 $255,754.80 03/20/2020 Brian L. Durkin VP, Controller 1,550 $69.00 $106,950.00 The chart below shows where ABBV has traded over the past year, with the 50-day and 200-day moving averages included. In afternoon trading on Wednesday, ABBV shares are changing hands at $98.58/share, slightly below the new 52-week high. | That means at today's intraday high, any investor who purchased ABBV stock any time over the past 52 weeks has an unrealized gain, including company insiders. 03/03/2020 Edward J. Rapp Director 2,875 $87.87 $252,617.05 03/20/2020 Brian L. Durkin VP, Controller 3,750 $68.20 $255,754.80 03/20/2020 Brian L. Durkin VP, Controller 1,550 $69.00 $106,950.00 The chart below shows where ABBV has traded over the past year, with the 50-day and 200-day moving averages included. In afternoon trading on Wednesday, ABBV shares are changing hands at $98.58/share, slightly below the new 52-week high. | In trading on Wednesday, shares of AbbVie Inc (Symbol: ABBV) touched a new 52-week high of $98.77/share. That means at today's intraday high, any investor who purchased ABBV stock any time over the past 52 weeks has an unrealized gain, including company insiders. As summarized by the table below, ABBV has seen 2 different instances of insiders buying over the trailing six month period. |
24516.0 | 2020-06-10 00:00:00 UTC | AbbVie Signs $3.9 Billion Oncology Deal with Genmab | ABBV | https://www.nasdaq.com/articles/abbvie-signs-%243.9-billion-oncology-deal-with-genmab-2020-06-10 | nan | nan | The pace of development for a handful of next-generation cancer therapies is about to get a huge boost. AbbVie (NYSE: ABBV) and Genmab (NASDAQ: GMAB) signed a collaboration deal on Wednesday involving three clinical-stage cancer drug candidates, plus up to four additional candidates down the road.
AbbVie and Genmab will jointly develop and commercialize three bispecific antibodies that can target surface proteins found on cancer cells with one side while the other side attracts tumor-hungry immune cells. The partners also agreed to apply each other's proprietary technology to four additional cancer drug candidates that they might find lingering in their libraries.
Image source: Getty Images.
AbbVie will pay Genmab $750 million up front and up to $1.15 billion in milestone payments for the three candidates in development now, plus up to $2 billion more if four additional new cancer therapies emerge successfully from the partnership. They will share responsibilities for the development and commercialization of all candidates involved with the exception of the antibody furthest along in the development process, epcoritamab. If it's eventually approved, Genmab's eligible to receive a royalty percentage between 22% and 26% on sales of the CD-20 targeted antibody outside of the U.S. or Japan.
AbbVie isn't the only big pharmaceutical company investing heavily in bispecific antibody development. Late last year, Roche posted results that showed 54% of patients treated with its CD-20 targeting bispecific antibody, mosunetuzumab, responded to treatment, and 43% achieved complete remission. In a phase 1 study, an exciting 13 out of 15 lymphoma patients responded to treatment with monthly injections of epcoritamab.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (NYSE: ABBV) and Genmab (NASDAQ: GMAB) signed a collaboration deal on Wednesday involving three clinical-stage cancer drug candidates, plus up to four additional candidates down the road. AbbVie and Genmab will jointly develop and commercialize three bispecific antibodies that can target surface proteins found on cancer cells with one side while the other side attracts tumor-hungry immune cells. AbbVie will pay Genmab $750 million up front and up to $1.15 billion in milestone payments for the three candidates in development now, plus up to $2 billion more if four additional new cancer therapies emerge successfully from the partnership. | AbbVie and Genmab will jointly develop and commercialize three bispecific antibodies that can target surface proteins found on cancer cells with one side while the other side attracts tumor-hungry immune cells. AbbVie (NYSE: ABBV) and Genmab (NASDAQ: GMAB) signed a collaboration deal on Wednesday involving three clinical-stage cancer drug candidates, plus up to four additional candidates down the road. AbbVie will pay Genmab $750 million up front and up to $1.15 billion in milestone payments for the three candidates in development now, plus up to $2 billion more if four additional new cancer therapies emerge successfully from the partnership. | AbbVie and Genmab will jointly develop and commercialize three bispecific antibodies that can target surface proteins found on cancer cells with one side while the other side attracts tumor-hungry immune cells. AbbVie will pay Genmab $750 million up front and up to $1.15 billion in milestone payments for the three candidates in development now, plus up to $2 billion more if four additional new cancer therapies emerge successfully from the partnership. AbbVie (NYSE: ABBV) and Genmab (NASDAQ: GMAB) signed a collaboration deal on Wednesday involving three clinical-stage cancer drug candidates, plus up to four additional candidates down the road. | AbbVie (NYSE: ABBV) and Genmab (NASDAQ: GMAB) signed a collaboration deal on Wednesday involving three clinical-stage cancer drug candidates, plus up to four additional candidates down the road. AbbVie isn't the only big pharmaceutical company investing heavily in bispecific antibody development. AbbVie and Genmab will jointly develop and commercialize three bispecific antibodies that can target surface proteins found on cancer cells with one side while the other side attracts tumor-hungry immune cells. |
24517.0 | 2020-06-10 00:00:00 UTC | ITOT, ABBV, BMY, COST: ETF Outflow Alert | ABBV | https://www.nasdaq.com/articles/itot-abbv-bmy-cost%3A-etf-outflow-alert-2020-06-10 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P Total U.S. Stock Market ETF (Symbol: ITOT) where we have detected an approximate $147.9 million dollar outflow -- that's a 0.6% decrease week over week (from 360,450,000 to 358,400,000). Among the largest underlying components of ITOT, in trading today AbbVie Inc (Symbol: ABBV) is up about 1.9%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.8%, and Costco Wholesale Corp (Symbol: COST) is up by about 0.5%. For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average:
Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $71.62. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of ITOT, in trading today AbbVie Inc (Symbol: ABBV) is up about 1.9%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.8%, and Costco Wholesale Corp (Symbol: COST) is up by about 0.5%. For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $71.62. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of ITOT, in trading today AbbVie Inc (Symbol: ABBV) is up about 1.9%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.8%, and Costco Wholesale Corp (Symbol: COST) is up by about 0.5%. For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $71.62. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of ITOT, in trading today AbbVie Inc (Symbol: ABBV) is up about 1.9%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.8%, and Costco Wholesale Corp (Symbol: COST) is up by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P Total U.S. Stock Market ETF (Symbol: ITOT) where we have detected an approximate $147.9 million dollar outflow -- that's a 0.6% decrease week over week (from 360,450,000 to 358,400,000). For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $71.62. | Among the largest underlying components of ITOT, in trading today AbbVie Inc (Symbol: ABBV) is up about 1.9%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.8%, and Costco Wholesale Corp (Symbol: COST) is up by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P Total U.S. Stock Market ETF (Symbol: ITOT) where we have detected an approximate $147.9 million dollar outflow -- that's a 0.6% decrease week over week (from 360,450,000 to 358,400,000). For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $71.62. |
24518.0 | 2020-06-10 00:00:00 UTC | Health Care Sector Update for 06/10/2020: CRIS, RKDA, GMAB, ABBV, IBB, XLV | ABBV | https://www.nasdaq.com/articles/health-care-sector-update-for-06-10-2020%3A-cris-rkda-gmab-abbv-ibb-xlv-2020-06-10 | nan | nan | Shares of health care firms were flat to higher premarket Wednesday. The iShares NASDAQ Biotechnology Index (IBB) was inactive, while the Health Care SPDR (XLV) was 0.21% higher in recent trading.
Curis (CRIS) was surging by more than 79% after saying it has received the US Food and Drug Administration's (FDA) clearance for its investigational new drug application for CI-8993, an anti-VISTA antibody.
Arcadia Biosciences (RKDA) was almost 6% higher amid an agreement to acquire Industrial Seed Innovations' (ISI) commercial and genetic assets in a deal that is expected to be "meaningfully accretive" to cash flows next year.
Genmab (GMAB) was up over 4% as it unveiled a collaboration with AbbVie (ABBV) under which potential milestone payments could reach up to $3.15 billion, helping to almost double the Danish biotechnology firm's full-year revenue guidance. AbbVie shares are up 0.5% in premarket trading.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Genmab (GMAB) was up over 4% as it unveiled a collaboration with AbbVie (ABBV) under which potential milestone payments could reach up to $3.15 billion, helping to almost double the Danish biotechnology firm's full-year revenue guidance. AbbVie shares are up 0.5% in premarket trading. The iShares NASDAQ Biotechnology Index (IBB) was inactive, while the Health Care SPDR (XLV) was 0.21% higher in recent trading. | AbbVie shares are up 0.5% in premarket trading. Genmab (GMAB) was up over 4% as it unveiled a collaboration with AbbVie (ABBV) under which potential milestone payments could reach up to $3.15 billion, helping to almost double the Danish biotechnology firm's full-year revenue guidance. Shares of health care firms were flat to higher premarket Wednesday. | Genmab (GMAB) was up over 4% as it unveiled a collaboration with AbbVie (ABBV) under which potential milestone payments could reach up to $3.15 billion, helping to almost double the Danish biotechnology firm's full-year revenue guidance. AbbVie shares are up 0.5% in premarket trading. The iShares NASDAQ Biotechnology Index (IBB) was inactive, while the Health Care SPDR (XLV) was 0.21% higher in recent trading. | Genmab (GMAB) was up over 4% as it unveiled a collaboration with AbbVie (ABBV) under which potential milestone payments could reach up to $3.15 billion, helping to almost double the Danish biotechnology firm's full-year revenue guidance. AbbVie shares are up 0.5% in premarket trading. Shares of health care firms were flat to higher premarket Wednesday. |
24519.0 | 2020-06-10 00:00:00 UTC | AbbVie : ABBV-3373 Shows Improvement In Disease Activity In Phase 2a Study On Rheumatoid Arthritis | ABBV | https://www.nasdaq.com/articles/abbvie-%3A-abbv-3373-shows-improvement-in-disease-activity-in-phase-2a-study-on-rheumatoid | nan | nan | (RTTNews) - AbbVie (ABBV) said that novel antibody drug conjugate ABBV-3373 showed improvement in disease activity in Phase 2a study of patients with Rheumatoid Arthritis.
The company said that the data showed the clinical activity of ABBV-3373 and supported advancing the development of the platform in rheumatoid arthritis and initiating clinical studies in other immune-mediated diseases.
ABBV-3373 is an investigational novel antibody drug conjugate or ADC comprised of an anti-tumor necrosis factor and a proprietary Glucocorticoid Receptor Modulator.
In this study, the safety profile of ABBV-3373 was generally similar to the known safety profile of adalimumab, the company said.
In addition, evaluations of serum cortisol levels over 12 weeks indicate that ABBV-3373 showed no systemic glucocorticoid effects.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) said that novel antibody drug conjugate ABBV-3373 showed improvement in disease activity in Phase 2a study of patients with Rheumatoid Arthritis. ABBV-3373 is an investigational novel antibody drug conjugate or ADC comprised of an anti-tumor necrosis factor and a proprietary Glucocorticoid Receptor Modulator. In addition, evaluations of serum cortisol levels over 12 weeks indicate that ABBV-3373 showed no systemic glucocorticoid effects. | (RTTNews) - AbbVie (ABBV) said that novel antibody drug conjugate ABBV-3373 showed improvement in disease activity in Phase 2a study of patients with Rheumatoid Arthritis. The company said that the data showed the clinical activity of ABBV-3373 and supported advancing the development of the platform in rheumatoid arthritis and initiating clinical studies in other immune-mediated diseases. ABBV-3373 is an investigational novel antibody drug conjugate or ADC comprised of an anti-tumor necrosis factor and a proprietary Glucocorticoid Receptor Modulator. | (RTTNews) - AbbVie (ABBV) said that novel antibody drug conjugate ABBV-3373 showed improvement in disease activity in Phase 2a study of patients with Rheumatoid Arthritis. The company said that the data showed the clinical activity of ABBV-3373 and supported advancing the development of the platform in rheumatoid arthritis and initiating clinical studies in other immune-mediated diseases. ABBV-3373 is an investigational novel antibody drug conjugate or ADC comprised of an anti-tumor necrosis factor and a proprietary Glucocorticoid Receptor Modulator. | (RTTNews) - AbbVie (ABBV) said that novel antibody drug conjugate ABBV-3373 showed improvement in disease activity in Phase 2a study of patients with Rheumatoid Arthritis. In this study, the safety profile of ABBV-3373 was generally similar to the known safety profile of adalimumab, the company said. In addition, evaluations of serum cortisol levels over 12 weeks indicate that ABBV-3373 showed no systemic glucocorticoid effects. |
24520.0 | 2020-06-10 00:00:00 UTC | Abbvie partners with Genmab in $750 mln cancer therapy deal | ABBV | https://www.nasdaq.com/articles/abbvie-partners-with-genmab-in-%24750-mln-cancer-therapy-deal-2020-06-10-0 | nan | nan | Adds details of the deal
June 10 (Reuters) - Abbvie Inc ABBV.N said on Wednesday it is partnering with Genmab AS GMAB.CO to jointly develop and commercialize cancer treatment, as it looks to expand its cancer franchise.
The U.S. based pharma giant will pay Genmab $750 million upfront to jointly develop and commercialize three of Genmab's cancer-targeting antibody products, including its potential blood cancer treatment epcoritamab, which is currently in a mid-stage study.
Genmab could receive up to $3.15 billion in additional development, regulatory and sales milestone payments.
U.S.-listed shares of Genmab were up 5% at $30.40 in premarket trading.
(Reporting By Mrinalika Roy in Bengaluru; Editing by Vinay Dwivedi)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details of the deal June 10 (Reuters) - Abbvie Inc ABBV.N said on Wednesday it is partnering with Genmab AS GMAB.CO to jointly develop and commercialize cancer treatment, as it looks to expand its cancer franchise. The U.S. based pharma giant will pay Genmab $750 million upfront to jointly develop and commercialize three of Genmab's cancer-targeting antibody products, including its potential blood cancer treatment epcoritamab, which is currently in a mid-stage study. Genmab could receive up to $3.15 billion in additional development, regulatory and sales milestone payments. | Adds details of the deal June 10 (Reuters) - Abbvie Inc ABBV.N said on Wednesday it is partnering with Genmab AS GMAB.CO to jointly develop and commercialize cancer treatment, as it looks to expand its cancer franchise. The U.S. based pharma giant will pay Genmab $750 million upfront to jointly develop and commercialize three of Genmab's cancer-targeting antibody products, including its potential blood cancer treatment epcoritamab, which is currently in a mid-stage study. (Reporting By Mrinalika Roy in Bengaluru; Editing by Vinay Dwivedi) ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details of the deal June 10 (Reuters) - Abbvie Inc ABBV.N said on Wednesday it is partnering with Genmab AS GMAB.CO to jointly develop and commercialize cancer treatment, as it looks to expand its cancer franchise. The U.S. based pharma giant will pay Genmab $750 million upfront to jointly develop and commercialize three of Genmab's cancer-targeting antibody products, including its potential blood cancer treatment epcoritamab, which is currently in a mid-stage study. (Reporting By Mrinalika Roy in Bengaluru; Editing by Vinay Dwivedi) ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details of the deal June 10 (Reuters) - Abbvie Inc ABBV.N said on Wednesday it is partnering with Genmab AS GMAB.CO to jointly develop and commercialize cancer treatment, as it looks to expand its cancer franchise. The U.S. based pharma giant will pay Genmab $750 million upfront to jointly develop and commercialize three of Genmab's cancer-targeting antibody products, including its potential blood cancer treatment epcoritamab, which is currently in a mid-stage study. Genmab could receive up to $3.15 billion in additional development, regulatory and sales milestone payments. |
24521.0 | 2020-06-10 00:00:00 UTC | AbbVie Signs Broad Collaboration Agreement With Denmark's Genmab - Quick Facts | ABBV | https://www.nasdaq.com/articles/abbvie-signs-broad-collaboration-agreement-with-denmarks-genmab-quick-facts-2020-06-10 | nan | nan | (RTTNews) - AbbVie (ABBV) and Danish biotechnology company Genmab A/S (GMAB) announced Wednesday that they have signed a broad collaboration agreement to jointly develop and commercialize three of Genmab's early-stage investigational bispecific antibody product candidates and enter into a discovery research collaboration for future differentiated antibody therapeutics for cancer.
The companies will partner to develop Genmab's next-generation bispecific antibody programs, epcoritamab (DuoBody-CD3xCD20), DuoHexaBody-CD37 and DuoBody-CD3x5T4.
The collaboration combines Genmab's world-class discovery and development engine and next-generation bispecific antibody therapeutic candidates with AbbVie's deep clinical expertise, innovative antibody-drug conjugate (ADC) platform and global commercial leadership in hematological cancers.
The discovery research collaboration will combine proprietary antibodies from both companies along with Genmab's DuoBody technology and AbbVie's payload and ADC technology to select and develop up to four additional differentiated next-generation antibody-based product candidates, potentially across both solid tumors and hematological malignancies.
For epcoritamab, the companies will share commercial responsibilities in the U.S. and Japan, with AbbVie responsible for further global commercialization. Genmab will book net sales in the U.S. and Japan and receive tiered royalties on remaining global sales.
For all other product candidates, Genmab and AbbVie will share responsibilities for global development and commercialization in the U.S. and Japan. Genmab retains the right to co-commercialize these products, along with AbbVie, outside of the U.S. and Japan.
Under the terms of the agreement, AbbVie will pay Genmab $750 million in upfront payment with the potential for Genmab to receive up to $3.15 billion in additional development, regulatory and sales milestone payments for all programs as well as tiered royalties between 22% and 26% on net sales for epcoritamab outside the U.S. and Japan.
Except for these royalty-bearing sales, the parties share in pre-tax profits from the sale of products on a 50:50 basis.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) and Danish biotechnology company Genmab A/S (GMAB) announced Wednesday that they have signed a broad collaboration agreement to jointly develop and commercialize three of Genmab's early-stage investigational bispecific antibody product candidates and enter into a discovery research collaboration for future differentiated antibody therapeutics for cancer. The collaboration combines Genmab's world-class discovery and development engine and next-generation bispecific antibody therapeutic candidates with AbbVie's deep clinical expertise, innovative antibody-drug conjugate (ADC) platform and global commercial leadership in hematological cancers. The discovery research collaboration will combine proprietary antibodies from both companies along with Genmab's DuoBody technology and AbbVie's payload and ADC technology to select and develop up to four additional differentiated next-generation antibody-based product candidates, potentially across both solid tumors and hematological malignancies. | The collaboration combines Genmab's world-class discovery and development engine and next-generation bispecific antibody therapeutic candidates with AbbVie's deep clinical expertise, innovative antibody-drug conjugate (ADC) platform and global commercial leadership in hematological cancers. The discovery research collaboration will combine proprietary antibodies from both companies along with Genmab's DuoBody technology and AbbVie's payload and ADC technology to select and develop up to four additional differentiated next-generation antibody-based product candidates, potentially across both solid tumors and hematological malignancies. For all other product candidates, Genmab and AbbVie will share responsibilities for global development and commercialization in the U.S. and Japan. | (RTTNews) - AbbVie (ABBV) and Danish biotechnology company Genmab A/S (GMAB) announced Wednesday that they have signed a broad collaboration agreement to jointly develop and commercialize three of Genmab's early-stage investigational bispecific antibody product candidates and enter into a discovery research collaboration for future differentiated antibody therapeutics for cancer. The discovery research collaboration will combine proprietary antibodies from both companies along with Genmab's DuoBody technology and AbbVie's payload and ADC technology to select and develop up to four additional differentiated next-generation antibody-based product candidates, potentially across both solid tumors and hematological malignancies. Under the terms of the agreement, AbbVie will pay Genmab $750 million in upfront payment with the potential for Genmab to receive up to $3.15 billion in additional development, regulatory and sales milestone payments for all programs as well as tiered royalties between 22% and 26% on net sales for epcoritamab outside the U.S. and Japan. | (RTTNews) - AbbVie (ABBV) and Danish biotechnology company Genmab A/S (GMAB) announced Wednesday that they have signed a broad collaboration agreement to jointly develop and commercialize three of Genmab's early-stage investigational bispecific antibody product candidates and enter into a discovery research collaboration for future differentiated antibody therapeutics for cancer. For all other product candidates, Genmab and AbbVie will share responsibilities for global development and commercialization in the U.S. and Japan. The collaboration combines Genmab's world-class discovery and development engine and next-generation bispecific antibody therapeutic candidates with AbbVie's deep clinical expertise, innovative antibody-drug conjugate (ADC) platform and global commercial leadership in hematological cancers. |
24522.0 | 2020-06-09 00:00:00 UTC | EXPLAINER-What are antibody therapies and who is developing them for COVID-19? | ABBV | https://www.nasdaq.com/articles/explainer-what-are-antibody-therapies-and-who-is-developing-them-for-covid-19-2020-06-09-0 | nan | nan | By Michael Erman
NEW YORK, June 9 (Reuters) - While some potential vaccines have emerged in the global race to find a way to stop the spread of COVID-19, many scientists and researchers believe antibody based therapies hold great promise for treating people already infected with the disease.
HOW DO ANTIBODY THERAPIES WORK?
These therapies use antibodies generated by infected humans or animals to fight off the disease in patients. They date back to the late 19th century, when researchers used a serum derived from the blood of infected animals to treat diphtheria.
For COVID-19 treatment, researchers are studying the use of convalescent plasma and other treatments made with blood from recently recovered patients.
More recently, scientists have developed treatments called monoclonal antibodies -- antibodies that can be isolated and manufactured in large quantities to treat diseases like Ebola or cancer. Companies, like Eli Lilly and Co LLY.N and Regeneron Pharmaceuticals REGN.O in the United States, are trying to use this approach to develop their treatments.
Unlike convalescent plasma, manufacturers do not need a steady supply of antibody-rich blood to produce monoclonal antibodies, so this approach could be easier to scale up.
HOW ARE THEY DIFFERENT FROM VACCINES?
In general, the goal of a vaccine is to generate an immune response that can prevent someone from getting ill with a disease, whereas antibody-derived products are generally designed to treat disease.
And while some drugmakers have suggested antibody treatments can be used prophylactically - Regeneron's Chief Scientific Officer George Yancopoulos has said their treatment could be a bridge to a vaccine - it could be expensive.
"You might go into nursing homes or the military and use it because antibodies have a pretty long half life," said Dr. Betty Diamond, Director of Molecular Medicine at the Feinstein Institutes for Medical Research.
"You might decide that you are going to use this as a prevention in this very high risk group, but you wouldn't do that for the whole country."
The amount of protein in antibody drugs makes the treatment more expensive than vaccines in general, Feng Hui, chief operating officer at Shanghai Junshi Biosciences 1877.HK, said.
Designing antibody drugs to treat or protect high risk people, including those with weak immune systems, could require hundreds, or even over a thousand times more protein than found in a vaccine shot, according to Junshi.
WHO IS DEVELOPING ANTIBODY THERAPIES FOR COVID-19?
Eli Lilly is collaborating with Junshi and Canadian biotech firm AbCellera Biologics to develop different antibody treatments, both of which have started early stage testing in humans.
Regeneron plans to start clinical studies later this month to test its antibody cocktail treatment, which was derived from antibodies from genetically-modified mice. It aims to have hundreds of thousands of preventative doses available "by the end of the summer or the fall."
The CoVIg-19 Plasma Alliance, which includes Japan's Takeda Pharmaceuticals 4502.T and CSL Behring, is working on hyperimmune globulin therapy derived from convalescent plasma, which could offer a standardized dose of antibodies and doesn't need to be limited to patients with matching blood types.
The Antibody Therapy Against Coronavirus (ATAC) project, funded by the European Commission and led by Sweden's Karolinska research institute, is looking at a similar approach as well as monoclonal antibodies. Under the project, monoclonal antibodies extracted from convalescent plasma are now being tested on human volunteers in Germany and on animals in Switzerland.
Britain's GlaxoSmithKline GSK.L is working with Vir Biotechnology Inc VIR.O to develop potential antibody treatments which select the best antibodies out of the plasma.
AbbVie ABBV.N has also announced a collaboration to develop antibody therapies.
Singapore's state research body A*Star is working with Japan's Chugai Pharmabody Research on an antibody for clinical use.
Graphics on COVID-19 treatments and vaccineshttps://graphics.reuters.com/HEALTH-CORONAVIRUS/yxmvjqywprz/index.html
(Reporting by Michael Erman; Additional reporting by Francesco Guarascio in Brussels, Roxanne Liu in Beijing and John Geddie in Singapore; Editing by Miyoung Kim & Simon Cameron-Moore)
((michael.erman@thomsonreuters.com; +1 646-223-6021; Reuters Messaging: michael.erman.thomsonreuters.com@thomsonreuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. By Michael Erman NEW YORK, June 9 (Reuters) - While some potential vaccines have emerged in the global race to find a way to stop the spread of COVID-19, many scientists and researchers believe antibody based therapies hold great promise for treating people already infected with the disease. "You might go into nursing homes or the military and use it because antibodies have a pretty long half life," said Dr. Betty Diamond, Director of Molecular Medicine at the Feinstein Institutes for Medical Research. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. More recently, scientists have developed treatments called monoclonal antibodies -- antibodies that can be isolated and manufactured in large quantities to treat diseases like Ebola or cancer. The amount of protein in antibody drugs makes the treatment more expensive than vaccines in general, Feng Hui, chief operating officer at Shanghai Junshi Biosciences 1877.HK, said. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. More recently, scientists have developed treatments called monoclonal antibodies -- antibodies that can be isolated and manufactured in large quantities to treat diseases like Ebola or cancer. Regeneron plans to start clinical studies later this month to test its antibody cocktail treatment, which was derived from antibodies from genetically-modified mice. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. These therapies use antibodies generated by infected humans or animals to fight off the disease in patients. Designing antibody drugs to treat or protect high risk people, including those with weak immune systems, could require hundreds, or even over a thousand times more protein than found in a vaccine shot, according to Junshi. |
24523.0 | 2020-06-09 00:00:00 UTC | EXPLAINER-What are antibody therapies and who is developing them for COVID-19? | ABBV | https://www.nasdaq.com/articles/explainer-what-are-antibody-therapies-and-who-is-developing-them-for-covid-19-2020-06-09 | nan | nan | By Michael Erman
NEW YORK, June 9 (Reuters) - While some potential vaccines have emerged in the global race to find a way to stop the spread of COVID-19, many scientists and researchers believe antibody based therapies hold great promise for treating people already infected with the disease.
HOW DO ANTIBODY THERAPIES WORK?
These therapies use antibodies generated by infected humans or animals to fight off the disease in patients. They date back to the late 19th century, when researchers used a serum derived from the blood of infected animals to treat diphtheria.
For COVID-19 treatment, researchers are studying the use of convalescent plasma and other treatments made with blood from recently recovered patients.
More recently, scientists have developed treatments called monoclonal antibodies -- antibodies that can be isolated and manufactured in large quantities to treat diseases like Ebola or cancer. Companies, like Eli Lilly and Co LLY.N and Regeneron Pharmaceuticals REGN.O in the United States, are trying to use this approach to develop their treatments.
Unlike convalescent plasma, manufacturers do not need a steady supply of antibody-rich blood to produce monoclonal antibodies, so this approach could be easier to scale up.
HOW ARE THEY DIFFERENT FROM VACCINES?
In general, the goal of a vaccine is to generate an immune response that can prevent someone from getting ill with a disease, whereas antibody-derived products are generally designed to treat disease.
And while some drugmakers have suggested antibody treatments can be used prophylactically - Regeneron's Chief Scientific Officer George Yancopoulos has said their treatment could be a bridge to a vaccine - it could be expensive.
"You might go into nursing homes or the military and use it because antibodies have a pretty long half life," said Dr. Betty Diamond, Director of Molecular Medicine at the Feinstein Institutes for Medical Research.
"You might decide that you are going to use this as a prevention in this very high risk group, but you wouldn't do that for the whole country."
The amount of protein in antibody drugs makes the treatment more expensive than vaccines in general, Feng Hui, chief operating officer at Shanghai Junshi Biosciences 1877.HK, said.
Antibody drugs contain hundreds, or even over a thousand times more protein than found in a vaccine shot.
WHO IS DEVELOPING ANTIBODY THERAPIES FOR COVID-19?
Eli Lilly is collaborating with Junshi and Canadian biotech firm AbCellera Biologics to develop different antibody treatments, both of which have started early stage testing in humans.
Regeneron plans to start clinical studies later this month to test its antibody cocktail treatment, which was derived from antibodies from genetically-modified mice. It aims to have hundreds of thousands of preventative doses available "by the end of the summer or the fall."
The CoVIg-19 Plasma Alliance, which includes Japan's Takeda Pharmaceuticals 4502.T and CSL Behring, is working on hyperimmune globulin therapy derived from convalescent plasma, which could offer a standardized dose of antibodies and doesn't need to be limited to patients with matching blood types.
The Antibody Therapy Against Coronavirus (ATAC) project, funded by the European Commission and led by Sweden's Karolinska research institute, is looking at a similar approach as well as monoclonal antibodies. Under the project, monoclonal antibodies extracted from convalescent plasma are now being tested on human volunteers in Germany and on animals in Switzerland.
Britain's GlaxoSmithKline GSK.L is working with Vir Biotechnology Inc VIR.O to develop potential antibody treatments which select the best antibodies out of the plasma.
AbbVie ABBV.N has also announced a collaboration to develop antibody therapies.
Singapore's state research body A*Star is working with Japan's Chugai Pharmabody Research on an antibody for clinical use.
Graphics on COVID-19 treatments and vaccineshttps://graphics.reuters.com/HEALTH-CORONAVIRUS/yxmvjqywprz/index.html
(Reporting by Michael Erman; Additional reporting by Francesco Guarascio in Brussels, Roxanne Liu in Beijing and John Geddie in Singapore; Editing by Miyoung Kim & Simon Cameron-Moore)
((michael.erman@thomsonreuters.com; +1 646-223-6021; Reuters Messaging: michael.erman.thomsonreuters.com@thomsonreuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. By Michael Erman NEW YORK, June 9 (Reuters) - While some potential vaccines have emerged in the global race to find a way to stop the spread of COVID-19, many scientists and researchers believe antibody based therapies hold great promise for treating people already infected with the disease. "You might go into nursing homes or the military and use it because antibodies have a pretty long half life," said Dr. Betty Diamond, Director of Molecular Medicine at the Feinstein Institutes for Medical Research. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. For COVID-19 treatment, researchers are studying the use of convalescent plasma and other treatments made with blood from recently recovered patients. More recently, scientists have developed treatments called monoclonal antibodies -- antibodies that can be isolated and manufactured in large quantities to treat diseases like Ebola or cancer. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. More recently, scientists have developed treatments called monoclonal antibodies -- antibodies that can be isolated and manufactured in large quantities to treat diseases like Ebola or cancer. Regeneron plans to start clinical studies later this month to test its antibody cocktail treatment, which was derived from antibodies from genetically-modified mice. | AbbVie ABBV.N has also announced a collaboration to develop antibody therapies. These therapies use antibodies generated by infected humans or animals to fight off the disease in patients. For COVID-19 treatment, researchers are studying the use of convalescent plasma and other treatments made with blood from recently recovered patients. |
24524.0 | 2020-06-07 00:00:00 UTC | AstraZeneca contacted Gilead over potential megamerger -Bloomberg News | ABBV | https://www.nasdaq.com/articles/astrazeneca-contacted-gilead-over-potential-megamerger-bloomberg-news-2020-06-07 | nan | nan | By Paul Sandle and Pamela Barbaglia
LONDON, June 7 (Reuters) - Britain's AstraZeneca AZN.L has approached U.S. rival Gilead Sciences GILD.O about a possible merger to form one the world's largest drug companies, Bloomberg News reported on Sunday, citing people familiar with the matter.
Such a deal would unite two of the drugmakers at the forefront of the industry's efforts to fight the new coronavirus and could be politically sensitive as governments seek control over potential vaccines or treatments.
AstraZeneca contacted Gilead last month, but its U.S. rival was not interested in combining with another big pharmaceuticals company, the Bloomberg report said.
A spokeswoman for AstraZeneca said the company does not comment on rumours or speculation.
Gilead, the world's largest maker of HIV drugs, declined to comment on the report.
If combined, the two companies would have a market capitalisation of about $232 billion, based on Friday's closing share prices.
That would exceed Merck & Co MRK.N and Pfizer PFE.N at $207 billion and $200 billion respectively.
Two sources familiar with AstraZeneca's thinking questioned the rationale of a tie-up, telling Reuters that Gilead's remdesivir drug for COVID-19 patients was insufficient to justify pursuing a multibillion-dollar deal that would detract from AstraZeneca's work on a coronavirus vaccine.
One of the sources questioned the timing. Given the potential impact a successful vaccine would have on AstraZeneca's share price, it does not need the additional strain of pursuing a record-breaking deal, especially when travel constraints make face-to-face meetings difficult.
While Gilead may look cheap with its price-to-earnings ratio of 12 times and AstraZeneca may be attracted by the potential cost-cutting and decent free cashflow, Jefferies analysts said they do not view a deal as likely.
"We think Gilead believes its HIV business is very underappreciated," they said in a note, adding that the company "would prefer to build value over time and do its own tuck-in deals".
RECORD HIGHS
Gilead's biggest blockbuster drug is HIV drug Biktarvy, with sales of $1.69 billion in the first quarter.
AstraZeneca's top-selling product is its lung cancer drug Tagrisso, which generated first-quarter revenue of $982 million.
Both companies' shares have jumped this year as the healthcare sector has drawn fresh investor interest as drugmakers race to develop treatments and vaccines to counter the pandemic.
AstraZeneca's shares hit record highs in late April while Gilead's stock is up 20% since the start of the year.
Gilead, AstraZeneca and other drugmakers, including Eli Lilly and Co LLY.N, Pfizer PFE.N and Merck & Co MRK.N, are racing to develop vaccines or treatments for COVID-19, the respiratory illness caused by the novel coronavirus.
More than 6.9 million people have been reported infected with the coronavirus globally and 399,025 have died, a Reuters tally showed on Sunday.
It is unclear whether a vaccine will work, but AstraZeneca's partnership with Oxford University to develop one is among a handful of initiatives U.S. President Donald Trump's COVID task force has backed.
Gilead has also been in the vanguard of COVID-19 treatments.
Its remdesivir antiviral is the first drug to lead to improvement in COVID-19 patients in formal clinical trials.
The drug has been cleared for emergency use in COVID-19 patients in countries including the United States and South Korea and could bring in more than $7 billion in annual sales for by 2022 if governments seek to stockpile it against future outbreaks, SVB Leerink has estimated.
An AstraZeneca-Gilead deal would not be the first big pharma takeover in the past year. U.S. drugmaker Bristol Myers Squibb BMY.N completed its $74 billion acquisition of Celgene in November and AbbVie ABBV.N is buying Botox maker Allergan AGN.N in a $63 billion deal.
Drug companies by market caphttps://tmsnrt.rs/2z9Y7wf
(Reporting by Paul Sandle, Pamela Barbaglia and Josephine Mason in London and Rama Venkat and Kanishka Singh in Bengaluru Aadditional reporting by Ludwig Burger, Rebecca Spalding and Deena Beasley Editing by Jason Neely, Barbara Lewis and David Goodman)
((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607; within U.S. +1 646 223 8780, outside the U.S. +91 80 6182 2759;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. drugmaker Bristol Myers Squibb BMY.N completed its $74 billion acquisition of Celgene in November and AbbVie ABBV.N is buying Botox maker Allergan AGN.N in a $63 billion deal. By Paul Sandle and Pamela Barbaglia LONDON, June 7 (Reuters) - Britain's AstraZeneca AZN.L has approached U.S. rival Gilead Sciences GILD.O about a possible merger to form one the world's largest drug companies, Bloomberg News reported on Sunday, citing people familiar with the matter. Given the potential impact a successful vaccine would have on AstraZeneca's share price, it does not need the additional strain of pursuing a record-breaking deal, especially when travel constraints make face-to-face meetings difficult. | U.S. drugmaker Bristol Myers Squibb BMY.N completed its $74 billion acquisition of Celgene in November and AbbVie ABBV.N is buying Botox maker Allergan AGN.N in a $63 billion deal. By Paul Sandle and Pamela Barbaglia LONDON, June 7 (Reuters) - Britain's AstraZeneca AZN.L has approached U.S. rival Gilead Sciences GILD.O about a possible merger to form one the world's largest drug companies, Bloomberg News reported on Sunday, citing people familiar with the matter. Gilead, the world's largest maker of HIV drugs, declined to comment on the report. | U.S. drugmaker Bristol Myers Squibb BMY.N completed its $74 billion acquisition of Celgene in November and AbbVie ABBV.N is buying Botox maker Allergan AGN.N in a $63 billion deal. By Paul Sandle and Pamela Barbaglia LONDON, June 7 (Reuters) - Britain's AstraZeneca AZN.L has approached U.S. rival Gilead Sciences GILD.O about a possible merger to form one the world's largest drug companies, Bloomberg News reported on Sunday, citing people familiar with the matter. Two sources familiar with AstraZeneca's thinking questioned the rationale of a tie-up, telling Reuters that Gilead's remdesivir drug for COVID-19 patients was insufficient to justify pursuing a multibillion-dollar deal that would detract from AstraZeneca's work on a coronavirus vaccine. | U.S. drugmaker Bristol Myers Squibb BMY.N completed its $74 billion acquisition of Celgene in November and AbbVie ABBV.N is buying Botox maker Allergan AGN.N in a $63 billion deal. By Paul Sandle and Pamela Barbaglia LONDON, June 7 (Reuters) - Britain's AstraZeneca AZN.L has approached U.S. rival Gilead Sciences GILD.O about a possible merger to form one the world's largest drug companies, Bloomberg News reported on Sunday, citing people familiar with the matter. One of the sources questioned the timing. |
24525.0 | 2020-06-07 00:00:00 UTC | Better Buy: AbbVie vs. Johnson & Johnson | ABBV | https://www.nasdaq.com/articles/better-buy%3A-abbvie-vs.-johnson-johnson-2020-06-07 | nan | nan | AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are stalwart companies that are in a lot of investors' portfolios. Analysts almost always preach diversification, and these two healthcare stocks bring balance in their own right.
AbbVie is strictly pharmaceutical, but its recent purchase of Allergan really broadens its pipeline beyond the world's top-selling drug, Humira, which treats many auto-immune disorders. Pharmaceutical sales make up slightly more than half of Johnson & Johnson's revenue with its consumer health and medical devices bringing in the rest of its sales.
There's something to be said for sheer size. AbbVie has 47,000 employees and raked in $33.3 billion of revenue last year. The company anticipates likely revenue of $50 billion a year with Allergan under its wing. Johnson & Johnson has more than 132,000 employees and made $82 billion in revenue in fiscal 2019.
So which of these healthcare giants is a better buy for investors today?
Image Source: Getty Images
The case for Johnson & Johnson
The company is like a tank, rolling over all obstacles in its path. In the past year, it has dealt with opioid-related and talcum powder lawsuits. It stopped making Johnson's Baby Powder last month, citing reduced demand.
The company's first-quarter 2020 numbers show a 3.3% increase in sales, year over year, and a 54.6% rise in net earnings. The company's pharmaceutical and consumer health divisions saw 8.7% and 9.2% revenue increases, respectively.
The Dividend King has increased quarterly dividends for 58 years and recently announced it was raising its quarterly dividend 6.3% to $1.01 a share, a solid yield of 2.73%. The payout ratio is 49.25%, easily sustainable as evidenced by the company's history.
The case for AbbVie
AbbVie boasted more growth recently than Johnson & Johnson and that should accelerate with its purchase of Allergan that was completed in May. In AbbVie's first-quarter report, revenue was $8.6 billion, an increase of 10.1%, year over year. It's still making a lot of money off Humira, nearly 58% of its revenue, despite increased biosimilar competition in Europe. First-quarter Humira numbers were $4.7 billion, up 14.5% reported compared to the same quarter in 2019.
AbbVie's other big sellers inlcude Imbruvica, a cancer drug with $1.2 billion in quarterly net revenues, up 20.6%, compared to the same quarter in 2019. Venclexta, a treatment for adults with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL), had net revenues of $317 million. Its plaque psoriasis drug Skyrizi brought in $300 million.
Buying Allergan gives AbbVie Botox, a cash cow that made the former company $1.02 billion in sales in the fourth quarter, with slightly more than 55% of that from therapeutic uses and 45% from cosmetic use. Another former Allergan drug, wrinkle-filler Juvederm, will help with AbbVie's bottom line as well. In the fourth quarter, it brought in $347.3 million.
Also a Dividend Aristocrat, AbbVie has increased its dividend 195% since the company was spun off from Abbott Labs in 2013. This year, it raised its quarterly dividend to $1.18 per share. The dividend's yield is outstanding -- 5.18% trailing twelve months (TTM) with a payout ratio of 44.73%.
The company confirmed it expects stand-alone adjusted diluted earnings per share for the full year of $9.61 to $9.71, representing growth of 8.1% at the midpoint.
At this point, AbbVie appears to be a better deal
Looking at the potential upside for AbbVie from the Allergan deal, I believe its stock is underpriced, compared to Johnson and Johnson. Not only has AbbVie had more growth this year in its share price, at 7% compared to Johnson & Johnson's 1.7% rise; it has a significantly lower price-to-earnings (P/E) ratio at 16.54% compared to Johnson & Johnson's 22.79%. Add in a slightly more attractive dividend and it's easy to give AbbVie the edge.
Of course, it's not that simple. Johnson & Johnson is likely the safer bet. Two things concern me about AbbVie. How will it respond when Humira likely begins facing biosimilar competition in the U.S. in 2023, and how well will the company integrate Allergan this year?
Another big shift would be if Johnson & Johnson's COVID-19 vaccine candidate is successful. The company plans to spend $1 billion on the effort and plans to begin a phase 1 clinical study in September, with clinical data available by the end of the year.
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Jim Halley owns shares of AbbVie and Johnson & Johnson. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie is strictly pharmaceutical, but its recent purchase of Allergan really broadens its pipeline beyond the world's top-selling drug, Humira, which treats many auto-immune disorders. Buying Allergan gives AbbVie Botox, a cash cow that made the former company $1.02 billion in sales in the fourth quarter, with slightly more than 55% of that from therapeutic uses and 45% from cosmetic use. AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are stalwart companies that are in a lot of investors' portfolios. | In AbbVie's first-quarter report, revenue was $8.6 billion, an increase of 10.1%, year over year. AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are stalwart companies that are in a lot of investors' portfolios. AbbVie is strictly pharmaceutical, but its recent purchase of Allergan really broadens its pipeline beyond the world's top-selling drug, Humira, which treats many auto-immune disorders. | The case for AbbVie AbbVie boasted more growth recently than Johnson & Johnson and that should accelerate with its purchase of Allergan that was completed in May. At this point, AbbVie appears to be a better deal Looking at the potential upside for AbbVie from the Allergan deal, I believe its stock is underpriced, compared to Johnson and Johnson. Not only has AbbVie had more growth this year in its share price, at 7% compared to Johnson & Johnson's 1.7% rise; it has a significantly lower price-to-earnings (P/E) ratio at 16.54% compared to Johnson & Johnson's 22.79%. | The case for AbbVie AbbVie boasted more growth recently than Johnson & Johnson and that should accelerate with its purchase of Allergan that was completed in May. Not only has AbbVie had more growth this year in its share price, at 7% compared to Johnson & Johnson's 1.7% rise; it has a significantly lower price-to-earnings (P/E) ratio at 16.54% compared to Johnson & Johnson's 22.79%. AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are stalwart companies that are in a lot of investors' portfolios. |
24526.0 | 2020-06-06 00:00:00 UTC | If You Like Dividends, You Should Love These 2 Stocks | ABBV | https://www.nasdaq.com/articles/if-you-like-dividends-you-should-love-these-2-stocks-2020-06-06 | nan | nan | Amid the coronavirus-fueled market downturn -- and the economic troubles that have followed -- many companies have slashed or outright suspended their dividend payments, much to the dismay of income-seeking investors. However, some companies look poised to ride out the current market downturn with their dividends unscathed. Two such businesses are healthcare giants AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE). Here's why dividend investors should love both of these stocks.
ABBV data by YCharts
The new AbbVie could be a cash-making machine
AbbVie currently sports a dividend yield of 4.8%, a dividend payout ratio of 77.5%, and a cash payout ratio of 48.3%. Furthermore, the company has raised its dividend by 131.4% over the past five years. Looking forward, this pharma giant looks likely to remain a top dividend stock. AbbVie markets Humira, the world's best-selling drug, which treats several autoimmune disorders such as rheumatoid arthritis. And although sales of Humira have been losing steam in international markets, it remains a blockbuster drug and will keep that title for a few more years.
To decrease its top-line exposure to Humira, though, AbbVie famously acquired Allergan in a cash-and-stock transaction valued at $63 billion that closed last month. AbbVie now has a rich and diversified lineup of products, including Botox, which generates billions in revenue every year. And it can count on other drugs such as Venclexta and Imbruvica, two cancer medicines whose sales are growing at a good clip.
Image source: Getty Images.
During the first quarter, the combined revenue of these two products increased by about 32.1% to $1.5 billion. Skyrizi is another promising product for AbbVie; revenue from this plaque psoriasis treatment -- which was approved last year by the U.S. Food and Drug Administration (FDA) -- totaled $300 million during the first quarter, a roughly 39% sequential increase.
Even with its strong lineup, there's one problem with AbbVie: The acquisition of Allergan significantly increased the company's debt level. However, management has pledged to take care of this problem as fast as possible. "The robust cash flow generation of the combined company will be used to rapidly pay down debt, support a strong and growing dividend and pursue additional innovative mid-to-late stage pipeline assets. We have committed to paying down $15 billion to $18 billion of combined company debt by the end of 2021, of which nearly $7 billion will [have been] repaid by the end of May 2020," said AbbVie's CFO Robert Michael.
AbbVie looks likely to continue rewarding its shareholders by way of dividend increases for many years, and income-seeking investors would do well to consider buying shares of the pharma giant.
Pfizer is down, but not yet out
Pfizer has performed worse than the broader market so far this year. The poor performance can be attributed to several factors, one of which was its first-quarter financial performance. During this quarter, Pfizer's revenue of $12 billion decreased by 7% compared with the year-ago period. The company also reported earnings per share (EPS) of $0.61, compared with $0.68 the year before.
Even given these unimpressive financial results, I think Pfizer has a lot to offer investors. First, note that many of the company's struggles during the first quarter came from its Upjohn unit, which houses its generic offerings. This business segment suffered a 37% operational decline. Why is this important? Pfizer is currently in the process of spinning off its Upjohn unit to Mylan (NASDAQ: MYL). Pfizer wants to focus on its biopharma business, which has been performing well: During the first quarter, revenue from the biopharma segment increased by 12% to about $10 billion.
Pfizer expects the Upjohn spinoff to close in the second half of this year. The company's shareholders will then own a 57% share of the new company, dubbed Viatris. Once this deal is in the rearview mirror, Pfizer will become a more focused company, and the pharma giant will likely deliver healthy revenue and earnings growth. Pfizer boasts several drugs whose sales are growing at a good clip. For instance, there is Eliquis, an anticoagulant whose sales increased by 29% to $1.3 billion during the first quarter.
There is also cancer drug Ibrance, whose sales for the first quarter grew by 10% year over year to $1.2 billion, and Xtandi, another cancer drug whose sales were up by 25% year over year to $209 million. In addition, Pfizer has a robust pipeline with dozens of candidates that can replenish and strengthen its lineup of products. Lastly, the pharma giant is very willing to use its capital to reward shareholders by way of dividends.
During the company's first-quarter earnings conference call, in response to a question about Pfizer's capital allocation plans, the company's CFO, Frank D'Amelio, mentioned paying dividends as one of Pfizer's top priorities. The company currently offers a dividend yield of 4.1%, and its payout ratio and cash payout ratio are 51.3% and 70.1%, respectively. Pfizer looks like a strong dividend-paying stock to buy for income-seeking investors.
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Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool recommends Mylan. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Skyrizi is another promising product for AbbVie; revenue from this plaque psoriasis treatment -- which was approved last year by the U.S. Food and Drug Administration (FDA) -- totaled $300 million during the first quarter, a roughly 39% sequential increase. Two such businesses are healthcare giants AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE). ABBV data by YCharts The new AbbVie could be a cash-making machine AbbVie currently sports a dividend yield of 4.8%, a dividend payout ratio of 77.5%, and a cash payout ratio of 48.3%. | Two such businesses are healthcare giants AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE). ABBV data by YCharts The new AbbVie could be a cash-making machine AbbVie currently sports a dividend yield of 4.8%, a dividend payout ratio of 77.5%, and a cash payout ratio of 48.3%. AbbVie markets Humira, the world's best-selling drug, which treats several autoimmune disorders such as rheumatoid arthritis. | AbbVie looks likely to continue rewarding its shareholders by way of dividend increases for many years, and income-seeking investors would do well to consider buying shares of the pharma giant. Two such businesses are healthcare giants AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE). ABBV data by YCharts The new AbbVie could be a cash-making machine AbbVie currently sports a dividend yield of 4.8%, a dividend payout ratio of 77.5%, and a cash payout ratio of 48.3%. | AbbVie looks likely to continue rewarding its shareholders by way of dividend increases for many years, and income-seeking investors would do well to consider buying shares of the pharma giant. Two such businesses are healthcare giants AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE). ABBV data by YCharts The new AbbVie could be a cash-making machine AbbVie currently sports a dividend yield of 4.8%, a dividend payout ratio of 77.5%, and a cash payout ratio of 48.3%. |
24527.0 | 2020-06-06 00:00:00 UTC | 2 Healthcare Stocks That Have a Killer Advantage | ABBV | https://www.nasdaq.com/articles/2-healthcare-stocks-that-have-a-killer-advantage-2020-06-06 | nan | nan | Making money on the stock market is simple, at least in theory. All an investor needs to do is to buy shares of public companies that have a competitive advantage -- and that, as a result, can continue generating growing revenue and earnings for decades -- and hold these shares for a long time.
But it isn't always simple to identify companies with a strong competitive advantage. Today, we'll look at two healthcare stocks that sport a healthy moat, and explore why both of these stocks are worth adding to your portfolio. These stocks are Vertex Pharmaceuticals (NASDAQ: VRTX) and Intuitive Surgical (NASDAQ: ISRG).
This company holds a monopoly in the market for CF drugs
Vertex Pharma is a biotech company that has one of the most compelling competitive advantages any business can have: The company holds a monopoly in the market for drugs that treat the underlying causes of cystic fibrosis (CF), a genetic condition that causes damage to internal organs such as the lungs. CF is caused by more than 100 different genetic mutations, which means not all drugs that address the underlying causes of this rare disease can treat all CF patients.
Image source: Getty Images.
Vertex's Trikafta was approved by the U.S. Food and Drug Administration (FDA) in October, and this drug targets the most common CF mutation. This approval means that Vertex can now treat about 90% of CF patients, which amounts to approximately 68,000 of the 75,000 patients in the U.S., Europe, and Australia who have CF. Trikafta is already successful, despite having been launched less than a year ago. During the fourth quarter of its fiscal year 2019, Vertex recorded net revenue of $1.4 billion, a 63% year-over-year increase.
Trikafta's revenue for the fourth quarter was $420 million. Then, during the first quarter, the biotech company reported net revenue of $1.52 billion, representing a 77% increase compared to the year-ago period. Trikafta's revenue for this quarter was $895 million. Vertex's revenue and earnings will continue to grow as the company remains the only player in this space.
Of course, Vertex isn't completely bulletproof, and there are several risks to consider with this company. First, there's the risk that Vertex will lose patent protection for some of its products. Its earliest patent expiration is in 2025 when the company's patent for Kalydeco will expire in Europe. Similarly, several other drugs Vertex markets will lose their patent protection between 2026 and 2030, both in the U.S. and Europe. However, 2025 isn't exactly around the corner, and Trikafta -- by far Vertex's most important drug to date, which already accounts for the bulk of its revenue -- likely won't lose patent protection until well into the 2030s.
Second, other companies are currently looking to develop treatments for CF. For instance, pharma giant AbbVie (NYSE: ABBV) has an investigational CF drug in early-stage testing. But AbbVie's product isn't even close to hitting the market, that is, if it ever does. Vertex has nothing to fear from this competitor -- and others -- for the foreseeable future. Thanks to its dominance in its niche market, Vertex looks poised to continue delivering market-beating returns to its shareholders.
The leader in robotic-assisted surgery
Intuitive Surgical is the leading company in the market for robotic-assisted surgery. The company's da Vinci surgical system has been highly successful since it was first cleared by the FDA in 2000, and Intuitive Surgical will likely continue its dominance for many years to come. With 5,669 of its da Vinci systems installed worldwide (as of March 31), Intuitive Surgical has more installed bases than any of its competitors.
However, the company's competitive advantage doesn't stop there. Due to its status as a pioneer in this industry, Intuitive Surgical has already jumped through hoops other companies will have to deal with before catching up. For instance, robotic-assisted surgery devices are complex systems to use, and doing so requires intensive training. Intuitive Surgical has already trained thousands of healthcare professionals, both in the U.S. and abroad.
Furthermore, these complex robotic systems need to clear regulatory hurdles and need accompanying instruments and accessories. And companies that manage to clear all these hurdles still have to market their products to healthcare facilities. Intuitive Surgical benefits from its status as a first-mover in this market, and other companies will have to do a lot of work to knock it off its perch.
There's at least one more thing to consider. Intuitive Surgical's da Vinci aystems cost anywhere between $500,000 and $2.5 million. This price tag could be off-putting to many of its potential clients, but Intuitive Surgical found a way around this problem. In 2013, the company started offering leasing arrangements, which gives its customers more flexibility in how they pay for the da Vinci system. Even with potential competitors such as Medtronic (NYSE: MDT) and Johnson & Johnson (NYSE: JNJ), Intuitive Surgical will continue to deliver strong returns to investors as the market for robotic surgery grows thanks to its aforementioned competitive advantage. Investors would do well to buy shares of this healthcare stock right now.
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Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Intuitive Surgical. The Motley Fool recommends Johnson & Johnson and Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For instance, pharma giant AbbVie (NYSE: ABBV) has an investigational CF drug in early-stage testing. But AbbVie's product isn't even close to hitting the market, that is, if it ever does. During the fourth quarter of its fiscal year 2019, Vertex recorded net revenue of $1.4 billion, a 63% year-over-year increase. | For instance, pharma giant AbbVie (NYSE: ABBV) has an investigational CF drug in early-stage testing. But AbbVie's product isn't even close to hitting the market, that is, if it ever does. This company holds a monopoly in the market for CF drugs Vertex Pharma is a biotech company that has one of the most compelling competitive advantages any business can have: The company holds a monopoly in the market for drugs that treat the underlying causes of cystic fibrosis (CF), a genetic condition that causes damage to internal organs such as the lungs. | For instance, pharma giant AbbVie (NYSE: ABBV) has an investigational CF drug in early-stage testing. But AbbVie's product isn't even close to hitting the market, that is, if it ever does. This company holds a monopoly in the market for CF drugs Vertex Pharma is a biotech company that has one of the most compelling competitive advantages any business can have: The company holds a monopoly in the market for drugs that treat the underlying causes of cystic fibrosis (CF), a genetic condition that causes damage to internal organs such as the lungs. | For instance, pharma giant AbbVie (NYSE: ABBV) has an investigational CF drug in early-stage testing. But AbbVie's product isn't even close to hitting the market, that is, if it ever does. However, 2025 isn't exactly around the corner, and Trikafta -- by far Vertex's most important drug to date, which already accounts for the bulk of its revenue -- likely won't lose patent protection until well into the 2030s. |
24528.0 | 2020-06-05 00:00:00 UTC | Strong Insider Buying Found in the Underlying Holdings of DHS | ABBV | https://www.nasdaq.com/articles/strong-insider-buying-found-in-the-underlying-holdings-of-dhs-2020-06-05 | nan | nan | A look at the weighted underlying holdings of the WisdomTree U.S. High Dividend Fund (DHS) shows an impressive 28.7% of holdings on a weighted basis have experienced insider buying within the past six months.
AbbVie Inc (Symbol: ABBV), which makes up 5.34% of the WisdomTree U.S. High Dividend Fund (DHS), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $39,694,837 worth of ABBV, making it the #3 largest holding. The table below details the recent insider buying activity observed at ABBV:
ABBV — last trade: $93.04 — Recent Insider Buys:
PURCHASED INSIDER TITLE SHARES PRICE/SHARE VALUE
03/03/2020 Edward J. Rapp Director 2,875 $87.87 $252,617
03/20/2020 Brian L. Durkin VP, Controller 3,750 $68.20 $255,755
03/20/2020 Brian L. Durkin VP, Controller 1,550 $69.00 $106,950
And Simon Property Group, Inc. (Symbol: SPG), the #32 largest holding among components of the WisdomTree U.S. High Dividend Fund (DHS), shows 8 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $4,588,688 worth of SPG, which represents approximately 0.62% of the ETF's total assets at last check. The recent insider buying activity observed at SPG is detailed in the table below:
SPG — last trade: $76.73 — Recent Insider Buys:
PURCHASED INSIDER TITLE SHARES PRICE/SHARE VALUE
03/17/2020 Reuben S. Leibowitz Director 1,500 $64.88 $97,325
03/19/2020 Larry C. Glasscock Director 10,000 $58.98 $589,788
03/18/2020 J. Albert Smith Jr. Director 1,750 $52.03 $91,052
03/18/2020 Daniel C. Smith Director 921 $53.14 $48,946
03/18/2020 Herbert Simon Director 188,572 $52.67 $9,933,030
03/18/2020 Allan B. Hubbard Director 3,615 $54.81 $198,138
03/18/2020 Reuben S. Leibowitz Director 1,000 $50.15 $50,145
03/18/2020 Stefan M. Selig Director 15,000 $46.17 $692,625
05/15/2020 Glyn Aeppel Director 1,000 $50.50 $50,500
10 ETFs With Stocks That Insiders Are Buying »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc (Symbol: ABBV), which makes up 5.34% of the WisdomTree U.S. High Dividend Fund (DHS), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $39,694,837 worth of ABBV, making it the #3 largest holding. The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $93.04 — Recent Insider Buys: | The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $93.04 — Recent Insider Buys: AbbVie Inc (Symbol: ABBV), which makes up 5.34% of the WisdomTree U.S. High Dividend Fund (DHS), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $39,694,837 worth of ABBV, making it the #3 largest holding. | The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $93.04 — Recent Insider Buys: AbbVie Inc (Symbol: ABBV), which makes up 5.34% of the WisdomTree U.S. High Dividend Fund (DHS), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $39,694,837 worth of ABBV, making it the #3 largest holding. | AbbVie Inc (Symbol: ABBV), which makes up 5.34% of the WisdomTree U.S. High Dividend Fund (DHS), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $39,694,837 worth of ABBV, making it the #3 largest holding. The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $93.04 — Recent Insider Buys: |
24529.0 | 2020-06-05 00:00:00 UTC | AbbVie, HBM, UU, Erasmus Medical Center To Develop Antibody Therapeutic To Prevent & Treat COVID-19 | ABBV | https://www.nasdaq.com/articles/abbvie-hbm-uu-erasmus-medical-center-to-develop-antibody-therapeutic-to-prevent-treat | nan | nan | (RTTNews) - AbbVie (ABBV), Harbour BioMed (HBM), Utrecht University (UU) and Erasmus Medical Center have collaborated to develop a novel antibody therapeutic to prevent and treat COVID-19, AbbVie said in a statement.
They will focus on advancing the fully human, neutralizing antibody 47D11 discovered by UU, EMC and HBM and recently reported in Nature Communications. This antibody targets the conserved domain of the spike protein of SARS-CoV-2.
COVID-19 is the pandemic respiratory disease caused by the SARS-CoV-2 virus.
As per the terms of the collaboration, AbbVie will support Utrecht University, Erasmus Medical Center and Harbour BioMed through the preclinical activities, while simultaneously undertaking preparations for later stage preclinical and clinical development work.
AbbVie will receive an option to exclusively license the antibody from the three parties for therapeutic clinical development and commercialization worldwide.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As per the terms of the collaboration, AbbVie will support Utrecht University, Erasmus Medical Center and Harbour BioMed through the preclinical activities, while simultaneously undertaking preparations for later stage preclinical and clinical development work. AbbVie will receive an option to exclusively license the antibody from the three parties for therapeutic clinical development and commercialization worldwide. (RTTNews) - AbbVie (ABBV), Harbour BioMed (HBM), Utrecht University (UU) and Erasmus Medical Center have collaborated to develop a novel antibody therapeutic to prevent and treat COVID-19, AbbVie said in a statement. | (RTTNews) - AbbVie (ABBV), Harbour BioMed (HBM), Utrecht University (UU) and Erasmus Medical Center have collaborated to develop a novel antibody therapeutic to prevent and treat COVID-19, AbbVie said in a statement. As per the terms of the collaboration, AbbVie will support Utrecht University, Erasmus Medical Center and Harbour BioMed through the preclinical activities, while simultaneously undertaking preparations for later stage preclinical and clinical development work. AbbVie will receive an option to exclusively license the antibody from the three parties for therapeutic clinical development and commercialization worldwide. | (RTTNews) - AbbVie (ABBV), Harbour BioMed (HBM), Utrecht University (UU) and Erasmus Medical Center have collaborated to develop a novel antibody therapeutic to prevent and treat COVID-19, AbbVie said in a statement. As per the terms of the collaboration, AbbVie will support Utrecht University, Erasmus Medical Center and Harbour BioMed through the preclinical activities, while simultaneously undertaking preparations for later stage preclinical and clinical development work. AbbVie will receive an option to exclusively license the antibody from the three parties for therapeutic clinical development and commercialization worldwide. | (RTTNews) - AbbVie (ABBV), Harbour BioMed (HBM), Utrecht University (UU) and Erasmus Medical Center have collaborated to develop a novel antibody therapeutic to prevent and treat COVID-19, AbbVie said in a statement. As per the terms of the collaboration, AbbVie will support Utrecht University, Erasmus Medical Center and Harbour BioMed through the preclinical activities, while simultaneously undertaking preparations for later stage preclinical and clinical development work. AbbVie will receive an option to exclusively license the antibody from the three parties for therapeutic clinical development and commercialization worldwide. |
24530.0 | 2020-06-05 00:00:00 UTC | Abbvie strikes partnership to develop COVID-19 antibody therapy | ABBV | https://www.nasdaq.com/articles/abbvie-strikes-partnership-to-develop-covid-19-antibody-therapy-2020-06-05 | nan | nan | June 5 (Reuters) - U.S. drugmaker AbbVie Inc ABBV.N said on Friday it would develop an antibody therapy to prevent and treat COVID-19 in partnership with three organizations including the Netherlands' Utrecht University.
AbbVie joins other drugmakers in the race to develop a treatment for COVID-19, the respiratory illness caused by the new coronavirus that has no approved treatment.
Biotech company Harbour BioMed and Erasmus Medical Center are the other partners and the collaboration will aim to develop an antibody that targets the conserved domain of the spike protein of the virus.
The human antibody, 47D11, was discovered by Utrecht University, Erasmus Medical Center and Harbor BioMed.
AbbVie will support through the preclinical phase, as well as prepare for later stage preclinical and clinical development work.
The company will have the option to exclusively license the antibody for clinical development and commercialization across the globe.
AbbVie shares were up 2% in light trading before the bell.
FACTBOX-Global pharma industry steps up efforts to battle new coronavirus
Reasons for hope: the drugs, tests and tactics that may conquer coronavirus
(Reporting by Vishwadha Chander in Bengaluru; Editing by Sriraj Kalluvila)
((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 5 (Reuters) - U.S. drugmaker AbbVie Inc ABBV.N said on Friday it would develop an antibody therapy to prevent and treat COVID-19 in partnership with three organizations including the Netherlands' Utrecht University. AbbVie joins other drugmakers in the race to develop a treatment for COVID-19, the respiratory illness caused by the new coronavirus that has no approved treatment. AbbVie will support through the preclinical phase, as well as prepare for later stage preclinical and clinical development work. | AbbVie will support through the preclinical phase, as well as prepare for later stage preclinical and clinical development work. June 5 (Reuters) - U.S. drugmaker AbbVie Inc ABBV.N said on Friday it would develop an antibody therapy to prevent and treat COVID-19 in partnership with three organizations including the Netherlands' Utrecht University. AbbVie joins other drugmakers in the race to develop a treatment for COVID-19, the respiratory illness caused by the new coronavirus that has no approved treatment. | June 5 (Reuters) - U.S. drugmaker AbbVie Inc ABBV.N said on Friday it would develop an antibody therapy to prevent and treat COVID-19 in partnership with three organizations including the Netherlands' Utrecht University. AbbVie joins other drugmakers in the race to develop a treatment for COVID-19, the respiratory illness caused by the new coronavirus that has no approved treatment. AbbVie will support through the preclinical phase, as well as prepare for later stage preclinical and clinical development work. | AbbVie joins other drugmakers in the race to develop a treatment for COVID-19, the respiratory illness caused by the new coronavirus that has no approved treatment. AbbVie will support through the preclinical phase, as well as prepare for later stage preclinical and clinical development work. June 5 (Reuters) - U.S. drugmaker AbbVie Inc ABBV.N said on Friday it would develop an antibody therapy to prevent and treat COVID-19 in partnership with three organizations including the Netherlands' Utrecht University. |
24531.0 | 2020-06-04 00:00:00 UTC | AbbVie's : Long-term Results Show RINVOQ Improves Signs, Symptoms On Rheumatoid Arthritis | ABBV | https://www.nasdaq.com/articles/abbvies-%3A-long-term-results-show-rinvoq-improves-signs-symptoms-on-rheumatoid-arthritis | nan | nan | (RTTNews) - AbbVie (ABBV) announced new long-term results showing that once daily upadacitinib continued to improve signs and symptoms in patients with rheumatoid arthritis at 72 and 84 weeks in the SELECT-COMPARE and SELECT-MONOTHERAPY (upadacitinib, 15 mg and 30 mg) Phase 3 clinical trials, respectively.
The safety profile of upadacitinib (15 mg and 30 mg) monotherapy or upadacitinib (15 mg) in combination with MTX was consistent with that observed in the previously reported integrated Phase 3 safety analysis in rheumatoid arthritis, with no new safety risks detected.
In addition, approximate two-year data (96 weeks) from the SELECT-EARLY (upadacitinib, 15 mg and 30 mg) and SELECT-COMPARE clinical trials showed that upadacitinib was effective in inhibiting structural joint damage as monotherapy or in combination with MTX.
RINVOQ, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is approved as an oral, once daily, 15 mg therapy for adults with moderate to severe active rheumatoid arthritis.
Results of the Long-Term Extension of the SELECT-COMPARE study showed that RINVOQ plus MTX maintained higher levels of clinical response, including remission compared to adalimumab plus MTX, through week 72.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) announced new long-term results showing that once daily upadacitinib continued to improve signs and symptoms in patients with rheumatoid arthritis at 72 and 84 weeks in the SELECT-COMPARE and SELECT-MONOTHERAPY (upadacitinib, 15 mg and 30 mg) Phase 3 clinical trials, respectively. RINVOQ, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is approved as an oral, once daily, 15 mg therapy for adults with moderate to severe active rheumatoid arthritis. In addition, approximate two-year data (96 weeks) from the SELECT-EARLY (upadacitinib, 15 mg and 30 mg) and SELECT-COMPARE clinical trials showed that upadacitinib was effective in inhibiting structural joint damage as monotherapy or in combination with MTX. | (RTTNews) - AbbVie (ABBV) announced new long-term results showing that once daily upadacitinib continued to improve signs and symptoms in patients with rheumatoid arthritis at 72 and 84 weeks in the SELECT-COMPARE and SELECT-MONOTHERAPY (upadacitinib, 15 mg and 30 mg) Phase 3 clinical trials, respectively. RINVOQ, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is approved as an oral, once daily, 15 mg therapy for adults with moderate to severe active rheumatoid arthritis. The safety profile of upadacitinib (15 mg and 30 mg) monotherapy or upadacitinib (15 mg) in combination with MTX was consistent with that observed in the previously reported integrated Phase 3 safety analysis in rheumatoid arthritis, with no new safety risks detected. | (RTTNews) - AbbVie (ABBV) announced new long-term results showing that once daily upadacitinib continued to improve signs and symptoms in patients with rheumatoid arthritis at 72 and 84 weeks in the SELECT-COMPARE and SELECT-MONOTHERAPY (upadacitinib, 15 mg and 30 mg) Phase 3 clinical trials, respectively. RINVOQ, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is approved as an oral, once daily, 15 mg therapy for adults with moderate to severe active rheumatoid arthritis. The safety profile of upadacitinib (15 mg and 30 mg) monotherapy or upadacitinib (15 mg) in combination with MTX was consistent with that observed in the previously reported integrated Phase 3 safety analysis in rheumatoid arthritis, with no new safety risks detected. | (RTTNews) - AbbVie (ABBV) announced new long-term results showing that once daily upadacitinib continued to improve signs and symptoms in patients with rheumatoid arthritis at 72 and 84 weeks in the SELECT-COMPARE and SELECT-MONOTHERAPY (upadacitinib, 15 mg and 30 mg) Phase 3 clinical trials, respectively. RINVOQ, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is approved as an oral, once daily, 15 mg therapy for adults with moderate to severe active rheumatoid arthritis. In addition, approximate two-year data (96 weeks) from the SELECT-EARLY (upadacitinib, 15 mg and 30 mg) and SELECT-COMPARE clinical trials showed that upadacitinib was effective in inhibiting structural joint damage as monotherapy or in combination with MTX. |
24532.0 | 2020-06-03 00:00:00 UTC | Why Editas Medicine Is Now the CRISPR Stock to Really Watch | ABBV | https://www.nasdaq.com/articles/why-editas-medicine-is-now-the-crispr-stock-to-really-watch-2020-06-03 | nan | nan | Based on market cap, CRISPR Therapeutics (NASDAQ: CRSP) ranks as the top biotech focused on developing CRISPR gene-editing therapies. It's more than 2 1/2 times the size of Editas Medicine (NASDAQ: EDIT) and nearly four times larger than Intellia Therapeutics (NASDAQ: NTLA).
But based on stock performance so far in 2020, Intellia wins the prize as the hottest CRISPR biotech stock. Its shares have soared more than 40%, thanks in large part to the expansion of its partnership with Regeneron.
While CRISPR Therapeutics and Intellia have captured investors' attention lately, Editas Medicine could now be the CRISPR stock to really watch. There are both near-term and long-term reasons why investors should keep their eyes on this company.
Image source: Getty Images.
Near term
In March, Editas and its partner Allergan announced the dosing of the first patient in a phase 1/2 clinical study evaluating EDIT-101 in treating Leber congenital amaurosis type 10 (LCA10), an inherited form of blindness. Editas CEO Cynthia Collins called it "a truly historic event," as it was the world's first human study of an in vivo (inside the body) CRISPR gene-editing therapy.
Editas' Chief Scientific Officer Charlie Albright stated in the company's Q1 conference call last month that the study "has been cleared to continue based on a review of safety data on the first patient." That's great news, especially considering the pioneering nature of the LCA10 therapy.
I don't necessarily look for this clinical trial to provide a big catalyst for Editas over the next few months, at least not directly. But it could give the biotech an indirect catalyst.
Editas Medicine's experience with EDIT-101 in targeting LCA10 has enabled it to move forward with EDIT-102, a CRISPR therapy targeting another genetic eye disease, Usher syndrome 2A. Allergan is currently reviewing a preclinical data package for the potential licensing of EDIT-102. Editas expects a decision from Allergan on exercising its option for EDIT-102 by the third quarter of 2020.
My hunch is that Allergan will decide to license EDIT-102 unless some safety issue emerges in the phase 1/2 study for EDIT-101. A positive decision would likely cause Editas' shares to jump.
Long term
CRISPR Therapeutics is the leader in developing a CRISPR therapy for treating rare blood diseases sickle cell disease and beta-thalassemia. The company and its partner, Vertex Pharmaceuticals, expect to report additional data from two phase 1/2 studies in progress evaluating CRISPR/Cas9 gene-editing therapy CTX001 later this year.
Editas is behind CRISPR Therapeutics right now. But I won't be surprised if Editas emerges as a winner in sickle cell disease and beta-thalassemia over the long term.
The company plans to file for FDA approval by the end of 2020 to begin clinical testing of EDIT-301 in treating sickle cell disease. EDIT-301 uses its proprietary enzyme Cas12a (also known as Cpf1) instead of Cas9, the enzyme most commonly used in CRISPR gene-editing therapies.
Editas thinks that EDIT-301 could be the best-in-class CRISPR therapy for treating both sickle cell disease and beta-thalassemia. One reason behind the biotech's confidence is that the therapy edits the HBG1 and HBG2 genes rather than the BCL11Ae gene targeted by CRISPR Therapeutics' CTX001. Editas believes that this difference will give EDIT-301 a better safety profile than CTX001 will have. The company also thinks that using Cas12a will lead to sustained higher fetal hemoglobin levels than using the Cas9 enzyme will.
Another possibility
There's another intriguing possibility for Editas Medicine. Its partner on EDIT-101, Allergan, was recently acquired by AbbVie (NYSE: ABBV). The primary reason for this deal was for AbbVie to reduce its dependence on Humira, which faces biosimilar competition in the U.S. beginning in 2023.
AbbVie has other arrows in its quiver for offsetting the inevitable loss of revenue from Humira -- notably including its new immunology drugs Rinvoq and Skyrizi. However, the closer the date approaches for Humira's U.S. sales decline, the more I suspect that AbbVie will be interested in making additional smaller deals to boost its top line.
If EDIT-101 is successful in phase 1 testing and advances to phase 2, Editas Medicine could very well be on AbbVie's acquisition radar. The biotech wouldn't be so expensive that it would require AbbVie to take on a lot of additional debt. Buying Editas could also boost AbbVie's oncology program since Editas has several preclinical programs that use CRISPR gene editing in cancer cell therapies.
A speculative play
To be sure, Editas Medicine is a speculative play. For that matter, so are CRISPR Therapeutics and Intellia Therapeutics. All of these biotech stocks face significant risks that their gene-editing therapies won't work or won't be safe. But the possibility of near-term catalysts and the tremendous long-term potential for Editas make this CRISPR biotech one for investors to closely watch.
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Keith Speights owns shares of AbbVie, Editas Medicine, and Vertex Pharmaceuticals. The Motley Fool owns shares of and recommends CRISPR Therapeutics and Editas Medicine. The Motley Fool recommends Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Its partner on EDIT-101, Allergan, was recently acquired by AbbVie (NYSE: ABBV). The primary reason for this deal was for AbbVie to reduce its dependence on Humira, which faces biosimilar competition in the U.S. beginning in 2023. AbbVie has other arrows in its quiver for offsetting the inevitable loss of revenue from Humira -- notably including its new immunology drugs Rinvoq and Skyrizi. | Buying Editas could also boost AbbVie's oncology program since Editas has several preclinical programs that use CRISPR gene editing in cancer cell therapies. Its partner on EDIT-101, Allergan, was recently acquired by AbbVie (NYSE: ABBV). The primary reason for this deal was for AbbVie to reduce its dependence on Humira, which faces biosimilar competition in the U.S. beginning in 2023. | Buying Editas could also boost AbbVie's oncology program since Editas has several preclinical programs that use CRISPR gene editing in cancer cell therapies. Its partner on EDIT-101, Allergan, was recently acquired by AbbVie (NYSE: ABBV). The primary reason for this deal was for AbbVie to reduce its dependence on Humira, which faces biosimilar competition in the U.S. beginning in 2023. | Its partner on EDIT-101, Allergan, was recently acquired by AbbVie (NYSE: ABBV). The primary reason for this deal was for AbbVie to reduce its dependence on Humira, which faces biosimilar competition in the U.S. beginning in 2023. AbbVie has other arrows in its quiver for offsetting the inevitable loss of revenue from Humira -- notably including its new immunology drugs Rinvoq and Skyrizi. |
24533.0 | 2020-06-03 00:00:00 UTC | Abbvie Stock is Offering Investors an Oil Yield Without Oil’s Risk | ABBV | https://www.nasdaq.com/articles/abbvie-stock-is-offering-investors-an-oil-yield-without-oils-risk-2020-06-03 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
How would you like the yield of an oil stock without the risks of buying one? That’s what you can get with Abbvie (NASDAQ:ABBV). The beta on ABBV stock is 0.78; The similarly yielding but more-risky Chevron (NYSE:CVX) sports a beta of 1.33.
Source: Piotr Swat / Shutterstock.com
Abbvie is best known for the immunosuppressant Humira, used to treat arthritis. The stock opened for trade June 2 at about $91.50 a share. It has a below-market price to earnings ratio of 16.5. It also has a $1.18 per share dividend that currently yields 5.2%, and the earnings to pay for it.
But high yields come with risks. In this case, it’s the problem of replacing revenue from Humira, the best-selling and most-advertised prescription drug on the market.
Fortunately, Abbvie has a plan for that.
The Monopoly Problem
Humira has been bringing Abbvie $20 billion a year and the company has been pushing its price aggressively. While the drug has been around since 2002, Abbvie built a thicket of patents around it that would maintain its monopoly through 2034.
Generic drug makers finally agreed to keep competing biosimilars off the market until 2023, but that date has been hanging over Abbvie. It’s why the stock has remained a bargain. The problem is similar to that of Gilead (NASDAQ:GILD), which sold for less than 10 times earnings while it was dependent on its Hepatitis-C treatments .
Merging Allergan
The solution to the Humira problem was to spend $63 billion on Allergan, the maker of Botox and other drugs. That deal was completed just last month. The impact of Allergan on Abbvie results won’t be known until the end of July, when the company reports earnings for its June quarter.
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Right now, analysts are more optimistic than management, expecting $2.33 per share of earnings on $8.11 billion of revenue. Management, however, expects earnings of just $2.10-2.16 a share, with full-year earnings of $9.61-9.71. That’s still about twice the annual dividend payout of $4.72, however. So far in 2020, Abbvie is up just 2%, recovering from a pandemic low of $64.50 and now $7 a share short of its February high.
Analysts are celebrating the combination. One called the current Abbvie price “unsustainably cheap.” Revenue is now expected to reach $56 billion in 2023. EPB Macro Research calls the company a “post-merger powerhouse.”
Maybe. Before the merger, Allergan was known for “suboptimal performances” under former CEO Brent Saunders, who gets $38.7 million to go away. He’s best known for trying to sell Allergan, which he had based in Ireland for tax reasons, to Pfizer (NYSE:PFE), a deal nixed by the Obama administration.
Curing the Humira Headache
While Allergan was best known for Botox and Juvederm, injected to remove facial wrinkles, it’s the company’s new drug pipeline that is the key.
For instance, Allergan is now rolling out a migraine medicine called Ubrelvy. This costs about $850 for 10 tablets through GoodRX. The formulation was approved late last year.
Ubrelvy is competing against an Eli Lilly (NYSE:LLY) drug called Reyvow, which costs $640 for 8 tablets.
Abbvie also has high hopes for Oriahnn and Orilissa, which reduce menstrual bleeding and can prevent uterine fibroids, a leading cause of hysterectomies. The company has filed to use Rinvoq, its rheumatoid arthritis treatment, on psoriatic arthritis as well. It has also signed a deal to market cancer drugs from Jacobio Pharmaceuticals.
Bottom Line on ABBV Stock
The Allergan pipeline has been lined up to replace Humira revenue as competition in its niche heats up.
There’s still risk. Buying Allergan sent Abbvie’s debt-to-assets ratio to 77%. There remains the risk that a Democratic administration could go after companies like Abbvie on pricing, which would make that debt harder to pay off.
Right now, however, those concerns are being shrugged off. They’re lower than the risks you’ll find in oil stocks. For income investors ABBV stock looks like a bargain.
Dana Blankenhorn has been a financial and technology journalist since 1978. He is the author of the environmental thriller Bridget O’Flynn and the Bear, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this story.
The post Abbvie Stock is Offering Investors an Oil Yield Without Oil’s Risk appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbvie also has high hopes for Oriahnn and Orilissa, which reduce menstrual bleeding and can prevent uterine fibroids, a leading cause of hysterectomies. That’s what you can get with Abbvie (NASDAQ:ABBV). The beta on ABBV stock is 0.78; The similarly yielding but more-risky Chevron (NYSE:CVX) sports a beta of 1.33. | The Monopoly Problem Humira has been bringing Abbvie $20 billion a year and the company has been pushing its price aggressively. Bottom Line on ABBV Stock The Allergan pipeline has been lined up to replace Humira revenue as competition in its niche heats up. The post Abbvie Stock is Offering Investors an Oil Yield Without Oil’s Risk appeared first on InvestorPlace. | The Monopoly Problem Humira has been bringing Abbvie $20 billion a year and the company has been pushing its price aggressively. The post Abbvie Stock is Offering Investors an Oil Yield Without Oil’s Risk appeared first on InvestorPlace. That’s what you can get with Abbvie (NASDAQ:ABBV). | The Monopoly Problem Humira has been bringing Abbvie $20 billion a year and the company has been pushing its price aggressively. That’s what you can get with Abbvie (NASDAQ:ABBV). The beta on ABBV stock is 0.78; The similarly yielding but more-risky Chevron (NYSE:CVX) sports a beta of 1.33. |
24534.0 | 2020-06-02 00:00:00 UTC | AbbVie Will Be in Big Trouble When Its Patent Cliff Arrives | ABBV | https://www.nasdaq.com/articles/abbvie-will-be-in-big-trouble-when-its-patent-cliff-arrives-2020-06-02 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
AbbVie (NASDAQ:ABBV) is in the midst of a transition. AbbVie began life about a decade ago when it was spun off from health care and medical devices company Abbott (NYSE:ABT). Now, however, AbbVie must adapt quickly or ABBV stock will be in big trouble.
Up until recently, AbbVie relied on its blockbuster Humira drug for around 60% of its revenue. However, it could lose most of those sales over the next few years, as Humira’s patent protection will disappear in 2023. With that coming headwind in mind, AbbVie has done some M&A deals to diversify its revenues.
One such deal was buying Allergan. AbbVie spent more than $60 billion on Allergan to try to fill its upcoming Humira revenue hole. Even so, the new, enlarged AbbVie still relies on Humira for around 40% of its overall revenues. With a great deal of that revenue set to disappear in 2023, why have investors been bidding up ABBV stock recently?
AbbVie’s Dividend Is Its Main Attraction
AbbVie has attracted a ton of attention from investors primarily because it pays a huge dividend. Many healthcare companies tend to have a dividend yield of 2%-3%. I suspect that if AbbVie paid a similarly modest yield, its stock would be much less popular with individual investors.
But because of AbbVie’s huge yield, investors have flocked to the stock. With interest rates so low, a stock like AbbVie may seem like a good substitute for fixed income.
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Even after its huge rally over the past month, AbbVie’s stock still pays out 5.2%. And in a recessionary economy, pharma may seem like a safe haven.
AbbVie’s High Yield Reflects Its Inherent Risk
Sometimes a company offers a high dividend simply because the market is underestimating its prospects. In many cases, however, a company’s dividend yield is elevated because analysts think there’s a strong risk that its profits (and thus its dividends) will decline in the future.
And that’s very much the case with AbbVie. It’s far from certain that AbbVie will be able to keep anything close to its current level of profitability once its Humira patents expire.
While there are always exceptions, in general, drug companies shouldn’t pay a high dividend; yields of 5% and up are dangerous. That’s because drug makers have to reinvest so much of their profits in research and development. After all, new drugs must be found to replace the ones that stop producing revenues.
When drug companies’ dividend yields are high, it’s often because their main products are about to no longer be covered by patents.
Most experienced investors see that risk and run for the hills. Meanwhile, yield-seeking investors are attracted to the cash flow of blockbuster drugs. But what is going to happen once the companies’ revenues start trending down?
A good example is Gilead (NASDAQ:GILD). In the past, the owners of its shares fixated on its past results rather than thinking about its future. From June 2015 to March 2017, its shares nearly got cut in half, and the stock traded at a price-earnings ratio of ten or less the whole way down.
AbbVie’s Numbers Don’t Look Great
Humira has been a key asset for AbbVie since it spun off from Abbott. Humira’s annual sales grew from an already tremendous $8 billion in 2011 all the way to $20 billion in 2018.
But the drug’s sales have started to fall now, as generic versions of it have been launched in some countries outside the U.S. Its sales fell to $19 billion in 2019, giving the slightest taste of what things will look like after 2023 when Humira will be totally off-patent and its revenues will subsequently collapse.
For comparison’s sake, AbbVie’s entire business generated $34 billion of revenue last year, and produced $8.4 billion of net income. Slice off most of Humira’s sales and the company’s results will drop massively.
Sure, Allergan will help to some extent. But AbbVie paid a steep price for Allergan and now has a whopping $63 billion of long-term debt.
AbbVie paid out $6.5 billion of dividends last year. Once its nearly $20 billion of annual Humira revenues start to disappear, it may pare back its massive dividend .
The Verdict on ABBV Stock
AbbVie simply can’t be judged based on its 2019 earnings and dividend. The real question is what its results will look like in 2023 and 2024 as its revenue starts to plunge during the beginning of the post-Humira era.
I’ve seen little evidence indicating that it will be able to replace its current profits after the patent cliff arrives. The Allergan deal looks like a risky and potentially even desperate measure. For a company with debt and declining revenues, an easy fix is reducing the dividend.
Particularly in the post-coronavirus world, when companies are slashing their dividends left and right, AbbVie can easily justify a similar move. Thus, dividend investors should steer clear of AbbVie stock for the time being.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. At the time of this writing, he owned Gilead stock.
The post AbbVie Will Be in Big Trouble When Its Patent Cliff Arrives appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie began life about a decade ago when it was spun off from health care and medical devices company Abbott (NYSE:ABT). I suspect that if AbbVie paid a similarly modest yield, its stock would be much less popular with individual investors. Particularly in the post-coronavirus world, when companies are slashing their dividends left and right, AbbVie can easily justify a similar move. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips AbbVie (NASDAQ:ABBV) is in the midst of a transition. Up until recently, AbbVie relied on its blockbuster Humira drug for around 60% of its revenue. AbbVie’s High Yield Reflects Its Inherent Risk Sometimes a company offers a high dividend simply because the market is underestimating its prospects. | AbbVie spent more than $60 billion on Allergan to try to fill its upcoming Humira revenue hole. AbbVie’s Dividend Is Its Main Attraction AbbVie has attracted a ton of attention from investors primarily because it pays a huge dividend. AbbVie’s High Yield Reflects Its Inherent Risk Sometimes a company offers a high dividend simply because the market is underestimating its prospects. | With a great deal of that revenue set to disappear in 2023, why have investors been bidding up ABBV stock recently? InvestorPlace - Stock Market News, Stock Advice & Trading Tips AbbVie (NASDAQ:ABBV) is in the midst of a transition. AbbVie began life about a decade ago when it was spun off from health care and medical devices company Abbott (NYSE:ABT). |
24535.0 | 2020-06-02 00:00:00 UTC | iShares Edge MSCI USA Momentum Factor ETF Experiences Big Outflow | ABBV | https://www.nasdaq.com/articles/ishares-edge-msci-usa-momentum-factor-etf-experiences-big-outflow-2020-06-02 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Edge MSCI USA Momentum Factor ETF (Symbol: MTUM) where we have detected an approximate $177.2 million dollar outflow -- that's a 1.8% decrease week over week (from 76,150,000 to 74,750,000). Among the largest underlying components of MTUM, in trading today Lilly (Eli) & Co (Symbol: LLY) is up about 0.2%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.1%, and AbbVie Inc (Symbol: ABBV) is higher by about 1%. For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average:
Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $126.35. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of MTUM, in trading today Lilly (Eli) & Co (Symbol: LLY) is up about 0.2%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.1%, and AbbVie Inc (Symbol: ABBV) is higher by about 1%. For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average: Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $126.35. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of MTUM, in trading today Lilly (Eli) & Co (Symbol: LLY) is up about 0.2%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.1%, and AbbVie Inc (Symbol: ABBV) is higher by about 1%. For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average: Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $126.35. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of MTUM, in trading today Lilly (Eli) & Co (Symbol: LLY) is up about 0.2%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.1%, and AbbVie Inc (Symbol: ABBV) is higher by about 1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Edge MSCI USA Momentum Factor ETF (Symbol: MTUM) where we have detected an approximate $177.2 million dollar outflow -- that's a 1.8% decrease week over week (from 76,150,000 to 74,750,000). For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average: Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $126.35. | Among the largest underlying components of MTUM, in trading today Lilly (Eli) & Co (Symbol: LLY) is up about 0.2%, Bristol-Myers Squibb Co. (Symbol: BMY) is off about 0.1%, and AbbVie Inc (Symbol: ABBV) is higher by about 1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Edge MSCI USA Momentum Factor ETF (Symbol: MTUM) where we have detected an approximate $177.2 million dollar outflow -- that's a 1.8% decrease week over week (from 76,150,000 to 74,750,000). For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average: Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $126.35. |
24536.0 | 2020-06-02 00:00:00 UTC | AbbVie Stock Is a Winner in the Pharmaceutical Industry | ABBV | https://www.nasdaq.com/articles/abbvie-stock-is-a-winner-in-the-pharmaceutical-industry-2020-06-02 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The Covid-19 pandemic has had serious implications on businesses across the globe, but AbbVie (NYSE:ABBV) stock is thriving amidst the chaos. As the virus continues to spread across the nation with the emergence of new hotspots, the need for a vaccine is now greater than ever.
Source: Piotr Swat / Shutterstock.com
The public health crisis threw many pharmaceutical businesses like AbbVie into the spotlight, but the company handled the ongoing crisis better than its competitors. ABBV stock reported first-quarter earnings early in May and beat industry estimates. They earned revenue of $8.6 billion with earnings per share at $2.02. As companies see their market valuations evaporate, ABBV stock proves to be a safe bet for investors in an increasingly volatile market.
Humira Shines In U.S Markets
ABBV stock faced numerous challenges in 2019 and acquired Humira with hopes of diversifying their growth. The pharmaceutical company that specializes in treatment for Crohn’s disease and psoriasis did not perform as expected in international markets. The sales of the drugs were down by $4.31 billion (or 31.1%). This was largely due to competition from Humira biosimilars.
7 Travel Stocks to Buy as the Pandemic Fades
However, Humira was able to make some serious headway in U.S markets, where they earned a revenue of $3.7 billion and saw a 13.7% increase in sales in the first quarter. ABBV stock’s national earnings were able to offset their international losses. Humira continues to receive approvals from the FDA and recently scored a marketing approval that allows them to increase the Q2W dosage based on safety evaluations.
AbbVie’s growth is fueled by Humira’s local success, along with drugs like Imbruvica, Venclexta and Skyrizi that earned $300 million in revenue this year. These products help the company’s growth remain stable, making ABBV stock a sound investment.
Allergan Leads The Way
In 2019, AbbVie made a bold move and acquired the Botox company, Allergan, for $63 billion. While the company was met with some roadblocks during initial talks, the acquisition was successfully completed on May 11. Analysts estimate that it will add another $30 billion in revenue, bringing AbbVie’s 2020 revenues to a total of $50 billion.
The acquisition of Allergan included a $41 billion cash payout which had a significant impact on AbbVie’s balance sheet. In an effort to curtail its debt, the company issued $30 billion in unsecured notes to bankroll the acquisition. Their current debt-to-asset ratio is 76.9%.
However, ABBV stock’s long-term prospects of the acquisition remain fundamentally robust. Allergan will allow AbbVie to diversify its product portfolio in the fields of oncology and neuroscience while growing its revenue base. A combination of new assets and financial freedom will help it capitalize on innovation and develop new products for the unmet needs in the market.
Another game-changer for ABBV stock is Allergan’s best-selling product: Botox. In Q4 of 2019, the product generated $1 billion in revenue for the company. Now part of AbbVie’s docket, new innovations in Botox could result in gargantuan revenues for the company.
What makes Botox unique is that no biosimilars for the product currently exist in the market, making AbbVie a monopoly in this field. Its CEO also claims that creating a copycat version of the product is, by no means, an easy feat.
ABBV Stock Is a Winner for Dividends
AbbVie’s acquisitions have set them up for long-term success and this is reflective in ABBV stock’s prices. ABBV stock is a shining star in the pharmaceutical industry and saw a 4.02% shift in prices this year. The stock pays $1.18 per share with a dividend yield of 5.12% which is lightyears ahead of the S&P 500’s yield of 2.11%.
ABBV stock’s dividend payout has increased by 5 times in the last five years, which equates to an annual average increase of 21.75%. In just the past year, the company’s dividend increased by 10.3%. Given the successful acquisition of Allergan, analysts predict that dividends will only continue to increase in the coming years.
Moreover, AbbVie maintains a healthy cash dividend payout ratio of 49% which is a testament to their ability to pay dividends in the long-term. ABBV stock is unlikely to join the slew of pandemic-hit companies that have axed dividends.
The Bottom Line
ABBV stock has emerged relatively unscathed from the ongoing crisis. As companies struggle to keep their heads above water, AbbVie has successfully acquired a major player in the pharmaceutical industry while making waves with Humira in the U.S market.
This is in addition to the high dividend yield that investors benefit from, alluding to the sentiment that all hope is not lost in our pandemic-stricken society. ABBV stock is expected to dish out some serious returns in the upcoming years so we recommend you stay bullish on this buy despite the company’s high debt levels.
Divya Premkumar has a finance degree from the University of Houston, Texas. She is a financial writer and analyst who has written stories on various financial topics from investing to personal finance. Divya has been writing for Investor Place since 2020. As of this writing, Divya Premkumar did not own any of the aforementioned stocks.
The post AbbVie Stock Is a Winner in the Pharmaceutical Industry appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As companies struggle to keep their heads above water, AbbVie has successfully acquired a major player in the pharmaceutical industry while making waves with Humira in the U.S market. ABBV stock is expected to dish out some serious returns in the upcoming years so we recommend you stay bullish on this buy despite the company’s high debt levels. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Covid-19 pandemic has had serious implications on businesses across the globe, but AbbVie (NYSE:ABBV) stock is thriving amidst the chaos. | Humira Shines In U.S Markets ABBV stock faced numerous challenges in 2019 and acquired Humira with hopes of diversifying their growth. These products help the company’s growth remain stable, making ABBV stock a sound investment. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Covid-19 pandemic has had serious implications on businesses across the globe, but AbbVie (NYSE:ABBV) stock is thriving amidst the chaos. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Covid-19 pandemic has had serious implications on businesses across the globe, but AbbVie (NYSE:ABBV) stock is thriving amidst the chaos. As companies see their market valuations evaporate, ABBV stock proves to be a safe bet for investors in an increasingly volatile market. ABBV Stock Is a Winner for Dividends AbbVie’s acquisitions have set them up for long-term success and this is reflective in ABBV stock’s prices. | ABBV Stock Is a Winner for Dividends AbbVie’s acquisitions have set them up for long-term success and this is reflective in ABBV stock’s prices. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Covid-19 pandemic has had serious implications on businesses across the globe, but AbbVie (NYSE:ABBV) stock is thriving amidst the chaos. Source: Piotr Swat / Shutterstock.com The public health crisis threw many pharmaceutical businesses like AbbVie into the spotlight, but the company handled the ongoing crisis better than its competitors. |
24537.0 | 2020-06-02 00:00:00 UTC | 3 Stocks With Dividends Yielding More Than 3% | ABBV | https://www.nasdaq.com/articles/3-stocks-with-dividends-yielding-more-than-3-2020-06-02 | nan | nan | Dividend yield is an important factor investors consider when choosing a dividend stock to invest in. A high yield might be unsustainable, while a low one might not be enticing enough to attract investors. The typical yield from an S&P 500 stock is about 2% per year. However, investors can still do better than that without putting their portfolios at risk. Here are three stocks paying more than 3% that are safe buys today.
1. AbbVie
AbbVie (NYSE: ABBV) is a global drug manufacturer that got a whole lot stronger and more diversified this year. On May 8, the company officially completed its acquisition of Allergan. The $63 billion deal will give AbbVie access to Ubrelvy, a key migraine drug the Food and Drug Administration (FDA) approved in December.
On its own, AbbVie generated more than $30 billion in revenue in each of the past two years, and its profit margin has been north of 17% in each of the past five years. AbbVie was a strong company even before the Allergan acquisition. Allergan, which is based in Ireland, has recorded revenue of more than $15 billion in each of the past three years. For two years in a row, its bottom line has come in at more than $5 billion, which amounts to a profit margin of more than 32%.
Image source: Getty Images.
With the acquisition, AbbVie is a stronger company, and that's great news for dividend investors, especially during the COVID-19 pandemic. It's a Dividend Aristocrat that has increased its dividend for more than 40 years in a row, including back when it was part of Abbott Labs. Currently, it pays a dividend of $1.18 per share, which yields 5.2% annually. The North Chicago-based company has increased its dividends by 195% since its inception in 2013.
2. Public Storage
Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that's in the self-storage business. According to its website, it's the largest such operator in the entire world, with more than 170 million net rentable square feet. Self-storage can be incredibly valuable during the COVID-19 pandemic if people who have been impacted by job cuts need to downsize their living spaces -- putting items into storage can help them do that.
As a REIT, the company is required to pay out at least 90% of its net income to shareholders. The good news for investors is that Public Storage hasn't had a problem producing a strong profit. In 2019, its funds from operations (FFO) per share were $10.58, which grew from $10.45 in 2018 and $9.70 in 2017. FFO is what investors typically look at instead of net income when evaluating REITs.
The Glendale-based company released its first-quarter results of 2020 on March 31. In Q1, Public Storage reported $2.61 in FFO per share, up from $2.52 in the prior-year period. It's still doing well during the pandemic, but the company concedes that sales will likely drop from 2019.
However, with strong profits, the REIT still looks to be in great shape today. Currently, the company pays a quarterly dividend of $2 per share, which pays 4% per year. Public Storage last increased its dividend back in 2016.
3. 3M
3M (NYSE: MMM) has been a good stock to own recently, as its safety products have been in high demand during the outbreak of COVID-19. In first-quarter results, which 3M released on April 28, sales were up 2.7% year over year. While that might seem like modest growth, it's a better growth rate than the 1.5% of 2017 to 2019.
In the news release, the company's chairman and CEO, Mike Roman, credited 3M's diversity of products as one of the key reasons for its mixed results during the pandemic. In Q1, its healthcare segment saw revenue growth of 21% from the prior-year period, while safety and industrial product sales fell by 1%. Transportation and electronic revenue saw a 5% dip from the same time last year.
Dividend investors prefer diverse businesses, which are much more versatile than those that depend on just one industry or sector of the market. In 3M's case, that isn't a concern.
Currently, the stock pays investors a quarterly dividend of $1.47, which yields 3.7%. While it's the lowest payout on this list, 3M is a Dividend King, and it has increased its payouts for 62 years in a row. In February, the company hiked its payouts by 2%, from $1.44 to $1.47.
Which stock should you buy today?
Thus far, only 3M has underperformed the S&P 500 in 2020:
MMM data by YCharts.
AbbVie is the only stock that's positive, with a return of more than 1% year to date.
There are some good options here for investors. If you want to get the most bang for your buck, AbbVie looks to be the best buy today. Not only does it pay the highest yield, but it's also got a strong track record for increasing its dividend payments over the years. And now that the healthcare company has gotten stronger as a result of its recent acquisition, its future might be even more stable than before.
10 stocks we like better than 3M
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie AbbVie (NYSE: ABBV) is a global drug manufacturer that got a whole lot stronger and more diversified this year. The $63 billion deal will give AbbVie access to Ubrelvy, a key migraine drug the Food and Drug Administration (FDA) approved in December. On its own, AbbVie generated more than $30 billion in revenue in each of the past two years, and its profit margin has been north of 17% in each of the past five years. | With the acquisition, AbbVie is a stronger company, and that's great news for dividend investors, especially during the COVID-19 pandemic. AbbVie AbbVie (NYSE: ABBV) is a global drug manufacturer that got a whole lot stronger and more diversified this year. The $63 billion deal will give AbbVie access to Ubrelvy, a key migraine drug the Food and Drug Administration (FDA) approved in December. | AbbVie AbbVie (NYSE: ABBV) is a global drug manufacturer that got a whole lot stronger and more diversified this year. The $63 billion deal will give AbbVie access to Ubrelvy, a key migraine drug the Food and Drug Administration (FDA) approved in December. On its own, AbbVie generated more than $30 billion in revenue in each of the past two years, and its profit margin has been north of 17% in each of the past five years. | With the acquisition, AbbVie is a stronger company, and that's great news for dividend investors, especially during the COVID-19 pandemic. AbbVie AbbVie (NYSE: ABBV) is a global drug manufacturer that got a whole lot stronger and more diversified this year. The $63 billion deal will give AbbVie access to Ubrelvy, a key migraine drug the Food and Drug Administration (FDA) approved in December. |
24538.0 | 2020-06-02 00:00:00 UTC | 7 High-Dividend Stocks With Durable Distributions | ABBV | https://www.nasdaq.com/articles/7-high-dividend-stocks-with-durable-distributions-2020-06-02 | nan | nan | The market's violent rebound since the March 23 lows has been a welcome relief for long-term shareholders and a boon for dip buyers. But one group of investors has actually been put out by the rally: income investors looking to put dry powder to work in high-dividend stocks.
As the S&P 500 has crashed and recovered, its yield has whipsawed. The blue-chip index yielded roughly 1.8% to start 2020, jumped all the way to 2.3% as of March, and has dipped back below 2%. That might not sound like much, but remember: That's the average among 500 large-cap companies. The swings across the broader stock market have been much more pronounced, and several high-yield dividend opportunities have disappeared as a result.
Several ... but not all.
Hundreds of high-dividend stocks still deliver payouts of more than 5%. The problem is that some of those dividends belong to distressed companies that might not be able to continue funding their ample cash distributions.
One way to protect yourself is to prioritize signs of dividend health, using the DIVCON system from exchange-traded fund provider Reality Shares. DIVCON uses a five-tier rating to provide a snapshot of companies' dividend health. DIVCON 5 indicates the highest probability for a dividend increase, while DIVCON 1 signals the highest probability for a cut. Within each of these ratings is a composite score determined by free cash flow-to-dividend ratios, profit growth, stock buybacks (which companies can pull back on to fund a dividend in a pinch) and other factors.
Here are seven high-dividend stocks that have been identified for their payout strength. Nothing is certain, of course - so far this year, a few companies with well-funded distributions nonetheless pulled the plug to ensure their survival throughout the pandemic. Still, each stock has a rating of DIVCON 4, which signals a healthy dividend not just likely to survive, but to grow.
SEE ALSO: 25 Dividend Stocks the Analysts Love the Most
Metlife
Market value: $33.0 billion
Dividend yield: 5.1%
DIVCON Rating: 4
DIVCON Score: 60.75
Metlife (MET, $36.37) is a one of the world's largest insurance companies, and one that's closing in on 150 years of operation. It provides life, auto and home insurance, annuities, employee benefit programs and more to about 100 million customers, and boasts contracts with more than 90 of the Fortune 500's top 100 companies.
And like most insurers, it has been hobbled in 2020.
Call it par for the course. Insurance stocks typically sell off rapidly in the face of all sorts of disasters, though investors often overestimate just how bad coverable losses will actually be. Nonetheless, MET stock remains 28% lower from where it started the year, keeping its yield just above the 5% mark for now.
No one's losing sleep over the dividend, however. In late April, Metlife announced a 4.5% increase to its quarterly distribution, to 46 cents per share. That just barely qualifies it for this list of high-dividend stocks, at a 5.1% yield. The annualized payment comes out to a mere 34% of this year's expected profits of $5.38 per share, which the pros expect will rebound in 2021 to $5.96.
DIVCON points out a few other factors to make income investors feel warm and cuddly. Free cash flow over the past 12 months has been enough to cover the payout many times over, and a 125% repurchases-to-dividends ratio means that Metlife has ample room to rein in buybacks should it really need to conserve cash to preserve the dividend. A high Bloomberg dividend health score of 57 is encouraging, too. (Bloomberg uses a -100 to 100 scale in which a positive reading signals potential for dividend growth.)
Metlife's situation is expected to improve from here. JPMorgan's Jimmy Bhullar (Overweight, equivalent of Buy) writes that management "expects spread margins to be stable or improve slightly despite the low rate environment, and that "strong dental margins and a potential improvement in disability margins should help group benefits results."
Wall Street's $42.25 average price target on MET stock implies 16% upside over the next year, too. That comes from a generally bullish camp of nine Buys versus just five Holds.
SEE ALSO: 11 Monthly Dividend Stocks and Funds for Reliable Income
International Business Machines
Market value: $110.9 billion
Dividend yield: 5.2%
DIVCON Rating: 4
DIVCON Score: 57.75
International Business Machines (IBM, $124.89) has long been dogged by its inability to get ahead in cloud computing. However, it made considerable progress on that front in 2019 when it bought Red Hat for $34 billion.
IBM shares have been just a bit above average in 2020, losing a little more than 5% versus a roughly 7% loss for the S&P 500. Really, the tech stock's yield is more a product of slow but steady declines over the past few years versus a persistently growing dividend. In fact, with a penny-per-share hike to its quarterly dividend, to $1.63 per share, announced in April, IBM marked its 25th consecutive year of payout raises, qualifying it for inclusion in the Dividend Aristocrats.
The mere fact that IBM hiked its payout in the midst of a bear market and likely recession alone are reasons to believe the payout will survive. But the company also pays out a very manageable 58% of analysts' already lowered expectations for profits this year.
DIVCON also gives the dividend high safety marks thanks to FCF that's roughly 450% what it needs to pay the dividend. A high Altman Z-score indicates not a trace of bankruptcy threat, too. (Altman Z, which measures a company's credit strength, deems anything with a score of 3 or more to have a low to negligible probability of bankruptcy.)
Whether this high-dividend stock can deliver more than just high income is up in the air, however.
The analyst community currently has five Buys, 13 Holds and two Sells on IBM stock. For instance, BMO Capital analyst Keith Bachman, who has a Market Perform rating (equivalent of Hold) on shares, is worried about the broader macro backdrop, though he acknowledges that Red Hat should provide more durability.
SEE ALSO: 32 Ways to Earn Up to 9% on Your Money Now
AbbVie
Market value: $159.8 billion
Dividend yield: 5.2%
DIVCON Rating: 4
DIVCON Score: 59
AbbVie (ABBV, $90.70) is a pharmaceutical company that's primarily known for Humira, which treats several conditions (including rheumatoid arthritis and plaque psoriasis) and accounts for a whopping 60% of sales. But it does have other products, including cancer drugs Imruvica and Venclexta, as well as psoriasis treatment Rinvoq.
Humira's core patents expired in 2016, and while AbbVie has obtained certain protections, it know it can't rely on the drug for revenues forever. Enter the company's merger with Allergan, which closed in May, that tucks blockbusters including wrinkle treatment Botox and dry-eye drug Restasis into AbbVie's lineup. The combined company should produce $30 billion in annual sales.
The company also has a considerable debt to pay down, but that shouldn't interfere with AbbVie's dividend, which has been growing for 48 consecutive years if you count its time joined with Abbott Laboratories (ABT), which S&P Dow Jones Indices (creator of the S&P 500 Dividend Aristocrats) does.
"ABBV is trading at close to historical lows and we see cash-flow support for the current sector-high dividend. Both should help support (the) shares into anticipated recovery," writes RBC Capital's Randall Stanicky, who rates shares at Outperform. "Our investment thesis on AbbVie is based on our view that (the company) will generate double-digit near-term growth on the back of price and loss catchup in 2021 and strength of core franchises."
Analysts on average expect ABBV to generate $10.28 in earnings per share in 2020. That's more than twice what the company would need to fund its payout. Free cash flow over the past 12 months has been 658% of what's necessary to fund the dividend, too.
SEE ALSO: 19 Dividend Aristocrats That Have Gone on Deep Discount
Interpublic Group of Companies
Market value: $6.8 billion
Dividend yield: 5.8%
DIVCON Rating: 4
DIVCON Score: 56.75
"It goes without saying that uncertainty and anxiety as a result of the devastating COVID-19 pandemic have generated significant challenges."
So writes Michael Roth, CEO of Interpublic Group of Companies (IPG, $17.47), in the company's first-quarter earnings report. No surprise there. Interpublic is an advertising and marketing company, and with economic activity momentarily slowed to a snail's pace, businesses across the country natural started shutting down their ad and marketing spend. For example, an Influencer Marketing Hub survey carried out before the end of March showed that nearly 70% of brands expected to decrease ad spend in 2020.
Wall Street is forecasting a 30% year-over-year decline in profits to $1.35 per share in 2020. And a 24% decline in IPG shares has baked in much of that pessimism. However, those projected earnings are more than enough to cover the cost of $1.02 in payouts across this year, based on a 25.5-cent payout that's 8.5% larger than it was a year ago.
DIVCON's data also shows that the company's FCF/dividend coverage is a plenty healthy 380% over the trailing 12 months, and a Bloomberg dividend health score of 13.8 shows some potential for increases from here. But a recovery in its operations would go a long way toward firming up the case for future hikes.
From a profit perspective, that looks likely. Analysts are modeling a 22% rebound in 2021 earnings to $1.65 per share. But current price targets only imply 7% upside from here, and the Street is lukewarm, giving the stock five Buys, five Holds and two Sells. As far as high-dividend stocks are concerned, that's not bad, but not great either. The high yield will help pad returns, however.
SEE ALSO: 23 Dividend Cuts and Suspensions Chalked Up to the Coronavirus
People's United Financial
Market value: $5.0 billion
Dividend yield: 6.1%
DIVCON Rating: 4
DIVCON Score: 56.25
People's United Financial (PBCT, $11.75) is a lesser-known Dividend Aristocrat that only recently achieved its status among the payout elite. This Northeast regional bank boasts more than 400 locations across states including Connecticut, New York and Massachusetts, and has accumulated more than $60 billion in assets.
Like insurers, bank stocks such as People's have declined in 2020 over concerns not just about economic activity, but also low interest rates, which hobble banks' returns on their lending products. PBCT has held up a little better than the sector, however, at 23% losses versus about 30% for financials as a whole.
People's at least enjoyed a strong start to 2020. Operating income was up 15% year-over-year, average balances on loans improved, and the company was confident enough to hike its payout for a 27th consecutive year, to 18 cents per share. So even though analysts forecast a 23% decline in profits to $1.07 per share this year, that still translates to a 67% payout ratio. Plenty of breathing room for the dividend. PBCT also generates enough free cash flow to cover that payout numerous times over.
Investors, however, might want to wait for short-term dip before buying.
While a yield of 6% firmly entrenches PBCT among high-dividend stocks already, analysts are looking for a mere 4% upside from current prices over the next 12 months. Eleven of 12 analysts tracked by Wall Street Journal have the stock at a Hold, too, with the 12th saying Buy.
Unum Group
Market value: $3.3 billion
Dividend yield: 7.1%
DIVCON Rating: 4
DIVCON Score: 57.5
Unum Group (UNM, $16.06) is a disability insurance provider that has been hanging around since 1848, so it has seen more than its fair share of disasters - pandemic and otherwise. The company currently protects 39 million people, and 182,000 businesses in the U.S. and U.K. offer benefits through Unum.
The company unsurprisingly struggled in its first quarter, with much of its profit miss chalked up to COVID-19 related pressures, says Credit Suisse. And in fact, the company suspended its stock repurchases for 2020 while also pulling its annual guidance.
But Unum did say it intended on keeping its dividend at the current rate, which shouldn't be much of a struggle. Unum's payout is exceedingly conservative among high-dividend stocks, at just 22% of expected 2020 profits of $5.22 per share, which has come down from estimates of $5.76 per share over the past quarter or so.
That, a healthy free cash flow-to-dividend payout ratio, as well as a cleanly positive Bloomberg dividend health score of 28.0, are among the reasons why UNM shares have garnered a DIVCON rating of 4.
But while the yield might be safe, analysts are worried about UNM's prospects from here. The Street has just one Buy versus eight Holds and three Sells, one of which came from BofA's Joshua Shanker at the start of June. Shanker started UNM stock at Underperform, citing "overhang from the company's Long Term Care insurance business."
Investors might want to wait for sunnier outlooks before buying Unum's large dip. UNM remains off 45% year-to-date.
SEE ALSO: 13 Dividend Stocks That Have Paid Investors for 100+ Years
Prudential Financial
Market value: $24.0 billion
Dividend yield: 7.2%
DIVCON Rating: 4
DIVCON Score: 57.25
Wall Street might not be red-hot on Prudential Financial (PRU, $60.88), but they're leaning bullishly and see decent upside on what is the biggest yield among these high-dividend stocks.
Prudential is - you guessed it - another insurer, though it also offers investment management services, annuities and other financial products.
It's no minnow, at nearly $1.5 trillion in assets under management, reaped from customers across 40 countries. It's also a great place to look if you're interested in ESG-friendly (environmental, social and corporate governance) companies. Prudential is third in the insurance category of the Forbes / Just Capital 2019 Just 100 list, it made Fortune's 2019 companies that "Change the World," and it's first in Fortune's 2020 list of the World's Most Admired Companies.
PRU shares have been knocked down by 35% year-to-date, however, and it also delivered disappointing revenues and profits for its first quarter. Prudential also has suspended buybacks to conserve cash, but the dividend appears to be safe. The company upped the payout by 10% earlier this year, to $1.10 per share. And while analysts expect a 24% drop in profits this year, to $8.91 per share, that's enough to cover Prudential's dividend a little more than twice over.
Wall Street is more bullish than bearish, if barely, at four Buys versus two Sells, and 10 Holds in the middle. They also project 11% upside over the next 52 weeks, which becomes 18% total returns when you include what can be expected out of the dividend. And despite the lukewarm consensus view, there are reasons to like Prudential. Credit Suisse's pros say its "'fortress balance sheet' allows PRU to think strategically, including M&As coming out of the crisis, but deal would need to meet 'high hurdle' of share buybacks."
SEE ALSO: 15 Super-Safe Dividend Stocks to Buy Now
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | SEE ALSO: 32 Ways to Earn Up to 9% on Your Money Now AbbVie Market value: $159.8 billion Dividend yield: 5.2% DIVCON Rating: 4 DIVCON Score: 59 AbbVie (ABBV, $90.70) is a pharmaceutical company that's primarily known for Humira, which treats several conditions (including rheumatoid arthritis and plaque psoriasis) and accounts for a whopping 60% of sales. Humira's core patents expired in 2016, and while AbbVie has obtained certain protections, it know it can't rely on the drug for revenues forever. Enter the company's merger with Allergan, which closed in May, that tucks blockbusters including wrinkle treatment Botox and dry-eye drug Restasis into AbbVie's lineup. | SEE ALSO: 32 Ways to Earn Up to 9% on Your Money Now AbbVie Market value: $159.8 billion Dividend yield: 5.2% DIVCON Rating: 4 DIVCON Score: 59 AbbVie (ABBV, $90.70) is a pharmaceutical company that's primarily known for Humira, which treats several conditions (including rheumatoid arthritis and plaque psoriasis) and accounts for a whopping 60% of sales. Humira's core patents expired in 2016, and while AbbVie has obtained certain protections, it know it can't rely on the drug for revenues forever. Enter the company's merger with Allergan, which closed in May, that tucks blockbusters including wrinkle treatment Botox and dry-eye drug Restasis into AbbVie's lineup. | SEE ALSO: 32 Ways to Earn Up to 9% on Your Money Now AbbVie Market value: $159.8 billion Dividend yield: 5.2% DIVCON Rating: 4 DIVCON Score: 59 AbbVie (ABBV, $90.70) is a pharmaceutical company that's primarily known for Humira, which treats several conditions (including rheumatoid arthritis and plaque psoriasis) and accounts for a whopping 60% of sales. Humira's core patents expired in 2016, and while AbbVie has obtained certain protections, it know it can't rely on the drug for revenues forever. Enter the company's merger with Allergan, which closed in May, that tucks blockbusters including wrinkle treatment Botox and dry-eye drug Restasis into AbbVie's lineup. | SEE ALSO: 32 Ways to Earn Up to 9% on Your Money Now AbbVie Market value: $159.8 billion Dividend yield: 5.2% DIVCON Rating: 4 DIVCON Score: 59 AbbVie (ABBV, $90.70) is a pharmaceutical company that's primarily known for Humira, which treats several conditions (including rheumatoid arthritis and plaque psoriasis) and accounts for a whopping 60% of sales. Humira's core patents expired in 2016, and while AbbVie has obtained certain protections, it know it can't rely on the drug for revenues forever. Enter the company's merger with Allergan, which closed in May, that tucks blockbusters including wrinkle treatment Botox and dry-eye drug Restasis into AbbVie's lineup. |
24539.0 | 2020-06-01 00:00:00 UTC | AbbVie, Jacobio Collaborate To Develop And Commercialize SHP2 Inhibitors | ABBV | https://www.nasdaq.com/articles/abbvie-jacobio-collaborate-to-develop-and-commercialize-shp2-inhibitors-2020-06-01 | nan | nan | (RTTNews) - AbbVie (ABBV) and Jacobio Pharmaceuticals have collaborated to develop and commercialize SHP2 inhibitors, which target a key node in cancer and immune cells. Financial terms were not disclosed.
As per the terms of the deal, AbbVie will be granted an exclusive license to the SHP2 portfolio. Jacobio will continue to conduct early global clinical trials of JAB-3068 and JAB-3312 with AbbVie covering R&D expenses.
Upon completion, AbbVie will assume global development and commercialization responsibilities. Jacobio has an option, exercisable before the initiation of registrational trials, to exclusively develop and commercialize the SHP2 program in mainland China, Hong Kong, and Macau.
SHP2 is an important protein mediator of cellular signaling through RAS/MAP kinase pathway. Many tumors have genetic mutations, driving abnormal cancer cell growth which relies on SHP2 activity. Jacobio's early clinical stage SHP2 assets, JAB-3068 and JAB-3312, are oral small molecules designed to specifically inhibit SHP2 activity.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) and Jacobio Pharmaceuticals have collaborated to develop and commercialize SHP2 inhibitors, which target a key node in cancer and immune cells. As per the terms of the deal, AbbVie will be granted an exclusive license to the SHP2 portfolio. Jacobio will continue to conduct early global clinical trials of JAB-3068 and JAB-3312 with AbbVie covering R&D expenses. | Jacobio will continue to conduct early global clinical trials of JAB-3068 and JAB-3312 with AbbVie covering R&D expenses. (RTTNews) - AbbVie (ABBV) and Jacobio Pharmaceuticals have collaborated to develop and commercialize SHP2 inhibitors, which target a key node in cancer and immune cells. As per the terms of the deal, AbbVie will be granted an exclusive license to the SHP2 portfolio. | (RTTNews) - AbbVie (ABBV) and Jacobio Pharmaceuticals have collaborated to develop and commercialize SHP2 inhibitors, which target a key node in cancer and immune cells. Jacobio will continue to conduct early global clinical trials of JAB-3068 and JAB-3312 with AbbVie covering R&D expenses. As per the terms of the deal, AbbVie will be granted an exclusive license to the SHP2 portfolio. | (RTTNews) - AbbVie (ABBV) and Jacobio Pharmaceuticals have collaborated to develop and commercialize SHP2 inhibitors, which target a key node in cancer and immune cells. Jacobio will continue to conduct early global clinical trials of JAB-3068 and JAB-3312 with AbbVie covering R&D expenses. As per the terms of the deal, AbbVie will be granted an exclusive license to the SHP2 portfolio. |
24540.0 | 2020-05-30 00:00:00 UTC | Is Pfizer a Great Dividend Stock? | ABBV | https://www.nasdaq.com/articles/is-pfizer-a-great-dividend-stock-2020-05-30 | nan | nan | Facing economic uncertainties or prolonged downturns, investors typically seek the safe haven of defensive stocks. Large multinational pharmaceutical companies fall into this category. Illness does not know or care about economic conditions, causing individuals to seek treatment for what ails them. While not entirely recession-proof, pharmaceutical companies can weather the storm better than many companies in other industries.
Stalwart Pfizer (NYSE: PFE) ranks third among the biggest of these giants. Only Johnson & Johnson and Swiss-based Roche Holdings have larger market capitalizations. The household name famous for blockbuster drugs like Lipitor, Lyrica, and Viagra expects 2020 to be a transformational year as it slims down to focus on high-value medicines to grow its bottom line.
Image source: Getty Images.
Pfizer's dividend
When it comes to dividend yield, Pfizer takes third place on the podium again. Its current 3.98% yield outperforms most of its pharma peers, whose yields are 3% or less. However, AbbVie and GlaxoSmithKline pay dividends yielding approximately 4.9%.
Pfizer has increased its payout annually since 2009, growing from $0.16 to the current $0.38 per quarter. While the consistency over the last decade is admirable, Pfizer slashed the dividend in half in 2009. Keep in mind that the timing coincided with the last global economic crisis. This begs the question: What will Pfizer do in today's coronavirus pandemic-driven downturn?
Not one, but two dividends
Last summer Pfizer announced that it will spin off its generic drugs unit Upjohn and merge it with another global generics company, Mylan. The new entity, called Viatris, will have a global footprint and expects to generate $19 billion to $20 billion in revenues.
Investors should understand this transaction for three reasons. First, shareholders in Pfizer will end up owning 57% of Viatris. That means every Pfizer shareholder will receive a stake in Viatris. Think of it as a dividend in the stock in the new company. Second, Viatris plans to pay its own dividend. Highlighted in the transaction announcement is that Viatris expects to pay shareholders 25% of free cash flow starting in the first full quarter of operations. By owning Pfizer shares before the transaction, investors will end the year with two dividend-paying stocks in their portfolios.
The third important reason for the transaction relates to the Upjohn business itself. First-quarter revenues from the Upjohn unit dropped 37% year over year, dragging down Pfizer's overall performance. Generic competition for former blockbuster drug Lyrica was partly to blame.
Financially sound
In the first quarter, Pfizer generated $4.5 billion in adjusted income on sales of $12 billion for the first quarter of 2020. This represented an 8% decline over the prior year. The biopharma business, which includes its branded pharmaceuticals, witnessed 11% revenue growth. The transaction carves out the off-patent drug portfolio, slimming Pfizer down to focus on higher-value, prescription medicines.
Pfizer reaffirmed full-year guidance in the range of $48.5 billion to $50.5 billion in revenues. This number includes the Upjohn business. Excluding Upjohn for the year -- what it dubs "New Pfizer" -- revenue guidance ranges from $40.7 billion to $42.3 billion. While Pfizer's dividend will be reduced following the spin-off, it appears fully capable of maintaining its track record of dividend growth from here on out.
Both healthcare and generalist investors seek to find safety, particularly as unemployment numbers skyrocket and the economy looks destined for a recession. Owning a solid company like Pfizer provides steady income of around 4% through its dividend yield despite the current coronavirus pandemic.
Following successful completion of the Viatris transaction this year, investors will own two global pharma giants and receive two dividends. Furthermore, each company's stock has the ability to appreciate in value independently. This makes it an attractive opportunity for a patient, dividend-seeking investor.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | However, AbbVie and GlaxoSmithKline pay dividends yielding approximately 4.9%. Facing economic uncertainties or prolonged downturns, investors typically seek the safe haven of defensive stocks. The household name famous for blockbuster drugs like Lipitor, Lyrica, and Viagra expects 2020 to be a transformational year as it slims down to focus on high-value medicines to grow its bottom line. | However, AbbVie and GlaxoSmithKline pay dividends yielding approximately 4.9%. By owning Pfizer shares before the transaction, investors will end the year with two dividend-paying stocks in their portfolios. Excluding Upjohn for the year -- what it dubs "New Pfizer" -- revenue guidance ranges from $40.7 billion to $42.3 billion. | However, AbbVie and GlaxoSmithKline pay dividends yielding approximately 4.9%. Pfizer's dividend When it comes to dividend yield, Pfizer takes third place on the podium again. Not one, but two dividends Last summer Pfizer announced that it will spin off its generic drugs unit Upjohn and merge it with another global generics company, Mylan. | However, AbbVie and GlaxoSmithKline pay dividends yielding approximately 4.9%. Think of it as a dividend in the stock in the new company. Owning a solid company like Pfizer provides steady income of around 4% through its dividend yield despite the current coronavirus pandemic. |
24541.0 | 2020-05-30 00:00:00 UTC | FDA Oks AbbVie's Oriahnn To Treat Heavy Menstrual Bleeding Associated With Fibroids In Women | ABBV | https://www.nasdaq.com/articles/fda-oks-abbvies-oriahnn-to-treat-heavy-menstrual-bleeding-associated-with-fibroids-in | nan | nan | (RTTNews) - AbbVie (ABBV), in cooperation with Neurocrine Biosciences Inc. (NBIX), said that the U.S. Food and Drug Administration approved Oriahnn capsules, co-packaged for oral use, for the management of heavy menstrual bleeding associated with uterine leiomyomas (fibroids) in premenopausal women.
The approval provides women with a non-surgical option to help address unresolved heavy menstrual bleeding in an impactful way.
Oriahnn is expected to be available in the U.S. by the end of June 2020.
The FDA warned that Oriahnn may cause bone loss over time, and the loss in some women may not be completely recovered after stopping treatment. Because bone loss may increase the risk for fractures, women should not take Oriahnn for more than 24 months.
Uterine fibroids, also called leiomyomas, are estrogen and progesterone-dependent non-cancerous tumors of the uterus and are the most common type of benign tumor in women of reproductive age, affecting up to 70 percent of Caucasian women and up to 80 percent of African American women by age 50. Traditionally, uterine fibroids have been primarily managed by surgery and are the leading reason for the hysterectomies performed in the U.S.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV), in cooperation with Neurocrine Biosciences Inc. (NBIX), said that the U.S. Food and Drug Administration approved Oriahnn capsules, co-packaged for oral use, for the management of heavy menstrual bleeding associated with uterine leiomyomas (fibroids) in premenopausal women. The approval provides women with a non-surgical option to help address unresolved heavy menstrual bleeding in an impactful way. Traditionally, uterine fibroids have been primarily managed by surgery and are the leading reason for the hysterectomies performed in the U.S. | (RTTNews) - AbbVie (ABBV), in cooperation with Neurocrine Biosciences Inc. (NBIX), said that the U.S. Food and Drug Administration approved Oriahnn capsules, co-packaged for oral use, for the management of heavy menstrual bleeding associated with uterine leiomyomas (fibroids) in premenopausal women. The approval provides women with a non-surgical option to help address unresolved heavy menstrual bleeding in an impactful way. Uterine fibroids, also called leiomyomas, are estrogen and progesterone-dependent non-cancerous tumors of the uterus and are the most common type of benign tumor in women of reproductive age, affecting up to 70 percent of Caucasian women and up to 80 percent of African American women by age 50. | (RTTNews) - AbbVie (ABBV), in cooperation with Neurocrine Biosciences Inc. (NBIX), said that the U.S. Food and Drug Administration approved Oriahnn capsules, co-packaged for oral use, for the management of heavy menstrual bleeding associated with uterine leiomyomas (fibroids) in premenopausal women. The FDA warned that Oriahnn may cause bone loss over time, and the loss in some women may not be completely recovered after stopping treatment. Uterine fibroids, also called leiomyomas, are estrogen and progesterone-dependent non-cancerous tumors of the uterus and are the most common type of benign tumor in women of reproductive age, affecting up to 70 percent of Caucasian women and up to 80 percent of African American women by age 50. | (RTTNews) - AbbVie (ABBV), in cooperation with Neurocrine Biosciences Inc. (NBIX), said that the U.S. Food and Drug Administration approved Oriahnn capsules, co-packaged for oral use, for the management of heavy menstrual bleeding associated with uterine leiomyomas (fibroids) in premenopausal women. The approval provides women with a non-surgical option to help address unresolved heavy menstrual bleeding in an impactful way. Oriahnn is expected to be available in the U.S. by the end of June 2020. |
24542.0 | 2020-05-29 00:00:00 UTC | FDA approves Abbvie's treatment to control menstrual bleeding | ABBV | https://www.nasdaq.com/articles/fda-approves-abbvies-treatment-to-control-menstrual-bleeding-2020-05-29 | nan | nan | May 29 (Reuters) - The U.S. Food and Drug Administration on Friday approved Abbvie Inc's ABBV.N oral treatment for managing heavy menstrual bleeding associated with fibroids in premenopausal women.
Fibroids are benign muscle tumors of the uterus that can cause heavy menstrual bleeding, pain, bowel or bladder problems and infertility.
(Reporting By Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 29 (Reuters) - The U.S. Food and Drug Administration on Friday approved Abbvie Inc's ABBV.N oral treatment for managing heavy menstrual bleeding associated with fibroids in premenopausal women. Fibroids are benign muscle tumors of the uterus that can cause heavy menstrual bleeding, pain, bowel or bladder problems and infertility. (Reporting By Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber) ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 29 (Reuters) - The U.S. Food and Drug Administration on Friday approved Abbvie Inc's ABBV.N oral treatment for managing heavy menstrual bleeding associated with fibroids in premenopausal women. Fibroids are benign muscle tumors of the uterus that can cause heavy menstrual bleeding, pain, bowel or bladder problems and infertility. (Reporting By Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber) ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 29 (Reuters) - The U.S. Food and Drug Administration on Friday approved Abbvie Inc's ABBV.N oral treatment for managing heavy menstrual bleeding associated with fibroids in premenopausal women. Fibroids are benign muscle tumors of the uterus that can cause heavy menstrual bleeding, pain, bowel or bladder problems and infertility. (Reporting By Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber) ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 29 (Reuters) - The U.S. Food and Drug Administration on Friday approved Abbvie Inc's ABBV.N oral treatment for managing heavy menstrual bleeding associated with fibroids in premenopausal women. Fibroids are benign muscle tumors of the uterus that can cause heavy menstrual bleeding, pain, bowel or bladder problems and infertility. (Reporting By Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber) ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
24543.0 | 2020-05-28 00:00:00 UTC | Analysts Expect FXH To Hit $98 | ABBV | https://www.nasdaq.com/articles/analysts-expect-fxh-to-hit-%2498-2020-05-28 | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the First Trust Health Care AlphaDEX Fund ETF (Symbol: FXH), we found that the implied analyst target price for the ETF based upon its underlying holdings is $97.90 per unit.
With FXH trading at a recent price near $89.09 per unit, that means that analysts see 9.89% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of FXH's underlying holdings with notable upside to their analyst target prices are Insulet Corp (Symbol: PODD), Alnylam Pharmaceuticals Inc (Symbol: ALNY), and AbbVie Inc (Symbol: ABBV). Although PODD has traded at a recent price of $178.43/share, the average analyst target is 15.45% higher at $206.00/share. Similarly, ALNY has 14.85% upside from the recent share price of $133.35 if the average analyst target price of $153.16/share is reached, and analysts on average are expecting ABBV to reach a target price of $100.64/share, which is 11.84% above the recent price of $89.98. Below is a twelve month price history chart comparing the stock performance of PODD, ALNY, and ABBV:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
First Trust Health Care AlphaDEX Fund ETF FXH $89.09 $97.90 9.89%
Insulet Corp PODD $178.43 $206.00 15.45%
Alnylam Pharmaceuticals Inc ALNY $133.35 $153.16 14.85%
AbbVie Inc ABBV $89.98 $100.64 11.84%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | First Trust Health Care AlphaDEX Fund ETF FXH $89.09 $97.90 9.89% Insulet Corp PODD $178.43 $206.00 15.45% Alnylam Pharmaceuticals Inc ALNY $133.35 $153.16 14.85% AbbVie Inc ABBV $89.98 $100.64 11.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of FXH's underlying holdings with notable upside to their analyst target prices are Insulet Corp (Symbol: PODD), Alnylam Pharmaceuticals Inc (Symbol: ALNY), and AbbVie Inc (Symbol: ABBV). Similarly, ALNY has 14.85% upside from the recent share price of $133.35 if the average analyst target price of $153.16/share is reached, and analysts on average are expecting ABBV to reach a target price of $100.64/share, which is 11.84% above the recent price of $89.98. | Three of FXH's underlying holdings with notable upside to their analyst target prices are Insulet Corp (Symbol: PODD), Alnylam Pharmaceuticals Inc (Symbol: ALNY), and AbbVie Inc (Symbol: ABBV). First Trust Health Care AlphaDEX Fund ETF FXH $89.09 $97.90 9.89% Insulet Corp PODD $178.43 $206.00 15.45% Alnylam Pharmaceuticals Inc ALNY $133.35 $153.16 14.85% AbbVie Inc ABBV $89.98 $100.64 11.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Similarly, ALNY has 14.85% upside from the recent share price of $133.35 if the average analyst target price of $153.16/share is reached, and analysts on average are expecting ABBV to reach a target price of $100.64/share, which is 11.84% above the recent price of $89.98. | Similarly, ALNY has 14.85% upside from the recent share price of $133.35 if the average analyst target price of $153.16/share is reached, and analysts on average are expecting ABBV to reach a target price of $100.64/share, which is 11.84% above the recent price of $89.98. Three of FXH's underlying holdings with notable upside to their analyst target prices are Insulet Corp (Symbol: PODD), Alnylam Pharmaceuticals Inc (Symbol: ALNY), and AbbVie Inc (Symbol: ABBV). Below is a twelve month price history chart comparing the stock performance of PODD, ALNY, and ABBV: Below is a summary table of the current analyst target prices discussed above: | First Trust Health Care AlphaDEX Fund ETF FXH $89.09 $97.90 9.89% Insulet Corp PODD $178.43 $206.00 15.45% Alnylam Pharmaceuticals Inc ALNY $133.35 $153.16 14.85% AbbVie Inc ABBV $89.98 $100.64 11.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of FXH's underlying holdings with notable upside to their analyst target prices are Insulet Corp (Symbol: PODD), Alnylam Pharmaceuticals Inc (Symbol: ALNY), and AbbVie Inc (Symbol: ABBV). Similarly, ALNY has 14.85% upside from the recent share price of $133.35 if the average analyst target price of $153.16/share is reached, and analysts on average are expecting ABBV to reach a target price of $100.64/share, which is 11.84% above the recent price of $89.98. |
24544.0 | 2020-05-27 00:00:00 UTC | The 3 Best Stocks for Beginning Investors | ABBV | https://www.nasdaq.com/articles/the-3-best-stocks-for-beginning-investors-2020-05-27 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
If you’d invested $143 in the S&P 500 in 1928, reinvesting all dividends, at the end of 2019, your initial investment would be worth $502,417, according to Aswath Damodaran, Professor of Finance at New York University Stern School of Business. That simple pick for beginning investors equates to an average 9.2% annual return.
But as any investor knows, hidden within the average are losing years, as well as years with extremely high returns.
If you’re a beginning investor looking to dip your toe into the stock market, there are a few things to do before choosing your first stock.
Make sure that you:
Have an emergency cash fund of at least three to six months of expenses.
Have paid off most of your credit card debt.
Plan to invest for the long term, not for a quick profit.
Investing in the stock market is a long-term endeavor. Those who steadily trade in and out of the markets tend to earn lower returns than the buy-and-hold investors. With that being the case, beginning investors will do well to consider boring stocks they can have for the long term.
Characteristics of a Good Stock to Pick
Picking individual stocks requires research and an understanding of the company. After all, you’re buying shares so you can participate in the future growth of that firm.
When investing in stocks, it’s wise to look in your own backyard. Peter Lynch, famous fund manager of Fidelity Magellan, recommends buying what you know. For example, if you work in technology, then you might consider investing in a tech stock. If you’re knowledgeable about science, look into that area.
Consider stocks that have years of strong growth as well as a plan to continue growing.
Avoid investing in firms with excessive amounts of debt.
Buy fairly or undervalued stocks to increase your chances for capital appreciation. Check out the company’s price-earnings ratio and other valuation measures, to make sure that you’re not overpaying for the company. The P/E ratio measures the price you’re paying for one dollar of earnings.
Seek out companies with a strong competitive advantage and avoid commodity products. Warren Buffett coined the phrase, economic moat, which refers to companies that are tough to replicate and have a unique advantage.
7 Sinking Oil Stocks Investors Should Avoid
If you haven’t opened up an account yet, you might consider the Robinhood or M1 Finance apps with free trading. M1 even offers free investment management. Of course, the big brokerages like Morgan Stanley’s (NYSE:MS) eTrade, Schwab (NYSE:SCHW) and Fidelity also offer commission-free trading.
Broadly, these three stocks for beginners are a good place to start:
Snap-On (NYSE:SNA)
AT&T (NYSE:T)
Abbvie (NYSE:ABBV)
Stocks for Beginners: Snap-On (SNA)
Source: RMC42/ShutterStock.com
Snap-on manufactures tools, equipment, diagnostics and solutions for repairing vehicles, planes and other types of industrial equipment. The company has a $7.4 billion market capitalization and a 3.2% dividend yield. Trading at $137, the stock is reasonably valued now, with a trailing P/E ratio of 11.7 — near the bottom of its historical ratio range.
The recent pullback in consumer activity due to the novel coronavirus has hurt Snap-On as customers purchased fewer premium tools and driving declined. Yet, the low valuation makes this a good entry point for the stock, which is likely to rebound along with improvements in the U.S. and global economies. The high dividend provides cash flow for beginning investors, as well. Ultimately, increasing vehicle complexity bodes well for the future of Snap-On’s product line.
Additional revenue from their financing arm should help the bottom line in the future as well.
AT & T (T)
Source: Jonathan Weiss/Shutterstock
This global communications company has been evolving for generations and the DirecTV and Time Warner acquisitions add to the company’s value. AT & T provides telecommunication, media, and technology services across the globe. With increasing dividends for 34 years, beginning investors will enjoy cash flow along with potential capital appreciation.
At around $32, T stock’s current P/E ratio is 15.2 and the yield is a mouth-watering 6.8%. And, the price is on the lower end of its five-year trading range giving support to the thesis that the firm is reasonably valued. Even if the price stagnates for a while, the high yield is tough to beat.
AT & T wireless grew by 163,000 net postpaid phone customers this quarter, doubling new users this quarter over a year ago. With the upcoming rollout of 5G technology, AT & T can expect continued growth going forward. On the negative, side, the faltering economy hit equipment sales and WarnerMedia with the decline of television sports coverage.
7 U.S. Stocks to Buy on Coronavirus Weakness
With 5G growth initiatives and a rebounding economy, beginning investors can enjoy the dividend while waiting for the economy to turn around.
AbbVie (ABBV)
Source: Piotr Swat / Shutterstock.com
This biopharmaceutical company develops and markets pharmaceuticals in the U.S. and globally. Known for Humira, a biologic drug for autoimmune and intestinal diseases, AbbVie also offers drugs to treat arthritis, leukemia, and other diseases.
ABBV has a P/E ratio of 16.3 and a 5.2% dividend at the current price of $90.71.
The company has a pipeline of new drugs, including cancer treatments, to offset any losses due to patent expirations. The company’s recent acquisition of Allergan will boost the firms cash flow as well.
Drug companies are typically less impacted by economic difficulties and patients need their medicine during good times and bad, making this a solid pick for beginning investors.
You’ll notice that these three stocks are from diverse industries. When you own individual stocks, it’s important to diversify across industries so that if one industry falters, you’ll have others doing well to prop up total returns.
If you’re avoiding funds it’s usually a good idea to own roughly 10 individual stocks from distinct sectors to improve diversification.
Finally, blue chip stocks are solid picks for beginning investors.
Barbara A. Friedberg, MBA, MS is a veteran portfolio manager, expert investor, and former university finance instructor. She is editor/author of Personal Finance; An Encyclopedia of Modern Money Management and two additional money books. She is CEO of Robo-Advisor Pros.com, a robo-advisor review and information website. Additionally, Friedberg is publisher of the well-regarded investment website Barbara Friedberg Personal Finance.com. Follow her on twitter @barbfriedberg and @roboadvisorpros. As of this writing, she does not hold a position in any of the aforementioned securities.
The post The 3 Best Stocks for Beginning Investors appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbvie (NYSE:ABBV) Stocks for Beginners: Snap-On (SNA) Source: RMC42/ShutterStock.com Snap-on manufactures tools, equipment, diagnostics and solutions for repairing vehicles, planes and other types of industrial equipment. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com This biopharmaceutical company develops and markets pharmaceuticals in the U.S. and globally. Known for Humira, a biologic drug for autoimmune and intestinal diseases, AbbVie also offers drugs to treat arthritis, leukemia, and other diseases. | Abbvie (NYSE:ABBV) Stocks for Beginners: Snap-On (SNA) Source: RMC42/ShutterStock.com Snap-on manufactures tools, equipment, diagnostics and solutions for repairing vehicles, planes and other types of industrial equipment. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com This biopharmaceutical company develops and markets pharmaceuticals in the U.S. and globally. Known for Humira, a biologic drug for autoimmune and intestinal diseases, AbbVie also offers drugs to treat arthritis, leukemia, and other diseases. | Abbvie (NYSE:ABBV) Stocks for Beginners: Snap-On (SNA) Source: RMC42/ShutterStock.com Snap-on manufactures tools, equipment, diagnostics and solutions for repairing vehicles, planes and other types of industrial equipment. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com This biopharmaceutical company develops and markets pharmaceuticals in the U.S. and globally. Known for Humira, a biologic drug for autoimmune and intestinal diseases, AbbVie also offers drugs to treat arthritis, leukemia, and other diseases. | Abbvie (NYSE:ABBV) Stocks for Beginners: Snap-On (SNA) Source: RMC42/ShutterStock.com Snap-on manufactures tools, equipment, diagnostics and solutions for repairing vehicles, planes and other types of industrial equipment. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com This biopharmaceutical company develops and markets pharmaceuticals in the U.S. and globally. Known for Humira, a biologic drug for autoimmune and intestinal diseases, AbbVie also offers drugs to treat arthritis, leukemia, and other diseases. |
24545.0 | 2020-05-27 00:00:00 UTC | Ironwood, AbbVie To Discontinue Development Of MD-7246 - Quick Facts | ABBV | https://www.nasdaq.com/articles/ironwood-abbvie-to-discontinue-development-of-md-7246-quick-facts-2020-05-27 | nan | nan | (RTTNews) - Ironwood Pharmaceuticals, Inc. (IRWD) reported that its Phase II trial evaluating MD-7246 in adult patients with abdominal pain associated with irritable bowel syndrome with diarrhea did not meet primary or key secondary endpoints. Ironwood and AbbVie plan to discontinue the development of MD-7246.
MD-7246 is a delayed release formulation of linaclotide that was being evaluated by Ironwood and its partner AbbVie as an oral, non-opioid, pain-relieving agent for adult patients in the U.S. suffering from abdominal pain associated irritable bowel syndrome with diarrhea.
Shares of Ironwood Pharma were down 12% in pre-market trade on Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | MD-7246 is a delayed release formulation of linaclotide that was being evaluated by Ironwood and its partner AbbVie as an oral, non-opioid, pain-relieving agent for adult patients in the U.S. suffering from abdominal pain associated irritable bowel syndrome with diarrhea. Ironwood and AbbVie plan to discontinue the development of MD-7246. (RTTNews) - Ironwood Pharmaceuticals, Inc. (IRWD) reported that its Phase II trial evaluating MD-7246 in adult patients with abdominal pain associated with irritable bowel syndrome with diarrhea did not meet primary or key secondary endpoints. | Ironwood and AbbVie plan to discontinue the development of MD-7246. MD-7246 is a delayed release formulation of linaclotide that was being evaluated by Ironwood and its partner AbbVie as an oral, non-opioid, pain-relieving agent for adult patients in the U.S. suffering from abdominal pain associated irritable bowel syndrome with diarrhea. (RTTNews) - Ironwood Pharmaceuticals, Inc. (IRWD) reported that its Phase II trial evaluating MD-7246 in adult patients with abdominal pain associated with irritable bowel syndrome with diarrhea did not meet primary or key secondary endpoints. | MD-7246 is a delayed release formulation of linaclotide that was being evaluated by Ironwood and its partner AbbVie as an oral, non-opioid, pain-relieving agent for adult patients in the U.S. suffering from abdominal pain associated irritable bowel syndrome with diarrhea. Ironwood and AbbVie plan to discontinue the development of MD-7246. (RTTNews) - Ironwood Pharmaceuticals, Inc. (IRWD) reported that its Phase II trial evaluating MD-7246 in adult patients with abdominal pain associated with irritable bowel syndrome with diarrhea did not meet primary or key secondary endpoints. | Ironwood and AbbVie plan to discontinue the development of MD-7246. MD-7246 is a delayed release formulation of linaclotide that was being evaluated by Ironwood and its partner AbbVie as an oral, non-opioid, pain-relieving agent for adult patients in the U.S. suffering from abdominal pain associated irritable bowel syndrome with diarrhea. (RTTNews) - Ironwood Pharmaceuticals, Inc. (IRWD) reported that its Phase II trial evaluating MD-7246 in adult patients with abdominal pain associated with irritable bowel syndrome with diarrhea did not meet primary or key secondary endpoints. |
24546.0 | 2020-05-26 00:00:00 UTC | Is Coherus BioSciences a Buy? | ABBV | https://www.nasdaq.com/articles/is-coherus-biosciences-a-buy-2020-05-26 | nan | nan | Coherus BioSciences (NASDAQ: CHRS) is a shining example of success in the otherwise failure-filled field of biosimilars. The company's first major product, Udenyca, was the most successful drug launch of 2019. Its quick traction flipped an operating loss of $204 million in 2018 to an operating profit of $107 million last year.
Unfortunately for shareholders, Coherus BioSciences' share price has not matched the trajectory of Udenyca sales. In fact, the stock lost 16% in the last year, and the company is valued at just $1.2 billion despite generating $356 million in revenue in 2019. Is Wall Street aware of something investors might be overlooking, or is this growth stock a solid buy?
Image source: Getty Images.
The argument in favor
Udenyca (pegfilgrastim), a biosimilar for Neulasta from Amgen, is used to stimulate the growth of white blood cells in individuals receiving chemotherapy. The product is called a "biosimilar" rather than a "generic drug" because filgrastim is a protein and, at present, it's impossible to verify that complex biomolecules like proteins have been perfectly replicated from the original manufacturing process. By contrast, small molecule drugs made with synthetic chemistry can be replicated nearly perfectly.
The complexity involved has made biosimilars both risky and lucrative for biopharmaceutical companies. On the one hand, developing a successful biosimilar requires a large up-front investment and the successful navigation of significant risks. On the other hand, the difficulty erects natural barriers to entry and reduces competition (on paper, at least). Considering seven of the top 10 best-selling drug products in the world are biologic drugs, investors have for years eagerly anticipated lopsided victories for successful biosimilar developers. The day might have finally arrived.
Coherus BioSciences experienced its fair share of setbacks getting Udenyca to market, but the post-launch results have been encouraging. The drug generated $356 million in revenue in 2019, ended the year with 20.5% of all unit sales for pegfilgrastim-based drugs, and hauled in another $116 million in revenue in the first quarter of 2020. That's impressive considering the drug product launched later than its top biosimilar competitor (Fulphila from Mylan, which ended the year with only about 5% market share).
On the first-quarter 2020 earnings conference call, management reported a moderate negative impact on Udenyca sales from the coronavirus pandemic in the first several weeks of the second quarter. That's not too surprising considering the patient population -- those receiving chemotherapy -- are at heightened risk of infections, including from the novel coronavirus. It's a reflection of doctors remaining cautious, but it's only a temporary trend. Cancer treatments can only be delayed for so long.
Coherus BioSciences ended March with $193 million in cash, completed a $230 million debt offering in April, and expects to generate positive cash flow from operations during 2020. The balance sheet is strong enough to endure the temporary slowdown ahead. It's also strong enough to pursue a number of additional opportunities on the horizon:
New in-licenses: Coherus BioSciences in-licensed a biosimilar to Avastin from Innovent Biologics. The duo will conduct a comparison study to the innovator drug and analytical research before filing for marketing approval from the U.S. Food and Drug Administration (FDA) in 2021. The company also has the option to in-license a biosimilar to Rituxan.
Advance ophthalmology product candidates: Coherus BioSciences owns the rights to biosimilars to Lucentis and Eylea, both of which treat wet age-related macular degeneration (AMD). The marketing application for Lucentis is on pace to be filed with the FDA in the second half of 2020. A phase 3 trial for the Eylea biosimilar is expected to begin in 2021, although intellectual property obstacles mean the product couldn't launch until 2025 at the earliest if it earns marketing approval.
Catch the big one: Coherus BioSciences could launch a biosimilar to Humira, the world's most successful drug product, in July 2023, but it needs to complete various manufacturing and regulatory activities before submitting a marketing application to the FDA in the second half of 2020.
The argument against
Why is Coherus BioSciences valued at a paltry four times revenue? Despite the rapid success of Udenyca, Wall Street is being careful not to get too carried away. There are now three biosimilars to Neulasta, including Fulphilia from Mylan and Ziextenzo from Sandoz, a Novartis company. The increasing competition has eroded the "barrier to entry" argument for biosimilar developers and led to steady pressure on selling prices for pegfilgrastim-based drugs.
To be blunt, Wall Street might be taking this concern a little too far. Udenyca eclipsed the market share of Fulphilia in May 2019 -- just six months after launching -- and has never looked back. In fact, Fulphilia's market share topped out at 10% and then quickly eroded to half that by the end of last year. Udenyca is expected to hold onto an at least 20% market share for the foreseeable future.
A third biosimilar entrant (Ziextenzo) is likely to exert downward pricing pressure on all pegfilgrastim-based drugs, including the innovator drug Neulasta, but there's plenty of wiggle room. Coherus BioSciences generated an operating margin of over 35% in the first quarter of 2020. That won't dissipate overnight.
That said, Wall Street does have a valid point. Investors would like to see Coherus BioSciences replicate the success of Udenyca with another biosimilar (or two) to spread risk around the product portfolio. But in drug development, and especially in biosimilar drug development, success is far from guaranteed.
Image source: Getty Images.
A solid long-term play
Shares of Coherus BioSciences have lost 16% in the past year and 16% in the past three years. That doesn't quite square with the success of the business in those time frames.
Udenyca was the most successful drug launch of 2019 and exited the year with a 20% market share. The company expects to enter the second half of 2020 with over $400 million in cash (one-third of its current market valuation) and generate cash from operations throughout the year. It has continuously expanded development opportunities by inking licensing deals with outside drug developers and working out agreements with innovators, such as AbbVie, to earn the right to smoothly launch biosimilars to their drugs, such as Humira, in the future.
Simply put, investors with a long-term mindset should acknowledge the risks involved and understand that the share price might be volatile for the foreseeable future. But this biotech stock could generate above-average returns in the next several years, even with a few bumps along the way. That makes Coherus BioSciences a buy at current levels.
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Maxx Chatsko has no position in any of the stocks mentioned. The Motley Fool recommends Amgen and Mylan. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It has continuously expanded development opportunities by inking licensing deals with outside drug developers and working out agreements with innovators, such as AbbVie, to earn the right to smoothly launch biosimilars to their drugs, such as Humira, in the future. Advance ophthalmology product candidates: Coherus BioSciences owns the rights to biosimilars to Lucentis and Eylea, both of which treat wet age-related macular degeneration (AMD). A phase 3 trial for the Eylea biosimilar is expected to begin in 2021, although intellectual property obstacles mean the product couldn't launch until 2025 at the earliest if it earns marketing approval. | It has continuously expanded development opportunities by inking licensing deals with outside drug developers and working out agreements with innovators, such as AbbVie, to earn the right to smoothly launch biosimilars to their drugs, such as Humira, in the future. Coherus BioSciences ended March with $193 million in cash, completed a $230 million debt offering in April, and expects to generate positive cash flow from operations during 2020. Catch the big one: Coherus BioSciences could launch a biosimilar to Humira, the world's most successful drug product, in July 2023, but it needs to complete various manufacturing and regulatory activities before submitting a marketing application to the FDA in the second half of 2020. | It has continuously expanded development opportunities by inking licensing deals with outside drug developers and working out agreements with innovators, such as AbbVie, to earn the right to smoothly launch biosimilars to their drugs, such as Humira, in the future. Considering seven of the top 10 best-selling drug products in the world are biologic drugs, investors have for years eagerly anticipated lopsided victories for successful biosimilar developers. That's impressive considering the drug product launched later than its top biosimilar competitor (Fulphila from Mylan, which ended the year with only about 5% market share). | It has continuously expanded development opportunities by inking licensing deals with outside drug developers and working out agreements with innovators, such as AbbVie, to earn the right to smoothly launch biosimilars to their drugs, such as Humira, in the future. The company's first major product, Udenyca, was the most successful drug launch of 2019. Investors would like to see Coherus BioSciences replicate the success of Udenyca with another biosimilar (or two) to spread risk around the product portfolio. |
24547.0 | 2020-05-26 00:00:00 UTC | WHO expects hydroxychloroquine safety findings by mid-June | ABBV | https://www.nasdaq.com/articles/who-expects-hydroxychloroquine-safety-findings-by-mid-june-2020-05-26 | nan | nan | Adds details
ZURICH, May 26 (Reuters) - The World Health Organization (WHO) on Tuesday promised a swift review of data on hydroxychloroquine, probablyby mid-June, after safety concerns prompted the group to suspend the malaria drug's use in a trial on COVID-19 patients.
U.S. President Donald Trump and others have pushed hydroxychloroquine as a possible coronavirus treatment, but the WHO on Monday called time in its multi-country trial, called Solidarity.
A study in British medical journal The Lancet found patients getting hydroxychloroquine had increased death rates and irregular heartbeats, prompting the WHO's intervention.
"A final decision on the harm, benefit or lack of benefit of hydroxychloroquine will be made once the evidence has been reviewed by the Data Safety Monitoring Board," the body said in a statement. "It is expected by mid-June."
Those already in its by-now 17-country study of thousands of patients who have started hydroxychloroquine can finish their treatment, the WHO said.
Newly enrolled patients will receive other treatments being evaluated in Solidarity, including Gilead Science's GILD.O remdesivir and AbbVie's ABBV.N Kaletra/Aluvia.
Separate hydroxychloroquine trials, including a 440-patient U.S. study by Swiss drugmaker Novartis NOVN.S, are continuing even while the WHO slows down. Novartis and rival Sanofi SASY.PA have pledged to donate tens of millions of doses of the drug, also used in rheumatoid arthritis and lupus, if it is shown to be effective and safe for COVID-19.
Novartis said The Lancet study, while covering 100,000 people, was only "observational" and not capable of demonstrating a causal link between hydroxychloroquine and side effects.
"We need randomised, controlled clinical trials to clearly understand efficacy and safety," a Novartis spokesman said.
(Reporting by John Miller; Editing by Michael Shields and John Stonestreet)
((J.Miller@thomsonreuters.com; +41 58 306 7734; Reuters Messaging: j.miller.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Newly enrolled patients will receive other treatments being evaluated in Solidarity, including Gilead Science's GILD.O remdesivir and AbbVie's ABBV.N Kaletra/Aluvia. Adds details ZURICH, May 26 (Reuters) - The World Health Organization (WHO) on Tuesday promised a swift review of data on hydroxychloroquine, probablyby mid-June, after safety concerns prompted the group to suspend the malaria drug's use in a trial on COVID-19 patients. A study in British medical journal The Lancet found patients getting hydroxychloroquine had increased death rates and irregular heartbeats, prompting the WHO's intervention. | Newly enrolled patients will receive other treatments being evaluated in Solidarity, including Gilead Science's GILD.O remdesivir and AbbVie's ABBV.N Kaletra/Aluvia. Adds details ZURICH, May 26 (Reuters) - The World Health Organization (WHO) on Tuesday promised a swift review of data on hydroxychloroquine, probablyby mid-June, after safety concerns prompted the group to suspend the malaria drug's use in a trial on COVID-19 patients. U.S. President Donald Trump and others have pushed hydroxychloroquine as a possible coronavirus treatment, but the WHO on Monday called time in its multi-country trial, called Solidarity. | Newly enrolled patients will receive other treatments being evaluated in Solidarity, including Gilead Science's GILD.O remdesivir and AbbVie's ABBV.N Kaletra/Aluvia. Adds details ZURICH, May 26 (Reuters) - The World Health Organization (WHO) on Tuesday promised a swift review of data on hydroxychloroquine, probablyby mid-June, after safety concerns prompted the group to suspend the malaria drug's use in a trial on COVID-19 patients. U.S. President Donald Trump and others have pushed hydroxychloroquine as a possible coronavirus treatment, but the WHO on Monday called time in its multi-country trial, called Solidarity. | Newly enrolled patients will receive other treatments being evaluated in Solidarity, including Gilead Science's GILD.O remdesivir and AbbVie's ABBV.N Kaletra/Aluvia. Adds details ZURICH, May 26 (Reuters) - The World Health Organization (WHO) on Tuesday promised a swift review of data on hydroxychloroquine, probablyby mid-June, after safety concerns prompted the group to suspend the malaria drug's use in a trial on COVID-19 patients. U.S. President Donald Trump and others have pushed hydroxychloroquine as a possible coronavirus treatment, but the WHO on Monday called time in its multi-country trial, called Solidarity. |
24548.0 | 2020-05-24 00:00:00 UTC | Is Vertex Pharmaceuticals Stock a Buy? | ABBV | https://www.nasdaq.com/articles/is-vertex-pharmaceuticals-stock-a-buy-2020-05-24 | nan | nan | The answer is yes. There's no need to build any suspense. Vertex Pharmaceuticals (NASDAQ: VRTX) is definitely a great stock to buy right now, in my view.
I've owned the biotech stock for a couple of years. I bought more shares recently as Vertex was rebounding from the stock market sell-off caused by the COVID-19 pandemic. And I plan to add to my position in the near future.
Why do I like Vertex so much? There are two main reasons.
Image source: Getty Images.
1. A strong moat
Most stocks are greatly impacted by what's going on with the broader economy. They're affected by competitors' moves. They can be hit hard by black swan events like the COVID-19 pandemic. But not Vertex. It has a strong moat that largely insulates it from these factors.
The biotech made nearly $4.2 billion last year. Little to none of that amount is at risk regardless of whether or not there's a global recession or if there's a second wave of coronavirus outbreaks in the fall. That's because Vertex markets the only approved drugs that treat the underlying cause of cystic fibrosis (CF), a rare genetic disease that causes lung infections and can affect the digestive system and other organs.
Vertex enjoys a monopoly in CF. Its drugs will be prescribed by physicians, paid for by insurers and government agencies, and taken by patients in both good and bad economic times. And with the respiratory issues that CF causes, patients aren't likely to skip any treatments with the threat of COVID-19.
But could competition be on the way? Maybe. AbbVie's pipeline includes a couple of experimental CF programs in phase 2 clinical studies. Tiny drugmakers Eloxx Pharmaceuticals and Proteostasis Therapeutics also each have a CF candidate in phase 2 development, while TranslateBio has an early stage CF program.
However, all four of these potential rivals have a long way to go before they could challenge Vertex. And unless their drugs were clearly superior to Vertex's products, I suspect they'd have a hard time knocking Vertex off its perch.
2. Multiple paths for growth
In addition to Vertex's strong moat, the company has multiple paths for growth. Let's start with its three CF drugs approved in the U.S. and in Europe -- Kalydeco, Orkambi, and Symdeko. Vertex secured several key reimbursement deals over the last year that should fuel growth for these drugs.
Even better, Vertex won FDA approval for Trikafta in October 2019, five months earlier than expected. Trikafta is already a huge success in the U.S., raking in $895 million in sales in its first full quarter on the market. Assuming the drug wins European approval (which I think is a pretty safe bet), Vertex should soon have a much greater market opportunity.
I also like that Vertex is leveraging its expertise in CF to target other rare genetic diseases that are similar in many respects to CF. The company's alpha-1 antitrypsin deficiency (AATD) program, which includes a candidate in phase 2 testing and another in phase 1 testing, is a great example of this. Success in AATD could nearly double Vertex's potential market.
The company isn't limiting itself only to rare diseases, though. Vertex's other phase 2 program, VX-150, targets the underlying cause of pain.
Vertex also has a couple of moon shots that could be major catalysts if successful. It's partnering with CRISPR Therapeutics on gene-editing therapy CTX001, which holds the promise of essentially curing rare genetic blood diseases beta-thalassemia and sickle cell disease. Vertex acquired Semma Therapeutics last year to scoop up its promising gene therapy that could cure type 1 diabetes. It hopes to advance this program to clinical testing no later than early 2021.
One issue
There is one thing about Vertex that I don't like. With Trikafta winning FDA approval and likely to do so in Europe, the company doesn't have any program in late-stage testing. I'd prefer that Vertex have candidates that are closer to possibly making it to market.
Is this a big concern? No. I'm confident that Vertex's CF opportunities will enable the company to generate strong growth for at least the next five years. That should give the company time to advance its AATD and pain programs.
Vertex also sits atop a massive cash stockpile that totaled $4.2 billion as of March 31, 2020. It's possible that the company could use its cash to further bolster its pipeline to improve the chances that it has new products ready to hit the market before its CF franchise sales begin to flatten.
10 stocks we like better than Vertex Pharmaceuticals
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Keith Speights owns shares of AbbVie and Vertex Pharmaceuticals. The Motley Fool owns shares of and recommends CRISPR Therapeutics. The Motley Fool recommends Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie's pipeline includes a couple of experimental CF programs in phase 2 clinical studies. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie and Vertex Pharmaceuticals. Its drugs will be prescribed by physicians, paid for by insurers and government agencies, and taken by patients in both good and bad economic times. | AbbVie's pipeline includes a couple of experimental CF programs in phase 2 clinical studies. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie and Vertex Pharmaceuticals. Multiple paths for growth In addition to Vertex's strong moat, the company has multiple paths for growth. | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie and Vertex Pharmaceuticals. AbbVie's pipeline includes a couple of experimental CF programs in phase 2 clinical studies. That's because Vertex markets the only approved drugs that treat the underlying cause of cystic fibrosis (CF), a rare genetic disease that causes lung infections and can affect the digestive system and other organs. | AbbVie's pipeline includes a couple of experimental CF programs in phase 2 clinical studies. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie and Vertex Pharmaceuticals. Why do I like Vertex so much? |
24549.0 | 2020-05-22 00:00:00 UTC | Should You Own This Sleeper Biotech Stock? | ABBV | https://www.nasdaq.com/articles/should-you-own-this-sleeper-biotech-stock-2020-05-22 | nan | nan | The sheer volume of biotech IPOs over the past few years makes it challenging to keep up to date on all these newly public companies. Several have returned to the capital markets to load up on cash to fund ongoing research and development (R&D) efforts. Among this crowd, Y-mAbs Therapeutics (NASDAQ: YMAB) continues to execute as its stock price climbs.
More than a unique name
Y-mAbs refers to the company's research efforts on monoclonal antibodies, often referred to as mAbs. The Y comes from the shape of a typical antibody. Each of the arms can be engineered to bind to certain proteins or receptors to induce a specific biologic activity. Y-mAbs Therapeutics focuses on oncology applications -- in particular, rare, pediatric cancers.
Image Source: Getty Images.
Targeting pediatric brain cancer
Y-mAbs's lead drug candidate, naxitamab, aims to be the first choice for maintenance therapy for patients with relapsed or refractory neuroblastoma. On March 31, the company completed its Biologics Licensing Application (BLA) with the Food and Drug Administration (FDA), the first step on the path to approval.
Neuroblastoma, a cancer of the nerve tissue, typically begins in childhood. Two-thirds of cases present before age five. According to the National Cancer Institute, more than 650 cases are diagnosed each year in the U.S.
Naxitamab will duke it out in this rare cancer population with Unituxin, currently marketed by United Therapeutics (NASDAQ: UTHR). Naxitamab offers several competitive advantages. First, patients receive it along with another drug called isotretinoin. Unituxin must be given with isotretinoin and two other drugs. Second, naxitamab is given by a 30-minute infusion three times a week, compared with Unituxin's 8- to 20-hour infusion four times weekly. Lastly, treatment with naxitamab eliminates the need for the patient to have had a prior autologous stem cell transplant (in which the patient's own stem cells are harvested, then returned to the body).
Beyond naxitamab, Y-mAbs plans to submit a BLA in June for its second drug candidate, omburtamab. The initial indication targets a complication of neuroblastoma called central nervous system leptomeningeal metastasis, or CNS/LM. While this condition is extremely rare, with only 80 cases diagnosed annually, omburtamab treatment increased overall survival from about six months to nearly 51 months.
Hidden assets
While the initial cancer populations for naxitamab and ormburtamab are extremely rare, the government offers programs to incentivize companies to pursue these types of diseases. One such mechanism is the Rare Pediatric Disease Designation. Upon approval, this designation provides the company with a Priority Review Voucher. These vouchers can be used for any new drug application, not just those targeting rare diseases, to expedite the FDA's review time from the standard 10 months to six months.
Importantly, the priority review vouchers can be sold. United Therapeutics earned a voucher for the approval of naxitamab's competitor Unituxin. It sold the voucher in 2015 to AbbVie for $350 million, representing the highest amount ever paid for a voucher. More recently, prices have ranged from $80 million to the low $100 millions.
Y-mAbs claims that both naxitamab and ormburtamab are eligible to receive vouchers. Considering both drugs could be approved over the course of the next year, Y-mAbs could end up with two valuable vouchers it can resell.
Image Source: Getty Images.
Rising stock
Following a successful, upsized IPO, Y-mAbs's stock price has steadily increased to the tune of 140%. That said, the business was not immune to the recent coronavirus market sell-off, with the stock price cut in half at one point. It has since returned to positive territory with fervor: A 50% loss has been replaced with a year-to-date gain of 23%.
A relatively low float -- number of shares available to trade -- adds to Y-mAbs' trading volatility. The company has approximately 39.8 million shares outstanding, but only 17.7 million are in the float. Insiders own 37% of the stock.
The takeaway
Biotech investing comes loaded with risk. Y-mAbs gives an interesting option for treating very rare pediatric cancers. While competitor Unituxin posted $113.7 million in 2019 sales, naxitamab's convenience and superior efficacy could steal a good deal of market share.
At a $1.5 billion market cap, Y-mAbs seems a little frothy. While the company's pipeline boasts more shots on goal than naxitamab and omburtamab, those programs remain at an earlier stage of development. I suggest keeping it on the radar and buying on any dips that occur before the FDA gives its approval decisions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It sold the voucher in 2015 to AbbVie for $350 million, representing the highest amount ever paid for a voucher. Targeting pediatric brain cancer Y-mAbs's lead drug candidate, naxitamab, aims to be the first choice for maintenance therapy for patients with relapsed or refractory neuroblastoma. On March 31, the company completed its Biologics Licensing Application (BLA) with the Food and Drug Administration (FDA), the first step on the path to approval. | It sold the voucher in 2015 to AbbVie for $350 million, representing the highest amount ever paid for a voucher. Targeting pediatric brain cancer Y-mAbs's lead drug candidate, naxitamab, aims to be the first choice for maintenance therapy for patients with relapsed or refractory neuroblastoma. According to the National Cancer Institute, more than 650 cases are diagnosed each year in the U.S. Naxitamab will duke it out in this rare cancer population with Unituxin, currently marketed by United Therapeutics (NASDAQ: UTHR). | It sold the voucher in 2015 to AbbVie for $350 million, representing the highest amount ever paid for a voucher. Targeting pediatric brain cancer Y-mAbs's lead drug candidate, naxitamab, aims to be the first choice for maintenance therapy for patients with relapsed or refractory neuroblastoma. According to the National Cancer Institute, more than 650 cases are diagnosed each year in the U.S. Naxitamab will duke it out in this rare cancer population with Unituxin, currently marketed by United Therapeutics (NASDAQ: UTHR). | It sold the voucher in 2015 to AbbVie for $350 million, representing the highest amount ever paid for a voucher. These vouchers can be used for any new drug application, not just those targeting rare diseases, to expedite the FDA's review time from the standard 10 months to six months. 10 stocks we like better than Y-Mabs Therapeutics, Inc. |
24550.0 | 2020-05-22 00:00:00 UTC | Better Buy: AbbVie vs. Eli Lilly | ABBV | https://www.nasdaq.com/articles/better-buy%3A-abbvie-vs.-eli-lilly-2020-05-22 | nan | nan | The COVID-19 pandemic has spared few companies, but AbbVie (NYSE: ABBV) and Eli Lilly (NYSE: LLY) are two pharma giants whose businesses are thriving amid the ongoing crisis. Both drugmakers have also performed better than the broader market of late. Year to date, shares of AbbVie are up by 3.2%, while Eli Lilly's stock is up by 17.8%. By contrast, the S&P 500 is down by about 8% since the year started. Both AbbVie and Eli Lilly could continue to outperform the market moving forward, but which of these two pharma stocks is the better buy today?
ABBV data by YCharts
The case for AbbVie
Despite its sales losing steam in Europe due to competition from biosimilars, AbbVie's Humira remains a blockbuster drug. The immunosuppressant will likely continue to account for a notable share of AbbVie's top line for a little while longer. In the meantime, the pharma giant can count on other products to pick up some of Humira's losses. For instance, there's cancer drug Imbruvica, whose sales for the first quarter increased by 37.9% to $1.2 billion.
There's also Skyrizi, a treatment for plaque psoriasis that was approved by the U.S. Food and Drug Administration (FDA) in April 2019. During the first quarter, Skyrizi generated $300 million in revenue, representing a 38.9% sequential increase. AbbVie can also count on cancer drug Venclexta, whose revenue during the first quarter was $317 million, 109.9% higher than the prior-year quarter.
Furthermore, let's not forget that AbbVie recently closed its much-anticipated acquisition of Allergan. This deal cost AbbVie about $63 billion, and in return, the pharma company picked up several products that should help bolster its lineup and its pipeline.
Most notably, there's Botox, a product capable of generating several billion dollars in sales every year and for which there are currently no biosimilars. AbbVie also thinks it is extremely unlikely that there will be a biosimilar for Botox anytime soon. With an even stronger lineup of products, AbbVie should continue to grow its revenue and earnings at a good clip from here on out.
The case for Eli Lilly
Eli Lilly is one of the biggest players in the market for diabetes drugs in the U.S. The company markets products including Trulicity, Humulin, Humalog, Basaglar, and others. Eli Lilly's lineup of diabetes products was one of the major reasons the company was able to deliver a strong performance during the first quarter. The pharma giant's revenue of $5.9 billion in the quarter increased by 15% year over year, while its non-GAAP net income increased by 29% to $1.6 billion.
Image source: Getty Images.
Outside of its diabetes lineup, Eli Lilly does have other exciting products. Some of the most promising include Olumiant, a treatment for rheumatoid arthritis, cancer treatment Alimta, and an immunosuppressant called Taltz. Sales for all three products have been growing rapidly of late. During the first quarter, Olumiant's revenue grew by 70% to $139.7 million. Meanwhile, Alimta recorded $560.1 million in revenue -- representing 12% year-over-year growth -- while Taltz's revenue was $443.5 million, 76% higher than the year-ago period.
Lastly, Eli Lilly boasts a rich pipeline of potential products, many of which are in late-stage trials. Thanks to its robust pipeline, the company can continue to replenish and strengthen its lineup.
Which is the better buy?
It might be tempting to crown AbbVie the runaway winner in this contest. After all, AbbVie's revenue of $8.6 billion during the first quarter -- and its non-GAAP earnings per share (EPS) of $2.42 -- compare favorably to Eli Lilly's revenue of $5.9 billion and non-GAAP EPS of $1.75. The gap between the two companies' revenue and earnings will likely increase now that AbbVie has completed its acquisition of Allergan. Furthermore, AbbVie's forward price-to-earnings (P/E) ratio of 8.7 looks more attractive than Eli Lilly's forward P/E of 22.7.
Lastly, AbbVie sports a much juicier dividend yield -- currently about 4.9%, compared with a yield of 1.8% for Eli Lilly. Note that the average dividend yield for the S&P 500 is about 2.1%. With that said, there may be one major reason to prefer Eli Lilly over AbbVie at the moment: AbbVie's recent acquisition of Allergan did not do any favors to its balance sheet. AbbVie's debt-to-assets ratio of 76.9% is woefully high, while Eli Lilly's 40.7% looks much better.
AbbVie has pledged to pay down much of the debt it incurred as a result of its pricey acquisition as quickly as possible. "The robust cash flow generation of the combined company will be used to rapidly pay down debt, support a strong and growing dividend and pursue additional innovative mid-to-late stage pipeline assets. We have committed to paying down $15 billion to $18 billion of combined company debt by the end of 2021, of which nearly $7 billion will be repaid by the end of May 2020," said AbbVie's CFO, Robert Michael.
Even with Michael's caveat, investors should think long and hard about AbbVie's balance sheet before pulling the trigger. While I do believe the pharma giant remains a buy, I think Eli Lilly is the better pick right now because of AbbVie's significantly higher debt level. AbbVie will become even more attractive if the company keeps its promise to reduce its debt.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Both AbbVie and Eli Lilly could continue to outperform the market moving forward, but which of these two pharma stocks is the better buy today? While I do believe the pharma giant remains a buy, I think Eli Lilly is the better pick right now because of AbbVie's significantly higher debt level. The COVID-19 pandemic has spared few companies, but AbbVie (NYSE: ABBV) and Eli Lilly (NYSE: LLY) are two pharma giants whose businesses are thriving amid the ongoing crisis. | The COVID-19 pandemic has spared few companies, but AbbVie (NYSE: ABBV) and Eli Lilly (NYSE: LLY) are two pharma giants whose businesses are thriving amid the ongoing crisis. After all, AbbVie's revenue of $8.6 billion during the first quarter -- and its non-GAAP earnings per share (EPS) of $2.42 -- compare favorably to Eli Lilly's revenue of $5.9 billion and non-GAAP EPS of $1.75. Year to date, shares of AbbVie are up by 3.2%, while Eli Lilly's stock is up by 17.8%. | Both AbbVie and Eli Lilly could continue to outperform the market moving forward, but which of these two pharma stocks is the better buy today? After all, AbbVie's revenue of $8.6 billion during the first quarter -- and its non-GAAP earnings per share (EPS) of $2.42 -- compare favorably to Eli Lilly's revenue of $5.9 billion and non-GAAP EPS of $1.75. With that said, there may be one major reason to prefer Eli Lilly over AbbVie at the moment: AbbVie's recent acquisition of Allergan did not do any favors to its balance sheet. | Year to date, shares of AbbVie are up by 3.2%, while Eli Lilly's stock is up by 17.8%. While I do believe the pharma giant remains a buy, I think Eli Lilly is the better pick right now because of AbbVie's significantly higher debt level. The COVID-19 pandemic has spared few companies, but AbbVie (NYSE: ABBV) and Eli Lilly (NYSE: LLY) are two pharma giants whose businesses are thriving amid the ongoing crisis. |
24551.0 | 2020-05-22 00:00:00 UTC | Here's Why Editas Could Beat Intellia to a CRISPR Therapy | ABBV | https://www.nasdaq.com/articles/heres-why-editas-could-beat-intellia-to-a-crispr-therapy-2020-05-22 | nan | nan | Breakthrough genome editing companies including Editas (NASDAQ: EDIT) and Intellia Therapeutics (NASDAQ: NTLA) have been in a tailspin since late 2019, and the latest earnings reports from both of those companies show that their revenue from collaborations and partnerships has started to dry up despite positive revenue growth overall.
Both companies aim to produce gene therapies utilizing CRISPR-based genetic editing in living patients, though their methods of delivering that therapy differ substantially. Neither company has a product on the market, though Editas beat Intellia to clinical trials in April when it began testing EDIT-101 for Leber congenital amaurosis, a type of congenital blindness. Nonetheless, Editas is many years away from its first therapy being approved for sale, assuming that EDIT-101 proceeds past phase 1.
Investors considering either of these two companies should be aware that both are risky choices with no guarantee of a payoff over any term. There is one significant difference that wise investors will weigh carefully, however: Editas's partnerships and strategic collaborations appear positioned to be far more fruitful for the company than Intellia's.
Image source: Getty Images.
More equitable collaborations make Editas's future more promising
Intellia is a slightly smaller company than Editas, but its pipeline is comparable in breadth. The companies are of similar age, with Editas having been founded in 2013 and Intellia in 2014. However, Intellia's network of collaborations and research partnerships is far less lucrative, and its pipeline projects may soon require new funding to move forward.
Intellia's partners include pharma giant Novartis (NYSE: NVS) and biotech Regeneron (NASDAQ: REGN). Novartis made a substantial equity investment in Intellia as part of that partnership, and Novartis also retained exclusive rights to develop any engineered CAR-T cancer therapies produced by the collaboration. Intellia also agreed to give Regeneron the exclusive right to develop CRISPR-based therapies targeted at any of 10 different genes in the liver.
The terms of these collaborations make Intellia unable to capitalize on major successes beyond extending the depth of integration with its partners. Thus, in the long view, the company's path forward would still require moving its wholly owned therapy candidates to market, even if its approach is proven by a collaborator's success.
Editas's partnerships, on the other hand, are substantially more equitable. Editas's major drug development collaborations include Allergan (now part of AbbVie (NYSE: ABBV) and biopharma giant Bristol Myers Squibb (NYSE: BMY). The expectation with these collaborations is that the more mature partner companies will be responsible for clinical-stage development, with Editas providing trial-ready therapy candidates and a technology platform to develop similar therapies according to the partners' needs.
Should these candidates show promise in phase 2 clinical trials investigating preliminary efficacy, the company's collaborators would likely respond by initiating new collaborations to capitalize on Editas's platform before its output is replicated by a competitor like Intellia. But Editas isn't in the same position as Intellia with regard to its major collaborations because it has a chance to capture the upside of collaborators' successes as well.
Editas's collaboration with Allergan specifies that both parties have optionality to co-develop any successful programs, and that Editas will share the revenue and losses of those programs equally with Allergan. And Editas's previous collaborations with companies like Celgene demonstrate that companies collaborating with Editas do so to access its gene-editing platform as customers as much as partners.
Editas also has partnerships with research-stage small preclinical companies such as Sandhill Therapeutics. Sandhill's therapeutic platform could benefit immensely from integrating Editas' genetic editing technologies. A similar research-stage pact with BlueRock Therapeutics initiated in 2019 has already advanced to clinical pipeline collaborations for Editas, proving that working with external peers is one of the company's organizational strengths.
Is Editas worth a buy?
It's important to remember that Editas's collaboration advantage is far from the only ingredient the company needs to survive in the medium term. Reliable revenue remains absent, and collaborations are vulnerable to amendment if the company can't deliver what its collaborators need to move products through the clinical trial process.
Data by YCharts
For the moment, neither Editas nor Intellia warrants a definite buy, and present holders of Intellia may want to consider selling. If Intellia cancels any of its preclinical programs, consider it a strong sign that the company's health is deteriorating. Look at Editas's performance in the second and third quarters to see if they're on the right track for a buy early next year, but understand that waiting until next year to reevaluate the company's situation is probably the wisest path.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Editas's major drug development collaborations include Allergan (now part of AbbVie (NYSE: ABBV) and biopharma giant Bristol Myers Squibb (NYSE: BMY). There is one significant difference that wise investors will weigh carefully, however: Editas's partnerships and strategic collaborations appear positioned to be far more fruitful for the company than Intellia's. Thus, in the long view, the company's path forward would still require moving its wholly owned therapy candidates to market, even if its approach is proven by a collaborator's success. | Editas's major drug development collaborations include Allergan (now part of AbbVie (NYSE: ABBV) and biopharma giant Bristol Myers Squibb (NYSE: BMY). Breakthrough genome editing companies including Editas (NASDAQ: EDIT) and Intellia Therapeutics (NASDAQ: NTLA) have been in a tailspin since late 2019, and the latest earnings reports from both of those companies show that their revenue from collaborations and partnerships has started to dry up despite positive revenue growth overall. Thus, in the long view, the company's path forward would still require moving its wholly owned therapy candidates to market, even if its approach is proven by a collaborator's success. | Editas's major drug development collaborations include Allergan (now part of AbbVie (NYSE: ABBV) and biopharma giant Bristol Myers Squibb (NYSE: BMY). Breakthrough genome editing companies including Editas (NASDAQ: EDIT) and Intellia Therapeutics (NASDAQ: NTLA) have been in a tailspin since late 2019, and the latest earnings reports from both of those companies show that their revenue from collaborations and partnerships has started to dry up despite positive revenue growth overall. More equitable collaborations make Editas's future more promising Intellia is a slightly smaller company than Editas, but its pipeline is comparable in breadth. | Editas's major drug development collaborations include Allergan (now part of AbbVie (NYSE: ABBV) and biopharma giant Bristol Myers Squibb (NYSE: BMY). The expectation with these collaborations is that the more mature partner companies will be responsible for clinical-stage development, with Editas providing trial-ready therapy candidates and a technology platform to develop similar therapies according to the partners' needs. Editas also has partnerships with research-stage small preclinical companies such as Sandhill Therapeutics. |
24552.0 | 2020-05-21 00:00:00 UTC | Galapagos and Gilead Sciences Post Successful Yet Disappointing Filgotinib Results | ABBV | https://www.nasdaq.com/articles/galapagos-and-gilead-sciences-post-successful-yet-disappointing-filgotinib-results-2020-05 | nan | nan | Gilead Sciences (NASDAQ: GILD) and its collaboration partner, Galapagos (NASDAQ: GLPG), reported somewhat disappointing news for their anti-inflammatory candidate, filgotinib. The potential blockbuster helped patients with ulcerative colitis achieve remission, but perhaps not as well as Rinvoq, a similar drug from AbbVie (NYSE: ABBV) currently approved to treat patients with rheumatoid arthritis.
Underwhelming data
Ulcerative colitis patients who hadn't previously been treated with an injectable drug were significantly more likely to achieve remission with filgotinib than those given a placebo, but it looks like Gilead Sciences and Galapagos could have trouble competing with AbbVie for this population.
Image source: Getty Images.
During a phase 2b study of Rinvoq, 10% of ulcerative colitis patients treated with 15 mg of the drug daily achieved remission compared to zero patients in the placebo group. Among a similar patient population, filgotinib helped 26.1% achieve remission compared to 15.3% of the placebo group.
Next steps?
Filgotinib and Rinvoq are both Janus kinase (JAK) inhibitors, a class of drugs associated with potentially lethal side effects experienced by an almost imperceptibly small number of clinical trial participants. At the moment, Rinvoq is approved to treat rheumatoid arthritis at a relatively limited 15 mg dosage despite appearing far more effective at higher concentrations.
If regulators take issue with the successful dosage of filgotinib for any reason, the drug's chances of approval for ulcerative colitis will fall much further. While filgotinib is arguably the safest member of the JAK inhibitor class, the lower of two doses tested didn't improve ulcerative colitis patients' chances of achieving remission.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Underwhelming data Ulcerative colitis patients who hadn't previously been treated with an injectable drug were significantly more likely to achieve remission with filgotinib than those given a placebo, but it looks like Gilead Sciences and Galapagos could have trouble competing with AbbVie for this population. The potential blockbuster helped patients with ulcerative colitis achieve remission, but perhaps not as well as Rinvoq, a similar drug from AbbVie (NYSE: ABBV) currently approved to treat patients with rheumatoid arthritis. Filgotinib and Rinvoq are both Janus kinase (JAK) inhibitors, a class of drugs associated with potentially lethal side effects experienced by an almost imperceptibly small number of clinical trial participants. | The potential blockbuster helped patients with ulcerative colitis achieve remission, but perhaps not as well as Rinvoq, a similar drug from AbbVie (NYSE: ABBV) currently approved to treat patients with rheumatoid arthritis. Underwhelming data Ulcerative colitis patients who hadn't previously been treated with an injectable drug were significantly more likely to achieve remission with filgotinib than those given a placebo, but it looks like Gilead Sciences and Galapagos could have trouble competing with AbbVie for this population. During a phase 2b study of Rinvoq, 10% of ulcerative colitis patients treated with 15 mg of the drug daily achieved remission compared to zero patients in the placebo group. | The potential blockbuster helped patients with ulcerative colitis achieve remission, but perhaps not as well as Rinvoq, a similar drug from AbbVie (NYSE: ABBV) currently approved to treat patients with rheumatoid arthritis. Underwhelming data Ulcerative colitis patients who hadn't previously been treated with an injectable drug were significantly more likely to achieve remission with filgotinib than those given a placebo, but it looks like Gilead Sciences and Galapagos could have trouble competing with AbbVie for this population. During a phase 2b study of Rinvoq, 10% of ulcerative colitis patients treated with 15 mg of the drug daily achieved remission compared to zero patients in the placebo group. | The potential blockbuster helped patients with ulcerative colitis achieve remission, but perhaps not as well as Rinvoq, a similar drug from AbbVie (NYSE: ABBV) currently approved to treat patients with rheumatoid arthritis. Underwhelming data Ulcerative colitis patients who hadn't previously been treated with an injectable drug were significantly more likely to achieve remission with filgotinib than those given a placebo, but it looks like Gilead Sciences and Galapagos could have trouble competing with AbbVie for this population. While filgotinib is arguably the safest member of the JAK inhibitor class, the lower of two doses tested didn't improve ulcerative colitis patients' chances of achieving remission. |
24553.0 | 2020-05-21 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Akorn, L Brands, Aurora Cannabis | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-akorn-l-brands-aurora-cannabis-2020-05-21 | nan | nan | Eikon search string for individual stock moves: STXBZ
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Wall Street's main indexes dropped about 1% on Thursday as investors worried about escalating U.S.-China trade tensions and concerns over a quick rebound from a coronavirus-led economic slump. .N
At 11:09 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.44% at 24,467.31. The S&P 500 .SPX was down 0.74% at 2,949.61 and the Nasdaq Composite .IXIC was down 0.96% at 9,285.843. The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 14.2% ** Norwegian Cruise Line Holdings Ltd , up 8.5% ** Royal Caribbean Cruises Ltd , up 6.5% The top three S&P 500 .PL.INX percentage losers: ** National-Oilwell Varco Inc , down 6.3% ** Boston Scientific Corp , down 5.8% ** Hormel Foods Corp , down 5.2% The top three NYSE .PG.N percentage gainers: ** Xtant Medical Holdings Inc , up 218.1% ** Nabors Industries Ltd , up 20.4% ** Aurora Cannabis Inc , up 19.5% The top three NYSE .PL.N percentage losers: ** NanoViricides Inc , down 12.3% ** HUYA Inc , down 12.3% ** Phoenix Tree Holdings Ltd , down 10.6% The top three Nasdaq .PG.O percentage gainers: ** Surface Oncology Inc , up 55.9% ** ADDvantage Technologies Group Inc , up 27.8% ** LMP Automotive Holdings Inc , up 24.3% The top three Nasdaq .PL.O percentage losers: ** Shiftpixy Inc , down 28.1% ** Luckin Coffe Inc , down 28.4% ** Entera Bio Ltd , down 24.7% ** Entergy Corp ETR.N: up 0.1%
BUZZ-BMO raises to "outperform" on attractive valuation ** Keurig Dr Pepper Inc KDP.N: down 2.5%
BUZZ-Drops as co prices $1.1 bln share sale by top investor ** Raytheon Technologies Corp RTX.N: up 2.9%
BUZZ-Rises after RBC initiates with 'outperform' ** Starbucks Corp SBUX.O: up 0.4%
BUZZ-Hints on signs of recovery as lockdown eases ** Boston Scientific Corp BSX.N: down 5.8%
BUZZ-Biggest S&P loser ahead of $1.5 bln capital raise ** Bilibili Inc BILI.O: up 0.5%
BUZZ-JPM expects robust user momentum to continue, upgrades ** Alexion Pharmaceuticals Inc ALXN.O: down 3.3% BUZZ-Potential COVID-19 drugs could face cost hurdles - GlobalData ** Lowe's Companies Inc LOW.N: up 0.8% BUZZ-Street View: Lowe's on track to become a relative winner ** Akorn Inc AKRX.O: down 28.3% BUZZ-Plunges on filing for Chapter 11 bankruptcy protection ** scPharmaceuticals Inc SCPH.O: down 20.3% BUZZ-scPharmaceuticals drops on stock offering ** Teekay Tankers Ltd TNK.N: up 1.2% BUZZ-Rises on Q1 beat, minimal impact from COVID-19 ** Sonoco Products Co SON.N: up 3.5% BUZZ-Wells Fargo upgrades to 'overweight' on favorable price, cost factors ** Under Armour Inc UAA.N: up 0.8% BUZZ-Slips as co plans $400 mln convertible debt offering ** BJ's Wholesale Club Holdings Inc BJ.N: up 13.5% BUZZ-Jumps after results beat ** Medtronic Plc MDT.N: down 2.2% BUZZ-Drops after Q4 profit misses estimates on COVID-19 hit ** Ruth's Hospitality Group Inc RUTH.O: down 12.3% BUZZ-Drops on $43.5 mln stock offering ** Aurora Cannabis Inc ACB.N: up 19.3% BUZZ-High on deal to enter U.S. market ** Target Corp TGT.N: down 0.8% BUZZ-Street View: Target's digital spend likely to drive growth ** Synlogic Inc SYBX.O: down 8.6% ** Abbvie Inc ABBV.N: down 0.3% BUZZ-Slumps on terminating bowel disease treatment deal with Abbvie ** L Brands Inc LB.N: up 14.2% BUZZ-Jumps on plans to scale down struggling Victoria's Secret unit ** Baidu Inc BIDU.O: down 0.9% BUZZ-Falls on report of plans to leave Nasdaq ** Flexion Therapeutics Inc FLXN.O: down 10.0% BUZZ-Falls after pricing upsized stock deal ** MGM Resorts International MGM.N: down 4.1% BUZZ-Brokerages cut PT citing slower recovery in Las Vegas ** Goldman Sachs Group Inc GS.N: down 1.6% ** JPMorgan Chase & Co JPM.N: down 1.2% ** Citigroup Inc C.N: down 1.0% ** Wells Fargo & Co WFC.N: down 0.2% ** Bank of America Corp BAC.N: down 0.1% ** Morgan Stanley MS.N: down 2.4% BUZZ-U.S. banks: Track broader market decline on mounting trade tensions
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up 0.02%
Information Technology
.SPLRCT
down 1.04%
Materials
.SPLRCM
down 0.96%
Real Estate
.SPLRCR
down 0.70%
Utilities
.SPLRCU
down 0.29%
(Compiled by Amal S in Bengaluru)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 14.2% ** Norwegian Cruise Line Holdings Ltd , up 8.5% ** Royal Caribbean Cruises Ltd , up 6.5% The top three S&P 500 .PL.INX percentage losers: ** National-Oilwell Varco Inc , down 6.3% ** Boston Scientific Corp , down 5.8% ** Hormel Foods Corp , down 5.2% The top three NYSE .PG.N percentage gainers: ** Xtant Medical Holdings Inc , up 218.1% ** Nabors Industries Ltd , up 20.4% ** Aurora Cannabis Inc , up 19.5% The top three NYSE .PL.N percentage losers: ** NanoViricides Inc , down 12.3% ** HUYA Inc , down 12.3% ** Phoenix Tree Holdings Ltd , down 10.6% The top three Nasdaq .PG.O percentage gainers: ** Surface Oncology Inc , up 55.9% ** ADDvantage Technologies Group Inc , up 27.8% ** LMP Automotive Holdings Inc , up 24.3% The top three Nasdaq .PL.O percentage losers: ** Shiftpixy Inc , down 28.1% ** Luckin Coffe Inc , down 28.4% ** Entera Bio Ltd , down 24.7% ** Entergy Corp ETR.N: up 0.1% BUZZ-BMO raises to "outperform" on attractive valuation ** Keurig Dr Pepper Inc KDP.N: down 2.5% BUZZ-Drops as co prices $1.1 bln share sale by top investor ** Raytheon Technologies Corp RTX.N: up 2.9% BUZZ-Rises after RBC initiates with 'outperform' ** Starbucks Corp SBUX.O: up 0.4% BUZZ-Hints on signs of recovery as lockdown eases ** Boston Scientific Corp BSX.N: down 5.8% BUZZ-Biggest S&P loser ahead of $1.5 bln capital raise ** Bilibili Inc BILI.O: up 0.5% BUZZ-JPM expects robust user momentum to continue, upgrades ** Alexion Pharmaceuticals Inc ALXN.O: down 3.3% BUZZ-Potential COVID-19 drugs could face cost hurdles - GlobalData ** Lowe's Companies Inc LOW.N: up 0.8% BUZZ-Street View: Lowe's on track to become a relative winner ** Akorn Inc AKRX.O: down 28.3% BUZZ-Plunges on filing for Chapter 11 bankruptcy protection ** scPharmaceuticals Inc SCPH.O: down 20.3% BUZZ-scPharmaceuticals drops on stock offering ** Teekay Tankers Ltd TNK.N: up 1.2% BUZZ-Rises on Q1 beat, minimal impact from COVID-19 ** Sonoco Products Co SON.N: up 3.5% BUZZ-Wells Fargo upgrades to 'overweight' on favorable price, cost factors ** Under Armour Inc UAA.N: up 0.8% BUZZ-Slips as co plans $400 mln convertible debt offering ** BJ's Wholesale Club Holdings Inc BJ.N: up 13.5% BUZZ-Jumps after results beat ** Medtronic Plc MDT.N: down 2.2% BUZZ-Drops after Q4 profit misses estimates on COVID-19 hit ** Ruth's Hospitality Group Inc RUTH.O: down 12.3% BUZZ-Drops on $43.5 mln stock offering ** Aurora Cannabis Inc ACB.N: up 19.3% BUZZ-High on deal to enter U.S. market ** Target Corp TGT.N: down 0.8% BUZZ-Street View: Target's digital spend likely to drive growth ** Synlogic Inc SYBX.O: down 8.6% ** Abbvie Inc ABBV.N: down 0.3% BUZZ-Slumps on terminating bowel disease treatment deal with Abbvie ** L Brands Inc LB.N: up 14.2% BUZZ-Jumps on plans to scale down struggling Victoria's Secret unit ** Baidu Inc BIDU.O: down 0.9% BUZZ-Falls on report of plans to leave Nasdaq ** Flexion Therapeutics Inc FLXN.O: down 10.0% BUZZ-Falls after pricing upsized stock deal ** MGM Resorts International MGM.N: down 4.1% BUZZ-Brokerages cut PT citing slower recovery in Las Vegas ** Goldman Sachs Group Inc GS.N: down 1.6% ** JPMorgan Chase & Co JPM.N: down 1.2% ** Citigroup Inc C.N: down 1.0% ** Wells Fargo & Co WFC.N: down 0.2% ** Bank of America Corp BAC.N: down 0.1% ** Morgan Stanley MS.N: down 2.4% BUZZ-U.S. banks: Track broader market decline on mounting trade tensions The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes dropped about 1% on Thursday as investors worried about escalating U.S.-China trade tensions and concerns over a quick rebound from a coronavirus-led economic slump. down 0.29% (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 14.2% ** Norwegian Cruise Line Holdings Ltd , up 8.5% ** Royal Caribbean Cruises Ltd , up 6.5% The top three S&P 500 .PL.INX percentage losers: ** National-Oilwell Varco Inc , down 6.3% ** Boston Scientific Corp , down 5.8% ** Hormel Foods Corp , down 5.2% The top three NYSE .PG.N percentage gainers: ** Xtant Medical Holdings Inc , up 218.1% ** Nabors Industries Ltd , up 20.4% ** Aurora Cannabis Inc , up 19.5% The top three NYSE .PL.N percentage losers: ** NanoViricides Inc , down 12.3% ** HUYA Inc , down 12.3% ** Phoenix Tree Holdings Ltd , down 10.6% The top three Nasdaq .PG.O percentage gainers: ** Surface Oncology Inc , up 55.9% ** ADDvantage Technologies Group Inc , up 27.8% ** LMP Automotive Holdings Inc , up 24.3% The top three Nasdaq .PL.O percentage losers: ** Shiftpixy Inc , down 28.1% ** Luckin Coffe Inc , down 28.4% ** Entera Bio Ltd , down 24.7% ** Entergy Corp ETR.N: up 0.1% BUZZ-BMO raises to "outperform" on attractive valuation ** Keurig Dr Pepper Inc KDP.N: down 2.5% BUZZ-Drops as co prices $1.1 bln share sale by top investor ** Raytheon Technologies Corp RTX.N: up 2.9% BUZZ-Rises after RBC initiates with 'outperform' ** Starbucks Corp SBUX.O: up 0.4% BUZZ-Hints on signs of recovery as lockdown eases ** Boston Scientific Corp BSX.N: down 5.8% BUZZ-Biggest S&P loser ahead of $1.5 bln capital raise ** Bilibili Inc BILI.O: up 0.5% BUZZ-JPM expects robust user momentum to continue, upgrades ** Alexion Pharmaceuticals Inc ALXN.O: down 3.3% BUZZ-Potential COVID-19 drugs could face cost hurdles - GlobalData ** Lowe's Companies Inc LOW.N: up 0.8% BUZZ-Street View: Lowe's on track to become a relative winner ** Akorn Inc AKRX.O: down 28.3% BUZZ-Plunges on filing for Chapter 11 bankruptcy protection ** scPharmaceuticals Inc SCPH.O: down 20.3% BUZZ-scPharmaceuticals drops on stock offering ** Teekay Tankers Ltd TNK.N: up 1.2% BUZZ-Rises on Q1 beat, minimal impact from COVID-19 ** Sonoco Products Co SON.N: up 3.5% BUZZ-Wells Fargo upgrades to 'overweight' on favorable price, cost factors ** Under Armour Inc UAA.N: up 0.8% BUZZ-Slips as co plans $400 mln convertible debt offering ** BJ's Wholesale Club Holdings Inc BJ.N: up 13.5% BUZZ-Jumps after results beat ** Medtronic Plc MDT.N: down 2.2% BUZZ-Drops after Q4 profit misses estimates on COVID-19 hit ** Ruth's Hospitality Group Inc RUTH.O: down 12.3% BUZZ-Drops on $43.5 mln stock offering ** Aurora Cannabis Inc ACB.N: up 19.3% BUZZ-High on deal to enter U.S. market ** Target Corp TGT.N: down 0.8% BUZZ-Street View: Target's digital spend likely to drive growth ** Synlogic Inc SYBX.O: down 8.6% ** Abbvie Inc ABBV.N: down 0.3% BUZZ-Slumps on terminating bowel disease treatment deal with Abbvie ** L Brands Inc LB.N: up 14.2% BUZZ-Jumps on plans to scale down struggling Victoria's Secret unit ** Baidu Inc BIDU.O: down 0.9% BUZZ-Falls on report of plans to leave Nasdaq ** Flexion Therapeutics Inc FLXN.O: down 10.0% BUZZ-Falls after pricing upsized stock deal ** MGM Resorts International MGM.N: down 4.1% BUZZ-Brokerages cut PT citing slower recovery in Las Vegas ** Goldman Sachs Group Inc GS.N: down 1.6% ** JPMorgan Chase & Co JPM.N: down 1.2% ** Citigroup Inc C.N: down 1.0% ** Wells Fargo & Co WFC.N: down 0.2% ** Bank of America Corp BAC.N: down 0.1% ** Morgan Stanley MS.N: down 2.4% BUZZ-U.S. banks: Track broader market decline on mounting trade tensions The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes dropped about 1% on Thursday as investors worried about escalating U.S.-China trade tensions and concerns over a quick rebound from a coronavirus-led economic slump. down 0.29% (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 14.2% ** Norwegian Cruise Line Holdings Ltd , up 8.5% ** Royal Caribbean Cruises Ltd , up 6.5% The top three S&P 500 .PL.INX percentage losers: ** National-Oilwell Varco Inc , down 6.3% ** Boston Scientific Corp , down 5.8% ** Hormel Foods Corp , down 5.2% The top three NYSE .PG.N percentage gainers: ** Xtant Medical Holdings Inc , up 218.1% ** Nabors Industries Ltd , up 20.4% ** Aurora Cannabis Inc , up 19.5% The top three NYSE .PL.N percentage losers: ** NanoViricides Inc , down 12.3% ** HUYA Inc , down 12.3% ** Phoenix Tree Holdings Ltd , down 10.6% The top three Nasdaq .PG.O percentage gainers: ** Surface Oncology Inc , up 55.9% ** ADDvantage Technologies Group Inc , up 27.8% ** LMP Automotive Holdings Inc , up 24.3% The top three Nasdaq .PL.O percentage losers: ** Shiftpixy Inc , down 28.1% ** Luckin Coffe Inc , down 28.4% ** Entera Bio Ltd , down 24.7% ** Entergy Corp ETR.N: up 0.1% BUZZ-BMO raises to "outperform" on attractive valuation ** Keurig Dr Pepper Inc KDP.N: down 2.5% BUZZ-Drops as co prices $1.1 bln share sale by top investor ** Raytheon Technologies Corp RTX.N: up 2.9% BUZZ-Rises after RBC initiates with 'outperform' ** Starbucks Corp SBUX.O: up 0.4% BUZZ-Hints on signs of recovery as lockdown eases ** Boston Scientific Corp BSX.N: down 5.8% BUZZ-Biggest S&P loser ahead of $1.5 bln capital raise ** Bilibili Inc BILI.O: up 0.5% BUZZ-JPM expects robust user momentum to continue, upgrades ** Alexion Pharmaceuticals Inc ALXN.O: down 3.3% BUZZ-Potential COVID-19 drugs could face cost hurdles - GlobalData ** Lowe's Companies Inc LOW.N: up 0.8% BUZZ-Street View: Lowe's on track to become a relative winner ** Akorn Inc AKRX.O: down 28.3% BUZZ-Plunges on filing for Chapter 11 bankruptcy protection ** scPharmaceuticals Inc SCPH.O: down 20.3% BUZZ-scPharmaceuticals drops on stock offering ** Teekay Tankers Ltd TNK.N: up 1.2% BUZZ-Rises on Q1 beat, minimal impact from COVID-19 ** Sonoco Products Co SON.N: up 3.5% BUZZ-Wells Fargo upgrades to 'overweight' on favorable price, cost factors ** Under Armour Inc UAA.N: up 0.8% BUZZ-Slips as co plans $400 mln convertible debt offering ** BJ's Wholesale Club Holdings Inc BJ.N: up 13.5% BUZZ-Jumps after results beat ** Medtronic Plc MDT.N: down 2.2% BUZZ-Drops after Q4 profit misses estimates on COVID-19 hit ** Ruth's Hospitality Group Inc RUTH.O: down 12.3% BUZZ-Drops on $43.5 mln stock offering ** Aurora Cannabis Inc ACB.N: up 19.3% BUZZ-High on deal to enter U.S. market ** Target Corp TGT.N: down 0.8% BUZZ-Street View: Target's digital spend likely to drive growth ** Synlogic Inc SYBX.O: down 8.6% ** Abbvie Inc ABBV.N: down 0.3% BUZZ-Slumps on terminating bowel disease treatment deal with Abbvie ** L Brands Inc LB.N: up 14.2% BUZZ-Jumps on plans to scale down struggling Victoria's Secret unit ** Baidu Inc BIDU.O: down 0.9% BUZZ-Falls on report of plans to leave Nasdaq ** Flexion Therapeutics Inc FLXN.O: down 10.0% BUZZ-Falls after pricing upsized stock deal ** MGM Resorts International MGM.N: down 4.1% BUZZ-Brokerages cut PT citing slower recovery in Las Vegas ** Goldman Sachs Group Inc GS.N: down 1.6% ** JPMorgan Chase & Co JPM.N: down 1.2% ** Citigroup Inc C.N: down 1.0% ** Wells Fargo & Co WFC.N: down 0.2% ** Bank of America Corp BAC.N: down 0.1% ** Morgan Stanley MS.N: down 2.4% BUZZ-U.S. banks: Track broader market decline on mounting trade tensions The 11 major S&P 500 sectors: Communication Services down 0.47% Consumer Discretionary down 0.62% Consumer Staples | The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 14.2% ** Norwegian Cruise Line Holdings Ltd , up 8.5% ** Royal Caribbean Cruises Ltd , up 6.5% The top three S&P 500 .PL.INX percentage losers: ** National-Oilwell Varco Inc , down 6.3% ** Boston Scientific Corp , down 5.8% ** Hormel Foods Corp , down 5.2% The top three NYSE .PG.N percentage gainers: ** Xtant Medical Holdings Inc , up 218.1% ** Nabors Industries Ltd , up 20.4% ** Aurora Cannabis Inc , up 19.5% The top three NYSE .PL.N percentage losers: ** NanoViricides Inc , down 12.3% ** HUYA Inc , down 12.3% ** Phoenix Tree Holdings Ltd , down 10.6% The top three Nasdaq .PG.O percentage gainers: ** Surface Oncology Inc , up 55.9% ** ADDvantage Technologies Group Inc , up 27.8% ** LMP Automotive Holdings Inc , up 24.3% The top three Nasdaq .PL.O percentage losers: ** Shiftpixy Inc , down 28.1% ** Luckin Coffe Inc , down 28.4% ** Entera Bio Ltd , down 24.7% ** Entergy Corp ETR.N: up 0.1% BUZZ-BMO raises to "outperform" on attractive valuation ** Keurig Dr Pepper Inc KDP.N: down 2.5% BUZZ-Drops as co prices $1.1 bln share sale by top investor ** Raytheon Technologies Corp RTX.N: up 2.9% BUZZ-Rises after RBC initiates with 'outperform' ** Starbucks Corp SBUX.O: up 0.4% BUZZ-Hints on signs of recovery as lockdown eases ** Boston Scientific Corp BSX.N: down 5.8% BUZZ-Biggest S&P loser ahead of $1.5 bln capital raise ** Bilibili Inc BILI.O: up 0.5% BUZZ-JPM expects robust user momentum to continue, upgrades ** Alexion Pharmaceuticals Inc ALXN.O: down 3.3% BUZZ-Potential COVID-19 drugs could face cost hurdles - GlobalData ** Lowe's Companies Inc LOW.N: up 0.8% BUZZ-Street View: Lowe's on track to become a relative winner ** Akorn Inc AKRX.O: down 28.3% BUZZ-Plunges on filing for Chapter 11 bankruptcy protection ** scPharmaceuticals Inc SCPH.O: down 20.3% BUZZ-scPharmaceuticals drops on stock offering ** Teekay Tankers Ltd TNK.N: up 1.2% BUZZ-Rises on Q1 beat, minimal impact from COVID-19 ** Sonoco Products Co SON.N: up 3.5% BUZZ-Wells Fargo upgrades to 'overweight' on favorable price, cost factors ** Under Armour Inc UAA.N: up 0.8% BUZZ-Slips as co plans $400 mln convertible debt offering ** BJ's Wholesale Club Holdings Inc BJ.N: up 13.5% BUZZ-Jumps after results beat ** Medtronic Plc MDT.N: down 2.2% BUZZ-Drops after Q4 profit misses estimates on COVID-19 hit ** Ruth's Hospitality Group Inc RUTH.O: down 12.3% BUZZ-Drops on $43.5 mln stock offering ** Aurora Cannabis Inc ACB.N: up 19.3% BUZZ-High on deal to enter U.S. market ** Target Corp TGT.N: down 0.8% BUZZ-Street View: Target's digital spend likely to drive growth ** Synlogic Inc SYBX.O: down 8.6% ** Abbvie Inc ABBV.N: down 0.3% BUZZ-Slumps on terminating bowel disease treatment deal with Abbvie ** L Brands Inc LB.N: up 14.2% BUZZ-Jumps on plans to scale down struggling Victoria's Secret unit ** Baidu Inc BIDU.O: down 0.9% BUZZ-Falls on report of plans to leave Nasdaq ** Flexion Therapeutics Inc FLXN.O: down 10.0% BUZZ-Falls after pricing upsized stock deal ** MGM Resorts International MGM.N: down 4.1% BUZZ-Brokerages cut PT citing slower recovery in Las Vegas ** Goldman Sachs Group Inc GS.N: down 1.6% ** JPMorgan Chase & Co JPM.N: down 1.2% ** Citigroup Inc C.N: down 1.0% ** Wells Fargo & Co WFC.N: down 0.2% ** Bank of America Corp BAC.N: down 0.1% ** Morgan Stanley MS.N: down 2.4% BUZZ-U.S. banks: Track broader market decline on mounting trade tensions The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes dropped about 1% on Thursday as investors worried about escalating U.S.-China trade tensions and concerns over a quick rebound from a coronavirus-led economic slump. ET, the Dow Jones Industrial Average .DJI was down 0.44% at 24,467.31. |
24554.0 | 2020-05-21 00:00:00 UTC | 5 Dividend Aristocrats Where Analysts See Capital Gains | ABBV | https://www.nasdaq.com/articles/5-dividend-aristocrats-where-analysts-see-capital-gains-2020-05-21 | nan | nan | To become a "Dividend Aristocrat," a dividend paying company must accomplish an incredible feat: consistently increase shareholder dividends every year for at least 20 consecutive years. Companies with this kind of track record tend to attract a lot of investor attention — and furthermore, "tracking" funds that follow the Dividend Aristocrats Index must own them. With all of this demand for shares, dividend growth stocks can sometimes become "fully priced," where there isn't much upside to analyst targets.
But we here at ETF Channel have looked through the underlying holdings of the SPDR S&P Dividend ETF (which tracks the S&P High Yield Dividend Aristocrats Index), and found these five dividend growth stocks that actually still have fairly substantial upside to the average analyst target price 12 months out. Which means, if the analysts are correct, these are five dividend growth stocks that could produce capital gains in addition to their growing dividend payments.
In the first table below, we present the five stocks. The recent share price, average analyst 12-month target price, and percentage upside to reach the analyst target are presented.
STOCK RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
Becton, Dickinson & Co (Symbol: BDX) $242.99 $275.77 13.49%
Johnson & Johnson (Symbol: JNJ) $147.68 $165.31 11.94%
AptarGroup Inc. (Symbol: ATR) $104.41 $116.00 11.10%
AbbVie Inc (Symbol: ABBV) $91.19 $100.64 10.36%
International Business Machines Corp (Symbol: IBM) $121.38 $132.82 9.42%
The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. To ballpark that total return potential, we have added the current yield to the analyst target price upside, in order to arrive at the 12-month total return potential:
STOCK DIVIDEND YIELD % UPSIDE TO ANALYST TARGET IMPLIED TOTAL RETURN POTENTIAL
Becton, Dickinson & Co (Symbol: BDX) 1.30% 13.49% 14.79%
Johnson & Johnson (Symbol: JNJ) 2.74% 11.94% 14.68%
AptarGroup Inc. (Symbol: ATR) 1.38% 11.10% 12.48%
AbbVie Inc (Symbol: ABBV) 5.18% 10.36% 15.54%
International Business Machines Corp (Symbol: IBM) 5.37% 9.42% 14.79%
Another consideration with dividend growth stocks is just how much the dividend is growing. We looked up the trailing twelve months worth of dividends shareholders of each of the above five companies have collected, and then also looked up the same number for the prior trailing twelve months. This gives us a rough yardstick to see how much the dividend has grown, from one trailing twelve month period to another.
STOCK PRIOR TTM DIVIDEND TTM DIVIDEND % GROWTH
Becton, Dickinson & Co (Symbol: BDX) $3.04 $3.12 2.63%
Johnson & Johnson (Symbol: JNJ) $3.6 $3.8 5.56%
AptarGroup Inc. (Symbol: ATR) $1.38 $1.44 4.35%
AbbVie Inc (Symbol: ABBV) $4.06 $4.5 10.84%
International Business Machines Corp (Symbol: IBM) $6.33 $6.49 2.53%
These five stocks are part of our full Dividend Aristocrats List. The average analyst target price data upon which this article was based, is courtesy of data provided by Zacks Investment Research via Quandl.com.
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Dividend Growth Stocks: 25 Aristocrats »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Get the latest Zacks research report on ABBV — FREE Get the latest Zacks research report on IBM — FREE Dividend Growth Stocks: 25 Aristocrats » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Becton, Dickinson & Co (Symbol: BDX) $242.99 $275.77 13.49% Johnson & Johnson (Symbol: JNJ) $147.68 $165.31 11.94% AptarGroup Inc. (Symbol: ATR) $104.41 $116.00 11.10% AbbVie Inc (Symbol: ABBV) $91.19 $100.64 10.36% International Business Machines Corp (Symbol: IBM) $121.38 $132.82 9.42% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Becton, Dickinson & Co (Symbol: BDX) 1.30% 13.49% 14.79% Johnson & Johnson (Symbol: JNJ) 2.74% 11.94% 14.68% AptarGroup Inc. (Symbol: ATR) 1.38% 11.10% 12.48% AbbVie Inc (Symbol: ABBV) 5.18% 10.36% 15.54% International Business Machines Corp (Symbol: IBM) 5.37% 9.42% 14.79% Another consideration with dividend growth stocks is just how much the dividend is growing. | Becton, Dickinson & Co (Symbol: BDX) $242.99 $275.77 13.49% Johnson & Johnson (Symbol: JNJ) $147.68 $165.31 11.94% AptarGroup Inc. (Symbol: ATR) $104.41 $116.00 11.10% AbbVie Inc (Symbol: ABBV) $91.19 $100.64 10.36% International Business Machines Corp (Symbol: IBM) $121.38 $132.82 9.42% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Becton, Dickinson & Co (Symbol: BDX) 1.30% 13.49% 14.79% Johnson & Johnson (Symbol: JNJ) 2.74% 11.94% 14.68% AptarGroup Inc. (Symbol: ATR) 1.38% 11.10% 12.48% AbbVie Inc (Symbol: ABBV) 5.18% 10.36% 15.54% International Business Machines Corp (Symbol: IBM) 5.37% 9.42% 14.79% Another consideration with dividend growth stocks is just how much the dividend is growing. Becton, Dickinson & Co (Symbol: BDX) $3.04 $3.12 2.63% Johnson & Johnson (Symbol: JNJ) $3.6 $3.8 5.56% AptarGroup Inc. (Symbol: ATR) $1.38 $1.44 4.35% AbbVie Inc (Symbol: ABBV) $4.06 $4.5 10.84% International Business Machines Corp (Symbol: IBM) $6.33 $6.49 2.53% These five stocks are part of our full Dividend Aristocrats List. | Becton, Dickinson & Co (Symbol: BDX) $242.99 $275.77 13.49% Johnson & Johnson (Symbol: JNJ) $147.68 $165.31 11.94% AptarGroup Inc. (Symbol: ATR) $104.41 $116.00 11.10% AbbVie Inc (Symbol: ABBV) $91.19 $100.64 10.36% International Business Machines Corp (Symbol: IBM) $121.38 $132.82 9.42% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Becton, Dickinson & Co (Symbol: BDX) 1.30% 13.49% 14.79% Johnson & Johnson (Symbol: JNJ) 2.74% 11.94% 14.68% AptarGroup Inc. (Symbol: ATR) 1.38% 11.10% 12.48% AbbVie Inc (Symbol: ABBV) 5.18% 10.36% 15.54% International Business Machines Corp (Symbol: IBM) 5.37% 9.42% 14.79% Another consideration with dividend growth stocks is just how much the dividend is growing. Becton, Dickinson & Co (Symbol: BDX) $3.04 $3.12 2.63% Johnson & Johnson (Symbol: JNJ) $3.6 $3.8 5.56% AptarGroup Inc. (Symbol: ATR) $1.38 $1.44 4.35% AbbVie Inc (Symbol: ABBV) $4.06 $4.5 10.84% International Business Machines Corp (Symbol: IBM) $6.33 $6.49 2.53% These five stocks are part of our full Dividend Aristocrats List. | Becton, Dickinson & Co (Symbol: BDX) $242.99 $275.77 13.49% Johnson & Johnson (Symbol: JNJ) $147.68 $165.31 11.94% AptarGroup Inc. (Symbol: ATR) $104.41 $116.00 11.10% AbbVie Inc (Symbol: ABBV) $91.19 $100.64 10.36% International Business Machines Corp (Symbol: IBM) $121.38 $132.82 9.42% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Becton, Dickinson & Co (Symbol: BDX) 1.30% 13.49% 14.79% Johnson & Johnson (Symbol: JNJ) 2.74% 11.94% 14.68% AptarGroup Inc. (Symbol: ATR) 1.38% 11.10% 12.48% AbbVie Inc (Symbol: ABBV) 5.18% 10.36% 15.54% International Business Machines Corp (Symbol: IBM) 5.37% 9.42% 14.79% Another consideration with dividend growth stocks is just how much the dividend is growing. Becton, Dickinson & Co (Symbol: BDX) $3.04 $3.12 2.63% Johnson & Johnson (Symbol: JNJ) $3.6 $3.8 5.56% AptarGroup Inc. (Symbol: ATR) $1.38 $1.44 4.35% AbbVie Inc (Symbol: ABBV) $4.06 $4.5 10.84% International Business Machines Corp (Symbol: IBM) $6.33 $6.49 2.53% These five stocks are part of our full Dividend Aristocrats List. |
24555.0 | 2020-05-21 00:00:00 UTC | Noteworthy ETF Inflows: MTUM, BMY, ABBV, VRTX | ABBV | https://www.nasdaq.com/articles/noteworthy-etf-inflows%3A-mtum-bmy-abbv-vrtx-2020-05-21 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Edge MSCI USA Momentum Factor ETF (Symbol: MTUM) where we have detected an approximate $273.4 million dollar inflow -- that's a 3.0% increase week over week in outstanding units (from 73,700,000 to 75,900,000). Among the largest underlying components of MTUM, in trading today Bristol-Myers Squibb Co. (Symbol: BMY) is trading flat, AbbVie Inc (Symbol: ABBV) is down about 0.3%, and Vertex Pharmaceuticals, Inc. (Symbol: VRTX) is lower by about 0.2%. For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average:
Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $123.76. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of MTUM, in trading today Bristol-Myers Squibb Co. (Symbol: BMY) is trading flat, AbbVie Inc (Symbol: ABBV) is down about 0.3%, and Vertex Pharmaceuticals, Inc. (Symbol: VRTX) is lower by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Edge MSCI USA Momentum Factor ETF (Symbol: MTUM) where we have detected an approximate $273.4 million dollar inflow -- that's a 3.0% increase week over week in outstanding units (from 73,700,000 to 75,900,000). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of MTUM, in trading today Bristol-Myers Squibb Co. (Symbol: BMY) is trading flat, AbbVie Inc (Symbol: ABBV) is down about 0.3%, and Vertex Pharmaceuticals, Inc. (Symbol: VRTX) is lower by about 0.2%. For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average: Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $123.76. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of MTUM, in trading today Bristol-Myers Squibb Co. (Symbol: BMY) is trading flat, AbbVie Inc (Symbol: ABBV) is down about 0.3%, and Vertex Pharmaceuticals, Inc. (Symbol: VRTX) is lower by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Edge MSCI USA Momentum Factor ETF (Symbol: MTUM) where we have detected an approximate $273.4 million dollar inflow -- that's a 3.0% increase week over week in outstanding units (from 73,700,000 to 75,900,000). For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average: Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $123.76. | Among the largest underlying components of MTUM, in trading today Bristol-Myers Squibb Co. (Symbol: BMY) is trading flat, AbbVie Inc (Symbol: ABBV) is down about 0.3%, and Vertex Pharmaceuticals, Inc. (Symbol: VRTX) is lower by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Edge MSCI USA Momentum Factor ETF (Symbol: MTUM) where we have detected an approximate $273.4 million dollar inflow -- that's a 3.0% increase week over week in outstanding units (from 73,700,000 to 75,900,000). For a complete list of holdings, visit the MTUM Holdings page » The chart below shows the one year price performance of MTUM, versus its 200 day moving average: Looking at the chart above, MTUM's low point in its 52 week range is $88.83 per share, with $137.69 as the 52 week high point — that compares with a last trade of $123.76. |
24556.0 | 2020-05-19 00:00:00 UTC | AbbVie Is More Than Just a Portfolio of Drugs and Acquisitions | ABBV | https://www.nasdaq.com/articles/abbvie-is-more-than-just-a-portfolio-of-drugs-and-acquisitions-2020-05-19 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Shares of AbbVie (NYSE:ABBV) are up nearly 10% since the company finalized its leveraged buyout of Allergan. The narrative surrounding the Allergan deal is that AbbVie needed to diversify its portfolio. Before you consider investing in ABBV stock, let’s check out the accuracy of that claim.
Source: Piotr Swat / Shutterstock.com
The company’s signature drug, Humira, provided 54.5% of the company’s total revenue in the last quarter. Humira continues to be a strong driver of revenue for the company. However, Humira has already lost its patent protection in Europe and it will lose the same protection in the United States in three years.
So, with that in mind, it would seem that the addition of Allergan and its prominence in the areas of medical aesthetics and neuroscience will make a nice addition. Allergan is primarily known for Botox Cosmetic.
However, AbbVie is a stock that has been trending up since it first went public. And while Humira may have put the company on the map, the company had bench strength even before Allergan entered the fold.
AbbVie Had a Strong Portfolio Without Allergan
The leveraged buyout of Allergan adds diversity to AbbVie’s portfolio. However, the company has a strong pipeline. And AbbVie continues to move more oncology drugs through the clinical trial pipeline.
7 A-Rated Gold Stocks to Buy For Your Portfolio Hedge
Like too many people I’m afraid, I have to use both hands and maybe even both feet to count the number of friends and family members I’ve lost to cancer.
In addition, I know of several people who have recently received a cancer diagnosis. Some have an optimistic prognosis; some perhaps less so. The very fact that there is a degree of optimism about cancer is a marvel.
However, cancer isn’t getting a lot of attention today. Covid-19 and the underlying novel coronavirus that triggers the disease have garnered much of the national attention. And neither AbbVie nor Allergan are significant players in the national race for a treatment and/or vaccine.
But regardless of the breakthroughs that will be made to treat Covid-19, cancer was here first. And it continues to baffle the medical community. That means AbbVie’s oncology pipeline will be significant both during and through a post-pandemic world.
AbbVie Has a Strong Pipeline Beyond Oncology
But even without cancer treatment, the AbbVie story is about more than Humira. Last year the company launched two drugs that have the potential to make up any decline in sales once Humira loses its patent protection in three years.
Skyrizi, which launched in April, is a drug used in the treatment of psoriasis. Rinvoq, which was launched in August, is used in the treatment of rheumatoid arthritis.
Speaking at the JPMorgan Chase Healthcare Conference, AbbVie CEO Rick Gonzalez pointed out that Skyrizi has already captured about 25% of the “in-play” market share. Meanwhile Rinvoq has captured about 9% of its “in-play” share. In-play means either new patients or patients switching treatments.
And if Gonzalez is right, by the time Humira loses its patent protection, the combination of Skyrizi and Rinvoq may surpass $20 billion in sales, a figure that Humira for all its success has not hit.
UBS analyst Navin Jacob doesn’t project quite that high of a number. But in making a bullish call on ABBV stock, Jacob is forecasting the potential of $11 billion between the two drugs.
ABBV Stock Should Be a Great Defensive Stock
Finally, drug stocks typically perform well during bear markets and economic recessions. During this unprecedented time, many Americans are staying away from “unnecessary” medical procedures. But they’re not likely to stop buying their prescriptions.
And according to David Risinger of Morgan Stanley, with Allergan in the fold, AbbVie has just 45% of its earnings at risk to expiring patents (and therefore competition) between now and 2030. That puts the company in better position that other big-name drug companies such as Merck (NYSE:MRK), Pfizer (NYSE:PFE), and Bristol-Myers Squibb (NYSE:BMY).
Finally, you have to factor in the company’s dividend which the company has increased every year for the last 47 years and has a current yield of over 5%. ABBV stock was a solid investment before Allergan. With the addition of Allergan, the company should start attracting growth investors as well as income investors.
Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019. As of this writing, Chris Markoch did not hold a position in any of the aforementioned securities.
The post AbbVie Is More Than Just a Portfolio of Drugs and Acquisitions appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Speaking at the JPMorgan Chase Healthcare Conference, AbbVie CEO Rick Gonzalez pointed out that Skyrizi has already captured about 25% of the “in-play” market share. And according to David Risinger of Morgan Stanley, with Allergan in the fold, AbbVie has just 45% of its earnings at risk to expiring patents (and therefore competition) between now and 2030. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of AbbVie (NYSE:ABBV) are up nearly 10% since the company finalized its leveraged buyout of Allergan. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of AbbVie (NYSE:ABBV) are up nearly 10% since the company finalized its leveraged buyout of Allergan. AbbVie Had a Strong Portfolio Without Allergan The leveraged buyout of Allergan adds diversity to AbbVie’s portfolio. The narrative surrounding the Allergan deal is that AbbVie needed to diversify its portfolio. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of AbbVie (NYSE:ABBV) are up nearly 10% since the company finalized its leveraged buyout of Allergan. AbbVie Had a Strong Portfolio Without Allergan The leveraged buyout of Allergan adds diversity to AbbVie’s portfolio. AbbVie Has a Strong Pipeline Beyond Oncology But even without cancer treatment, the AbbVie story is about more than Humira. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of AbbVie (NYSE:ABBV) are up nearly 10% since the company finalized its leveraged buyout of Allergan. The narrative surrounding the Allergan deal is that AbbVie needed to diversify its portfolio. Before you consider investing in ABBV stock, let’s check out the accuracy of that claim. |
24557.0 | 2020-05-17 00:00:00 UTC | Wall Street Week Ahead-Investors prepare for more U.S. stock swings as states reopen | ABBV | https://www.nasdaq.com/articles/wall-street-week-ahead-investors-prepare-for-more-u.s.-stock-swings-as-states-reopen-2020 | nan | nan | By April Joyner
NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
The Cboe Volatility Index .VIX, known as Wall Street's fear gauge, posted its biggest weekly gain in about two months, reflecting the S&P 500 index's .SPX 2.6% slide from its April 29 high. VIX futures have jumped as well, with investors pricing elevated risk into June contracts.
Whether recent losses in stocks resulted from profit taking after April's swift rally or were the start of a prolonged decline may become more apparent in weeks to come, investors said.
Many are watching progress of U.S. states trying to reopen their economies without fueling a resurgence in coronavirus cases. Parts of New York, Virginia and Maryland moved toward lifting lockdowns on Friday, and Connecticut and Minnesota are set to ease restrictions in the coming week.
"We don't know what the new normal will be," said Alessio de Longis, portfolio manager at Invesco. "The managing of expectations will lead to some false steps along the way."
For now, a pile-up of worrying domestic and international news prompted investors to pull back on equities after the S&P 500 in April notched its best monthly gain in decades.
U.S. President Donald Trump has ratcheted up rhetoric on China, floating the possibility of cutting ties with the world's second-largest economy. The White House on Friday moved to block shipments of semiconductors to Huawei Technologies Co Ltd [HWT.UL] from global chipmakers, which could put pressure on a global economy already suffering its deepest contraction in decades.
Hopes for a speedy return to normal took another hit when California's state university system canceled classes for the fall semester because of the coronavirus and Los Angeles County said its stay-at-home order was likely to be extended by three months.
"What we're seeing now is the wash of realism coming over the market," said Shannon Saccocia, chief investment officer at Boston Private.
The VIX on Monday touched its lowest level since late February before reversing course as expectations for market volatility grew later in the week.
Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group.
The curve has fluctuated in shape over the past week. On Tuesday, front-month VIX futures VXc1 traded at higher prices than futures expiring in subsequent months, reflecting heightened concern over near-term conditions. While that is no longer the case for now, VIX futures are broadly pricing in higher volatility than they were a week ago.
Several investors are positioning for further turbulence by shunning value sectors such as energy and financials in favor of technology and healthcare, two areas that have held up relatively well during recent market turmoil.
Andrew Graham, managing partner at Jackson Square Capital in San Francisco, has focused on stocks he believes can maintain high dividend yields, especially within the pharmaceutical industry. His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N.
Investors will also watch the U.S. Treasury Department's first auction for its 20-year bond on Wednesday. Treasury plans to borrow a record amount of nearly $3 trillion this quarter.
Some investors said they were likely to keep equities at a slight underweight in their portfolios given the likelihood of further declines.
Dave Lafferty, chief market strategist at Natixis Investment Managers, believes the recent stock rally did not factor in the likelihood of businesses operating below their usual capacity even if states reopened their economies.
"Yes, there's going to be a strong growth rate from the bottom, but the place we're getting back to is going to be subpar for a while," Lafferty said. "Are stocks priced for subpar growth? I think they aren't."
(Reporting by April Joyner; Editing by Ira Iosebashvili and Cynthia Osterman and David Gregorio)
((April.Joyner@thomsonreuters.com; +1 646 223 7480; Reuters Messaging: april.joyner.thomsonreuters.com@reuters.net; Twitter: @aprjoy))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. Hopes for a speedy return to normal took another hit when California's state university system canceled classes for the fall semester because of the coronavirus and Los Angeles County said its stay-at-home order was likely to be extended by three months. Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. On Tuesday, front-month VIX futures VXc1 traded at higher prices than futures expiring in subsequent months, reflecting heightened concern over near-term conditions. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. By April Joyner NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. By April Joyner NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Many are watching progress of U.S. states trying to reopen their economies without fueling a resurgence in coronavirus cases. |
24558.0 | 2020-05-15 00:00:00 UTC | Wall St Week Ahead-Investors prepare for more U.S. stock swings as states reopen | ABBV | https://www.nasdaq.com/articles/wall-st-week-ahead-investors-prepare-for-more-u.s.-stock-swings-as-states-reopen-2020-05-0 | nan | nan | By April Joyner
NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
The Cboe Volatility Index .VIX, known as Wall Street's fear gauge, posted its biggest weekly gain in about two months, reflecting the S&P 500 index's .SPX 2.6% slide from its April 29 high. VIX futures have jumped as well, with investors pricing elevated risk into June contracts.
Whether recent losses in stocks resulted from profit taking after April's swift rally or were the start of a prolonged decline may become more apparent in weeks to come, investors said.
Many are watching progress of U.S. states trying to reopen their economies without fueling a resurgence in coronavirus cases. Parts of New York, Virginia and Maryland moved toward lifting lockdowns on Friday, and Connecticut and Minnesota are set to ease restrictions in the coming week.
"We don't know what the new normal will be," said Alessio de Longis, portfolio manager at Invesco. "The managing of expectations will lead to some false steps along the way."
For now, a pile-up of worrying domestic and international news prompted investors to pull back on equities after the S&P 500 in April notched its best monthly gain in decades.
U.S. President Donald Trump has ratcheted up rhetoric on China, floating the possibility of cutting ties with the world's second-largest economy. The White House on Friday moved to block shipments of semiconductors to Huawei Technologies Co Ltd [HWT.UL] from global chipmakers, which could put pressure on a global economy already suffering its deepest contraction in decades.
Hopes for a speedy return to normal took another hit when California's state university system canceled classes for the fall semester because of the coronavirus and Los Angeles County said its stay-at-home order was likely to be extended by three months.
"What we're seeing now is the wash of realism coming over the market," said Shannon Saccocia, chief investment officer at Boston Private.
The VIX on Monday touched its lowest level since late February before reversing course as expectations for market volatility grew later in the week.
Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group.
The curve has fluctuated in shape over the past week. On Tuesday, front-month VIX futures VXc1 traded at higher prices than futures expiring in subsequent months, reflecting heightened concern over near-term conditions. While that is no longer the case for now, VIX futures are broadly pricing in higher volatility than they were a week ago.
Several investors are positioning for further turbulence by shunning value sectors such as energy and financials in favor of technology and healthcare, two areas that have held up relatively well during recent market turmoil.
Andrew Graham, managing partner at Jackson Square Capital in San Francisco, has focused on stocks he believes can maintain high dividend yields, especially within the pharmaceutical industry. His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N.
Investors will also watch the U.S. Treasury Department's first auction for its 20-year bond on Wednesday. Treasury plans to borrow a record amount of nearly $3 trillion this quarter.
Some investors said they were likely to keep equities at a slight underweight in their portfolios given the likelihood of further declines.
Dave Lafferty, chief market strategist at Natixis Investment Managers, believes the recent stock rally did not factor in the likelihood of businesses operating below their usual capacity even if states reopened their economies.
"Yes, there's going to be a strong growth rate from the bottom, but the place we're getting back to is going to be subpar for a while," Lafferty said. "Are stocks priced for subpar growth? I think they aren't."
(Reporting by April Joyner; Editing by Ira Iosebashvili and Cynthia Osterman and David Gregorio)
((April.Joyner@thomsonreuters.com; +1 646 223 7480; Reuters Messaging: april.joyner.thomsonreuters.com@reuters.net; Twitter: @aprjoy))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. Hopes for a speedy return to normal took another hit when California's state university system canceled classes for the fall semester because of the coronavirus and Los Angeles County said its stay-at-home order was likely to be extended by three months. Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. On Tuesday, front-month VIX futures VXc1 traded at higher prices than futures expiring in subsequent months, reflecting heightened concern over near-term conditions. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. By April Joyner NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Concerns over economic reopening are reflected in the VIX futures curve, which shows investors betting volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. By April Joyner NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Many are watching progress of U.S. states trying to reopen their economies without fueling a resurgence in coronavirus cases. |
24559.0 | 2020-05-15 00:00:00 UTC | Wall St Week Ahead-Investors prepare for more U.S. stock swings as states reopen | ABBV | https://www.nasdaq.com/articles/wall-st-week-ahead-investors-prepare-for-more-u.s.-stock-swings-as-states-reopen-2020-05 | nan | nan | By April Joyner
NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
The Cboe Volatility Index .VIX, known as Wall Street's fear gauge, is set for its biggest weekly gain in about two months, reflecting a sell-off that has taken the S&P 500 index down nearly 4% from its April 29 high. VIX futures have jumped as well, with investors now pricing elevated risk into June contracts.
Whether the recent losses in stocks are a bout of profit-taking after April's swift rally or the start of a prolonged decline may become more apparent in the weeks to come, investors said.
Many are keeping a close eye on the progress of U.S. states seeking to reopen their economies without fueling a fresh rise in coronavirus cases. Parts of New York, Virginia and Maryland moved toward lifting lockdowns on Friday, and Connecticut and Minnesota are set to ease restrictions in the coming week.
"We don't know what the new normal will be," said Alessio de Longis, portfolio manager at Invesco. "The managing of expectations will lead to some false steps along the way."
For now, a pile-up of worrying domestic and international news appears to have given investors a reason to pull back on equities after the S&P 500 notched its best monthly gain in decades in April.
U.S. President Donald Trump has ratcheted up rhetoric on China, floating the possibility of cutting ties with the world's second-largest economy. The White House on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, which could put pressure on a global economy already suffering its deepest contraction in decades.
Hopes for a speedy return to normal took another hit when California's state university system canceled classes for the fall semester because of the coronavirus and Los Angeles County said its stay-at-home order was likely to be extended by three months.
"What we're seeing now is the wash of realism coming over the market," said Shannon Saccocia, chief investment officer at Boston Private.
The VIX on Monday touched its lowest level since late February before reversing course as expectations for market volatility grew later in the week.
Concerns over economic reopening are also being reflected in the VIX futures curve, which now shows investors betting that volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group.
Prior to that, the curve had briefly returned to a more historically common pattern, with front-month VIX futures VXc1 trading lower than second- VXc2 and third-month VXc3 futures - a sign that investors were betting on calmer near-term conditions.
Several investors are now positioning for further turbulence by shunning value sectors such as energy and financials in favor of technology and healthcare, two areas that have held up relatively well during the recent market turmoil.
Andrew Graham, managing partner at Jackson Square Capital in San Francisco, has focused on stocks he believes can maintain high dividend yields, especially within the pharmaceutical industry. His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N.
Investors will also be watching the Treasury Department's first auction for its 20-year bond on Wednesday. The department plans to borrow a record amount of nearly $3 trillion this quarter.
Some investors said they are likely to keep equities at a slight underweight in their portfolios given the likelihood of further market declines.
Dave Lafferty, chief market strategist at Natixis Investment Managers, believes the recent stock rally did not factor in the likelihood of businesses operating below their usual capacity even if states reopened their economies.
"Yes, there's going to be a strong growth rate from the bottom, but the place we're getting back to is going to be subpar for a while," Lafferty said. "Are stocks priced for subpar growth? I think they aren't."
(Reporting by April Joyner; Editing by Ira Iosebashvili and Cynthia Osterman)
((April.Joyner@thomsonreuters.com; +1 646 223 7480; Reuters Messaging: april.joyner.thomsonreuters.com@reuters.net; Twitter: @aprjoy))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. Hopes for a speedy return to normal took another hit when California's state university system canceled classes for the fall semester because of the coronavirus and Los Angeles County said its stay-at-home order was likely to be extended by three months. Concerns over economic reopening are also being reflected in the VIX futures curve, which now shows investors betting that volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. By April Joyner NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Concerns over economic reopening are also being reflected in the VIX futures curve, which now shows investors betting that volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. By April Joyner NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Concerns over economic reopening are also being reflected in the VIX futures curve, which now shows investors betting that volatility will be elevated in coming weeks, rather than later in the summer, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. | His firm owns shares of Bristol-Myers Squibb Co BMY.N, AbbVie Inc ABBV.N and Merck & Co Inc MRK.N. By April Joyner NEW YORK, May 15 (Reuters) - Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Some investors said they are likely to keep equities at a slight underweight in their portfolios given the likelihood of further market declines. |
24560.0 | 2020-05-14 00:00:00 UTC | S&P 500 Analyst Moves: ABBV | ABBV | https://www.nasdaq.com/articles/sp-500-analyst-moves%3A-abbv-2020-05-14 | nan | nan | The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, AbbVie is now the #114 analyst pick, moving up by 10 spots.
This rank is formed by averaging the analyst opinions for each component from each broker, and then ranking the 500 components by those average opinion values.
Looking at the stock price movement year to date, AbbVie is showing a gain of 1.1%.
VIDEO: S&P 500 Analyst Moves: ABBV
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, AbbVie is now the #114 analyst pick, moving up by 10 spots. Looking at the stock price movement year to date, AbbVie is showing a gain of 1.1%. VIDEO: S&P 500 Analyst Moves: ABBV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, AbbVie is now the #114 analyst pick, moving up by 10 spots. VIDEO: S&P 500 Analyst Moves: ABBV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Looking at the stock price movement year to date, AbbVie is showing a gain of 1.1%. | The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, AbbVie is now the #114 analyst pick, moving up by 10 spots. VIDEO: S&P 500 Analyst Moves: ABBV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Looking at the stock price movement year to date, AbbVie is showing a gain of 1.1%. | The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, AbbVie is now the #114 analyst pick, moving up by 10 spots. Looking at the stock price movement year to date, AbbVie is showing a gain of 1.1%. VIDEO: S&P 500 Analyst Moves: ABBV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
24561.0 | 2020-05-14 00:00:00 UTC | Is Now a Good Time To Buy Neurocrine Biosciences? | ABBV | https://www.nasdaq.com/articles/is-now-a-good-time-to-buy-neurocrine-biosciences-2020-05-14 | nan | nan | Neurocrine Biosciences (NASDAQ: NBIX) had a big day Tuesday, the latest in a string of good days. Since the stock bottomed out at $75.11 almost two months ago, it climbed as high as $119.65 on Tuesday, a jump of 44.5%, though it closed at $112.60. This is a run that may continue, despite any short-term coronavirus headwinds. Here's why.
The company had solid first-quarter earnings
On May 6, the San Diego-based biopharmaceutical posted its first-quarter earnings, and investors salivated at revenue of $237.1 million compared with $138.4 million in the same quarter last year. Net income hit $37.4 million, and the company's cash grew to more than $1 billion. Neurocrine also doubled its number of patients over the same quarter a year ago.
Ingrezza is funding research that should pay off
Ingrezza, the company's drug for Tardive dyskinesia (TD), brought in $231 million in revenue for 69% year-over-year growth in the first quarter. TD, characterized by involuntary jerky movements of the face and body, is a byproduct of many anti-psychotic drugs, and it affects affects 500,000 people in the U.S., according to company estimates. Ingrezza, launched in 2017, is the only daily single-dose TD drug on the market.
IMAGE SOURCE: GETTY IMAGES
It has become profitable enough to almost singlehandedly support the company's R&D efforts, but there's another drug in the pipeline, Ongentys, that should start paying off this year as well. The drug, on which Neurocrine worked with Portugese pharmaceutical company Bial, was approved by the FDA last month.
Ongentys is used as an add-on treatment to levodopa/carbidopa, a treatment for Parkinson's disease, in patients experiencing "off" episodes (when the effects of other medication wear off before a new dose can be taken). In two phase 3 trials, the drug reduced the number of off periods and added to the periods without involuntary movements (dyskinesia) compared to placebos.
The company is also profiting nicely on royalty payments from Orilissa, which Neurocrine partnered with AbbVie (NYSE: ABBV) to produce. It is designed to help women with the pain of endometriosis, a condition in which the lining of the uterus grows outside the uterus that affects 200 million women worldwide. Neurocrine received $14.3 million last year from AbbVie in royalty payments related to Orilissa
The company is expanding its pipeline and profits by partnering successfully with other companies, including gene therapy provider Voyager Therapeutics (NASDAQ: VYGR), biopharma Xenon Pharmaceuticals (NASDAQ: XENE), and Swiss pharma Idorsia Ltd.
On Tuesday, the FDA accepted the Investigational New Drug (IND) application for ACT-709478, a channel blocker for the treatment of a rare form of pediatric epilepsy, on which Neurocrine had worked in partnership with Idorsia. Also on Tuesday, Neurocrine announced an agreement with Idorsia for $45 million up front, plus milestone and tiered royalty payments, to develop and sell ACT-709478.
"This collaboration demonstrates Neurocrine Biosciences' growing commitment in epilepsy and enhances our capabilities in precision medicine by targeting the underlying mechanism of disorders," said CEO Kevin Gorman in a press release.
Headed in the right direction
The company has had eight consecutive quarters of positive non-GAAP net income. It's not afraid to work with others to expand its pipeline and has been aggressive in research and development. Given its price-to-earnings ratio of 61, all the company's positives may already be priced in, but if the price slips, healthcare investors should consider it a good long-term buy.
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Jim Halley owns shares of AbbVie. The Motley Fool recommends Neurocrine Biosciences. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Neurocrine received $14.3 million last year from AbbVie in royalty payments related to Orilissa The company is expanding its pipeline and profits by partnering successfully with other companies, including gene therapy provider Voyager Therapeutics (NASDAQ: VYGR), biopharma Xenon Pharmaceuticals (NASDAQ: XENE), and Swiss pharma Idorsia Ltd. On Tuesday, the FDA accepted the Investigational New Drug (IND) application for ACT-709478, a channel blocker for the treatment of a rare form of pediatric epilepsy, on which Neurocrine had worked in partnership with Idorsia. The company is also profiting nicely on royalty payments from Orilissa, which Neurocrine partnered with AbbVie (NYSE: ABBV) to produce. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Halley owns shares of AbbVie. | Neurocrine received $14.3 million last year from AbbVie in royalty payments related to Orilissa The company is expanding its pipeline and profits by partnering successfully with other companies, including gene therapy provider Voyager Therapeutics (NASDAQ: VYGR), biopharma Xenon Pharmaceuticals (NASDAQ: XENE), and Swiss pharma Idorsia Ltd. On Tuesday, the FDA accepted the Investigational New Drug (IND) application for ACT-709478, a channel blocker for the treatment of a rare form of pediatric epilepsy, on which Neurocrine had worked in partnership with Idorsia. The company is also profiting nicely on royalty payments from Orilissa, which Neurocrine partnered with AbbVie (NYSE: ABBV) to produce. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Halley owns shares of AbbVie. | Neurocrine received $14.3 million last year from AbbVie in royalty payments related to Orilissa The company is expanding its pipeline and profits by partnering successfully with other companies, including gene therapy provider Voyager Therapeutics (NASDAQ: VYGR), biopharma Xenon Pharmaceuticals (NASDAQ: XENE), and Swiss pharma Idorsia Ltd. On Tuesday, the FDA accepted the Investigational New Drug (IND) application for ACT-709478, a channel blocker for the treatment of a rare form of pediatric epilepsy, on which Neurocrine had worked in partnership with Idorsia. The company is also profiting nicely on royalty payments from Orilissa, which Neurocrine partnered with AbbVie (NYSE: ABBV) to produce. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Halley owns shares of AbbVie. | Neurocrine received $14.3 million last year from AbbVie in royalty payments related to Orilissa The company is expanding its pipeline and profits by partnering successfully with other companies, including gene therapy provider Voyager Therapeutics (NASDAQ: VYGR), biopharma Xenon Pharmaceuticals (NASDAQ: XENE), and Swiss pharma Idorsia Ltd. On Tuesday, the FDA accepted the Investigational New Drug (IND) application for ACT-709478, a channel blocker for the treatment of a rare form of pediatric epilepsy, on which Neurocrine had worked in partnership with Idorsia. The company is also profiting nicely on royalty payments from Orilissa, which Neurocrine partnered with AbbVie (NYSE: ABBV) to produce. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Halley owns shares of AbbVie. |
24562.0 | 2020-05-13 00:00:00 UTC | It’s Time to Buy AbbVie Stock Now After Its Allergan Purchase | ABBV | https://www.nasdaq.com/articles/its-time-to-buy-abbvie-stock-now-after-its-allergan-purchase-2020-05-13 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
On Friday, Allergan shares ceased trading as the company’s merger with AbbVie (NYSE:ABBV) finally went through. The deal removes AGN stock from the exchanges, and those who were long are now long AbbVie (and the combined company).
Source: Piotr Swat / Shutterstock.com
Specifically, those investors received $120.30 per share in cash, along with 0.866 shares of AbbVie stock for each share of AGN stock they owned.
The AGN Stock Deal Is Done
The $63 billion tie-up was agreed upon on June 25, 2019. From announcement to merger, the agreement took less than a year to complete. That’s actually pretty impressive, and investors in AGN stock are likely pleased.
Not only were they taken out at a superior pre-merger price, but now they have a stake in AbbVie. ABBV stock was already a quality holding with a high dividend payout. After combining the two entities though, this is a powerful name with strong cash flow. It’s not unlike what we saw from Bristol-Myers Squibb (NYSE:BMY) when it acquired Celgene.
7 Dividend Stocks That May Be in Danger
These healthcare businesses end up falling out of favor at some point, slipping into multi-year funks. That’s despite an excellent portfolio of products and treatments. When that happens it creates value, and even though it requires a tremendous buyout offer, that’s what we’re seeing lately.
AbbVie Is Now Diversified
Now that AGN stock is folded into AbbVie stock, what does that leave prospective buyers looking at?
AbbVie’s blockbuster drug is Humira, where last quarter it drove 54.5% of the company’s total revenue. While it has patent protection until 2023 here in the United States, the drug lost patent protection in Europe. Imbruvica was the company’s second-largest revenue generator last quarter, at $1.23 billion or just 14.3% of total revenue.
Clearly, ABBV needed to diversify its lineup. Adding Allergan’s Botox lineup gives AbbVie its third billion-dollar product line (on a quarterly basis), while Allergan’s Vraylar brings growth. In the December quarter, the drug logged sales of $283 million, which was up 88% year-over-year.
Of course, the deal costs a pretty penny, too.
Morgan Stanley estimates that net debt will swell up to about $84 billion as a result of the tie-up. However, analysts at SVB Leerink believe the company will be able to generate free cash flow in excess of $22 billion in each of the next four years. Now combine that with management’s statement of a “growing dividend and rapid debt repayment,” and investors have a potential recipe for success.
Bottom Line on AbbVie-Allergan Merger
Click to Enlarge
Source: Chart courtesy of StockCharts.com
At the end of the day, the situation is pretty simple. AbbVie had great products, but was too dependent on one lineup in particular. With U.S. patent protection wearing off in a few years, it needed to move.
With Allergan, it gets product diversity — but it also gets plenty of debt. However, with strong free cash flow, the company remains committed to deleveraging the balance sheet and growing its dividend. Incidentally, that payout is still at an impressive 5.4%.
Considering that 10-year Treasury bond investors are fetching just 65 basis points in yield, a 5.4% dividend is pretty darn impressive. Combine that with a relatively stable business despite the novel coronavirus and ABBV stock is a long-term winner.
It’s worth pointing out that the aforementioned analysts — Morgan Stanley and SVB Leerink — both have outperform ratings on AbbVie. Their price targets stand at $95 and $122, respectively.
While $95 does not represent all that much upside, it’s still up about 8% from current levels. A glance at the chart reveals ABBV flirting with a move over the key $88 level, as well as a rotation over this month’s high. Above that level now and the 2020 high near $97 could be on the table.
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The post It’s Time to Buy AbbVie Stock Now After Its Allergan Purchase appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips On Friday, Allergan shares ceased trading as the company’s merger with AbbVie (NYSE:ABBV) finally went through. The deal removes AGN stock from the exchanges, and those who were long are now long AbbVie (and the combined company). Source: Piotr Swat / Shutterstock.com Specifically, those investors received $120.30 per share in cash, along with 0.866 shares of AbbVie stock for each share of AGN stock they owned. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips On Friday, Allergan shares ceased trading as the company’s merger with AbbVie (NYSE:ABBV) finally went through. Source: Piotr Swat / Shutterstock.com Specifically, those investors received $120.30 per share in cash, along with 0.866 shares of AbbVie stock for each share of AGN stock they owned. It’s worth pointing out that the aforementioned analysts — Morgan Stanley and SVB Leerink — both have outperform ratings on AbbVie. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips On Friday, Allergan shares ceased trading as the company’s merger with AbbVie (NYSE:ABBV) finally went through. Source: Piotr Swat / Shutterstock.com Specifically, those investors received $120.30 per share in cash, along with 0.866 shares of AbbVie stock for each share of AGN stock they owned. AbbVie Is Now Diversified Now that AGN stock is folded into AbbVie stock, what does that leave prospective buyers looking at? | InvestorPlace - Stock Market News, Stock Advice & Trading Tips On Friday, Allergan shares ceased trading as the company’s merger with AbbVie (NYSE:ABBV) finally went through. The deal removes AGN stock from the exchanges, and those who were long are now long AbbVie (and the combined company). Source: Piotr Swat / Shutterstock.com Specifically, those investors received $120.30 per share in cash, along with 0.866 shares of AbbVie stock for each share of AGN stock they owned. |
24563.0 | 2020-05-13 00:00:00 UTC | 2 Value Stocks That Will Make You Richer in May | ABBV | https://www.nasdaq.com/articles/2-value-stocks-that-will-make-you-richer-in-may-2020-05-13 | nan | nan | For investors with spare cash on hand, market sell-offs such as this one can provide plenty of opportunities. Stocks with sky-high valuations may have finally fallen to a price where it is reasonable to buy, and stocks that were cheap beforehand may have declined further into a valuation level that defies all reason.
More often than not, companies with sound business models that are finding new ways to grow their revenue will see their share prices rebound once the crisis is over. Let's examine two value stocks that can make you richer in May.
Image source: Getty Images.
A blue-chip pharmaceutical stock
AbbVie (NYSE: ABBV) is a blue-chip pharmaceutical company trading at just eight times forward earnings. Investors are arguably skeptical of the company's potential for a good reason. The company's flagship product is Humira, a drug that treats a variety of diseases, such as Crohn's disease, rheumatoid arthritis, and ulcerative colitis. Last year, sales of the drug amounted to $19.17 billion, or 58% of AbbVie's total revenue.
Unfortunately, Humira's patents are expiring and the company has three years before biosimilars enter the market. When biologics lose their patent protection, their sales usually decline by 95% or more if there are more than six competitors on the market. Having the risk of nearly $19 billion wiped out after 2023 is surely something no shareholder will ever wish to see.
However, the company is making efforts to diversify away from its dependence on Humira. Last year, the company launched two new drugs in its immunology portfolio: Skyrizi for the treatment of psoriasis and Rinvoq for rheumatoid arthritis. The two drugs have already generated combined revenue of $402 million by January. Furthermore, AbbVie is expecting $1.7 billion in revenue this year for Skyrizi and Rinvoq. That's almost 322% growth year over year.
Additionally, AbbVie recently closed its acquisition of Allergan, the famous maker of Botox, for $62 billion. Despite having no patent protection, Botox still generates up to $800 million in sales per quarter.
Overall, pharmaceutical investors would be getting shares of AbbVie at a bargain with its current valuation of 1.5 times price-to-sales. The stock also posts a 5.4% dividend yield to reward those in it for the long term.
An innovative opioid manufacturer
Among opioid manufacturers, Collegium Pharmaceutical (NASDAQ: COLL) represents a true anomaly.
First of all, out of more than 2,600 lawsuits nationwide against opioid suppliers, distributors, and manufacturers for their role in the ongoing opioid crisis, Collegium is named in less than 1% of these cases. The company wasn't marketing opioids between 2006 and 2012 when the vast majority of accusations against drugmakers for false and misleading marketing practices arose.
Second, it's striking how little debt the company has compared to its peers. Combined, its long-term debt and convertibles amount to $286.95 million. Meanwhile, the company has $116.18 million of cash on hand and is guiding for adjusted earnings of more than $125 million.
Finally, Collegium grew revenue of its abuse-deterrent opioid Xtampza by 30% this quarter compared to last year, despite disruptions caused by the COVID-19 pandemic and the fact that its entire staff is now working from home.
Speaking of Xtampza, the drug is rapidly gaining traction in replacing traditional oxycodone since its launch in 2016. Over 40% of Americans with Medicare or health insurance will be prescribed Xtampza if they are in need of immediate-release oxycodone tablets for pain relief.
Collegium is trading for merely six times its price-to-earnings guidance this year, and less than three times its price-to-sales guidance. In my opinion, the stock has ample potential to appreciate once market participants realize the company is a diamond in the rough in the opioid space.
10 stocks we like better than AbbVie
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Zhiyuan Sun has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A blue-chip pharmaceutical stock AbbVie (NYSE: ABBV) is a blue-chip pharmaceutical company trading at just eight times forward earnings. Last year, sales of the drug amounted to $19.17 billion, or 58% of AbbVie's total revenue. Furthermore, AbbVie is expecting $1.7 billion in revenue this year for Skyrizi and Rinvoq. | A blue-chip pharmaceutical stock AbbVie (NYSE: ABBV) is a blue-chip pharmaceutical company trading at just eight times forward earnings. Last year, sales of the drug amounted to $19.17 billion, or 58% of AbbVie's total revenue. Furthermore, AbbVie is expecting $1.7 billion in revenue this year for Skyrizi and Rinvoq. | A blue-chip pharmaceutical stock AbbVie (NYSE: ABBV) is a blue-chip pharmaceutical company trading at just eight times forward earnings. Last year, sales of the drug amounted to $19.17 billion, or 58% of AbbVie's total revenue. Furthermore, AbbVie is expecting $1.7 billion in revenue this year for Skyrizi and Rinvoq. | Last year, sales of the drug amounted to $19.17 billion, or 58% of AbbVie's total revenue. A blue-chip pharmaceutical stock AbbVie (NYSE: ABBV) is a blue-chip pharmaceutical company trading at just eight times forward earnings. Furthermore, AbbVie is expecting $1.7 billion in revenue this year for Skyrizi and Rinvoq. |
24564.0 | 2020-05-13 00:00:00 UTC | With Castro-era biotech, Cuba seeks to compete in coronavirus treatment race | ABBV | https://www.nasdaq.com/articles/with-castro-era-biotech-cuba-seeks-to-compete-in-coronavirus-treatment-race-2020-05-13 | nan | nan | By Sarah Marsh
HAVANA, May 13 (Reuters) - Communist-run Cuba, laboring under a six-decade U.S. embargo, is betting a biotech sector begun by late revolutionary leader Fidel Castro can give the Caribbean island an edge in a global race to find effective treatments for the new coronavirus.
Cuba is especially touting an interferon it produces, a decades old antiviral agent that boosts immune system.
The island nation says it has been successful in treating the novel coronavirus at home and in China, and that 80 countries have already expressed an interest in buying its interferon alpha 2b.
The government is hoping that its interferon and other treatments it is developing will provide a lift to its struggling economy.
"We have good products like interferon alpha 2b that we are exporting and that open possibilities," Trade Minister Rodrigo Malmierca said during a recent televised roundtable.
Interferons have long been used internationally to treat dengue fever, cancer and hepatitis B and C. Studies during the SARS epidemic in 2003 suggested interferons might also be useful against coronaviruses.
Havana has promoted that China, where the pandemic emerged last year, included interferon in its treatment guidelines for COVID-19, the disease caused by the virus. One of the interferons it used is produced by a joint Cuban-Chinese venture Changheber, Cuban authorities said.
Critics have accused Cuba of advocating a treatment that is unproven for COVID-19, as well as originally obscuring the fact other countries also produce interferon alpha 2b.
Interferons can cause serious side effects when administered in their usual forms – injections or infusions - some of which may mirror COVID-19 symptoms, such as fever and breathing difficulty.
Cuba, however, says it has treated nearly all of its patients with interferon injections and credits the medicine for helping it achieve a lower mortality rate among its 1,804 confirmed COVID-19 cases - 4.1% versus an average of 5.9% for the rest of the Americas.
It has also flagged a trial at Taihe hospital in China's Hubei province at the height of its outbreak that suggests newer ways of administering interferon may help contain the virus and even prevent contagion with fewer side effects.
None of the nearly 3,000 healthcare workers who used interferon nose drops became infected with the novel coronavirus, according to an informal study report reviewed by Reuters. They included more than 500 with high exposure to infected patients, the Chinese researchers said.
The trial used interferon alpha, albeit not specifically the Cuban version, and the results have not been formally peer-reviewed or published in reliable medical journals.
In a separate trial at Union hospital in Wuhan, China, COVID-19 patients who inhaled interferon in an aerosol formulation had faster improvement in respiratory symptoms and clearance of the virus from their blood than patients who did not receive interferon, according to another informal report by Chinese, Australian and Canadian researchers.
Randomized controlled trials are needed to corroborate these early findings and dozens of studies involving interferon are underway worldwide.
Cuba is not waiting for those results. It is already starting to use interferon nose drops for infection prevention in medical workers.
FIDEL'S BIOTECH INDUSTRY
Interferon, considered a potential miracle drug in the 1970s and 1980s, has a special place in Cuba.
Castro, whose 1959 revolution prioritized health and education and who often took a keen interest in scientific developments, sent Cuban scientists abroad to study its production.
They swiftly figured out how to manufacture it at home and the drug was used successfully during a 1981 outbreak of hemorrhagic dengue fever. That was when Cuba's biopharmaceutical sector started to grow in earnest despite obstacles posed by the U.S. trade embargo.
It now produces most of the drugs used in Cuba as well as more than 300 products for export to more than 50 countries, including a therapeutic vaccine for lung cancer called CIMAvax.
There are now 21 research centers and 32 companies employing some 20,000 people under the umbrella of the state-run BioCubaFarma.
Medicine exports brought in $442 million in 2016, according to the latest available official data, surpassing export revenue from sugar, rum or tobacco.
Supporters of Cuba's success say it disproves the idea that free market competition is needed for pharmaceutical and biotech innovation. Skeptics question whether the mostly state-financed industry is in fact profitable, and whether it can flourish given Cuba's cash woes.
Cuba has not been able to produce enough medicines to fully meet domestic demand in recent years under strict austerity measures.
But the pandemic may present a unique opportunity for the sector to burnish its reputation and generate hard currency.
BioCubaFarma President Eduardo Martínez gave a presentation last week on a raft of drugs Cuba is testing and developing to strengthen the immune system against COVID-19, prevent a worsening of symptoms and help patients recover.
It is developing its own version of AbbVie's ABBV.N Kaletra, an HIV therapy being tested in combination with other drugs, including interferon, against COVID-19.
Martinez said Cuba's efforts were garnering interest abroad, and he anticipates high demand.
"We are creating the conditions to introduce (these drugs) at an industrial level and to crank up their production," he said.
(Reporting by Sarah Marsh in Havana Additional Reporting by Nancy Lapid in New York and Roxanne Liu in Bejiing; Editing by Daniel Flynn and Bill Berkrot)
((sarah.marsh@thomsonreuters.com; +53 5217 0928; Reuters Messaging: sarah.marsh.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It is developing its own version of AbbVie's ABBV.N Kaletra, an HIV therapy being tested in combination with other drugs, including interferon, against COVID-19. By Sarah Marsh HAVANA, May 13 (Reuters) - Communist-run Cuba, laboring under a six-decade U.S. embargo, is betting a biotech sector begun by late revolutionary leader Fidel Castro can give the Caribbean island an edge in a global race to find effective treatments for the new coronavirus. It has also flagged a trial at Taihe hospital in China's Hubei province at the height of its outbreak that suggests newer ways of administering interferon may help contain the virus and even prevent contagion with fewer side effects. | It is developing its own version of AbbVie's ABBV.N Kaletra, an HIV therapy being tested in combination with other drugs, including interferon, against COVID-19. The island nation says it has been successful in treating the novel coronavirus at home and in China, and that 80 countries have already expressed an interest in buying its interferon alpha 2b. None of the nearly 3,000 healthcare workers who used interferon nose drops became infected with the novel coronavirus, according to an informal study report reviewed by Reuters. | It is developing its own version of AbbVie's ABBV.N Kaletra, an HIV therapy being tested in combination with other drugs, including interferon, against COVID-19. Interferons have long been used internationally to treat dengue fever, cancer and hepatitis B and C. Studies during the SARS epidemic in 2003 suggested interferons might also be useful against coronaviruses. Critics have accused Cuba of advocating a treatment that is unproven for COVID-19, as well as originally obscuring the fact other countries also produce interferon alpha 2b. | It is developing its own version of AbbVie's ABBV.N Kaletra, an HIV therapy being tested in combination with other drugs, including interferon, against COVID-19. It now produces most of the drugs used in Cuba as well as more than 300 products for export to more than 50 countries, including a therapeutic vaccine for lung cancer called CIMAvax. BioCubaFarma President Eduardo Martínez gave a presentation last week on a raft of drugs Cuba is testing and developing to strengthen the immune system against COVID-19, prevent a worsening of symptoms and help patients recover. |
24565.0 | 2020-05-13 00:00:00 UTC | Is AbbVie a Buy Now That the Allergan Deal Is Done? | ABBV | https://www.nasdaq.com/articles/is-abbvie-a-buy-now-that-the-allergan-deal-is-done-2020-05-13 | nan | nan | The wait is over. AbbVie's (NYSE: ABBV) acquisition of Allergan closed on May 8, nearly one year after the big drugmaker first announced its planned buyout in June 2019. There were a few bumps along the way, though.
Some criticized AbbVie's decision to purchase Allergan for $63 billion from the beginning. A coalition of consumer groups and trade unions representing over 10 million members opposed the deal because it thought it would be anti-competitive. Allergan had to sell a couple of products to satisfy regulators. But the two companies ultimately jumped all of the hurdles in their path.
No questions remain about if AbbVie's acquisition of Allergan will be finalized. But there's another big question for investors: Is AbbVie a buy now that the Allergan deal is done?
Image source: Getty Images.
What Allergan brings to the table
Thanks to its acquisition of Allergan, AbbVie now has more than 120 additional products in its lineup that combined generated more than $16 billion in sales last year. One product especially stands out: Botox. The drug made $991 million in 2019 as a cosmetic and more than $1.7 billion in treating various therapeutic conditions including chronic migraine and overactive bladder. And Botox's sales continue to grow on both fronts.
While Botox is the 800-pound gorilla that Allergan brought to the table, there are several other drugs that AbbVie now owns with strong sales growth. Antipsychotic drug Vraylar will soon become a blockbuster, with sales soaring 76% year over year in 2019. Antidepressant Viibryd, birth control pill Lo Loestrin, Liletta intrauterine device, and Allergan's anti-infective drugs are all delivered double-digit percentage sales growth.
The Allergan transaction also adds more than 60 programs to AbbVie's pipeline. Promising late-stage candidates include eye-disease drug abicipar and migraine prevention drug atogepant.
However, AbbVie also gets some baggage with its buyout of Allergan. The big drugmaker assumed Allergan's long-term debt of close to $17.6 billion. It also inherits several products for which sales are declining, notably including eye-disease drugs Restasis, Alphagan, and Lumigan plus Allergan's Coolsculpting franchise.
AbbVie's headwinds and tailwinds
On an overall basis, though, the Allergan acquisition should help AbbVie with its most significant challenge -- the impending loss of U.S. patent exclusivity for Humira in 2023. Humira generated nearly 55% of AbbVie's total revenue in the first quarter of 2020. With Allergan's products adding more revenue, Humira should contribute less than 40% of total revenue.
Another major headwind for AbbVie is its hepatitis C virus (HCV) franchise. The company's HCV sales continue to fall in the face of stiff competition from Gilead Sciences and fewer patient starts.
But AbbVie has plenty of tailwinds as well. The company's successors to Humira, Skyrizi and Rinvoq, gained momentum in the first quarter. Skyrizi appears to be well on its way to becoming another immunology blockbuster for AbbVie.
The company's blood cancer franchise also continues to deliver impressive growth. Sales for Imbruvica jumped nearly 21% year over year in Q1, while sales for Venclexta more than doubled from the prior-year period.
AbbVie hopes to add new approved indications for Rinvoq, Skyrizi, Imbruvica, and Venclexta with late-stage clinical studies under way for all of these drugs. It also could gain approval for Empliciti as a first-line treatment for multiple myeloma.
Yea or nay?
So is AbbVie a smart pick now that its acquisition of Allergan has been finalized? Yea and nay.
If you're looking for impressive sales growth, AbbVie probably won't be your cup of tea. Wall Street analysts expect the big pharmaceutical company will grow earnings by around 5% annually over the next five years. And that's with more than two years of continued sales growth for Humira in the U.S.
On the other hand, AbbVie looks like a pretty good choice if you're a retiree or simply an investor looking for solid income along with moderate growth. It's one of the most attractive dividend stocks in the healthcare sector with a dividend yield of nearly 5.4%. With Botox, Vraylar, and other Allergan products joining Imbruvica and AbbVie's newer drugs, the stock appears poised to be a winner for more conservative long-term investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With Botox, Vraylar, and other Allergan products joining Imbruvica and AbbVie's newer drugs, the stock appears poised to be a winner for more conservative long-term investors. AbbVie's (NYSE: ABBV) acquisition of Allergan closed on May 8, nearly one year after the big drugmaker first announced its planned buyout in June 2019. Some criticized AbbVie's decision to purchase Allergan for $63 billion from the beginning. | AbbVie hopes to add new approved indications for Rinvoq, Skyrizi, Imbruvica, and Venclexta with late-stage clinical studies under way for all of these drugs. With Botox, Vraylar, and other Allergan products joining Imbruvica and AbbVie's newer drugs, the stock appears poised to be a winner for more conservative long-term investors. AbbVie's (NYSE: ABBV) acquisition of Allergan closed on May 8, nearly one year after the big drugmaker first announced its planned buyout in June 2019. | What Allergan brings to the table Thanks to its acquisition of Allergan, AbbVie now has more than 120 additional products in its lineup that combined generated more than $16 billion in sales last year. While Botox is the 800-pound gorilla that Allergan brought to the table, there are several other drugs that AbbVie now owns with strong sales growth. With Botox, Vraylar, and other Allergan products joining Imbruvica and AbbVie's newer drugs, the stock appears poised to be a winner for more conservative long-term investors. | AbbVie's (NYSE: ABBV) acquisition of Allergan closed on May 8, nearly one year after the big drugmaker first announced its planned buyout in June 2019. What Allergan brings to the table Thanks to its acquisition of Allergan, AbbVie now has more than 120 additional products in its lineup that combined generated more than $16 billion in sales last year. Some criticized AbbVie's decision to purchase Allergan for $63 billion from the beginning. |
24566.0 | 2020-05-12 00:00:00 UTC | The Dow Can't Hang On --- and REITs Are Getting Crushed | ABBV | https://www.nasdaq.com/articles/the-dow-cant-hang-on-and-reits-are-getting-crushed-2020-05-12 | nan | nan | Invulnerable ? For six days now, the Nasdaq Composite has closed higher on the day. That streak looks to be at risk, with the Nasdaq fluctuating between positive and negative territory. But nothing has been able to keep the tech-heavy index down for long. That’s thanks to Apple (AAPL) and other tech stocks and some hot health-care shares, too.
Those are the same stocks that have been doing the heavy lifting for the stock market, generally, and the Nasdaq, specifically. The Technology Select Sector SPDR ETF (XLK) has gain 4.7% so far in May, while the Health Care Select Sector SPDR ETF (XLV) has risen 1.7%. The S & P 500 has risen just 0.5%
That has its good and its bad, however, according to Instinet’s Frank Cappelleri. “Seeing the most innovative companies lead the market higher isn’t exactly a bad thing, not at all,” he writes. “Seeing one or two sectors move in one direction while the others veer off course could be troublesome.”
A day like today, with the Nasdaq little changed, the S & P 500 off 0.4%, and the Dow Jones Industrial Average off 115.26 points, or 0.5%, don’t help clear up matters much.
Real-estate investment trusts are getting wrecked today. The S & P 500 Real Estate Sector is down 4%, four times the next-worst sector, Financials, weighed down by concerns that tenants aren’t paying their rent. Extra Space Storage (EXR) has dropped 7.2% and Welltower (WELL) has fallen 6.6%.
ONEOK (OKE) has climbed 7.7% and Marathon Oil (MRO) has gained 7.3% as oil prices rose 6.9% to $25.81.
AbbVie (ABBV) has risen 4% after JPMorgan raised its rating on the stock to Overweight from Neutral.
T. Rowe Price Group (TROW) has advanced 4.4% after reporting $1.1 trillion of assets under management.
Write to Ben Levisohn at Ben.Levisohn@barrons.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) has risen 4% after JPMorgan raised its rating on the stock to Overweight from Neutral. “Seeing the most innovative companies lead the market higher isn’t exactly a bad thing, not at all,” he writes. “Seeing one or two sectors move in one direction while the others veer off course could be troublesome.” A day like today, with the Nasdaq little changed, the S & P 500 off 0.4%, and the Dow Jones Industrial Average off 115.26 points, or 0.5%, don’t help clear up matters much. | AbbVie (ABBV) has risen 4% after JPMorgan raised its rating on the stock to Overweight from Neutral. The Technology Select Sector SPDR ETF (XLK) has gain 4.7% so far in May, while the Health Care Select Sector SPDR ETF (XLV) has risen 1.7%. “Seeing the most innovative companies lead the market higher isn’t exactly a bad thing, not at all,” he writes. | AbbVie (ABBV) has risen 4% after JPMorgan raised its rating on the stock to Overweight from Neutral. Those are the same stocks that have been doing the heavy lifting for the stock market, generally, and the Nasdaq, specifically. The Technology Select Sector SPDR ETF (XLK) has gain 4.7% so far in May, while the Health Care Select Sector SPDR ETF (XLV) has risen 1.7%. | AbbVie (ABBV) has risen 4% after JPMorgan raised its rating on the stock to Overweight from Neutral. For six days now, the Nasdaq Composite has closed higher on the day. Those are the same stocks that have been doing the heavy lifting for the stock market, generally, and the Nasdaq, specifically. |
24567.0 | 2020-05-12 00:00:00 UTC | AbbVie Stock Has 15% Upside, J.P. Morgan Analyst Says | ABBV | https://www.nasdaq.com/articles/abbvie-stock-has-15-upside-j.p.-morgan-analyst-says-2020-05-12 | nan | nan | AbbVie closed its acquisition of Allergan on Friday, and J.P. Morgan, which had advised Allergan on the deal, is now free of the restrictions that had kept it from showing its love for AbbVie’s stock.
J.P. Morgan analyst Chris Schott on Tuesday raised his rating on AbbVie shares (ticker: ABBV) to Overweight from Neutral and named the drugmaker one of J.P. Morgan’s top ideas.
AbbVie’s “valuation remains at steep discount vs. Major Pharma peers and we see significant upside for shares from here,” Schott said in his note. He believes that the stock can rise to $105 by the end of the year.
In early Tuesday trading, AbbVie shares were up 3%, to $90.80. So far this year, AbbVie is up about 3%, compared with a decline of 9% in the S&P 500.
The market values AbbVie stock at only 8.5-times this year’s earnings forecast. That is barely half the 16-times multiple enjoyed by most big drug stocks, Schott says. That discount is driven by the looming arrival of competition in 2023 for the company’s enormous-selling treatment for autoimmune disorders, Humira.
With Allergan products like Botox, AbbVie will reduce its dependence on Humira from some 60% of revenue in 2019 to about 30% in 2022, the analyst says. Even if biosimilar competition takes half of Humira sales in the first 18 months after AbbVie loses U.S. market exclusivity, Schott sees the company’s earnings bottoming at $11 a share (compared with about $10 this year). The stock currently trades for a little over 8-times that trough earnings number.
J.P. Morgan expects healthy growth from other products like the newer autoimmune treatments Skyrizi and Rinvoq, as well as Allergan’s aesthetic products. The company plans to use its strong cash flow to pay down debt and acquire other products for its pipeline.
And AbbVie’s better than 5% dividend yield is the highest in its business.
Write to Bill Alpert at william.alpert@barrons.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie’s “valuation remains at steep discount vs. Major Pharma peers and we see significant upside for shares from here,” Schott said in his note. Even if biosimilar competition takes half of Humira sales in the first 18 months after AbbVie loses U.S. market exclusivity, Schott sees the company’s earnings bottoming at $11 a share (compared with about $10 this year). AbbVie closed its acquisition of Allergan on Friday, and J.P. Morgan, which had advised Allergan on the deal, is now free of the restrictions that had kept it from showing its love for AbbVie’s stock. | J.P. Morgan analyst Chris Schott on Tuesday raised his rating on AbbVie shares (ticker: ABBV) to Overweight from Neutral and named the drugmaker one of J.P. Morgan’s top ideas. In early Tuesday trading, AbbVie shares were up 3%, to $90.80. Even if biosimilar competition takes half of Humira sales in the first 18 months after AbbVie loses U.S. market exclusivity, Schott sees the company’s earnings bottoming at $11 a share (compared with about $10 this year). | AbbVie closed its acquisition of Allergan on Friday, and J.P. Morgan, which had advised Allergan on the deal, is now free of the restrictions that had kept it from showing its love for AbbVie’s stock. J.P. Morgan analyst Chris Schott on Tuesday raised his rating on AbbVie shares (ticker: ABBV) to Overweight from Neutral and named the drugmaker one of J.P. Morgan’s top ideas. Even if biosimilar competition takes half of Humira sales in the first 18 months after AbbVie loses U.S. market exclusivity, Schott sees the company’s earnings bottoming at $11 a share (compared with about $10 this year). | The market values AbbVie stock at only 8.5-times this year’s earnings forecast. Even if biosimilar competition takes half of Humira sales in the first 18 months after AbbVie loses U.S. market exclusivity, Schott sees the company’s earnings bottoming at $11 a share (compared with about $10 this year). AbbVie closed its acquisition of Allergan on Friday, and J.P. Morgan, which had advised Allergan on the deal, is now free of the restrictions that had kept it from showing its love for AbbVie’s stock. |
24568.0 | 2020-05-11 00:00:00 UTC | The Dow Slipped 109 Points Because Reopened Economies Aren't Business as Usual | ABBV | https://www.nasdaq.com/articles/the-dow-slipped-109-points-because-reopened-economies-arent-business-as-usual-2020-05-11 | nan | nan | As investors cautiously observed the impact of a reopening global economy, U.S. stocks pared back early losses on Monday to finish the session near the break-even line. The Dow Jones Industrial Average slipped 109.33 points, or 0.45%, to close at 24,221.99. The S&P 500 edged up 0.39 points, or 0.01%, to end at 2930.19, and the Nasdaq Composite added 71.02 points, or 0.78%, to close at 9192.34.
The lifted restrictions on business operations and social distancing have raised both hopes and fears—hopes that economic activities would see a quick rebound, and fears of an uptick in coronavirus cases, requiring new lockdowns.
Over the weekend, South Korea, which recently had the pandemic largely under control, reportedly saw more than 50 new Covid-19 cases tied to an infected man visiting nightclubs and bars. It marked the country’s biggest one-day increase in new infections in a month. South Korea quickly restored some social-distancing measures in Seoul and President Moon Jae-in warned in a national address that a second wave of infections could arise anytime and anywhere.
Likewise, Germany and China are also seeing upticks in cases after recently relaxing social restrictions. Still, many other European nations, including the U.K., France, Spain, Switzerland, and Belgium, are returning children to school, reopening some shops, or allowing greater movement this week.
Many U.S. states are also planning partial reopenings. Parts of New York state that met a set of criteria will begin to reopen Friday, Gov. Andrew Cuomo said at a press conference Monday. Still, in more severely impacted regions, the restrictions remain in place. New York City Mayor Bill de Blasio said the lockdown is likely to continue into June.
A potential cluster of Covid-19 infections within the White House is being closely watched, after President Donald Trump’s personal valet and Vice President Mike Pence’s press secretary both tested positive for the disease last week. Three senior members of the coronavirus task force led by Pence have isolated themselves, while officials from Pence’s office said the Vice President planned to be at the White House on Monday.
https://asset.barrons.com/dj-mg/dice/barrons-staffpicks-2d590600-c862-4394-b9d3-66b48c376d60/inset.json
There has been some notable merger-and-acquisition activities as of late, as the coronavirus continues to disrupt the economy and business operations.
AbbVie stock (ticker: ABBV) jumped 4.6% on Monday after the drug giant completed its purchase of Botox maker Allergan. The combined company will have a more diverse drug portfolio, stronger cash flow, and cheap valuation, says analysts, leaving it with a more attractive risk/reward profile than most large-cap biopharma peers.
Coty stock (COTY) plunged 7.9% after announcing the selling of its professional beauty and retail hair businesses to KKR (KKR) for $4.3 billion. Struggling with the coronavirus-induced recession, the cosmetics company reported a net loss of $271.6 million, for its fiscal third quarter. Coty said it would get an immediate injection of $3 billion cash from KKR when the deal is completed and the sales will result in a “significant deleveraging” of its balance sheet.
AMC Entertainment Holdings stock (AMC) also spiked 29.8% on Monday following a report that the embattled movie-theater chain is in talks to sell itself to Amazon.com (AMZN). Neither of the companies have confirmed the news.
Write to Evie Liu at evie.liu@barrons.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie stock (ticker: ABBV) jumped 4.6% on Monday after the drug giant completed its purchase of Botox maker Allergan. As investors cautiously observed the impact of a reopening global economy, U.S. stocks pared back early losses on Monday to finish the session near the break-even line. The lifted restrictions on business operations and social distancing have raised both hopes and fears—hopes that economic activities would see a quick rebound, and fears of an uptick in coronavirus cases, requiring new lockdowns. | AbbVie stock (ticker: ABBV) jumped 4.6% on Monday after the drug giant completed its purchase of Botox maker Allergan. South Korea quickly restored some social-distancing measures in Seoul and President Moon Jae-in warned in a national address that a second wave of infections could arise anytime and anywhere. Likewise, Germany and China are also seeing upticks in cases after recently relaxing social restrictions. | AbbVie stock (ticker: ABBV) jumped 4.6% on Monday after the drug giant completed its purchase of Botox maker Allergan. As investors cautiously observed the impact of a reopening global economy, U.S. stocks pared back early losses on Monday to finish the session near the break-even line. The lifted restrictions on business operations and social distancing have raised both hopes and fears—hopes that economic activities would see a quick rebound, and fears of an uptick in coronavirus cases, requiring new lockdowns. | AbbVie stock (ticker: ABBV) jumped 4.6% on Monday after the drug giant completed its purchase of Botox maker Allergan. The lifted restrictions on business operations and social distancing have raised both hopes and fears—hopes that economic activities would see a quick rebound, and fears of an uptick in coronavirus cases, requiring new lockdowns. Over the weekend, South Korea, which recently had the pandemic largely under control, reportedly saw more than 50 new Covid-19 cases tied to an infected man visiting nightclubs and bars. |
24569.0 | 2020-05-11 00:00:00 UTC | 5 Healthcare Stocks That Are Profitable but Also Cheap | ABBV | https://www.nasdaq.com/articles/5-healthcare-stocks-that-are-profitable-but-also-cheap-2020-05-11 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Today, keeping safe amid the novel coronavirus crisis is a priority for many people as they are restricted to home. That said, investing in solid healthcare stocks is perhaps one way to reinforce that priority.
I wanted to find cheap, but sturdy healthcare stocks that would be worthwhile investments. To be sure, this is the opposite of investing in a speculative new coronavirus cure stock. Well, it’s almost the opposite. Investing in a financially healthy, but now cheap healthcare company is one way of supporting these companies.
These companies want solid, long-term investors who won’t force them into speculative ventures, or disastrous acquisitions.
I found five medium to large capitalization healthcare stocks that are financially profitable, but also very cheap. For example, these stocks have price-earnings (P/E) ratios that are at 10 times earnings or below.
In addition, they all pay dividends, and the dividends are well-covered by earnings. In fact, their average dividend yield is about 4% or so.
Lastly, each one of these companies are heavy free cash flow (FCF) generators. For example, the level of FCF compared to the stock price is around 11% or greater. This is called their FCF yield.
This ratio is important because FCF is what pays for the dividend, software, capital expenditures and debt reduction. It also allows a company to increase its cash balance, as well as pay for acquisitions.
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So, here are the five healthcare stocks that have low P/E ratios and ample yields:
CVS Health (NYSE:CVS)
Walgreens Boots Alliance (NASDAQ:WBA)
AbbVie (NYSE:ABBV)
Bristol-Myers Squibb (NYSE:BMY)
Cardinal Health (NYSE:CAH)
With all of that in mind, let’s dive in.
Hot Healthcare Stocks: CVS Health (CVS)
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Source: Mark R. Hake, CFA
CVS Health is an $80 billion market cap stock that has over 9,900 retail drug stores land 1,100 MinuteClinic locations. To put it succinctly, CVS Health is thriving in the midst of the coronavirus crisis in the U.S. Moreover, CVS stock is cheap at just 8.7 times expected earnings.
For example, CVS Health’s revenue was up 8.3% to $66.8 billion in Q1. Moreover, its free cash flow grew to more than $2 billion from a loss of $38 million in FCF last year.
This is a very strong company. Despite the pandemic, people are shopping at CVS more. It also reported that 90-day prescriptions have risen, and people are also filling their maintenance prescriptions earlier.
This is due to CVS Health’s late 2018 acquisition of Aetna, a giant health insurance company. In fact, CVS CEO Larry Merlo said one purpose of the deal was to increase “personal contacts and deeper collaboration with their primary care physicians.”
Moreover, CVS kept its guidance for the coming year. It also expects a strong second quarter, aided by reduced expenses at Aetna. This means that the stock trades for a very cheap P/E ratio, below 9 times forward earnings.
Additionally, CVS’s dividend is very secure. The dividend yield is 3.3%, but the FCF yield is much higher at almost 15%. This means that there is plenty of FCF to pay the dividend.
All in all, this is a great healthcare stock for the long-term investor.
Walgreens Boots Alliance (WBA)
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Source: Mark R. Hake, CFA
Walgreens is a $36 billion market cap stock in the pharmacy business. It has more than 18,750 stores in 11 countries, as well as over 400 distribution centers. In the U.S., it has 9,277 stores under the Walgreens and Duane Reade name.
Moreover, Walgreens had a great second quarter. Its revenue was up 3.7% to $35.8 billion compared to Q2 2019. However, its gross, operating and net earnings were down year-over-year. The company has been in a store optimization program since 2018 in an attempt to reduce costs and close 750 poorly performing stores.
Much of the lower earnings results were from non-cash related expenses. For example, its cash flow from operations increased over 100% to $2.5 billion in the first half of its fiscal year.
In addition, free cash flow grew more than 400% to $1.8 billion as a result of its restructuring efforts. This means that the company has a very good FCF yield. FCF will be more than $5.2 billion this year, the same as last year. This gives the stock a FCF yield of over 14.5%.
Moreover, its dividend yield is very attractive at 4.4%, which is well covered by the FCF yield as mentioned above.
The company did not provide any future guidance post the coronavirus pandemic effect on their business after the quarter ended on February 19. Prior to this, they were expecting a flat performance compared to 2019.
Nevertheless, I suspect that performance may not suffer very much based on the guidance given by CVS Healthcare. As discussed above, people have been using prescriptions a lot more. This is essentially a very good business situation for a drug store chain like Walgreens.
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Walgreens is a sturdy, value stock that is worthy of investigation by value investors.
AbbVie (ABBV)
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Source: Mark R. Hake, CFA
AbbVie is a large $127 billion market cap drug stock. I have written before about AbbVie and its fast-growing dividend per share. ABBV stock is cheap with a forward P/E ratio of just 8.7 times. In addition, its dividend yield is very attractive at 5.5%.
Moreover, AbbVie’s $63 billion purchase of Allergan — expected to close shortly — will boost earnings and dividends and push ABBV stock higher. Allergan is well known for its Botox and other beauty products. And on May 5, AbbVie received antitrust approval in the U.S. for the acquisition.
According to Reuters, the deal will help AbbVie to diversify its earnings and “buys time” before its arthritis drug Humira goes off-patent in 2023. The deal is expected to close this month.
That said, look for analysts to begin upgrading the stock as it starts to post combined partial earnings during Q2 and fully consolidated Q3 for the two companies.
Meanwhile, I expect, based on last year’s FCF, the FCF yield is at least 10% — fully covering the dividend of 5.5%. This is an interesting value stock.
For example, the company has provided an EPS outlook of between $9.61 and $9.71 for 2020. That puts the stock well below 9 times earnings at today’s price. That said, this is a very attractive price for a solid, above-average dividend-paying stock.
Bristol-Myers Squibb (BMY)
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Source: Mark R. Hake, CFA
Bristol-Myers Squibb is a large $141 million market cap drug company which is also very cheap. Its forward P/E is about 10 times and its dividend yield is attractively priced at 2.9%.
In mid-November 2019, Bristol-Myers Squibb completed the acquisition of Celgene for $80 billion. In addition, a contingent value right (CVR) for $9 per Celgene share was issued, trading under the symbol CELGZ on NASDAQ.
Moreover, Bristol-Myers Squibb reported strong growth in Q1 on May 7, including 13% higher revenue with its Celgene division. This is a pro-forma calculation assuming the acquisition occurred on Jan. 1, 2019. Much of this increase came from the Celgene acquisition and its cancer drug, Revlimid.
The company projected that its 2020 earnings will reach between $6 per share and $6.20. That puts the stock on a forward P/E of just 10 times at the mid-point of its outlook.
My estimate is that the FCF yield is over 5% based on its trailing 12 months-FCF. This more than covers the dividend which also has an attractive yield of almost 3%.
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Value investors should look further at BMY stock, especially as the combination of both companies. Moreover, the company said that the coronavirus pandemic increased its sales by about $500 million. So this event is acting as a catalyst for the company.
Cardinal Health (CAH)
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Source: Mark R. Hake, CFA
Cardinal Health is a $15 billion market value integrated health services company. It owns hospitals, pharmacies, surgery centers, clinical labs and physician offices. However, 75% of its revenue comes from generic drug distribution business.
Cardinal Health is cheap based on its involvement with opioid class action lawsuits. That said, Seeking Alpha reported in February that both sides are trying to reach a national settlement soon. It appears that payouts will be lower than expected. That said, CAH stock could rise as the worst seems to be already discounted in the present market valuation.
Another author in Seeking Alpha has written that Cardinal Health is expected to have good results based on its sales of personal protection equipment.
As of mid-February, the company had provided an outlook of earnings per share of between $5.20 and $5.40 per share. And when the company reported earnings on Monday morning, they reaffirmed that fact.
So far, it has not adjusted that increased estimate from the last time it provided guidance. Sales of its PPE and other pandemic-related products may have boosted its earnings.
Overall, CAH stock is cheap at 9.3 times forward earnings, a dividend yield of 4% and an estimated FCF yield of 11%. Therefore, CAH stock is worth a careful look by value investors for these reasons.
Healthcare Stocks Summary and Conclusion
If you look at the table below, you see that this group of five healthcare stocks offer attractive valuation metrics for the careful investor. As a group, these stocks offer an average price-to-earnings ratio of below 9 times earnings, plus a dividend yield of 4%. Here is the table:
Moreover, the dividends are well covered since the average free cash flow is over 11%, which is higher than the 4% dividend yield.
Look to invest in these companies at attractive points over the next month or so. The reason is the valuations seem to offer an acceptable margin of safety for most value-oriented investors. Some of the companies are going to report their earnings outlook within the next few days. It might even be worthwhile to take a stake before those numbers emerge.
Mark Hake runs the Total Yield Value Guide which you can review here. The Guide focuses on high total yield value stocks. Subscribers receive a two-week free trial. As of this writing, he did not hold a position in any of the aforementioned securities.
The post 5 Healthcare Stocks That Are Profitable but Also Cheap appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Moreover, AbbVie’s $63 billion purchase of Allergan — expected to close shortly — will boost earnings and dividends and push ABBV stock higher. 7 of the Best Consumer Stocks to Buy Right Now So, here are the five healthcare stocks that have low P/E ratios and ample yields: CVS Health (NYSE:CVS) Walgreens Boots Alliance (NASDAQ:WBA) AbbVie (NYSE:ABBV) Bristol-Myers Squibb (NYSE:BMY) Cardinal Health (NYSE:CAH) With all of that in mind, let’s dive in. AbbVie (ABBV) ABBV)" width="269" height="291"> Click to Enlarge Source: Mark R. Hake, CFA AbbVie is a large $127 billion market cap drug stock. | 7 of the Best Consumer Stocks to Buy Right Now So, here are the five healthcare stocks that have low P/E ratios and ample yields: CVS Health (NYSE:CVS) Walgreens Boots Alliance (NASDAQ:WBA) AbbVie (NYSE:ABBV) Bristol-Myers Squibb (NYSE:BMY) Cardinal Health (NYSE:CAH) With all of that in mind, let’s dive in. AbbVie (ABBV) ABBV)" width="269" height="291"> Click to Enlarge Source: Mark R. Hake, CFA AbbVie is a large $127 billion market cap drug stock. I have written before about AbbVie and its fast-growing dividend per share. | 7 of the Best Consumer Stocks to Buy Right Now So, here are the five healthcare stocks that have low P/E ratios and ample yields: CVS Health (NYSE:CVS) Walgreens Boots Alliance (NASDAQ:WBA) AbbVie (NYSE:ABBV) Bristol-Myers Squibb (NYSE:BMY) Cardinal Health (NYSE:CAH) With all of that in mind, let’s dive in. AbbVie (ABBV) ABBV)" width="269" height="291"> Click to Enlarge Source: Mark R. Hake, CFA AbbVie is a large $127 billion market cap drug stock. I have written before about AbbVie and its fast-growing dividend per share. | 7 of the Best Consumer Stocks to Buy Right Now So, here are the five healthcare stocks that have low P/E ratios and ample yields: CVS Health (NYSE:CVS) Walgreens Boots Alliance (NASDAQ:WBA) AbbVie (NYSE:ABBV) Bristol-Myers Squibb (NYSE:BMY) Cardinal Health (NYSE:CAH) With all of that in mind, let’s dive in. AbbVie (ABBV) ABBV)" width="269" height="291"> Click to Enlarge Source: Mark R. Hake, CFA AbbVie is a large $127 billion market cap drug stock. I have written before about AbbVie and its fast-growing dividend per share. |
24570.0 | 2020-05-10 00:00:00 UTC | AbbVie Stock: Love It or Leave It? | ABBV | https://www.nasdaq.com/articles/abbvie-stock%3A-love-it-or-leave-it-2020-05-10 | nan | nan | The COVID-19 pandemic is still far from over, and many investors are increasingly looking for stability in a highly volatile stock market. And while no industry has been entirely immune to the adverse effects of the outbreak, some pharmaceutical companies have managed to handle the ongoing crisis better than most. AbbVie (NYSE: ABBV) is one of those companies with financial results that haven't been hit hard by the public health crisis. The drugmaker released its first-quarter financial results May 1, and AbbVie's revenue of $8.6 billion and earnings per share of $2.02 both came in ahead of analyst estimates.
Still, detractors may point to the fact that AbbVie's most important cash cow, Humira, continues to lose steam abroad: During the first quarter, Humira's international revenue was $1.047 billion, representing a 14.9% year-over-year decrease. Humira has been AbbVie's crown jewel since the pharma giant split from its former parent company, Abbott Laboratories (NYSE: ABT), to become a stand-alone publicly traded company in 2013.
Since then, AbbVie has outperformed the broader market -- largely thanks to Humira's growing sales -- with its shares gaining 136.6%, compared to 106.5% for the S&P 500. With this backdrop in mind, it isn't surprising that investors are skeptical of AbbVie now that Humira's sales are taking a serious hit. But even with Humira facing competition from biosimilars in Europe, there are plenty of reasons to love AbbVie's stock. Here are just three.
Image source: Getty Images.
1. Passing of the torch
Even though Humira's revenue continues to decline in international markets, the biologic treatment for plaque psoriasis, ulcerative colitis, and Crohn's disease among other indications, is still making headway in the U.S. During the first quarter, Humira's U.S. net revenue was $3.7 billion, a 13.7% year-over-year increase. AbbVie also has several drugs with fast-growing sales, and these drugs are recouping some of Humira's losses in international markets. For instance, there's Imbruvica, a cancer drug that AbbVie shares the rights to with Johnson & Johnson (NYSE: JNJ). During the first quarter, Imbruvica's revenue was $1.2 billion, representing a 37.9% increase compared to the prior-year quarter.
This cancer drug continues to rack up approvals too: Imbruvica recently earned its eleventh indication from the U.S. Food and Drug Administration (FDA). Elsewhere, revenue from Venclexta -- another cancer drug -- was $317 million, more than doubling compared to the year-ago period. Lastly, Skyrizi -- a treatment for moderate to severe plaque psoriasis that was approved last year -- recorded $300 million in revenue, compared to the $216 million it recorded during the fourth quarter. These products will continue to help AbbVie's revenue stay afloat.
2. Allergan acquisition
Last year, AbbVie famously made a move to acquire Allergan (NYSE: AGN) in a cash and stock transaction valued at about $63 billion. And while this acquisition ran into some roadblocks -- including from a coalition of unions and consumer groups that raised antitrust concerns -- the deal is set to close sometime this month. Once the acquisition is complete, AbbVie will have even more products in its lineup to further reduce its top-line exposure to Humira.
It is worth noting that although AbbVie will pay approximately $41 billion in cash to fund this acquisition, the company significantly increased the amount of debt on its balance sheet. In November, AbbVie issued $30 billion in unsecured notes, the proceeds of which the company will use to fund the blockbuster acquisition and related expenses.
As a result, AbbVie's balance sheet isn't exactly stellar at the moment, with a debt-to-assets ratio of 76.9%. By comparison, Johnson & Johnson, Merck (NYSE: MRK) and Eli Lilly (NYSE: LLY) -- three of AbbVie's biggest competitors in the pharmaceutical industry -- sport debt to assets ratios of 17.8%, 34.8%, and 41.9%, respectively. With that said, AbbVie has a plan to repay this debt.
During the company's first-quarterearnings conference call CFO Robert Michael said, "The robust cash flow generation of the combined company will be used to rapidly pay down debt, support a strong and growing dividend and pursue additional innovative mid-to-late stage pipeline assets. We have committed to paying down $15 billion to $18 billion of combined company debt by the end of 2021, of which nearly $7 billion will be repaid by the end of May 2020."
AbbVie is particularly counting on Allergan's crown jewel, Botox, to decrease its reliance on Humira and generate strong cash flows. During Allergan's latest reported quarter -- Q4 2019 -- Botox's total net revenue was about $1 billion, a 7.9% year over year increase. AbbVie is also counting on the fact there are currently no biosimilars for Botox, and in the words of AbbVie's CEO Richard Gonzalez, it would be "extremely difficult" to create any biosimilar for this product.
Because of these factors, AbbVie's amount of debt shouldn't be a deal-breaker for investors.
3. AbbVie's juicy dividend
Lastly, AbbVie remains a stock worth serious consideration for income-oriented investors. The company currently offers a dividend yield of 5.5%, which compares favorably to that of the S&P 500 at about 2.3%. AbbVie's quarterly dividend has increased by 131.4% over the past five years.
Further, AbbVie's dividend payout ratio is currently 56.6%, and the company's cash dividend payout ratio -- an even better measure of a company's ability to sustain its dividends -- is currently a healthy 49.8%. In short, while companies have slashed or suspended their dividend payments left and right as a result of the ongoing crisis, AbbVie is unlikely to do so.
Investor takeaway
AbbVie has performed better than the broader market year to date. The company's stock is down by 3.6% since the beginning of the year, while the S&P 500 is down by 11.2%. And since AbbVie is well-equipped to handle the ongoing crisis, I expect the pharma giant to continue outperforming the market in the foreseeable future. But AbbVie's long-term prospects also remain appealing, and in my view, the company's stock will continue to perform well long after the COVID-19 pandemic ends. In short, AbbVie is a pharma stock worth buying.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It is worth noting that although AbbVie will pay approximately $41 billion in cash to fund this acquisition, the company significantly increased the amount of debt on its balance sheet. But AbbVie's long-term prospects also remain appealing, and in my view, the company's stock will continue to perform well long after the COVID-19 pandemic ends. AbbVie (NYSE: ABBV) is one of those companies with financial results that haven't been hit hard by the public health crisis. | It is worth noting that although AbbVie will pay approximately $41 billion in cash to fund this acquisition, the company significantly increased the amount of debt on its balance sheet. AbbVie is particularly counting on Allergan's crown jewel, Botox, to decrease its reliance on Humira and generate strong cash flows. AbbVie (NYSE: ABBV) is one of those companies with financial results that haven't been hit hard by the public health crisis. | Still, detractors may point to the fact that AbbVie's most important cash cow, Humira, continues to lose steam abroad: During the first quarter, Humira's international revenue was $1.047 billion, representing a 14.9% year-over-year decrease. AbbVie's juicy dividend Lastly, AbbVie remains a stock worth serious consideration for income-oriented investors. Further, AbbVie's dividend payout ratio is currently 56.6%, and the company's cash dividend payout ratio -- an even better measure of a company's ability to sustain its dividends -- is currently a healthy 49.8%. | AbbVie (NYSE: ABBV) is one of those companies with financial results that haven't been hit hard by the public health crisis. It is worth noting that although AbbVie will pay approximately $41 billion in cash to fund this acquisition, the company significantly increased the amount of debt on its balance sheet. AbbVie's quarterly dividend has increased by 131.4% over the past five years. |
24571.0 | 2020-05-10 00:00:00 UTC | What Investors Are Missing About Gilead Sciences | ABBV | https://www.nasdaq.com/articles/what-investors-are-missing-about-gilead-sciences-2020-05-10 | nan | nan | Gilead Sciences (NASDAQ: GILD) is quite the famous pharmaceutical company these days. Its antiviral remdesivir is the hot drug of the moment due to its apparent success in clinical trials with patients who have COVID-19, the disease caused by the SARS-CoV-2 coronavirus.
A hot drug leads to a lot of interest in a stock, which is the key reason why Gilead's shares have generally been on the rise since the world became reacquainted or initially acquainted with remdesivir (formerly a treatment for Ebola). But I think that as an investment, the company has another very attractive factor that isn't getting quite so much attention -- or any at all.
Image source: Getty Images.
Profit participation
That under-the-radar factor is Gilead's quarterly dividend, which is generous relative to the broader stock market's average dividend, and it's consistent and dependable to boot.
Since the company initiated the investor payout in 2015, it has risen steadily from $0.43 to the present level of $0.68 thanks to its annual raises. At the moment the dividend yield is 3.5%, which compares very favorably to the 2.1% average yield of all S&P 500 stocks (a group which, to be fair, includes numerous companies that don't pay dividends).
As with any dividend investment, though, we have to consider whether Gilead's payout is sustainable. After all, there's little point in buying a stock for its dividend if that payout will be reduced or eliminated -- which is not an unusual occurrence in an economy being rocked by the coronavirus pandemic.
Looking at the company's fundamentals in recent history, it usually lands in the black on an annual basis -- even following a big fall from its peak sales year of 2015, when it ruled the market for hepatitis treatments (though it has lately been recovering on both the top and bottom lines). From that year on, even with some scary drops in sales and net profit, its annual net margin never fell below 18%.
Wide margins typically mean strong cash flow, and that's the case for Gilead. The company's free cash flow isn't at 2015 levels, but it's still quite robust. For full-year 2019, that line item grew a healthy 11% year-over-year to over $8.3 billion. That year the company's total spending on its dividend was $3.2 billion, making the cash dividend payout ratio 39%. So the dividend is, at the very least, sustainable for now.
Assuming Gilead manages to enlarge that free cash flow figure again there's going to be plenty of room for more of those annual dividend raises. At least initially remdesivir won't be a money-spinner, as the company has said it will donate the doses it has on hand. A more promising avenue for growth is the company's HIV drug program, which is stuffed with no fewer than five blockbuster drugs. It also has two treatments in the pipeline, vesatolimod and elipovimab, that could cure HIV entirely.
Another potential blockbuster -- and maybe a multi-faceted one at that -- is immunology drug filgotinib, a rheumatoid arthritis treatment now under priority review by the FDA (it has also been submitted to regulators in Europe and Japan). Theglobal marketfor rheumatoid arthritis is estimated in the tens of billions of dollars. On top of that, filgotinib is being evaluated for other indications such as ulcerative colitis and Crohn's Disease.
Power and potential
Of course, Gilead isn't the only game in this town; there are other established, cash-rich pharmaceutical companies that pay reliable dividends.
Abbott Laboratories (NYSE: ABT) has been increasing its own payout for decades, to the point where it's a Dividend Aristocrat. Its 2013 spinoff, AbbVie (NYSE: ABBV) inherited a place in that celebrated group of stocks and has kept it by raising the distribution on the regular (it's also still the big rheumatoid arthritis player with its Humira). Gilead's 3.5% yield is close to the midpoint of Abbott Labs' 1.6% and AbbVie's 5.5%.
But in my opinion, Gilead has explosive potential immediately in front of it, more so than Abbott Labs, AbbVie, or numerous other dividend payers in Big Pharmaville. Remdesivir aside, Gilead already has a strong portfolio and an excellent pipeline. Meanwhile, the company's solid cash-generating tendencies, its ability to grow, and its high profitability make it a fine stock for income investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Its 2013 spinoff, AbbVie (NYSE: ABBV) inherited a place in that celebrated group of stocks and has kept it by raising the distribution on the regular (it's also still the big rheumatoid arthritis player with its Humira). Gilead's 3.5% yield is close to the midpoint of Abbott Labs' 1.6% and AbbVie's 5.5%. But in my opinion, Gilead has explosive potential immediately in front of it, more so than Abbott Labs, AbbVie, or numerous other dividend payers in Big Pharmaville. | Its 2013 spinoff, AbbVie (NYSE: ABBV) inherited a place in that celebrated group of stocks and has kept it by raising the distribution on the regular (it's also still the big rheumatoid arthritis player with its Humira). Gilead's 3.5% yield is close to the midpoint of Abbott Labs' 1.6% and AbbVie's 5.5%. But in my opinion, Gilead has explosive potential immediately in front of it, more so than Abbott Labs, AbbVie, or numerous other dividend payers in Big Pharmaville. | Its 2013 spinoff, AbbVie (NYSE: ABBV) inherited a place in that celebrated group of stocks and has kept it by raising the distribution on the regular (it's also still the big rheumatoid arthritis player with its Humira). Gilead's 3.5% yield is close to the midpoint of Abbott Labs' 1.6% and AbbVie's 5.5%. But in my opinion, Gilead has explosive potential immediately in front of it, more so than Abbott Labs, AbbVie, or numerous other dividend payers in Big Pharmaville. | But in my opinion, Gilead has explosive potential immediately in front of it, more so than Abbott Labs, AbbVie, or numerous other dividend payers in Big Pharmaville. Its 2013 spinoff, AbbVie (NYSE: ABBV) inherited a place in that celebrated group of stocks and has kept it by raising the distribution on the regular (it's also still the big rheumatoid arthritis player with its Humira). Gilead's 3.5% yield is close to the midpoint of Abbott Labs' 1.6% and AbbVie's 5.5%. |
24572.0 | 2020-05-09 00:00:00 UTC | 3 Best Healthcare Stocks to Buy in May | ABBV | https://www.nasdaq.com/articles/3-best-healthcare-stocks-to-buy-in-may-2020-05-09 | nan | nan | The COVID-19 pandemic has wrecked havoc on several major industries this year. However, the healthcare sector has been one of the few bright spots in this rather ugly market. A wide swath of the healthcare space, in fact, is in positive territory for the year right now.
Generally speaking, investors have flocked to these companies because of their somewhat unique ability to continue to operate during this ongoing pandemic. Not many businesses outside of healthcare and technology can make that claim.
Which healthcare stocks have the best chance of pushing even higher over the course of May? AbbVie (NYSE: ABBV), Adverum Biotechnologies (NASDAQ: ADVM), and Heron Therapeutics (NASDAQ: HRTX) are three names healthcare investors will definitely want to keep their eyes on this month. Here's why.
Image source: Getty Images.
AbbVie: A de-risked growth and income play
AbbVie is a large-cap biopharma company. The company's shares are worth checking out this month for two core reasons. First and foremost, AbbVie is slated to close on its $63 billion acquisition of Allergan before the end of May. This mega-merger will greatly diversify AbbVie's product portfolio, lowering the risk associated with the eventual decline of the company's anti-inflammatory medicine, Humira.
Secondly, AbbVie's brand-new immunology medicines Skyrizi and Rinvoq, and its blood cancer franchise consisting of Imbruvica and Venclexta, are all exceeding expectations at the moment. These four key products, in fact, helped AbbVie to handily beat Wall Street's first-quarter revenue estimate earlier this month.
AbbVie's shares have yet to truly benefit from these positive tailwinds, though. As proof, the company's stock is presently trading at less than nine times forward-looking earnings. That's a dirt-cheap valuation for a blue-chip biopharma stock, especially for one that pays a sky-high annualized yield of 5.53% at current levels. So, if you're on the hunt for a grossly undervalued growth and income vehicle, AbbVie should definitely be at the top of your list this month.
Adverum: A disruptive gene therapy stock
Adverum is a clinical-stage gene therapy company. The biotech's shares have gained 71% so far this year due to an encouraging clinical update for its wet age-related macular degeneration (wet AMD) candidate ADVM-022. ADVM-022 is designed to be a one-and-done gene therapy for wet AMD. Currently, patients with this serious eye disorder have to receive frequent anti-VEGF injections simply to slow the progression the disease. Adverum's therapy could thus prove to be a game-changer for this condition.
What's the opportunity? The anti-VEGF injection market for wet AMD is a multibillion-dollar space. Adverum's experimental therapy thus has the real potential to morph into a megablockbuster product by the end of the decade. The drawback with this small-cap biotech stock is that ADVM-022 is still in the early stages of development, meaning it could take several more years before Adverum books any sales for this high-value product candidate.
That being said, Adverum might have a big target on its back on the heels of this data release. Gene therapies are highly sought-after products, and ADVM-022 is targeting an enormous market in wet AMD. Adverum, in turn, may already be fielding buyout or partnering offers. Regardless, this small-cap biotech stock comes across as woefully undervalued based on ADVM-022's commercial opportunity.
Heron: This biotech stock could double in value soon
Heron is an early commercial stage biopharma. The company currently markets two drugs indicated for chemotherapy-induced nausea and vomiting. But the real star of the show is the experimental postoperative pain medication HTX-011. Wall Street's peak sales for this pain drug presently range from a low of $545 million to a high of $1 billion. To put these revenue projections into context, Heron's market cap presently stands at a mere $1.33 billion.
What's the lowdown? The FDA's target review date for HTX-011 is set for June 26, 2020. The agency could still delay a final decision due to the COVID-19 pandemic, but Heron seems to think the FDA will ultimately stick by this goal date.
The big picture is that HTX-011 -- if approved in a timely manner -- should super-charge Heron's top line over the next 10 years. This small-cap biotech stock, in turn, could be on the cusp of a major growth spurt in the second half of 2020.
What's the risk? Regulatory decisions are impossible to handicap. So, while Heron's stock does sport a juicy upside potential, investors probably shouldn't go hog-wild with this name ahead of this risky binary event. A smallish position, though, may be worth the risk.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Secondly, AbbVie's brand-new immunology medicines Skyrizi and Rinvoq, and its blood cancer franchise consisting of Imbruvica and Venclexta, are all exceeding expectations at the moment. AbbVie (NYSE: ABBV), Adverum Biotechnologies (NASDAQ: ADVM), and Heron Therapeutics (NASDAQ: HRTX) are three names healthcare investors will definitely want to keep their eyes on this month. AbbVie: A de-risked growth and income play AbbVie is a large-cap biopharma company. | AbbVie (NYSE: ABBV), Adverum Biotechnologies (NASDAQ: ADVM), and Heron Therapeutics (NASDAQ: HRTX) are three names healthcare investors will definitely want to keep their eyes on this month. AbbVie: A de-risked growth and income play AbbVie is a large-cap biopharma company. First and foremost, AbbVie is slated to close on its $63 billion acquisition of Allergan before the end of May. | 10 stocks we like better than AbbVie When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of April 16, 2020 George Budwell owns shares of AbbVie. AbbVie (NYSE: ABBV), Adverum Biotechnologies (NASDAQ: ADVM), and Heron Therapeutics (NASDAQ: HRTX) are three names healthcare investors will definitely want to keep their eyes on this month. | AbbVie (NYSE: ABBV), Adverum Biotechnologies (NASDAQ: ADVM), and Heron Therapeutics (NASDAQ: HRTX) are three names healthcare investors will definitely want to keep their eyes on this month. AbbVie: A de-risked growth and income play AbbVie is a large-cap biopharma company. First and foremost, AbbVie is slated to close on its $63 billion acquisition of Allergan before the end of May. |
24573.0 | 2020-05-08 00:00:00 UTC | Is Gilead Sciences Stock a Buy? | ABBV | https://www.nasdaq.com/articles/is-gilead-sciences-stock-a-buy-2020-05-08 | nan | nan | Biotech giant Gilead Sciences (NASDAQ: GILD) has attracted widespread attention in recent weeks as its antiviral drug remdesivir gained momentum as a candidate for treating severe cases of COVID-19. Last week, remdesivir received authorization from the U.S. Food and Drug Administration (FDA) for use in severe cases of COVID-19, an event newsworthy enough to merit an audience at the White House by the CEO.
Gilead shares have been moribund for years as sales declines in the company's hepatitis C (HCV) drugs canceled out any gains from the rest of the company's portfolio. But the prospects for remdesivir have investors excited about the stock, which has risen 24% since January.
After this run-up in the share price, should you join the party and buy Gilead stock now?
The outcome for remdesivir is still very uncertain
The possibility that remdesivir could speed the recovery of severe cases of COVID-19 is great news, especially for the patients and for a world looking for some hope in the battle against this virus. But given what little we actually know about remdesivir, the jump in Gilead's share price seems overdone.
Image source: Getty Images.
The FDA's emergency authorization for remdesivir is based on preliminary results from a trial involving 1,063 patients who were hospitalized with severe COVID-19. On average, the patients treated with remdesivir recovered in 11 days, compared with 15 days for the placebo group. Mortality was a little lower with the treated group as well, but that result was not statistically significant.
That early data is certainly enough to consider remdesivir the new standard of care for severe COVID-19 for now, but there are still hurdles for Gilead to clear in order for the drug to be a winner in the long term. The results will need to be confirmed in other tests, and the investigational drug, which has not yet been formally approved for any indication, will also have to beat out new rivals in head-to-head competition. There are at least 10 clinical trials getting under way comparing remdesivir to other antivirals, including drugs that are already in the marketplace and sold by industry heavyweights such as Eli Lilly and AbbVie.
Beyond this current emergency situation, we don't know how many patients will eventually be treated with remdesivir and how much money Gilead will make from it. We don't know how it will compare with the other drugs in its class, whether it will win approval for a broad segment of patients or narrow one, and -- in the biggest unknown of all -- we have no idea what course this disease will take. There could be millions of hospitalized COVID-19 victims in 2021, or there could be a few thousand.
Gilead is donating enough remdesivir to treat at least 140,000 patients for free, but beyond that, the price the company will charge is still a mystery. Analysts in the company's conference call on April 30 tried several times to get an idea, but the company wasn't talking. Gilead expects to manufacture enough for a million courses of treatment by the end of the year, and even more next year, but the amount they'll charge for it, and even the amount they'll be able to sell, is still unknown.
Strengths were building before the pandemic
The company had some good things going for it before it landed in the coronavirus spotlight. The share price had gone nowhere for three years while the company was a victim of its own success. The company's drugs for hepatitis C cured the disease, resulting in a shrinking pool of patients to treat and a resulting decline in the top line. Investors were anticipating that the company would use its massive pool of cash to buy some growth with acquisitions, but Gilead moved more slowly than many of us were hoping. And when it finally made a big deal to buy cancer cell therapy specialist Kite Pharma, it was criticized for the high price it paid.
Still, the company has been laying the foundation for steady growth, and until recently, that progress hadn't been reflected in the share price. The Kite acquisition gave the company a foundation in oncology, and even though Kite CAR-T therapy Yescarta has yet to provide much of a boost to Gilead's revenue, sales are growing rapidly, up 46% in the last quarter. The company also recently acquired Forty Seven, a specialist in blood cancer drugs that builds on Gilead's immune-oncology pipeline.
An entry into the huge market for immunology drugs may pay off for Gilead even more quickly than its oncology investments. The company's investment in Galapagos NV has given it rights to filgotinib, a drug that's under review by the FDA and, if approved, could be launched later this year. The drug is submitted for rheumatoid arthritis, but it's also in phase 3 trials for ulcerative colitis, Crohn's disease, and psoriatic arthritis, and it's a real threat to take share away from AbbVie's Humira, the world's top-selling drug.
A new leadership team
I think the most important sign that the company is making a transition that will lead to higher growth is the change in leadership. The company brought in a new CEO last year, Daniel O'Day, who has been revamping the company's C-suite. O'Day, formerly CEO of Roche, hired former colleague Merdad Parsey from Roche's Genentech division to be chief medical officer, and he's added a new chief commercial officer and a new chief financial officer as well.
The new team has plenty of cash to work with. Gilead has $24 billion in cash on its balance sheet, and it generated over $9 billion in operating cash flow last year. Whereas the previous team didn't get high marks from investors for business development, the current management team is going to be making some serious effort to build new sources of growth.
The path to growth won't necessarily be smooth, though. Last year's decline in HCV drug sales was $800 million, leaving the company with a top-line gain of only $442 million, or 2%. The company also announced in December the latest of several clinical failures in its attempt to develop a treatment for non-alcoholic steatohepatitis, or NASH. However the company's core franchise in HIV is doing well, and pipeline investments should start paying off before long.
Short-term risk, but long-term potential
The attention on remdesivir has driven up the valuation of the stock this year, as this graph shows:
Gilead share price vs. analyst consensus estimate of earnings per share. Data source: YCharts.
The good news for Gilead investors was that the stock was cheap before the pandemic, and investors had yet to recognize the positive signs on the horizon for the company. For long-term growth and a safe 3.4% dividend, Gilead Sciences is a buy at its current valuation of just over 12 times the analyst consensus estimate of 2020 earnings per share.
That 24% price bump due to remdesivir's potential is a risk, though. The company said in its most recent conference call that it could potentially invest $1 billion during 2020 in developing remdesivir, and there's a very wide range of potential financial outcomes for the drug, as we've seen. Investors with the patience to watch the longer story play out could buy the stock now and hold for years. Any disappointment about remdesivir's potential -- reasonably likely, in my opinion -- could give investors an opportunity to buy this solid pharmaceutical business for a better price later this year.
10 stocks we like better than Gilead Sciences
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Gilead Sciences wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of April 16, 2020
Jim Crumly owns shares of AbbVie and Gilead Sciences. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | There are at least 10 clinical trials getting under way comparing remdesivir to other antivirals, including drugs that are already in the marketplace and sold by industry heavyweights such as Eli Lilly and AbbVie. The drug is submitted for rheumatoid arthritis, but it's also in phase 3 trials for ulcerative colitis, Crohn's disease, and psoriatic arthritis, and it's a real threat to take share away from AbbVie's Humira, the world's top-selling drug. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Crumly owns shares of AbbVie and Gilead Sciences. | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Crumly owns shares of AbbVie and Gilead Sciences. There are at least 10 clinical trials getting under way comparing remdesivir to other antivirals, including drugs that are already in the marketplace and sold by industry heavyweights such as Eli Lilly and AbbVie. The drug is submitted for rheumatoid arthritis, but it's also in phase 3 trials for ulcerative colitis, Crohn's disease, and psoriatic arthritis, and it's a real threat to take share away from AbbVie's Humira, the world's top-selling drug. | There are at least 10 clinical trials getting under way comparing remdesivir to other antivirals, including drugs that are already in the marketplace and sold by industry heavyweights such as Eli Lilly and AbbVie. The drug is submitted for rheumatoid arthritis, but it's also in phase 3 trials for ulcerative colitis, Crohn's disease, and psoriatic arthritis, and it's a real threat to take share away from AbbVie's Humira, the world's top-selling drug. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Crumly owns shares of AbbVie and Gilead Sciences. | There are at least 10 clinical trials getting under way comparing remdesivir to other antivirals, including drugs that are already in the marketplace and sold by industry heavyweights such as Eli Lilly and AbbVie. The drug is submitted for rheumatoid arthritis, but it's also in phase 3 trials for ulcerative colitis, Crohn's disease, and psoriatic arthritis, and it's a real threat to take share away from AbbVie's Humira, the world's top-selling drug. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Crumly owns shares of AbbVie and Gilead Sciences. |
24574.0 | 2020-05-06 00:00:00 UTC | 3 Dividend Stocks Perfect for Retirees | ABBV | https://www.nasdaq.com/articles/3-dividend-stocks-perfect-for-retirees-2020-05-06 | nan | nan | Dividend stocks are a perfect fit for a retiree's portfolio considering the supplemental income they provide, which also adds to investor returns in the long run as compounding works its magic.
However, not all dividend stocks are ideal for retirees. In retirement, it's ideal to own stocks that don't just pay out stable and regular dividends, but also increase them regularly for greater long-term returns. Here are three great stock to consider.
Invest in the future of renewable energy
A utility stock is an obvious choice for a retiree given the defensive nature of the business of utilities, which enables them to generate stable cash flows and pay regular dividends. But the stock I'll recommend today isn't just a traditional utility; it's one of the top renewable energy stocks you could own. Because clean energy is the future of energy, investing in a top company in the field, like NextEra Energy (NYSE: NEE), should pay off.
NextEra is the world's largest producer of wind and solar energy. It operates two electric companies, Florida Power & Light (FPL) and Gulf Power Company, that together serve millions of customers in Florida.
Image source. Getty Images.
NextEra's recent quarterly earnings report and medium-term financial goals announced in April were hugely encouraging. To start, NextEra aims to increase dividends by 10% per year off of its 2020 dividend base of around $5.60 per share, through "at least" 2022, backed by 6% to 8% targeted compound annual growth in adjusted earnings per share for 2021 and 2022.
With billions of dollars lined up in expansion, committed dividend increases, and the stock yielding a decent 2.4%, NextEra should keep minting money for retirees.
This top healthcare stock won't disappoint you
AbbVie (NYSE: ABBV) is a great choice for retirees for two big reasons: Its incredible dividend track record and clout in healthcare, another defensive sector.
AbbVie is a pretty young company in the sense that it was formed in 2013 after separating from Abbott Laboratories, but its expertise in pharmaceuticals runs deep. The company specifically targets its research and development toward "difficult-to-cure" diseases and specializes in oncology, rheumatology, dermatology, and gastroenterology.
There have been concerns about competition eating into key drug Humira's edge in the world, but AbbVie's latest quarterly report suggests sales for the drug are still strong even as it prepares to acquire Allergan (NYSE: AGN) to diversify revenues beyond Humira.
Management expects the combined company to produce strong cash flows in coming years to support dividends. Since inception in 2013, AbbVie's dividend has grown 195%, including the 10% dividend increase it announced in February 2020. With the stock yielding a solid 5.7% currently, I think AbbVie should deliver good returns for retirees.
These dividends should help you during tough times
Johnson & Johnson (NYSE: JNJ) increased its dividend by 6% in April, marking its 58th consecutive year of annual dividend increases. That dividend streak alone makes J&J a top retiree stock.
Also a healthcare company, J&J is more diversified than AbbVie as it runs three broad segments. Pharmaceutical contributed roughly 42%, medical devices 26%, and consumer healthcare 14% to J&J's total sales in 2019.
The diversified portfolio, innovation, prioritization of growth opportunities through internal pipeline development and opportunistic acquisitions, and commitment to return capital to shareholders through regular share repurchases and dividends make J&J a great stock to own. An example of innovation is J&J's race to develop a COVID-19 vaccine. With its rich pipeline, globally renowned brands, and a decent dividend yield of 2.7%, J&J is a stock retirees would love to own.
10 stocks we like better than Johnson & Johnson
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Johnson & Johnson wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of April 16, 2020
Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool recommends Johnson & Johnson and NextEra Energy. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This top healthcare stock won't disappoint you AbbVie (NYSE: ABBV) is a great choice for retirees for two big reasons: Its incredible dividend track record and clout in healthcare, another defensive sector. AbbVie is a pretty young company in the sense that it was formed in 2013 after separating from Abbott Laboratories, but its expertise in pharmaceuticals runs deep. There have been concerns about competition eating into key drug Humira's edge in the world, but AbbVie's latest quarterly report suggests sales for the drug are still strong even as it prepares to acquire Allergan (NYSE: AGN) to diversify revenues beyond Humira. | This top healthcare stock won't disappoint you AbbVie (NYSE: ABBV) is a great choice for retirees for two big reasons: Its incredible dividend track record and clout in healthcare, another defensive sector. AbbVie is a pretty young company in the sense that it was formed in 2013 after separating from Abbott Laboratories, but its expertise in pharmaceuticals runs deep. There have been concerns about competition eating into key drug Humira's edge in the world, but AbbVie's latest quarterly report suggests sales for the drug are still strong even as it prepares to acquire Allergan (NYSE: AGN) to diversify revenues beyond Humira. | This top healthcare stock won't disappoint you AbbVie (NYSE: ABBV) is a great choice for retirees for two big reasons: Its incredible dividend track record and clout in healthcare, another defensive sector. AbbVie is a pretty young company in the sense that it was formed in 2013 after separating from Abbott Laboratories, but its expertise in pharmaceuticals runs deep. There have been concerns about competition eating into key drug Humira's edge in the world, but AbbVie's latest quarterly report suggests sales for the drug are still strong even as it prepares to acquire Allergan (NYSE: AGN) to diversify revenues beyond Humira. | This top healthcare stock won't disappoint you AbbVie (NYSE: ABBV) is a great choice for retirees for two big reasons: Its incredible dividend track record and clout in healthcare, another defensive sector. AbbVie is a pretty young company in the sense that it was formed in 2013 after separating from Abbott Laboratories, but its expertise in pharmaceuticals runs deep. There have been concerns about competition eating into key drug Humira's edge in the world, but AbbVie's latest quarterly report suggests sales for the drug are still strong even as it prepares to acquire Allergan (NYSE: AGN) to diversify revenues beyond Humira. |
24575.0 | 2020-05-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-GM, Axcella, Beyond Meat, SmileDirect | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-gm-axcella-beyond-meat-smiledirect-2020-05-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The S&P 500 and Nasdaq rose on Wednesday on hopes of a pickup in business activity as U.S. states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in U.S. private payrolls last month. .N
At 13:09 ET, the Dow Jones Industrial Average .DJI was down 0.09% at 23,861.94. The S&P 500 .SPX was up 0.04% at 2,869.57 and the Nasdaq Composite .IXIC was up 1.08% at 8,904.273. The top three S&P 500 .PG.INX percentage gainers: ** FLIR Systems Inc FLIR.O, up 9.9% ** Davita Inc DVA.N, up 7.1% ** Kla Corp KLAC.O, up 5.9% The top three S&P 500 .PL.INX percentage losers: ** Occidental Petroleum Corp OXY.N, down 9.2% ** Simon Property Group Inc SPG.N, down 7.7% ** Cincinnati Financial Corp CINF.O, down 7.7% The top NYSE .PG.N percentage gainer: ** Cars.Com Inc CARS.N, up 43.6% The top two NYSE .PL.N percentage losers: ** Nautilus Inc NLS.N, down 18.5% ** Bluegreen Vacations Corp BXG.N, down 16.7% The top three Nasdaq .PG.O percentage gainers: ** Macrogenics MGNX.O, up 259.7% ** Liveperson Inc LPSN.O, up 41.5% ** Axcla Health Inc AXLA.O, up 26.8% The top three Nasdaq .PL.O percentage losers: ** Wealthbridge Acquisition Ltd HHHH.O, down 25.4% ** Clensprk Inc CLSK.O, down 24.6% ** Inogen Inc INGN.O, down 20.2% ** Mesoblast Ltd MESO.O: up 7.3%
BUZZ-Up after dosing first COVID-19 patients in U.S. study
** Office Depot Inc ODP.O: up 16.5%
BUZZ-Jumps on strong results, withdraws 2020 guidance
** Mercadolibre Inc MELI.O: up 20.8%
BUZZ-Jumps as online shoppers boost Q1 revenue
** General Motors Co GM.N: up 4.3%
BUZZ-Jumps on Q1 beat; to resume U.S. production on May 18
** Cars.com Inc CARS.N: up 43.6%
BUZZ-Surges on strong Q1 results
** Bunge Ltd BG.N: down 13.4%
BUZZ-Slips after swinging to Q1 loss, 2020 forecast cut
** Wendy's Co WEN.O: up 6.8%
BUZZ-Jumps as co sees improving sales, breakfast success amid lockdown
** Clearwater Paper CLW.N: up 16.0%
BUZZ-Rises after surprise profit on higher demand for tissues
** Venator Materials Plc VNTR.N: up 11.0%
BUZZ-Rises on surprise Q1 profit, revenue beat
** Silk Road Medical Inc SILK.O: down 12.7%
BUZZ-Falls on upsized secondary stock offering
** OneSpan Inc OSPN.O: up 13.0% BUZZ-Rises on profit beat, upbeat forecast ** LivePerson Inc LPSN.O: up 41.5% BUZZ-Gains on Q1 revenue beat, full-year outlook
** Activision Blizzard Inc ATVI.O: up 5.9% BUZZ-Jumps on strong outlook, Electronic Arts falls
** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Street View: Virus takes bite out of Beyond Meat's growth
** CPS Technologies Corp CPSH.O: up 32.8% BUZZ-Set for best day in more than 10 years on higher earnings
** CVS Health Corp CVS.N: up 1.1% BUZZ-Gains as coronavirus-led stockpiling drives Q1 beat
** Wayfair Inc W.N: up 8.4% BUZZ-Brokerages hike PT on Q1 revenue beat
** Norwegian Cruise Line Holdings Ltd NCLH.N: down 0.4% BUZZ-Drifts higher after upsized $2.2 bln recap
** Delphi Technologies Plc DLPH.N: up 16.1%
BUZZ-Gains after BorgWarner reaffirms commitment to buy co
** Prudential Financial Inc PRU.N: down 6.9%
BUZZ-Falls on dismal Q1 results
** DarioHealth Corp DRIO.O: up 9.5%
BUZZ-Up after FDA approves use of glucose meters in hospitals
** Axcella Health Inc AXLA.O: up 26.8%
BUZZ-Surges on positive results for liver disease drugs
** SmileDirectClub Inc SDC.O: up 10.8%
BUZZ-Jumps on partnership with health insurer Anthem
** Beyond Meat Inc BYND.O: up 24.3%
BUZZ-Reheats as results beat
** Nautilus Inc NLS.N: down 18.5%
BUZZ-Sheds weight - stock plummets after Q1 results
** Everbridge Inc EVBG.O: up 21.1%
BUZZ-Jumps on smaller-than-expected loss, upbeat forecast
** GrafTech International Ltd EAF.N: down 14.7%
BUZZ-Slides on drop in sales, COVID-19 impact ** Merck & Co Inc MRK.N: up 0.2% ** Amgen Inc AMGN.O: up 1.0% ** Biogen Inc BIIB.O: up 2.2% ** AbbVie Inc ABBV.N: up 1.9% BUZZ-Pharma sector's pipeline quality improves, mixed impact of COVID-19 - Moody's ** Virgin Galactic Holdings Inc SPCE.N: up 8.9% BUZZ-Virgin Galactic gains altitude after co unveils new NASA partnership ** Intercept Pharmaceuticals Inc ICPT.O: up 12.2% ** NGM Biopharmaceuticals Inc NGM.O: up 8.4% BUZZ-Intercept, NGM rise on rival Novo's mixed NASH drug data
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.44%
Consumer Discretionary
.SPLRCD
up 0.49%
Consumer Staples
.SPLRCS
down 0.68%
Energy
.SPNY
down 1.73%
Financial
.SPSY
down 1.49%
Health
.SPXHC
up 0.18%
Industrial
.SPLRCI
down 0.65%
Information Technology
.SPLRCT
up 1.33%
Materials
.SPLRCM
down 0.93%
Real Estate
.SPLRCR
down 0.95%
Utilities
.SPLRCU
down 2.16%
(Compiled by Mrinalika Roy and Trisha Roy in Bengaluru)
((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** FLIR Systems Inc FLIR.O, up 9.9% ** Davita Inc DVA.N, up 7.1% ** Kla Corp KLAC.O, up 5.9% The top three S&P 500 .PL.INX percentage losers: ** Occidental Petroleum Corp OXY.N, down 9.2% ** Simon Property Group Inc SPG.N, down 7.7% ** Cincinnati Financial Corp CINF.O, down 7.7% The top NYSE .PG.N percentage gainer: ** Cars.Com Inc CARS.N, up 43.6% The top two NYSE .PL.N percentage losers: ** Nautilus Inc NLS.N, down 18.5% ** Bluegreen Vacations Corp BXG.N, down 16.7% The top three Nasdaq .PG.O percentage gainers: ** Macrogenics MGNX.O, up 259.7% ** Liveperson Inc LPSN.O, up 41.5% ** Axcla Health Inc AXLA.O, up 26.8% The top three Nasdaq .PL.O percentage losers: ** Wealthbridge Acquisition Ltd HHHH.O, down 25.4% ** Clensprk Inc CLSK.O, down 24.6% ** Inogen Inc INGN.O, down 20.2% ** Mesoblast Ltd MESO.O: up 7.3% BUZZ-Up after dosing first COVID-19 patients in U.S. study ** Office Depot Inc ODP.O: up 16.5% BUZZ-Jumps on strong results, withdraws 2020 guidance ** Mercadolibre Inc MELI.O: up 20.8% BUZZ-Jumps as online shoppers boost Q1 revenue ** General Motors Co GM.N: up 4.3% BUZZ-Jumps on Q1 beat; to resume U.S. production on May 18 ** Cars.com Inc CARS.N: up 43.6% BUZZ-Surges on strong Q1 results ** Bunge Ltd BG.N: down 13.4% BUZZ-Slips after swinging to Q1 loss, 2020 forecast cut ** Wendy's Co WEN.O: up 6.8% BUZZ-Jumps as co sees improving sales, breakfast success amid lockdown ** Clearwater Paper CLW.N: up 16.0% BUZZ-Rises after surprise profit on higher demand for tissues ** Venator Materials Plc VNTR.N: up 11.0% BUZZ-Rises on surprise Q1 profit, revenue beat ** Silk Road Medical Inc SILK.O: down 12.7% BUZZ-Falls on upsized secondary stock offering ** OneSpan Inc OSPN.O: up 13.0% BUZZ-Rises on profit beat, upbeat forecast ** LivePerson Inc LPSN.O: up 41.5% BUZZ-Gains on Q1 revenue beat, full-year outlook ** Activision Blizzard Inc ATVI.O: up 5.9% BUZZ-Jumps on strong outlook, Electronic Arts falls ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Street View: Virus takes bite out of Beyond Meat's growth ** CPS Technologies Corp CPSH.O: up 32.8% BUZZ-Set for best day in more than 10 years on higher earnings ** CVS Health Corp CVS.N: up 1.1% BUZZ-Gains as coronavirus-led stockpiling drives Q1 beat ** Wayfair Inc W.N: up 8.4% BUZZ-Brokerages hike PT on Q1 revenue beat ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 0.4% BUZZ-Drifts higher after upsized $2.2 bln recap ** Delphi Technologies Plc DLPH.N: up 16.1% BUZZ-Gains after BorgWarner reaffirms commitment to buy co ** Prudential Financial Inc PRU.N: down 6.9% BUZZ-Falls on dismal Q1 results ** DarioHealth Corp DRIO.O: up 9.5% BUZZ-Up after FDA approves use of glucose meters in hospitals ** Axcella Health Inc AXLA.O: up 26.8% BUZZ-Surges on positive results for liver disease drugs ** SmileDirectClub Inc SDC.O: up 10.8% BUZZ-Jumps on partnership with health insurer Anthem ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Reheats as results beat ** Nautilus Inc NLS.N: down 18.5% BUZZ-Sheds weight - stock plummets after Q1 results ** Everbridge Inc EVBG.O: up 21.1% BUZZ-Jumps on smaller-than-expected loss, upbeat forecast ** GrafTech International Ltd EAF.N: down 14.7% BUZZ-Slides on drop in sales, COVID-19 impact ** Merck & Co Inc MRK.N: up 0.2% ** Amgen Inc AMGN.O: up 1.0% ** Biogen Inc BIIB.O: up 2.2% ** AbbVie Inc ABBV.N: up 1.9% BUZZ-Pharma sector's pipeline quality improves, mixed impact of COVID-19 - Moody's ** Virgin Galactic Holdings Inc SPCE.N: up 8.9% BUZZ-Virgin Galactic gains altitude after co unveils new NASA partnership ** Intercept Pharmaceuticals Inc ICPT.O: up 12.2% ** NGM Biopharmaceuticals Inc NGM.O: up 8.4% BUZZ-Intercept, NGM rise on rival Novo's mixed NASH drug data The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and Nasdaq rose on Wednesday on hopes of a pickup in business activity as U.S. states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in U.S. private payrolls last month. down 2.16% (Compiled by Mrinalika Roy and Trisha Roy in Bengaluru) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** FLIR Systems Inc FLIR.O, up 9.9% ** Davita Inc DVA.N, up 7.1% ** Kla Corp KLAC.O, up 5.9% The top three S&P 500 .PL.INX percentage losers: ** Occidental Petroleum Corp OXY.N, down 9.2% ** Simon Property Group Inc SPG.N, down 7.7% ** Cincinnati Financial Corp CINF.O, down 7.7% The top NYSE .PG.N percentage gainer: ** Cars.Com Inc CARS.N, up 43.6% The top two NYSE .PL.N percentage losers: ** Nautilus Inc NLS.N, down 18.5% ** Bluegreen Vacations Corp BXG.N, down 16.7% The top three Nasdaq .PG.O percentage gainers: ** Macrogenics MGNX.O, up 259.7% ** Liveperson Inc LPSN.O, up 41.5% ** Axcla Health Inc AXLA.O, up 26.8% The top three Nasdaq .PL.O percentage losers: ** Wealthbridge Acquisition Ltd HHHH.O, down 25.4% ** Clensprk Inc CLSK.O, down 24.6% ** Inogen Inc INGN.O, down 20.2% ** Mesoblast Ltd MESO.O: up 7.3% BUZZ-Up after dosing first COVID-19 patients in U.S. study ** Office Depot Inc ODP.O: up 16.5% BUZZ-Jumps on strong results, withdraws 2020 guidance ** Mercadolibre Inc MELI.O: up 20.8% BUZZ-Jumps as online shoppers boost Q1 revenue ** General Motors Co GM.N: up 4.3% BUZZ-Jumps on Q1 beat; to resume U.S. production on May 18 ** Cars.com Inc CARS.N: up 43.6% BUZZ-Surges on strong Q1 results ** Bunge Ltd BG.N: down 13.4% BUZZ-Slips after swinging to Q1 loss, 2020 forecast cut ** Wendy's Co WEN.O: up 6.8% BUZZ-Jumps as co sees improving sales, breakfast success amid lockdown ** Clearwater Paper CLW.N: up 16.0% BUZZ-Rises after surprise profit on higher demand for tissues ** Venator Materials Plc VNTR.N: up 11.0% BUZZ-Rises on surprise Q1 profit, revenue beat ** Silk Road Medical Inc SILK.O: down 12.7% BUZZ-Falls on upsized secondary stock offering ** OneSpan Inc OSPN.O: up 13.0% BUZZ-Rises on profit beat, upbeat forecast ** LivePerson Inc LPSN.O: up 41.5% BUZZ-Gains on Q1 revenue beat, full-year outlook ** Activision Blizzard Inc ATVI.O: up 5.9% BUZZ-Jumps on strong outlook, Electronic Arts falls ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Street View: Virus takes bite out of Beyond Meat's growth ** CPS Technologies Corp CPSH.O: up 32.8% BUZZ-Set for best day in more than 10 years on higher earnings ** CVS Health Corp CVS.N: up 1.1% BUZZ-Gains as coronavirus-led stockpiling drives Q1 beat ** Wayfair Inc W.N: up 8.4% BUZZ-Brokerages hike PT on Q1 revenue beat ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 0.4% BUZZ-Drifts higher after upsized $2.2 bln recap ** Delphi Technologies Plc DLPH.N: up 16.1% BUZZ-Gains after BorgWarner reaffirms commitment to buy co ** Prudential Financial Inc PRU.N: down 6.9% BUZZ-Falls on dismal Q1 results ** DarioHealth Corp DRIO.O: up 9.5% BUZZ-Up after FDA approves use of glucose meters in hospitals ** Axcella Health Inc AXLA.O: up 26.8% BUZZ-Surges on positive results for liver disease drugs ** SmileDirectClub Inc SDC.O: up 10.8% BUZZ-Jumps on partnership with health insurer Anthem ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Reheats as results beat ** Nautilus Inc NLS.N: down 18.5% BUZZ-Sheds weight - stock plummets after Q1 results ** Everbridge Inc EVBG.O: up 21.1% BUZZ-Jumps on smaller-than-expected loss, upbeat forecast ** GrafTech International Ltd EAF.N: down 14.7% BUZZ-Slides on drop in sales, COVID-19 impact ** Merck & Co Inc MRK.N: up 0.2% ** Amgen Inc AMGN.O: up 1.0% ** Biogen Inc BIIB.O: up 2.2% ** AbbVie Inc ABBV.N: up 1.9% BUZZ-Pharma sector's pipeline quality improves, mixed impact of COVID-19 - Moody's ** Virgin Galactic Holdings Inc SPCE.N: up 8.9% BUZZ-Virgin Galactic gains altitude after co unveils new NASA partnership ** Intercept Pharmaceuticals Inc ICPT.O: up 12.2% ** NGM Biopharmaceuticals Inc NGM.O: up 8.4% BUZZ-Intercept, NGM rise on rival Novo's mixed NASH drug data The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and Nasdaq rose on Wednesday on hopes of a pickup in business activity as U.S. states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in U.S. private payrolls last month. down 2.16% (Compiled by Mrinalika Roy and Trisha Roy in Bengaluru) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** FLIR Systems Inc FLIR.O, up 9.9% ** Davita Inc DVA.N, up 7.1% ** Kla Corp KLAC.O, up 5.9% The top three S&P 500 .PL.INX percentage losers: ** Occidental Petroleum Corp OXY.N, down 9.2% ** Simon Property Group Inc SPG.N, down 7.7% ** Cincinnati Financial Corp CINF.O, down 7.7% The top NYSE .PG.N percentage gainer: ** Cars.Com Inc CARS.N, up 43.6% The top two NYSE .PL.N percentage losers: ** Nautilus Inc NLS.N, down 18.5% ** Bluegreen Vacations Corp BXG.N, down 16.7% The top three Nasdaq .PG.O percentage gainers: ** Macrogenics MGNX.O, up 259.7% ** Liveperson Inc LPSN.O, up 41.5% ** Axcla Health Inc AXLA.O, up 26.8% The top three Nasdaq .PL.O percentage losers: ** Wealthbridge Acquisition Ltd HHHH.O, down 25.4% ** Clensprk Inc CLSK.O, down 24.6% ** Inogen Inc INGN.O, down 20.2% ** Mesoblast Ltd MESO.O: up 7.3% BUZZ-Up after dosing first COVID-19 patients in U.S. study ** Office Depot Inc ODP.O: up 16.5% BUZZ-Jumps on strong results, withdraws 2020 guidance ** Mercadolibre Inc MELI.O: up 20.8% BUZZ-Jumps as online shoppers boost Q1 revenue ** General Motors Co GM.N: up 4.3% BUZZ-Jumps on Q1 beat; to resume U.S. production on May 18 ** Cars.com Inc CARS.N: up 43.6% BUZZ-Surges on strong Q1 results ** Bunge Ltd BG.N: down 13.4% BUZZ-Slips after swinging to Q1 loss, 2020 forecast cut ** Wendy's Co WEN.O: up 6.8% BUZZ-Jumps as co sees improving sales, breakfast success amid lockdown ** Clearwater Paper CLW.N: up 16.0% BUZZ-Rises after surprise profit on higher demand for tissues ** Venator Materials Plc VNTR.N: up 11.0% BUZZ-Rises on surprise Q1 profit, revenue beat ** Silk Road Medical Inc SILK.O: down 12.7% BUZZ-Falls on upsized secondary stock offering ** OneSpan Inc OSPN.O: up 13.0% BUZZ-Rises on profit beat, upbeat forecast ** LivePerson Inc LPSN.O: up 41.5% BUZZ-Gains on Q1 revenue beat, full-year outlook ** Activision Blizzard Inc ATVI.O: up 5.9% BUZZ-Jumps on strong outlook, Electronic Arts falls ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Street View: Virus takes bite out of Beyond Meat's growth ** CPS Technologies Corp CPSH.O: up 32.8% BUZZ-Set for best day in more than 10 years on higher earnings ** CVS Health Corp CVS.N: up 1.1% BUZZ-Gains as coronavirus-led stockpiling drives Q1 beat ** Wayfair Inc W.N: up 8.4% BUZZ-Brokerages hike PT on Q1 revenue beat ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 0.4% BUZZ-Drifts higher after upsized $2.2 bln recap ** Delphi Technologies Plc DLPH.N: up 16.1% BUZZ-Gains after BorgWarner reaffirms commitment to buy co ** Prudential Financial Inc PRU.N: down 6.9% BUZZ-Falls on dismal Q1 results ** DarioHealth Corp DRIO.O: up 9.5% BUZZ-Up after FDA approves use of glucose meters in hospitals ** Axcella Health Inc AXLA.O: up 26.8% BUZZ-Surges on positive results for liver disease drugs ** SmileDirectClub Inc SDC.O: up 10.8% BUZZ-Jumps on partnership with health insurer Anthem ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Reheats as results beat ** Nautilus Inc NLS.N: down 18.5% BUZZ-Sheds weight - stock plummets after Q1 results ** Everbridge Inc EVBG.O: up 21.1% BUZZ-Jumps on smaller-than-expected loss, upbeat forecast ** GrafTech International Ltd EAF.N: down 14.7% BUZZ-Slides on drop in sales, COVID-19 impact ** Merck & Co Inc MRK.N: up 0.2% ** Amgen Inc AMGN.O: up 1.0% ** Biogen Inc BIIB.O: up 2.2% ** AbbVie Inc ABBV.N: up 1.9% BUZZ-Pharma sector's pipeline quality improves, mixed impact of COVID-19 - Moody's ** Virgin Galactic Holdings Inc SPCE.N: up 8.9% BUZZ-Virgin Galactic gains altitude after co unveils new NASA partnership ** Intercept Pharmaceuticals Inc ICPT.O: up 12.2% ** NGM Biopharmaceuticals Inc NGM.O: up 8.4% BUZZ-Intercept, NGM rise on rival Novo's mixed NASH drug data The 11 major S&P 500 sectors: Communication Services .N At 13:09 ET, the Dow Jones Industrial Average .DJI was down 0.09% at 23,861.94. up 0.44% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** FLIR Systems Inc FLIR.O, up 9.9% ** Davita Inc DVA.N, up 7.1% ** Kla Corp KLAC.O, up 5.9% The top three S&P 500 .PL.INX percentage losers: ** Occidental Petroleum Corp OXY.N, down 9.2% ** Simon Property Group Inc SPG.N, down 7.7% ** Cincinnati Financial Corp CINF.O, down 7.7% The top NYSE .PG.N percentage gainer: ** Cars.Com Inc CARS.N, up 43.6% The top two NYSE .PL.N percentage losers: ** Nautilus Inc NLS.N, down 18.5% ** Bluegreen Vacations Corp BXG.N, down 16.7% The top three Nasdaq .PG.O percentage gainers: ** Macrogenics MGNX.O, up 259.7% ** Liveperson Inc LPSN.O, up 41.5% ** Axcla Health Inc AXLA.O, up 26.8% The top three Nasdaq .PL.O percentage losers: ** Wealthbridge Acquisition Ltd HHHH.O, down 25.4% ** Clensprk Inc CLSK.O, down 24.6% ** Inogen Inc INGN.O, down 20.2% ** Mesoblast Ltd MESO.O: up 7.3% BUZZ-Up after dosing first COVID-19 patients in U.S. study ** Office Depot Inc ODP.O: up 16.5% BUZZ-Jumps on strong results, withdraws 2020 guidance ** Mercadolibre Inc MELI.O: up 20.8% BUZZ-Jumps as online shoppers boost Q1 revenue ** General Motors Co GM.N: up 4.3% BUZZ-Jumps on Q1 beat; to resume U.S. production on May 18 ** Cars.com Inc CARS.N: up 43.6% BUZZ-Surges on strong Q1 results ** Bunge Ltd BG.N: down 13.4% BUZZ-Slips after swinging to Q1 loss, 2020 forecast cut ** Wendy's Co WEN.O: up 6.8% BUZZ-Jumps as co sees improving sales, breakfast success amid lockdown ** Clearwater Paper CLW.N: up 16.0% BUZZ-Rises after surprise profit on higher demand for tissues ** Venator Materials Plc VNTR.N: up 11.0% BUZZ-Rises on surprise Q1 profit, revenue beat ** Silk Road Medical Inc SILK.O: down 12.7% BUZZ-Falls on upsized secondary stock offering ** OneSpan Inc OSPN.O: up 13.0% BUZZ-Rises on profit beat, upbeat forecast ** LivePerson Inc LPSN.O: up 41.5% BUZZ-Gains on Q1 revenue beat, full-year outlook ** Activision Blizzard Inc ATVI.O: up 5.9% BUZZ-Jumps on strong outlook, Electronic Arts falls ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Street View: Virus takes bite out of Beyond Meat's growth ** CPS Technologies Corp CPSH.O: up 32.8% BUZZ-Set for best day in more than 10 years on higher earnings ** CVS Health Corp CVS.N: up 1.1% BUZZ-Gains as coronavirus-led stockpiling drives Q1 beat ** Wayfair Inc W.N: up 8.4% BUZZ-Brokerages hike PT on Q1 revenue beat ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 0.4% BUZZ-Drifts higher after upsized $2.2 bln recap ** Delphi Technologies Plc DLPH.N: up 16.1% BUZZ-Gains after BorgWarner reaffirms commitment to buy co ** Prudential Financial Inc PRU.N: down 6.9% BUZZ-Falls on dismal Q1 results ** DarioHealth Corp DRIO.O: up 9.5% BUZZ-Up after FDA approves use of glucose meters in hospitals ** Axcella Health Inc AXLA.O: up 26.8% BUZZ-Surges on positive results for liver disease drugs ** SmileDirectClub Inc SDC.O: up 10.8% BUZZ-Jumps on partnership with health insurer Anthem ** Beyond Meat Inc BYND.O: up 24.3% BUZZ-Reheats as results beat ** Nautilus Inc NLS.N: down 18.5% BUZZ-Sheds weight - stock plummets after Q1 results ** Everbridge Inc EVBG.O: up 21.1% BUZZ-Jumps on smaller-than-expected loss, upbeat forecast ** GrafTech International Ltd EAF.N: down 14.7% BUZZ-Slides on drop in sales, COVID-19 impact ** Merck & Co Inc MRK.N: up 0.2% ** Amgen Inc AMGN.O: up 1.0% ** Biogen Inc BIIB.O: up 2.2% ** AbbVie Inc ABBV.N: up 1.9% BUZZ-Pharma sector's pipeline quality improves, mixed impact of COVID-19 - Moody's ** Virgin Galactic Holdings Inc SPCE.N: up 8.9% BUZZ-Virgin Galactic gains altitude after co unveils new NASA partnership ** Intercept Pharmaceuticals Inc ICPT.O: up 12.2% ** NGM Biopharmaceuticals Inc NGM.O: up 8.4% BUZZ-Intercept, NGM rise on rival Novo's mixed NASH drug data The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and Nasdaq rose on Wednesday on hopes of a pickup in business activity as U.S. states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in U.S. private payrolls last month. .N At 13:09 ET, the Dow Jones Industrial Average .DJI was down 0.09% at 23,861.94. |
24576.0 | 2020-05-06 00:00:00 UTC | Salesforce.com To Replace Allergan In S&P100 | ABBV | https://www.nasdaq.com/articles/salesforce.com-to-replace-allergan-in-sp100-2020-05-06 | nan | nan | (RTTNews) - S&P Dow Jones Indices said that S&P 500 constituent Salesforce.com (CRM) will replace Allergan in the S&P 100. DexCom Inc. (DXCM) will replace Allergan plc (AGN) in the S&P 500.
S&P 500 and 100 constituent AbbVie Inc. (ABBV) is acquiring Allergan in a transaction expected to be completed soon pending final conditions.
S&P MidCap 400 constituent Domino's Pizza Inc. (DPZ) will replace Capri Holdings Ltd. (CPRI) in the S&P 500, STORE Capital Corp. (STOR) will replace Domino's Pizza in the S&P MidCap 400, and Capri Holdings will replace Acorda Therapeutics Inc. (ACOR) in the S&P SmallCap 600.
S&P Dow Jones Indices will make the changes effective prior to the opening on Tuesday, May 12.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | S&P 500 and 100 constituent AbbVie Inc. (ABBV) is acquiring Allergan in a transaction expected to be completed soon pending final conditions. (RTTNews) - S&P Dow Jones Indices said that S&P 500 constituent Salesforce.com (CRM) will replace Allergan in the S&P 100. S&P Dow Jones Indices will make the changes effective prior to the opening on Tuesday, May 12. | S&P 500 and 100 constituent AbbVie Inc. (ABBV) is acquiring Allergan in a transaction expected to be completed soon pending final conditions. (RTTNews) - S&P Dow Jones Indices said that S&P 500 constituent Salesforce.com (CRM) will replace Allergan in the S&P 100. S&P MidCap 400 constituent Domino's Pizza Inc. (DPZ) will replace Capri Holdings Ltd. (CPRI) in the S&P 500, STORE Capital Corp. (STOR) will replace Domino's Pizza in the S&P MidCap 400, and Capri Holdings will replace Acorda Therapeutics Inc. (ACOR) in the S&P SmallCap 600. | S&P 500 and 100 constituent AbbVie Inc. (ABBV) is acquiring Allergan in a transaction expected to be completed soon pending final conditions. (RTTNews) - S&P Dow Jones Indices said that S&P 500 constituent Salesforce.com (CRM) will replace Allergan in the S&P 100. S&P MidCap 400 constituent Domino's Pizza Inc. (DPZ) will replace Capri Holdings Ltd. (CPRI) in the S&P 500, STORE Capital Corp. (STOR) will replace Domino's Pizza in the S&P MidCap 400, and Capri Holdings will replace Acorda Therapeutics Inc. (ACOR) in the S&P SmallCap 600. | S&P 500 and 100 constituent AbbVie Inc. (ABBV) is acquiring Allergan in a transaction expected to be completed soon pending final conditions. (RTTNews) - S&P Dow Jones Indices said that S&P 500 constituent Salesforce.com (CRM) will replace Allergan in the S&P 100. DexCom Inc. (DXCM) will replace Allergan plc (AGN) in the S&P 500. |
24577.0 | 2020-05-05 00:00:00 UTC | AbbVie wins U.S. antitrust approval to buy Allergan | ABBV | https://www.nasdaq.com/articles/abbvie-wins-u.s.-antitrust-approval-to-buy-allergan-2020-05-05-0 | nan | nan | Adds details on deal, asset sales
WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie Inc ABBV.N has won U.S. antitrust approval to buy Botox maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies said on Tuesday.
AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection in 2023.
A four-week supply of Humira, the world's best-selling medicine, has a list price of about $5,174 or more than $60,000 for a year. Its sales were $4.70 billion for the most recent quarter despite declines outside the United States, where it has begun facing competition from cheaper biosimilar versions.
The combined AbbVie and Allergan will be based in AbbVie's home of North Chicago.
Allergan, formerly based in California, itself was part of a tax "inversion" deal, after European generic drugmaker Actavis bought it for $66 billion in 2015 and adopted the company's name, moving its headquarters to Dublin.
To win approval from the Federal Trade Commission, the companies said they agreed to divest brazikumab, a drug in development to treat autoimmune diseases, to AstraZeneca AZN.L
In addition, Swiss food giant Nestle NESN.S agreed to buy Allergan's Zenpep, a product for people whose pancreases do not provide enough enzymes to properly digest fats, proteins and sugars, often because of cystic fibrosis. Zenpep had sales of $237 million in 2018. Nestle will also buy Viokace, another pancreatic enzyme preparation.
The deal was approved by the European Union in January on condition that brazikumab be sold.
(Reporting by Diane Bartz; Editing by Chris Reese and Peter Cooney)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details on deal, asset sales WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie Inc ABBV.N has won U.S. antitrust approval to buy Botox maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies said on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection in 2023. The combined AbbVie and Allergan will be based in AbbVie's home of North Chicago. | Adds details on deal, asset sales WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie Inc ABBV.N has won U.S. antitrust approval to buy Botox maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies said on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection in 2023. The combined AbbVie and Allergan will be based in AbbVie's home of North Chicago. | Adds details on deal, asset sales WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie Inc ABBV.N has won U.S. antitrust approval to buy Botox maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies said on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection in 2023. The combined AbbVie and Allergan will be based in AbbVie's home of North Chicago. | Adds details on deal, asset sales WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie Inc ABBV.N has won U.S. antitrust approval to buy Botox maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies said on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection in 2023. The combined AbbVie and Allergan will be based in AbbVie's home of North Chicago. |
24578.0 | 2020-05-05 00:00:00 UTC | AbbVie wins U.S. antitrust approval to buy Allergan | ABBV | https://www.nasdaq.com/articles/abbvie-wins-u.s.-antitrust-approval-to-buy-allergan-2020-05-05 | nan | nan | WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie ABBV.N has won U.S. antitrust approval to buy Botox-maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies announced on Tuesday.
To win the approval from the Federal Trade Commission, the companies said they agreed to divest brazikumab, a drug in development to treat autoimmune diseases, and Zenpep, a treatment for pancreatic problems often caused by cystic fibrosis.
AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection.
(Reporting by Diane Bartz Editing by Chris Reese)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie ABBV.N has won U.S. antitrust approval to buy Botox-maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies announced on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection. To win the approval from the Federal Trade Commission, the companies said they agreed to divest brazikumab, a drug in development to treat autoimmune diseases, and Zenpep, a treatment for pancreatic problems often caused by cystic fibrosis. | WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie ABBV.N has won U.S. antitrust approval to buy Botox-maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies announced on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection. (Reporting by Diane Bartz Editing by Chris Reese) ((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie ABBV.N has won U.S. antitrust approval to buy Botox-maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies announced on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection. (Reporting by Diane Bartz Editing by Chris Reese) ((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie ABBV.N has won U.S. antitrust approval to buy Botox-maker Allergan AGN.N, a blockbuster $63 billion deal when it was announced last year, the companies announced on Tuesday. AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection. To win the approval from the Federal Trade Commission, the companies said they agreed to divest brazikumab, a drug in development to treat autoimmune diseases, and Zenpep, a treatment for pancreatic problems often caused by cystic fibrosis. |
24579.0 | 2020-05-04 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Airlines, banks, oil stocks, Co-Diagnostics | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-airlines-banks-oil-stocks-co-diagnostics-2020-05-04 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock index futures retreated on Monday after a fresh spat between Washington and Beijing over the origin of the novel coronavirus, while airlines slumped as Berkshire Hathaway dumped its holdings in the sector. .N
At 7:46 ET, Dow e-minis 1YMc1 were down 1.04% at 23,373. S&P 500 e-minis ESc1 were down 0.76% at 2,800.25, while Nasdaq 100 e-minis NQc1 were down 0.73% at 8,654. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Quintana Energy Services Inc QES.N, up 15.7% ** ASE Technology Holding Co Ltd ASX.N, up 11.5% ** Pennsylvania Real Estate Investment Trust PEI.N, up 8.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Flagstar Bancorp Inc FBC.N, down 13.5% ** TETRA Technologies Inc TTI.N, down 10.9% ** AMC Entertainment Holdings Inc AMC.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Stemline Therapeutics Inc STML.O, up 148.6% ** Netscout Systems Inc NTCT.O, up 132.1% ** Microvision Inc MVIS.O, up 90.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Tristate Capital Holdings Inc TSC.O, down 28.6% ** Company name not found MDGS.O, down 19.7% ** Francesca's Holdings Corp FRAN.O, down 16.6% ** Boeing BA.N: down 4.5% premarket BUZZ-Aerospace & Defence: Berenberg does not see through to a new normal ** Exxon Mobil Corp XOM.N: down 2.3% premarket ** Chevron Corp CVX.N: down 3.0% premarket BUZZ-Street View: Exxon is taking the correct, patient approach BUZZ-Street View: Chevron's cash flow to help co weather near-term headwinds ** Teladoc Health Inc TDOC.N: up 2.3% premarket BUZZ-Creating patient awareness biggest challenge for telemedicine - GlobalData ** KLX Energy Services Holdings Inc KLXE.O: up 41.7% premarket ** Quintana Energy Services QES.N: up 15.7% premarket BUZZ-KLX Energy: Jumps on merger deal with Quintana Energy Services ** Goldman Sachs Group Inc GS.N: down 1.3% premarket ** JPMorgan Chase & Co JPM.N: down 2.0% premarket ** Citi C.N: down 2.7% premarket ** Wells Fargo WFC.N: down 2.4% premarket ** Bank of America BAC.N: down 2.3% premarket ** Morgan Stanley MS.N: down 2.0% premarket BUZZ-Big banks fall as Treasury yields drop amid risk-off mood ** Delta Air Lines DAL.N: down 10.0% premarket ** American Airlines Co AAL.O: down 10.5% premarket ** Southwest Airlines Co LUV.N: down 8.7% premarket ** United Airlines UAL.O: down 10.6% premarket ** Spirit Airlines SAVE.N: down 8.4% premarket ** JetBlue JBLU.O: down 9.6% premarket ** Alaska Air ALK.N: down 8.8% premarket BUZZ-Airline stocks plunge after Buffett dumps stakes ** AbbVie Inc ABBV.N: down 0.4% premarket ** Allergan Plc AGN.N: down 2.4% premarket BUZZ-Street View: Humira, Skyrizi strength drive AbbVie results as usual ** Co-Diagnostics CODX.O: up 7.6% premarket BUZZ-Co-Diagnostics: Jumps on approvals for COVID-19 tests in Mexico, India ** Canopy Growth Corp CGC.N: up 7.1% premarket BUZZ-Pot producer Canopy Growth climbs as Constellation Brands ups stake
(Compiled by Trisha Roy in Bengaluru)
((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Quintana Energy Services Inc QES.N, up 15.7% ** ASE Technology Holding Co Ltd ASX.N, up 11.5% ** Pennsylvania Real Estate Investment Trust PEI.N, up 8.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Flagstar Bancorp Inc FBC.N, down 13.5% ** TETRA Technologies Inc TTI.N, down 10.9% ** AMC Entertainment Holdings Inc AMC.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Stemline Therapeutics Inc STML.O, up 148.6% ** Netscout Systems Inc NTCT.O, up 132.1% ** Microvision Inc MVIS.O, up 90.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Tristate Capital Holdings Inc TSC.O, down 28.6% ** Company name not found MDGS.O, down 19.7% ** Francesca's Holdings Corp FRAN.O, down 16.6% ** Boeing BA.N: down 4.5% premarket BUZZ-Aerospace & Defence: Berenberg does not see through to a new normal ** Exxon Mobil Corp XOM.N: down 2.3% premarket ** Chevron Corp CVX.N: down 3.0% premarket BUZZ-Street View: Exxon is taking the correct, patient approach BUZZ-Street View: Chevron's cash flow to help co weather near-term headwinds ** Teladoc Health Inc TDOC.N: up 2.3% premarket BUZZ-Creating patient awareness biggest challenge for telemedicine - GlobalData ** KLX Energy Services Holdings Inc KLXE.O: up 41.7% premarket ** Quintana Energy Services QES.N: up 15.7% premarket BUZZ-KLX Energy: Jumps on merger deal with Quintana Energy Services ** Goldman Sachs Group Inc GS.N: down 1.3% premarket ** JPMorgan Chase & Co JPM.N: down 2.0% premarket ** Citi C.N: down 2.7% premarket ** Wells Fargo WFC.N: down 2.4% premarket ** Bank of America BAC.N: down 2.3% premarket ** Morgan Stanley MS.N: down 2.0% premarket BUZZ-Big banks fall as Treasury yields drop amid risk-off mood ** Delta Air Lines DAL.N: down 10.0% premarket ** American Airlines Co AAL.O: down 10.5% premarket ** Southwest Airlines Co LUV.N: down 8.7% premarket ** United Airlines UAL.O: down 10.6% premarket ** Spirit Airlines SAVE.N: down 8.4% premarket ** JetBlue JBLU.O: down 9.6% premarket ** Alaska Air ALK.N: down 8.8% premarket BUZZ-Airline stocks plunge after Buffett dumps stakes ** AbbVie Inc ABBV.N: down 0.4% premarket ** Allergan Plc AGN.N: down 2.4% premarket BUZZ-Street View: Humira, Skyrizi strength drive AbbVie results as usual ** Co-Diagnostics CODX.O: up 7.6% premarket BUZZ-Co-Diagnostics: Jumps on approvals for COVID-19 tests in Mexico, India ** Canopy Growth Corp CGC.N: up 7.1% premarket BUZZ-Pot producer Canopy Growth climbs as Constellation Brands ups stake (Compiled by Trisha Roy in Bengaluru) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures retreated on Monday after a fresh spat between Washington and Beijing over the origin of the novel coronavirus, while airlines slumped as Berkshire Hathaway dumped its holdings in the sector. .N At 7:46 ET, Dow e-minis 1YMc1 were down 1.04% at 23,373. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Quintana Energy Services Inc QES.N, up 15.7% ** ASE Technology Holding Co Ltd ASX.N, up 11.5% ** Pennsylvania Real Estate Investment Trust PEI.N, up 8.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Flagstar Bancorp Inc FBC.N, down 13.5% ** TETRA Technologies Inc TTI.N, down 10.9% ** AMC Entertainment Holdings Inc AMC.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Stemline Therapeutics Inc STML.O, up 148.6% ** Netscout Systems Inc NTCT.O, up 132.1% ** Microvision Inc MVIS.O, up 90.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Tristate Capital Holdings Inc TSC.O, down 28.6% ** Company name not found MDGS.O, down 19.7% ** Francesca's Holdings Corp FRAN.O, down 16.6% ** Boeing BA.N: down 4.5% premarket BUZZ-Aerospace & Defence: Berenberg does not see through to a new normal ** Exxon Mobil Corp XOM.N: down 2.3% premarket ** Chevron Corp CVX.N: down 3.0% premarket BUZZ-Street View: Exxon is taking the correct, patient approach BUZZ-Street View: Chevron's cash flow to help co weather near-term headwinds ** Teladoc Health Inc TDOC.N: up 2.3% premarket BUZZ-Creating patient awareness biggest challenge for telemedicine - GlobalData ** KLX Energy Services Holdings Inc KLXE.O: up 41.7% premarket ** Quintana Energy Services QES.N: up 15.7% premarket BUZZ-KLX Energy: Jumps on merger deal with Quintana Energy Services ** Goldman Sachs Group Inc GS.N: down 1.3% premarket ** JPMorgan Chase & Co JPM.N: down 2.0% premarket ** Citi C.N: down 2.7% premarket ** Wells Fargo WFC.N: down 2.4% premarket ** Bank of America BAC.N: down 2.3% premarket ** Morgan Stanley MS.N: down 2.0% premarket BUZZ-Big banks fall as Treasury yields drop amid risk-off mood ** Delta Air Lines DAL.N: down 10.0% premarket ** American Airlines Co AAL.O: down 10.5% premarket ** Southwest Airlines Co LUV.N: down 8.7% premarket ** United Airlines UAL.O: down 10.6% premarket ** Spirit Airlines SAVE.N: down 8.4% premarket ** JetBlue JBLU.O: down 9.6% premarket ** Alaska Air ALK.N: down 8.8% premarket BUZZ-Airline stocks plunge after Buffett dumps stakes ** AbbVie Inc ABBV.N: down 0.4% premarket ** Allergan Plc AGN.N: down 2.4% premarket BUZZ-Street View: Humira, Skyrizi strength drive AbbVie results as usual ** Co-Diagnostics CODX.O: up 7.6% premarket BUZZ-Co-Diagnostics: Jumps on approvals for COVID-19 tests in Mexico, India ** Canopy Growth Corp CGC.N: up 7.1% premarket BUZZ-Pot producer Canopy Growth climbs as Constellation Brands ups stake (Compiled by Trisha Roy in Bengaluru) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures retreated on Monday after a fresh spat between Washington and Beijing over the origin of the novel coronavirus, while airlines slumped as Berkshire Hathaway dumped its holdings in the sector. S&P 500 e-minis ESc1 were down 0.76% at 2,800.25, while Nasdaq 100 e-minis NQc1 were down 0.73% at 8,654. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Quintana Energy Services Inc QES.N, up 15.7% ** ASE Technology Holding Co Ltd ASX.N, up 11.5% ** Pennsylvania Real Estate Investment Trust PEI.N, up 8.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Flagstar Bancorp Inc FBC.N, down 13.5% ** TETRA Technologies Inc TTI.N, down 10.9% ** AMC Entertainment Holdings Inc AMC.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Stemline Therapeutics Inc STML.O, up 148.6% ** Netscout Systems Inc NTCT.O, up 132.1% ** Microvision Inc MVIS.O, up 90.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Tristate Capital Holdings Inc TSC.O, down 28.6% ** Company name not found MDGS.O, down 19.7% ** Francesca's Holdings Corp FRAN.O, down 16.6% ** Boeing BA.N: down 4.5% premarket BUZZ-Aerospace & Defence: Berenberg does not see through to a new normal ** Exxon Mobil Corp XOM.N: down 2.3% premarket ** Chevron Corp CVX.N: down 3.0% premarket BUZZ-Street View: Exxon is taking the correct, patient approach BUZZ-Street View: Chevron's cash flow to help co weather near-term headwinds ** Teladoc Health Inc TDOC.N: up 2.3% premarket BUZZ-Creating patient awareness biggest challenge for telemedicine - GlobalData ** KLX Energy Services Holdings Inc KLXE.O: up 41.7% premarket ** Quintana Energy Services QES.N: up 15.7% premarket BUZZ-KLX Energy: Jumps on merger deal with Quintana Energy Services ** Goldman Sachs Group Inc GS.N: down 1.3% premarket ** JPMorgan Chase & Co JPM.N: down 2.0% premarket ** Citi C.N: down 2.7% premarket ** Wells Fargo WFC.N: down 2.4% premarket ** Bank of America BAC.N: down 2.3% premarket ** Morgan Stanley MS.N: down 2.0% premarket BUZZ-Big banks fall as Treasury yields drop amid risk-off mood ** Delta Air Lines DAL.N: down 10.0% premarket ** American Airlines Co AAL.O: down 10.5% premarket ** Southwest Airlines Co LUV.N: down 8.7% premarket ** United Airlines UAL.O: down 10.6% premarket ** Spirit Airlines SAVE.N: down 8.4% premarket ** JetBlue JBLU.O: down 9.6% premarket ** Alaska Air ALK.N: down 8.8% premarket BUZZ-Airline stocks plunge after Buffett dumps stakes ** AbbVie Inc ABBV.N: down 0.4% premarket ** Allergan Plc AGN.N: down 2.4% premarket BUZZ-Street View: Humira, Skyrizi strength drive AbbVie results as usual ** Co-Diagnostics CODX.O: up 7.6% premarket BUZZ-Co-Diagnostics: Jumps on approvals for COVID-19 tests in Mexico, India ** Canopy Growth Corp CGC.N: up 7.1% premarket BUZZ-Pot producer Canopy Growth climbs as Constellation Brands ups stake (Compiled by Trisha Roy in Bengaluru) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. .N At 7:46 ET, Dow e-minis 1YMc1 were down 1.04% at 23,373. S&P 500 e-minis ESc1 were down 0.76% at 2,800.25, while Nasdaq 100 e-minis NQc1 were down 0.73% at 8,654. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Quintana Energy Services Inc QES.N, up 15.7% ** ASE Technology Holding Co Ltd ASX.N, up 11.5% ** Pennsylvania Real Estate Investment Trust PEI.N, up 8.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Flagstar Bancorp Inc FBC.N, down 13.5% ** TETRA Technologies Inc TTI.N, down 10.9% ** AMC Entertainment Holdings Inc AMC.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Stemline Therapeutics Inc STML.O, up 148.6% ** Netscout Systems Inc NTCT.O, up 132.1% ** Microvision Inc MVIS.O, up 90.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Tristate Capital Holdings Inc TSC.O, down 28.6% ** Company name not found MDGS.O, down 19.7% ** Francesca's Holdings Corp FRAN.O, down 16.6% ** Boeing BA.N: down 4.5% premarket BUZZ-Aerospace & Defence: Berenberg does not see through to a new normal ** Exxon Mobil Corp XOM.N: down 2.3% premarket ** Chevron Corp CVX.N: down 3.0% premarket BUZZ-Street View: Exxon is taking the correct, patient approach BUZZ-Street View: Chevron's cash flow to help co weather near-term headwinds ** Teladoc Health Inc TDOC.N: up 2.3% premarket BUZZ-Creating patient awareness biggest challenge for telemedicine - GlobalData ** KLX Energy Services Holdings Inc KLXE.O: up 41.7% premarket ** Quintana Energy Services QES.N: up 15.7% premarket BUZZ-KLX Energy: Jumps on merger deal with Quintana Energy Services ** Goldman Sachs Group Inc GS.N: down 1.3% premarket ** JPMorgan Chase & Co JPM.N: down 2.0% premarket ** Citi C.N: down 2.7% premarket ** Wells Fargo WFC.N: down 2.4% premarket ** Bank of America BAC.N: down 2.3% premarket ** Morgan Stanley MS.N: down 2.0% premarket BUZZ-Big banks fall as Treasury yields drop amid risk-off mood ** Delta Air Lines DAL.N: down 10.0% premarket ** American Airlines Co AAL.O: down 10.5% premarket ** Southwest Airlines Co LUV.N: down 8.7% premarket ** United Airlines UAL.O: down 10.6% premarket ** Spirit Airlines SAVE.N: down 8.4% premarket ** JetBlue JBLU.O: down 9.6% premarket ** Alaska Air ALK.N: down 8.8% premarket BUZZ-Airline stocks plunge after Buffett dumps stakes ** AbbVie Inc ABBV.N: down 0.4% premarket ** Allergan Plc AGN.N: down 2.4% premarket BUZZ-Street View: Humira, Skyrizi strength drive AbbVie results as usual ** Co-Diagnostics CODX.O: up 7.6% premarket BUZZ-Co-Diagnostics: Jumps on approvals for COVID-19 tests in Mexico, India ** Canopy Growth Corp CGC.N: up 7.1% premarket BUZZ-Pot producer Canopy Growth climbs as Constellation Brands ups stake (Compiled by Trisha Roy in Bengaluru) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures retreated on Monday after a fresh spat between Washington and Beijing over the origin of the novel coronavirus, while airlines slumped as Berkshire Hathaway dumped its holdings in the sector. .N At 7:46 ET, Dow e-minis 1YMc1 were down 1.04% at 23,373. |
24580.0 | 2020-05-02 00:00:00 UTC | The 3 Most Important Things to Know About AbbVie's Q1 Update | ABBV | https://www.nasdaq.com/articles/the-3-most-important-things-to-know-about-abbvies-q1-update-2020-05-02 | nan | nan | AbbVie's (NYSE: ABBV) share price has been hit pretty hard this year by the COVID-19 pandemic. But its underlying business hasn't.
The big drugmaker announced its first-quarter results before the market opened on Friday. AbbVie easily beat Wall Street's revenue and earnings estimates, delivering strong year-over-year growth on its top and bottom lines. The company also maintained its full-year 2020 adjusted earnings outlook, projecting 8.1% year-over-year growth at the midpoint of its guidance range.
All of these items are significant. But here are the three most important things to know about AbbVie's Q1 update.
Image source: Getty Images.
1. Humira is still humming along
When Humira first began to face biosimilar competition in Europe, some might have thought the end was nigh for the world's best-selling drug. International sales for Humira plummeted throughout 2019. And international sales for the immunology drug continued to fall in the first quarter of 2020, down 14.9% year over year.
But the big picture for Humira continues to look pretty good. AbbVie reported total Q1 sales for the drug of $4.7 billion, up 5.8% year over year. This growth amounted to an extra $257 million for the company.
Although Humira continues to struggle in international markets, it's performing really well in the U.S. with sales jumping 13.7% year over year to nearly $3.7 billion. To be sure, it's only a matter of time before Humira's U.S. sales begin to sink. The drug faces biosimilar competition in the U.S. beginning in 2023. However, the longer Humira still hums along, the more time AbbVie has to get its post-Humira strategy fully into place.
2. Key drugs of the future gaining momentum
That leads to the second important thing to know about AbbVie's Q1 update. The key drugs that are critical to the company's post-Humira future are gaining solid momentum.
First-quarter sales for AbbVie's blood cancer franchise soared 32.1% year over year. Imbruvica generated sales of $1.2 billion, a 20.6% increase over the prior-year period total. Venclexta is on track to reach blockbuster status with sales more than doubling in Q1 to $317 million.
Another blockbuster-to-be, immunology drug Skyrizi, raked in sales of $300 million after winning FDA approval in April 2019. Rinvoq, which was approved by the FDA in August 2019 for treating rheumatoid arthritis, made $86 million in Q1, up from $47 million in the previous quarter.
3. Allergan closing imminent
There's another component to AbbVie's plan for coping with the coming loss of exclusivity for Humira in the U.S. that's also critical -- the company's acquisition of Allergan (NYSE: AGN). AbbVie confirmed that it expects to close the transaction this month.
The company had already announced in March that it received final approval for the acquisition in Europe and that it had entered into a consent agreement with the U.S. Federal Trade Commission (FTC). The only news in AbbVie's Q1 update was that this consent decree was still subject to additional review and approval by the FTC's commissioners. However, AbbVie doesn't anticipate any roadblocks.
Assuming all goes as planned, AbbVie's next quarterly update will include sales from Allergan's blockbuster Botox franchise, fast-rising star Vraylar, and more. Humira will still be a major contributor to AbbVie, but after the second quarter, the immunology drug will no longer generate more than half of the company's total revenue.
What about COVID-19?
With the COVID-19 pandemic wreaking havoc on the financial results for many companies, you might have expected that it would be one of the biggest stories in AbbVie's Q1 update. But it wasn't.
AbbVie actually benefited from the pandemic in Q1. The company stated that its revenue increased by 240 basis points because of stocking up related to the COVID-19 outbreak.
It just might benefit even more in the future. The drugmaker is evaluating Imbruvica in a phase 2 clinical study in treating COVID-19 patients. AbbVie is also working with global health authorities to determine if HIV drug Kaletra could be effective in treating COVID-19.
The big pharma stock could still be affected in the future to some extent by the pandemic, though. AbbVie acknowledged that there are uncertainties related to the COVID-19 outbreak. The company is assuming that stay-at-home orders will be gradually lifted beginning in May and that business will largely return to normal over the next few months for physicians' offices and hospitals. If those assumptions don't pan out, COVID-19 could be a much more important factor in AbbVie's quarterly updates later this year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie easily beat Wall Street's revenue and earnings estimates, delivering strong year-over-year growth on its top and bottom lines. AbbVie's (NYSE: ABBV) share price has been hit pretty hard this year by the COVID-19 pandemic. But here are the three most important things to know about AbbVie's Q1 update. | Assuming all goes as planned, AbbVie's next quarterly update will include sales from Allergan's blockbuster Botox franchise, fast-rising star Vraylar, and more. AbbVie's (NYSE: ABBV) share price has been hit pretty hard this year by the COVID-19 pandemic. AbbVie easily beat Wall Street's revenue and earnings estimates, delivering strong year-over-year growth on its top and bottom lines. | AbbVie reported total Q1 sales for the drug of $4.7 billion, up 5.8% year over year. First-quarter sales for AbbVie's blood cancer franchise soared 32.1% year over year. Humira will still be a major contributor to AbbVie, but after the second quarter, the immunology drug will no longer generate more than half of the company's total revenue. | If those assumptions don't pan out, COVID-19 could be a much more important factor in AbbVie's quarterly updates later this year. AbbVie's (NYSE: ABBV) share price has been hit pretty hard this year by the COVID-19 pandemic. AbbVie easily beat Wall Street's revenue and earnings estimates, delivering strong year-over-year growth on its top and bottom lines. |
24581.0 | 2020-05-01 00:00:00 UTC | Health Care Sector Update for 05/01/2020: HRC, SEM, ABBV, XLV, IBB | ABBV | https://www.nasdaq.com/articles/health-care-sector-update-for-05-01-2020%3A-hrc-sem-abbv-xlv-ibb-2020-05-01 | nan | nan | Health care stocks were retreating pre-bell Friday, with both the Health Care SPDR (XLV) and the iShares NASDAQ Biotechnology Index (IBB) down more than 1%.
Hill-Rom Holdings Inc (HRC) was declining more than 6% as it reported a Q2 fiscal 2020 adjusted diluted EPS of $1.28, compared with $1.14 during the year-ago quarter. Analysts polled by Capital IQ had previously expected EPS of $1.15.
Select Medical Holdings (SEM) was down more than 12% after it posted a Q1 adjusted EPS of $0.37, up from $0.27 a year earlier. Net operating revenue was $1.41 billion, compared with $1.32 billion in the same quarter last year. Analysts polled by Capital IQ had projected EPS of $0.32 and revenue of $1.36 billion for the quarter.
AbbVie (ABBV) was slightly lower as it reported Q1 adjusted diluted earnings of $2.42 per share, up from $2.14 per share a year ago. Net revenue rose to $8.62 billion from $7.83 billion a year ago, according to a statement. The average estimates from analysts polled by Capital IQ were $2.25 per share and $8.31 billion, respectively.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) was slightly lower as it reported Q1 adjusted diluted earnings of $2.42 per share, up from $2.14 per share a year ago. Hill-Rom Holdings Inc (HRC) was declining more than 6% as it reported a Q2 fiscal 2020 adjusted diluted EPS of $1.28, compared with $1.14 during the year-ago quarter. Select Medical Holdings (SEM) was down more than 12% after it posted a Q1 adjusted EPS of $0.37, up from $0.27 a year earlier. | AbbVie (ABBV) was slightly lower as it reported Q1 adjusted diluted earnings of $2.42 per share, up from $2.14 per share a year ago. Analysts polled by Capital IQ had projected EPS of $0.32 and revenue of $1.36 billion for the quarter. Net revenue rose to $8.62 billion from $7.83 billion a year ago, according to a statement. | AbbVie (ABBV) was slightly lower as it reported Q1 adjusted diluted earnings of $2.42 per share, up from $2.14 per share a year ago. Net operating revenue was $1.41 billion, compared with $1.32 billion in the same quarter last year. Analysts polled by Capital IQ had projected EPS of $0.32 and revenue of $1.36 billion for the quarter. | AbbVie (ABBV) was slightly lower as it reported Q1 adjusted diluted earnings of $2.42 per share, up from $2.14 per share a year ago. Hill-Rom Holdings Inc (HRC) was declining more than 6% as it reported a Q2 fiscal 2020 adjusted diluted EPS of $1.28, compared with $1.14 during the year-ago quarter. Analysts polled by Capital IQ had projected EPS of $0.32 and revenue of $1.36 billion for the quarter. |
24582.0 | 2020-05-01 00:00:00 UTC | AbbVie Q1 20 Earnings Conference Call At 9:00 AM ET | ABBV | https://www.nasdaq.com/articles/abbvie-q1-20-earnings-conference-call-at-9%3A00-am-et-2020-05-01 | nan | nan | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on May 1, 2020, to discuss Q1 20 earnings results.
To access the live webcast, log on to investors.abbvie.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on May 1, 2020, to discuss Q1 20 earnings results. To access the live webcast, log on to investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on May 1, 2020, to discuss Q1 20 earnings results. To access the live webcast, log on to investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on May 1, 2020, to discuss Q1 20 earnings results. To access the live webcast, log on to investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on May 1, 2020, to discuss Q1 20 earnings results. To access the live webcast, log on to investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
24583.0 | 2020-05-01 00:00:00 UTC | AbbVie Inc (ABBV) Q1 2020 Earnings Call Transcript | ABBV | https://www.nasdaq.com/articles/abbvie-inc-abbv-q1-2020-earnings-call-transcript-2020-05-01 | nan | nan | Image source: The Motley Fool.
AbbVie Inc (NYSE: ABBV)
Q1 2020 Earnings Call
May 1, 2020, 9:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for standing by. Welcome to the AbbVie First Quarter 2020 Earnings Conference Call. [Operator Instructions]
I would now like to introduce Ms. Liz Shea, Vice President of Investor Relations.
Liz Shea -- Vice President, Investor Relations
Good morning, and thanks for joining us. Also on the call with me today are Rick Gonzalez, Chairman of the Board and Chief Executive Officer; Michael Severino, Vice Chairman and President; and Rob Michael, Executive Vice President and Chief Financial Officer. Joining us for the Q&A portion of the call is Laura Schumacher, Vice Chairman External Affairs, Chief Legal Officer and Corporate Secretary.
Before we get started, I'll remind you that some statements we make today may be considered forward-looking statements for the purposes of the Private Securities Litigation Reform Act of 1995. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties, including the impact of the COVID-19 pandemic on AbbVie's operations, results and financial results that may cause actual results to differ materially from those indicated in the forward-looking statements. Additional information about these risks and uncertainties is included in our 2019 annual report and Form 10-K and in our other SEC filings. AbbVie undertakes no obligation to update these forward-looking statements except as required by law.
On today's conference call, as in the past, non-GAAP financial measures will be used to help investors understand AbbVie's ongoing business performance. These non-GAAP financial measures are reconciled with comparable GAAP financial measures in our earnings release and regulatory filings from today, which can be found on our website. Following our prepared remarks, we'll take your questions.
So with that, I'll now turn the call over to Rick.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Thank you, Liz. Good morning, everyone, and thank you for joining us. I'd like to start my remarks by acknowledging the tragic nature of the COVID-19 crisis, which has touched all elements of our -- in our lives in ways we never thought possible. The human toll that this pandemic has inflicted is unprecedented and the suffering unimaginable. During this very challenging time, I want to assure you that across AbbVie, we are working carefully to ensure that our business continues to operate properly, our employees remain safe, our patients continue to receive their medicines and we are providing aid, including product donations and financial assistance to address some of the critical needs of healthcare systems in underserved communities across the globe.
As a matter of priority, we continue to closely manage manufacturing and supply chain resources around the world to ensure that our patients receive an uninterrupted supply of their medicines. Our manufacturing sites remain operational. And we have implemented additional measures at these facilities to ensure the safety of our employees and to protect our supply of API and finished medicines.
We have adequate supplies in inventory to meet the expected demand for all AbbVie key medicines, including KALETRA and NIMBEX. Two therapies that have experienced a significant increase in demand directly related to COVID patient treatment, and we currently do not anticipate any product supply issues. AbbVie is also committed to supporting clinical research efforts for COVID-19. We have provided product donations to many health authorities and institutions globally so that AbbVie products may be further evaluated externally as potential treatment for this difficult disease.
In times of crisis, it is our nature as individuals and our culture as a company to give back in any way we can. We recently announced that AbbVie has donated $35 million to help meet some of the critical needs around the world. We've partnered with several non-for-profit organizations who are on the front lines of the battle against COVID-19, and our donations have helped to support several important initiatives, including the creation and operation of 20 mobile field hospitals in U.S. cities most impacted by the pandemic.
The procurement and delivery of oxygen concentrators, ventilators and personal protective equipment to healthcare systems in Europe. And various other essential programs, including a donation to Feeding America to provide food and household supplies for those most in need, including the elderly. We have donated a significant portion of AbbVie's own personal protective equipment supplies, including N95 and surgical masks to hospitals near our facilities throughout the U.S. and Europe. We have also converted some of our own facilities, including a pilot plant and several research laboratories to manufacture culture media and provide COVID-19 patient testing to supplement several public health departments. We are honored and committed to do what is in our power to help with this devastating pandemic. And we will continue to look for ways where we are able to help.
Now, turning back to our business. I want to further discuss how the crisis is impacting our performance and expectations for the full year 2020. Today, I'm pleased to report strong results. For the first quarter, AbbVie's total revenues were up more than 10.5% on an operational basis and adjusted earnings per share of $2.42 was up more than 13% versus the prior year. These metrics were significantly above consensus and our initial expectations.
Fortunately, we had very robust demand across our product portfolio heading into the COVID crisis. As the U.S. and other major countries around the world started implementing stay at home orders and social distancing strategies in late February, AbbVie, as well as most of our customers, started restricting face to face interactions, resulting in reduced physician and patient contacts.
These limitations, which are still in effect for most major countries created two fundamental impacts on our business in the quarter. First, patients and pharmacies built up some additional inventory of our medicines to ensure they had adequate supply. And second, we saw a fewer new patients visiting physicians' offices, which had a modest impact on the number of new patient starts.
Adjusting for COVID inventory dynamics, AbbVie's first quarter underlying operational sales growth was roughly 8.3%, significantly above expectations with double-digit underlying performance in both HemOnc and immunology, demonstrating the strong underlying performance of our business. Within HemOnc IMBRUVICA, the market-leading treatment for CLL grew strong double-digits, driven by increased demand in the frontline setting where we recently received another important label update, which Mike will discuss momentarily. VENCLEXTA also performed very well in the quarter, with global revenues of $300 million, roughly double the first quarter of last year, following share expansion in both CLL and AML.
Turning to our immunology business, HUMIRA continues to generate significant revenue. HUMIRA benefits from a substantial installed patient base, representing more than 80% of current demand. Globally, HUMIRA revenues were up nearly 6.5% on an operational basis in the quarter, including strong double-digit growth in the U.S. The international biosimilar trends and dynamics remain largely consistent with our expectations. SKYRIZI global revenues of $300 million were also significantly above expectations. Since the launch late last April, we have quickly established and expanded our leading in-play psoriasis patient share, which includes both new and switching patients and now exceeds 30%. This launch trend is truly remarkable and a testament to SKYRIZI's strong efficacy compared to other novel agents in the psoriasis category, including HUMIRA and COSENTYX.
RINVOQ is also performing at a very high level in the RA segment with global revenues of $86 million in the quarter. We estimate more than 17,500 prescriptions were filled including both paid and bridge, which is more than double the activity we saw in the prior quarter and now reflects approximately 11% in-play RA patient share. As demonstrated by our first quarter results, the underlying performance of our business remains very strong.
We have now also begun to return to ordinary operations in select geographies around the world where health authorities have deemed it safe to do so. And although early, we are seeing those countries ramp toward a normal operation and expected performance. This is obviously a challenging time to forecast given the unique nature of the COVID pandemic, including its global scope and unknown duration and it is difficult to predict precisely when major countries around the world will return to normalcy. Despite this uncertainty, we believe it's important to provide a clear set of updated assumptions that reflect the latest view of our full year performance. We based our forecast on the best estimates we have at this time, and we will make updates if necessary on our next quarterly call.
As I indicated earlier, our business was performing robustly above expectations and above our guidance prior to the COVID-related impacts. We have spent considerable time carefully evaluating the COVID dynamics from late March and April. Based on this analysis, COVID appears to be having two fundamental impact on our business. First, there has been a variable impact on new patient starts due to physicians' offices restricting patient visits and patients adhering to stay at home orders. As an example, many dermatology offices are currently closed. AbbVie has a strong frontline position in dermatology with HUMIRA and SKYRIZI. And here, we see new patient starts for these two brands were lower by approximately 30% to 40% over this timeframe. Once these offices reopen, patient volume should return back to normalized levels. Second, we've also seen lower new patient utilization of hospital-based treatments such as VENCLEXTA and HCV internationally due to many hospitals limiting access to non-emergency non-COVID patients.
We have carefully modeled these COVID-related dynamics and incorporated the expected impact on our full year results. Our current forecast now assumes the following. Stay at home orders will be gradually lifted starting in May across Europe and the United States. 60 days after geography lifts stay at home orders, we expect physician offices and hospitals will reopen for more routine patient diagnosis and care, and we expect patients will start returning to physicians' offices for routine treatment in that timeframe.
We have also factored in a modest increase to our patient assistance programs as well as a shift in our U.S. payer mix due to increased unemployment. Based on these specific assumptions, we are confident we can maintain our current full year 2020 adjusted earnings per share guidance. We will learn more as the second quarter progresses and we will continuously evaluate our current assumptions relative to how the environment evolves. Any updates will be provided on our next quarterly call.
On a related note, while we have not yet completed the Allergan transaction, we have also been actively working to assess the impact of the COVID crisis on the Allergan business. It's important to highlight that Allergan has both a therapeutic business, which is similar to the AbbVie business and represents approximately two-thirds of their revenues and profits and in aesthetics business, which represents roughly one-third of their revenues and profits. Based on the differences and the nature of these two portfolios, we expect them to be impacted differently as a result of the COVID pandemic.
We expect Allergan's therapeutic business except for BOTOX Therapeutics to be impacted and recover from the COVID crisis in a manner very similar to the AbbVie business I outlined earlier. We expect BOTOX Therapeutics, which has a substantial hospital base to experience a more significant impact given that patients are being discouraged from going into the hospital for non-emergency procedures during the pandemic, as I mentioned earlier. We also expect to see a more pronounced impact on Allergan's aesthetics business, as many of their customers, including plastic surgeons, med spas and dermatology offices are closed and therefore not performing procedures.
However, after carefully analyzing the aesthetics business performance during the 2008, 2009 recession, which experienced a rapid V-shaped recovery, the recent trends we are observing in China as clinics have reopened locally and procedures have started to ramp significantly and taking into account the household income and employment status of the aesthetics patient base, we remain confident that the expected near-term impact will likely substantial will be transient with the aesthetics business quickly ramping back to normalized trends following the relaxation of quarantine restrictions in the U.S. and major European markets.
As it relates to the closing of the Allergan transaction, we have completed all requirements with the FTC and they are in the final stages of their review process. Following the FTC process, the last step is the Irish High Court approval. Based on everything we know today, we continue to expect the transaction should close in May. We remain confident that the AbbVie Allergan combination will generate significant cash flows, which will support our strong and growing dividend and rapid debt repayment and we remain highly committed to both of those priorities.
So in summary, we reported a very strong first quarter performance. The COVID crisis is truly unprecedented and we expect it will have a transient impact on our business, primarily affecting our second quarter performance. However, based on our analysis of the situation as well as reasonable timing assumptions for the return to a more normalized environment, we are confident in maintaining our full year adjusted earnings guidance, which speaks volumes about the strength of AbbVie's business momentum entering the COVID crisis.
With that, I'll turn the call over to Mike for some additional comments. Mike?
Michael E. Severino -- Vice Chairman and President
Thank you, Rick. Let me begin by echoing Rick's sentiment about how proud I am of our colleagues, as our teams work to ensure our business continues with minimal disruption and our patients receive their essential medicines. The entire organization, including our colleagues deemed onsite essential who continue to come into work every day and the individuals who have effectively adapted to working remotely have demonstrated resiliency, dedication and compassion throughout this time of crisis. It's a testament to the culture we've built at AbbVie.
Today, I'll focus my commentary on the ongoing efforts within AbbVie's R&D organization to address COVID-19 and provide updates regarding our key development programs. As a leading global biopharmaceutical company, AbbVie is committed to supporting relief efforts for the coronavirus pandemic. In addition to the efforts highlighted by Rick, we have deployed our scientific and medical resources to help fight COVID-19 on several fronts.
There is an urgent need to increase testing capacity within the United States. Public health authorities are actively working to address the issues that have limited capacity to date, including instrument availability, availability of diagnostic kits and reagents and CLIA certified lab capacity. Given the unprecedented nature of this pandemic and the need to significantly increase access to testing, AbbVie is working with health authorities here in Illinois where we are headquartered and in Ludwigshafen, Germany where we operate a major site to create a clinical COVID testing capability. This will allow us to use our laboratory expertise to expand the COVID-19 testing capacity in both jurisdictions.
We have also used our GMP capabilities to manufacture viral transport medium, which is necessary to preserve swabs prior to lab testing for the Illinois Department of Health and a number of academic medical centers. Like many companies in our industry, we recognize the extreme burden being placed on our hospitals, public health systems and medical professionals by this crisis. And in response, we have created programs to allow our employees who have relevant medical, scientific or public health expertise to volunteer to support the fight against this pandemic.
AbbVie has tremendous resources and we doing everything we can to make these resources available in the fight against COVID-19. In addition to the efforts I just described, our R&D team is looking at our existing medicines and pipeline assets to assess their potential for the treatment of COVID-19. AbbVie is collaborating with health authorities and academic institutions globally to support clinical trials of KALETRA, a protease inhibitor approved for the treatment of HIV infection to determine whether it has potential use in COVID-19.
Two notable ongoing trials are the SOLIDARITY study being run by the World Health Organization and the DISCOVERY study, being led by a consortium in France. We expect to see data from these studies very soon, and we'll continue to monitor and update as information becomes available. We have also initiated a Phase 2 study of IMBRUVICA in patients with COVID-19 infection. The goal of this study is to determine whether IMBRUVICA is able to improve outcomes by blunting the overly exuberant immune response, often referred to as the cytokine storm that contributes to the morbidity and mortality in COVID-19. Lastly, we are also collaborating with a number of groups to screen our internal libraries for compounds with activity against COVID-19. Clearly, this is a rapidly evolving situation, and we will provide updates as additional information becomes available.
Turning now to an update on the status of our clinical development programs. Our top priorities in the R&D organization are ensuring the safety of patients, investigators and our employees around the world, maintaining the integrity of our clinical studies and continuing to advance our pipeline. We are carefully monitoring the situation and taking appropriate precautions to protect the safety of our study participants, clinical site staff and our employees.
We understand that healthcare systems are under extreme pressure because of the need to respond to the COVID-19 pandemic. In many instances, hospital-based research staff have been redeployed to other duties and aren't available to address clinical trial-related matters. AbbVie is doing everything possible to avoid creating an additional burden to our clinical trial sites.
Given the current environment, we have delayed onsite start-up activities for new clinical studies. Start-up activities that can be performed remotely will continue and we will resume onsite activities and new study initiation on a case-by-case basis as local conditions allow. We also paused screening of new patient recruitment for a small minority of non-critical ongoing studies, representing approximately 15% of our clinical trials, but are already in the process of reactivating screening in some of these studies, again as local conditions allow. The remainder of our studies continue to enroll, although we have seen decreased screening rates in the short-term, as would be expected in the current environment. At this time, we expect limited impact to clinical trials that are already fully enrolled.
Across our portfolio, we've implemented measures to ensure study continuity and minimize delays. These include actions such as shipping study drug directly to patients to avoid unnecessary study visits, conducting virtual study visits and remote data collection wherever possible and shifting enrollment to geographies and clinical centers that are either less impacted or are already entering recovery. Based on these efforts, we currently expect minimal impact to the overall timing of our critical programs and to our key regulatory submissions.
In immunology, we expect limited impact to the programs for RINVOQ and SKYRIZI in new disease areas. We are on track to submit our regulatory applications for RINVOQ psoriatic arthritis in the second quarter. And our filings for atopic dermatitis and ankylosing spondylitis are planned for the second half of this year. The data from our Phase 3 studies evaluating RINVOQ in atopic dermatitis are also expected in the middle of the year. The programs for SKYRIZI in new disease areas are also advancing very well. We continue to expect to see data from Phase 3 studies in both psoriatic arthritis and Crohn's disease in the second half of the year, with regulatory submissions for both indications expected in 2021.
We continue to make good progress with our early stage immunology pipeline as well. And we expect to be able to share results from the proof of concept study evaluating our novel TNF steroid conjugate in RA patients very soon. We recently completed the Phase 2 proof of concept study evaluating a ABBV-599 in RA patients. where our JAK-BTK inhibitor combination demonstrated superior efficacy compared to placebo, but the efficacy results did not prove differentiated from monotherapy with RINVOQ. Based on these results, we are discontinuing development of ABBV-599 in rheumatoid arthritis. We plan to continue development in other autoimmune diseases where there is a greater B cell contribution, such as lupus and systemic sclerosis, in which dual JAK-BTK inhibition could provide superior benefit over current standard of care.
In the area of oncology, we continue to make good progress with our HemOnc programs where we achieved several important milestones in the first part of the year. We recently received a label update for IMBRUVICA based on results from the E1912 study, which demonstrated the superiority of IMBRUVICA to FCR in frontline fit patients with CLL. For patients who get tolerated, the FCR regimen had been considered the gold standard for efficacy in frontline treatment for more than a decade. Demonstrating a strong progression-free survival benefit over FCR and incorporating these data into the label is another important addition to the breadth of data supporting IMBRUVICA use in frontline CLL.
Continuing with our HemOnc programs, we recently announced positive top-line results for VENCLEXTA in the Phase 3 VIALE-A study in AML. In this study, VENCLEXTA in combination with azacitidine demonstrated a statistically significant improvement in overall survival and in composite complete remission rate versus azacitidine alone in patients with previously untreated AML who are ineligible for intensive chemotherapy. The VIALE-A study was stopped early due to positive efficacy results at the first interim analysis of overall survival, demonstrating VENCLEXTA's clinical benefit to these patients for whom there are few treatment options.
We also announced the results from a second smaller Phase 3 study in frontline ineligible AML patients, the VIALE-C trial, which evaluated VENCLEXTA in combination with the low dose cytarabine. While the study did not meet its primary endpoint of overall survival, treatment with the VENCLEXTA combination showed an observed 25% reduction in the risk of death compared to low dose cytarabine alone. We believe that the failure to hit statistical significance on the survival endpoint in this trial was due to limitations on the sample size of the study.
With an additional six months of follow-up in the VIALE-C study, the VENCLEXTA combination demonstrated a median overall survival of 8.4 months compared to 4.1 months for low dose cytarabine alone, with a hazard ratio of 0.7 and a nominal p-value of 0.04. All secondary endpoints were in favor of the VENCLEXTA combination as well, including higher rates of response, earlier remissions, increased transfusion independents and longer event-free survival.
The data from both Phase 3 studies in AML will be submitted to the FDA and global health authorities in the coming months with regulatory approvals beginning later this year or early next year. We also remain on track to start several additional Phase 3 studies in BCL-2 driven diseases later this year, including VENCLEXTA in fit patients with AML and in high risk myelodysplastic syndrome, as well as Navitoclax in frontline and second line myelofibrosis.
So in summary, we've continued to make good progress with our development programs despite the challenges associated with the coronavirus pandemic. Once the situation is stabilized, we will work to restart paused clinical studies and evaluate the impact to our portfolio. But at this point, we do not expect the global pandemic to have long-term or significant impacts on our R&D programs. Our pipeline remains very robust and we expect many important milestones over the course of the next several years, which will support AbbVie's strong growth over the long-term.
With that, I'll turn the call over to Rob for additional comments on our first quarter performance. Rob?
Robert A. Michael -- Executive Vice President, Chief Financial Officer
Thank you, Mike. Starting with our first quarter results, we delivered strong top-line and bottom-line performance. Total net revenues were $8.6 billion, up 10.7% on an operational basis, excluding a 0.6% unfavorable impact from foreign exchange. These results include approximately $190 million of inventory stocking related to the COVID-19 pandemic. We reported adjusted earnings per share of $2.42, reflecting growth of 13.1% compared to prior year and above our guidance midpoint by $0.13, including $0.04 from underlying business strength and $0.09 related to COVID-19 inventory stocking.
Several key products contributed to growth in the first quarter. U.S. HUMIRA sales were $3.7 billion, up 13.7% compared to prior year, reflecting double-digit volume growth plus price. These results include approximately $65 million of COVID-19 inventory stocking. International HUMIRA sales were $1 billion, down 12.8% operationally, reflecting biosimilar competition across Europe and other international markets and ahead of our expectations. These results include approximately $35 million of COVID-19 inventory stocking.
SKYRIZI is performing extremely well and above our expectations. Global sales were $300 million with U.S. end market in-play market share now exceeding 30%. We also continue to see robust demand for RINVOQ, with sales of $86 million in the quarter. Hematologic oncology global sales were more than $1.5 billion, up 32.3% on an operational basis, driven by continued strong performance of both IMBRUVICA and VENCLEXTA.
IMBRUVICA global net revenues were $1.2 billion, up 20.6% driven by strong share in all lines of therapy and CLL. These results include approximately $45 million of COVID-19 inventory stocking. VENCLEXTA revenues were $317 million driven by continued share gains across all approved indications. Global HCV sales were $564 million, down 30.2% on operational basis, driven by lower treated patient volumes in select international markets and increased competition within the U.S. managed Medicaid segment. We also saw continued strong operational sales growth for Creon and Duodopa.
Turning now to the P&L profile for the first quarter. Adjusted gross margin was 82.7% of sales, ahead of our full year guidance due to sales mix and currency hedges in place. Adjusted R&D investment was 14.3% of sales, supporting our pipeline programs in oncology, immunology and other areas. Adjusted SG&A expense was 18.6% of sales, reflecting continued investment in our on-market products and newly launched assets. The adjusted operating margin ratio was 49.8% of sales, an improvement of 170 basis points versus prior year, including a 70 basis point benefit from inventory stocking. Adjusted net interest expense was $284 million. And the adjusted tax rate was 9.7%.
As Rick previously discussed, we are closely monitoring the impact of the COVID-19 pandemic. Given the momentum of the business heading into the pandemic and our current assumptions regarding timing of the recovery, we remain confident in our previously communicated full year adjusted earnings per share guidance of between $9.61 to $9.71 for stand-alone AbbVie. Excluded from this guidance is $2.01 of known intangible amortization and specified items. This guidance now contemplates full year revenue growth of approximately 7% on an operational basis.
At current rates, we now expect foreign exchange to have a 70 basis point unfavorable impact on full year reported sales growth. Included in this guidance are the following updated full year assumptions. We now expect U.S. HUMIRA sales growth of approximately 7%. For SKYRIZI, we now expect global revenues of approximately $1.4 billion. And for global HCV, we now expect sales of approximately $2.3 billion.
Moving to the P&L, we now forecast adjusted gross margin approaching 82% of sales. SG&A expense to be approximately 19% of sales. And adjusted operating margin approaching 49% of sales, an improvement of 140 basis points versus 2019. All other full year 2020 guidance assumptions remain unchanged. As we look ahead to the second quarter, we anticipate adjusted revenue of approximately $8.1 billion for stand-alone AbbVie. This guidance assumes reversal of inventory stocking from the first quarter as well as slower new patient starts due to COVID-19.
At current rates, we expect foreign exchange to have an 80 basis point unfavorable impact on reported sales growth. We are forecasting an adjusted operating margin ratio of approximately 47.5% of sales, including a reversal of the 70 basis point benefit from inventory stocking in the first quarter. We expect adjusted earnings per share between $2.10 and $2.16, excluding approximately $0.53 of known intangible amortization and specified items.
AbbVie remains well positioned to execute on our capital allocation priorities. We generated $3.8 billion of operating cash flow in the first quarter. Our cash balance at the end of March was $41 billion, including funding designated for the Allergan acquisition. The robust cash flow generation of the combined company will be used to rapidly pay down debt, support a strong and growing dividend and pursue additional innovative mid-to-late stage pipeline assets. We have committed to paying down $15 billion to $18 billion of combined company debt by the end of 2021, of which nearly $7 billion will be repaid by the end of May 2020. We expect to achieve a net debt to EBITDA ratio of 2.5 times by the end of 2021 with further deleveraging through 2023.
In closing, AbbVie's performance and financial condition remained strong. Given the nature of the important therapies in our portfolio and the ongoing efforts of the people within our organization, our business is well positioned to navigate the current COVID-19-related challenges.
With that, I'll turn the call back over to Liz.
Liz Shea -- Vice President, Investor Relations
Thanks, Rob. We will now open the call for questions. Operator, first question please.
Questions and Answers:
Operator
[Operator Instructions] And our first question today is from Vamil Divan from Mizuho.
Vamil Divan -- Mizuho -- Analyst
Great. Thanks so much for taking the questions and all the color you provided in your comments. Maybe just a couple if I could. One, you talked about the Allergan deal and obviously some of the assumptions there, I'm just thinking big picture. And I guess this is for Rick, just in terms of your -- kind of what you see as the value of that deal, I know obviously some of the assumptions in the near-term have changed, and you mentioned the aesthetics impact is probably more transient. But just to confirm for investors, do you see any changes over the longer term value of this transaction? We are obviously getting a lot of question just given the nature of this aesthetics business right now.
And then second one on the dividend. You mentioned obviously your support for a strong and growing dividend there also. Just any changes to how you think about dividend growth going forward given the current environment, obviously you're still saying growing, but is there may be growing at a lower rate or any change at all there just would be great to clarify? Thanks again.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Hey Vamil, this is Rick. I mean I'll take those two questions. Let me do the second one because it will be shorter first. So we don't see any changes in the assumptions we're making from the standpoint of the growth of the dividend. Based on everything that we have analyzed, and I would say the robust performance of our business going into the COVID crisis and how we view the COVID crisis being a transient situation that's although difficult to predict exactly when all the geographies will reach some level of normalcy. We know that will occur at some point. And so we don't view any significant change there.
On the value of the Allergan transaction, I would tell you that we don't see any change, fundamental change in the long-term value of the transaction. The benefits that we were trying to drive by acquiring the Allergan business are the same, and the long-term valuation I believe is the same. Now I think what some of the investors are probably concerned about is obviously the aesthetics business is an important franchise, as I indicated before, represents about third of the revenues and about third of the profits, and it's an attractive franchise.
And so I think the question that investors have is how is it going to recover and how long will it take to recover? And I think those are reasonable questions. And as you can probably imagine, we have been doing a tremendous amount of work to try to evaluate not only the impact of COVID on our business, but also the impact of COVID on the Allergan business. And specifically, I'd say, we've spent a considerable amount of time looking at the aesthetics business. So I'm going to take a couple of minutes here and walk you through what that data looks like so that -- you have a good perspective, at least, the data that we're operating against to make the assumptions that we're making.
Now what I am going to say is because of the Irish takeover code, we can't talk about the specific financials of Allergan until they are public, and they're not public right now. So I'm not going to talk about the financial performance in any way. But I think I can give you a pretty good characterization as to the work that we've done here and the conclusions that we draw on.
So I think if you step back and you look at the situation, it is clearly a situation. One, it's a complex situation. And two, it's not a situation that any of us have ever experienced before. Meaning that this has both a economic disruption factor built in and it has a supply and demand disruption factor that's built in. We've certainly seen economic impacts on this business before and we know how it behaved in those circumstances.
So as we tried to approach understanding what the recovery will likely look like, we've essentially looked at four fundamental issues. Number one is, are there any analogs that would tell us what that recovery curve is going to look like. Number two, what is it going to be -- what is it going to take in order for the supply side. And when I say supply side, what I mean is plastic surgeons, med spas, dermatology offices, which are the primary providers of those procedures. What is it going to take for the supply side to get back to where it was. And then number two or number three rather, what is going to be necessary on the demand side. And demand, I mean, consumers, users of these procedures. And then finally, will there be any change in the situation from a competitive standpoint. Those are the four fundamentals that we've looked at. We've looked at this both in conjunction with Allergan and we also have done an independent analysis with the same consulting firm that we used when we were considering acquiring the Allergan business. So we did two independent work streams to come to our conclusions.
So let me start with the analogs, there are two, right? There is the 2008, 2009 recession. And as I said in my comments, there we saw a very sharp V-shaped recovery. And in fact, the business recovered and actually grew faster on the other side of that. The second analog is China. China has reopened most of its geographies, not all, but most. And they've been opened for approximately seven or eight weeks now. If we look at the data from China, what it says is, 86% of the clinics have reopened. Patient traffic is back to about 55%. Volume is just under 50%, like 45% to 48%, slightly lower because those clinics are also burning off some of their inventory so it doesn't outdate. So I'd say the two analogs that we came up with look pretty encouraging.
Now let's look at the supply side. So on the supply side, what we're trying to understand here is what is the intent and what is the preparation for these offices to reopen. And I think there's a couple of important facts here that help support and guide us to what that might look like. First, the major medical societies like the plastic surgery society, the aesthetic society and others, have now issued guidelines to these practices on the procedures that they should use to restart. And they include things like temperature checks, masks, gloves, face shields, lower densities in their offices.
So why is that important? Well, why that's important is, this gives those offices a guideline as to how they should reopen. And probably more importantly, it gives them confidence on how they should reopen. Allergan has worked with their customers. A number of their customers, a large percentage of their customers requested the U.S. government stimulus funds. And so what we do know is that a significant portion of those practices should be in a position where financially they can reopen fairly quickly.
And finally, Allergan has done a number of surveys with their large -- with a large group of customers that show that the demand to reopen upon lifting of this stay at home orders and implementation of these patient safety guidelines is very high and we anticipate that they will start reopening in May, and that's what our data told us and the survey data told. I'd say if anything, it seems to be moving faster than what we originally anticipated because some states in the U.S. have opened up more quickly.
So then the next question is, the demand side. What's that going to look like? And here I'd say again, Allergan did some very good work. If you look at the brilliant distinctions database, which has about 2 million active members, represents about 70% of Allergan's users. It shows that 70% of the brilliant distinction consumers have household incomes of greater than $100,000 and 50% have incomes, household incomes of greater than $150,000 a year. And it shows that 60% of those consumers work for corporations, not small businesses.
Allergan also conducted a recent user survey that had just under 450 consumers that they interviewed. And it showed that 80% of the consumers said that the COVID crisis had no or little impact on their household incomes. 94% of those consumers said they'd reschedule an appointment for procedures in the next 90 days. And two-thirds of them said upon restrictions being lifted they will schedule an appointment in 30 days.
So now you turn to the competitive environment. Allergan competes mostly against smaller, less financially strong companies. I'd also say that Allergan has done an excellent job. I give a tremendous amount of credit to Carrie Strom and Bill Murray. They responded quickly and aggressively to this crisis with their customers. They extended payment terms. They converted credits to check to help with cash flow at these offices. They protected the customers' volume discounts. They facilitated online sales of Allergan skin medical products, again to get those offices some cash flow. And they changed the product return policy, so the customers are protected from any product outdated. I'd also say from a competitive standpoint, Allergan didn't have the layoffs. They maintained or accelerated their R&D programs. And you have to remember, Allergan has the largest commercial footprint by a significant margin compared to anyone else in this business.
So what the data tells me is this. The analogs show the business bounces back and it's resilient. The supply side should ramp quickly when the environment allows. Consumers have a strong desire to restart treatments. And they have the financial capacity to do so. And I think Allergan did a nice job of creating loyalty with these practices and should come out of this in a very strong competitive position, may be even stronger than they were before.
The independent analysis that we did also surveyed customers and providers. And I would say, it looks very similar to what the Allergan analysis looks like. So look, what we can't predict is exactly how long it will take in every state and in every country around the world, but I think we can predict with a pretty high degree of certainty that the business will bounce back. So those are some of the keys that I think make us feel confident in the valuation.
Liz Shea -- Vice President, Investor Relations
Thanks Vamil. Operator, next question please.
Operator
Thank you. Our next question is from Geoffrey Porges from SVB Leerink.
Geoffrey Porges -- SVB Leerink -- Analyst
Thank you very much for taking the question. First, there are a number of things that are obviously affecting the environment right now, Rick. And I just want to ask about SKYRIZI and RINVOQ. You've previously given some longer term aspirational revenue targets, I'm just wondering how you feel about those targets? Now we've seen a few quarters for each product, and also, I understand, you're going to have a little bit of COVID disruption. And then could you just talk a little bit more -- I think that's very helpful coverage of plastic surgeon context. Could you just talk a little bit more about the other specialties and products where you're expecting impairment in Q2 and how quickly they could bounce back? Thank you.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Yeah. So fundamentally I would tell you, we don't have any change in the long-term forecast for SKYRIZI and RINVOQ. I think one of the things that's impressive when we look at both SKYRIZI and RINVOQ is the speed and acceleration of the ramp that we're seeing in the share capture of these assets. So let me give you a perspective on it. If you look at SKYRIZI as an example, SKYRIZI within about three months achieved the number one position in psoriasis, in-play psoriasis share. And then the rate of catcher has actually accelerated from there. It achieved about 20%. If you look at the January data, which is the most recent independent data that we have, we have internal data that we also use to project, but the January data shows that it's at 31% and the slope of that line is accelerating and accelerating in a pretty good clip and it is widening the range between it and the number two player in a significant way. And so this thing has tremendous momentum.
Yes, obviously the COVID crisis has created a disruption. As I mentioned in my comments, if the dermatology office is closed, obviously they are not prescribing anything, including SKYRIZI. But that's a temporary phenomenon and we'll see these offices start to open back up and I have no reason to believe that that momentum won't come back as patients feel comfortable to go back into their offices.
RINVOQ obviously launched -- SKYRIZI launched in April and RINVOQ launched in August. So it launched later. But I'd say we've also seen on RINVOQ now a similar acceleration of its capture rate of share and in-play share in RA. And it too is accelerating going into this. And it's about 11.3% on the last data point. And I'd say based on once things settle back out from COVID, it would take it probably three months to pass. There is as a whole group of players at number two, HUMIRA is number one. But it would take probably three months for it to pass that group that's in number two. And I would expect it moves into the number two position shortly after that, after the disruption has subsided and we have a chance to continue to drive it. And so I feel very good about both of those assets and what the long-term performance of those look like. I think as I look at the R&D programs for both of them and the ability to expand, the indications, much like we did with HUMIRA, these assets have tremendous opportunities. So I feel good about it.
By other specialties, I believe what you're asking is what's going to happen to the other aspects of the business because what I was referencing on aesthetics really cover the range of supply side. So it's plastic surgeons, derm and med spas. So again, we can talk about the numbers. But as I indicated in my comments, I would expect the therapeutic side of Allergan to recover very similar to our side, a temporary disruption. There is likely to be a more significant impact on BOTOX Therapeutic because about half of its volume comes from hospitals. And -- but we would expect that to bounce back once those hospitals start accepting non-emergency non-COVID patients. So we don't see anything in the data as we analyze it that would suggest that there is anything that's happening to any of their products that would impair the original assumptions we made about those products.
Liz Shea -- Vice President, Investor Relations
Thank you. Next question please, operator.
Operator
Thank you. Our next question is from Steve Scala from Cowen.
Steve Scala -- Cowen -- Analyst
Thank you. I have a couple of questions. But first, congratulations on a very strong quarter under very difficult conditions. So the first question is, even pre-pandemic, AbbVie seem to have embraced digital marketing. I think the company previously said that pre-pandemic 40% of commercial activities were already virtual. What does AbbVie do differently than peers? And does this expertise explain in part the strength of SKYRIZI and RINVOQ in the first quarter? And then the second question is just a housekeeping question. Just curious, do you expect that Allergan will publicly report its first quarter? Thank you.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
I mean on the digital marketing, I mean, obviously we have a significant expertise in that area. And I honestly can't tell you how differentiated that is versus other competitors because I think many companies like ours have gone to a significant portion of their promotional messaging is through digital marketing. I mean, I think we're very effective at it. I don't think that is what's driving the RINVOQ SKYRIZI performance. I think what's driving it is really two fundamental things. One is, obviously these assets have very strong clinical profiles. They fit a need in the market, an unmet need that's in the market. It was consistent with what we originally assumed when we were trying to develop replacements for HUMIRA. And I think we're all extremely pleased that these assets are doing a very good job of demonstrating superiority to the gold standard as HUMIRA.
The second thing is, I think obviously, this is a market we know how to execute in at a very high level. We have a tremendous level of experience in this market. A tremendous reputation in this market. And I think our commercial organization executes at a very high level in this market. I think that's what's driving the performance. And it makes me feel good about what the future looks like for these assets.
As far as Allergan is concerned, I don't know if they're going to. Well, let me put it this way. I don't think I should comment on whether they're going to publicly report their first quarter results. I think that's something they should probably respond to not us.
Steve Scala -- Cowen -- Analyst
Thank you.
Liz Shea -- Vice President, Investor Relations
Thanks, Steve. Operator, next question please.
Operator
Thank you. Our next question is from Navin Jacob from UBS.
Navin Jacob -- UBS -- Analyst
Hi. Navin from UBS. Thanks for taking the question. So I heard the $1.4 billion for SKYRIZI in upgrade versus the $1.2 billion. Just wondering if you have an update on RINVOQ revoke as well? I think you had said $500 million for the full year, maybe I missed it. But just wondering if you could provide an update on that guidance as well? And then with regards to the slight lowering of the full year HUMIRA guidance. Wondering if there's any color on what's driving that, obviously COVID-19 impacting things. But is it because of -- any color as to whether it's COVID-19 specifically or if it's increase in gross-to-net or if it's an increase in the switching to SKYRIZI and RINVOQ? Any of that would be helpful. Thank you so much.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Okay. Thank you. So let me talk about it in a little higher level and I'm going to hand it over to Rob to give you more specifics. I think the way to think about this is, we came into this first quarter, if you look at our first quarter performance, had COVID not happened, we would have been sitting here contemplating how we raise guidance. But because of the uncertainty of what's going to happen in the second quarter, we obviously had to make an assessment of what we thought that impact would be. And that's why I outlined what those assumptions are.
So you can think about it this way. We're essentially assuming the business is overperforming, and the data clearly supports that business overperforming. We're going to have somewhat of a negative impact in the second quarter that we're basically saying we can overcome, and we had to estimate where that would occur. We're raising SKYRIZI because the momentum is such that even with some caution about second quarter, we know we're going to beat that number.
RINVOQ. We feel good about RINVOQ as well, but we don't need to raise that at this point. We need to give it probably another three months, four months and then we'll make a decision what that looks like. HUMIRA has a very large installed base. And so I indicated that we are making some adjustments to what we think will happen with channel mix, specifically Medicaid. We've worked diligently to try to understand what that look like. And as you probably know, during the 2008, 2009 recession, which is probably the best thing that we had to be able to compare it to, Medicaid went up about two points from '07 to '09, two percentage points.
So we have factored in some potential shift in HUMIRA, and that's primarily what we're reflecting. Rob can give you a little bit more color, but I'd say that's a significant part of what we're trying to reflect there. We also took down MAVYRET, and MAVYRET is two things. One, it is COVID-related, probably about half of its COVID-related there where HCV internationally is administered through hospitals and they've clearly been disrupted and we need that disruption due to play through before we can get back to the same momentum. In the U.S. though, I would say it's primarily driven by price. That market is still under price pressure and some share pressure. So those are the two most significant ones. Rob?
Robert A. Michael -- Executive Vice President, Chief Financial Officer
Yeah, Navin. So if you look at the guidance we gave of approximately 7% growth, so that translates in about a $300 million change for U.S. HUMIRA. I'd split it really in the three buckets evenly. So as we think about unemployment, higher pay fee volume, Medicaid channel mix, each of those, say a third and a third from those two and then the remaining third would be just lower new patient starts during the stay at home period. So that will be most acute in the second quarter.
As it relates to SKYRIZI, and look, the momentum for SKYRIZI is very, very strong and we would raise it even higher had it not been for the disruption in Q2 and new patient starts. So despite having that disruption on new patient starts, we're still taking the guidance up, we would have taken up higher without that. And I think, Rick, characterized the HCV change very well.
Liz Shea -- Vice President, Investor Relations
Thank you, Navin. Operator, next question please.
Operator
Thank you. Our next question is from Randall Stanicky from RBC Capital Markets.
Randall Stanicky -- RBC Capital Markets -- Analyst
Great. Thanks guys. Rick, focus is going to shift pretty quickly here to pro forma 2021 earnings. You've had more time to prepare for the integration given COVID-19. But can you just talk about does COVID-19 impact those integration plans at all? And then how are you thinking about the synergies? And specifically, how quickly you can realize those $2 billion plus in cost synergies? I know they're third-party verified into Irish law, but at the same time it's 90% of -- 90% of that is operating expenses. So the question is, why couldn't we see more of that realized early on? Thanks.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Yeah. I think as it relates to pro forma earnings, I mean, once we close the transaction, at that point, we will evaluate the business again and make a decision at which point we're going to provide pro forma earnings. As far as integration is concerned, I would tell you that we're not -- we have done all of the integration work, we're well prepared and have been prepared now for several months to do the final integration. And I don't believe -- we're operating AbbVie at a very high level of effectiveness as we're operating today where a significant number of people are working remotely. I wouldn't say it's the ideal scenario, I'd much prefer we can all get back to operating the way we did before. But look, it's not practical right now. And I don't believe that anything will change the performance of the integration as it relates to code. So I'm not overly concerned about that.
Synergies, obviously we have built a synergy plan that we are very comfortable with. And we have -- I don't believe we've given the gating of that yet. We have not. Okay. That was Rob shaking his head no because you can't see Rob. So we've obviously gated that. I wouldn't say we have changed the gating because of COVID one way or another, but we feel good about achieving those synergies. And obviously, everyone that does transactions like ours tries to overachieve their synergies, and we won't be any different than that. But we'll give you an update on what that gating looks like once we gave you the pro forma guidance.
Liz Shea -- Vice President, Investor Relations
Thanks, Randall. Operator, next question please.
Operator
Thank you. Our next question is from Terence Flynn from Goldman Sachs.
Terence Flynn -- Goldman Sachs -- Analyst
Hi. Thanks for taking the questions, and thanks for all the color today. I really appreciate it. Just wondering if -- first question is, if COVID has impacted the rate of uptake of biosimilars in Europe at all either on the positive side or the negative side? And then for ABBV-3373, I know you mentioned the data is coming out in the near-term. Maybe just can you remind us what you're hoping to see here on the efficacy side to advance this into further studies? Thank you.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Yeah. So this is Rick. I'll cover the first one and I may hand it over to Rob to give you a little more specifics and then Mike will cover the second question. So as you probably saw in the quarter, we did better internationally than we had projected initially. And so that is related to a great extent that we have seen less biosimilar conversion than we originally anticipated.
It's a little difficult to tell at this point whether or not that is COVID-related. In other words, one hypothesis could be, and it is nothing, but a hypothesis is that because people are staying at home, they can't get converted to biosimilars as rapidly. I think it's not the one that our area organizations think is happening. It just appears that we're performing better than we had expected. But I think to know that for sure we'll have to see a little more time play out. But overall, we feel pretty good. And so I'm not giving you a very good answer because I don't know the answer totally. So I'm giving you the best information that I have available to me. Rob, anything you'd add on it?
Robert A. Michael -- Executive Vice President, Chief Financial Officer
I think if you look at our beat versus guidance, it was about approximately $140 million. Keep in mind that we have about $35 million of COVID-related inventory stocking. We did have some tender timing in Brazil, it's about $30 million. So the balance of that you call $75 million favorability. Could there be some COVID-related impact there? Possibly. If you look -- we didn't change our full year guidance, even though we have the U.S. dollar strengthening. So that's inherently about a $70 million, $75 million operational upside that we've baked in that's offsetting that foreign exchange headwind. So it is going better so far than we expected, which is great, but it's hard to pinpoint whether it's COVID-related or not.
Michael E. Severino -- Vice Chairman and President
This is Mike. I'll take the question on 3373, which is our TNF steroid conjugate. It's in a proof of concept study in rheumatoid arthritis. What we'd like to see there is efficacy that is greater than what can be achieved with currently available agents really across the board, but also with a particular focus on higher levels of response. Obviously, we're going to want to see that with an appropriate safety profile, recognizing that a proof of concept study has a relatively limited safety database. And importantly, we're going to want to confirm that we can deliver that without impacting the pituitary access as a measure for systemic steroid effects.
We have stated in other settings that from the 1b portion of this trial in healthy volunteers, we've shown we can deliver this construct without those steroid effects, without impacting the pituitary access. So we would expect to be able to do the same thing in RA patients in treatment, but we want to confirm that obviously.
Liz Shea -- Vice President, Investor Relations
Thanks, Terence. Operator, next question please.
Operator
Thank you. Our next question is from Andrew Baum from Citi.
Andrew Baum -- Citi -- Analyst
Thank you. A question on the long-term impact of COVID-19. I'm interested in what's the prescription rates of both SKYRIZI and RINVOQ among private practice versus salaried dermatologists or rheumatologists. I guess what I'm thoughtful about is the extent to which the economic pressures of COVID-19 may force many private practice physicians to become salaried with perhaps more constraints on their prescribing or switch frequency? Many thanks.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Andrew, I would say, I don't know the answer to your question, to be honest. I can tell you that we don't see it today, we don't see a significant difference across practices from a behavior standpoint. But future behavior, I think that will be a little more difficult to predict. I think most physicians prescribe a medicine that they believe, in the United States, that they believe is fundamentally the right medicine for that patient. And I would say that the profile of the drug is what tends to drive their prescribing habits more than anything else. So I would say I was surprised -- I would be surprised if there is any difference in the behavior. We'll go back to our commercial group and see if they have any data on it. And if so, we'll provide something back to you.
Liz Shea -- Vice President, Investor Relations
Thanks, Andrew. Operator, next question please.
Operator
Thank you. Our next question is from Tim Anderson from Wolfe Research.
Tim Anderson -- Wolfe Research -- Analyst
Thank you. A couple of questions please. The first is on business development, and Allergan certainly helps fill the long-term hole from HUMIRA going off patent, but I still view it as M&A is going to be a likely continued part of the story. So my question here is the timeframe for AbbVie being kind of actively back in the marketplace to do additional acquisitions, and I'm defining those acquisitions as smaller bolt-ons, single-digit billion dollar types of deals. Could that start to happen as soon as the current year in 2020?
Second question is on RINVOQ. In atopic derm, you are running a head-to-head study versus Dupixent, called Heads Up similar to what Pfizer has done its JADE COMPARE trial, and I think your results come out in early 2021. The Pfizer results were perceived as being a bit underwhelming. I'm wondering, if you expect RINVOQ results would be any different from Pfizer's? Thank you.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
On the BD front, we haven't changed from what we have talked about historically. Our capital allocation strategy is support a strong and growing dividend, pay down debt aggressively and we've allocated approximately $2 billion per year that we can do more bolt-on kinds of transactions. I can tell you that Mike and the BD team have been very actively pursuing what we think fits strategically and doing the work that's necessary to determine is it an asset that we want to add to our portfolio. And where we find those opportunities and we believe they are a good return for the company, we're aggressively pursuing those. And so I think you will see, over the course of time here, you will see us do deals that are consistent with that strategy. And it clearly -- there's a lot of focus on oncology that we have interest, but other areas as well. Mike?
Michael E. Severino -- Vice Chairman and President
So this is Mike. I'll cover the question on atopic dermatitis. Obviously, we're well aware of the Pfizer data from their program in atopic dermatitis, at least at the top-line level that are currently available. And what I would say is we're going have to look at each of these programs individually, although there are some mechanistic similarities, factors such as dose selection, ability to cover the relevant pathways are important when you're trying to predict the results that you're likely to see. We feel good about the pharmacodynamic coverage we've been able to drive with RINVOQ really across the board, but particularly in AD. We had very strong Phase 2b results. So we feel that our program will stand on its own merits and we look forward to those head-to-head data as we look forward to all the data from the Phase 3 program in atopic dermatitis.
Tim Anderson -- Wolfe Research -- Analyst
Thank you.
Liz Shea -- Vice President, Investor Relations
Thanks, Tim. Operator, next question please.
Operator
Thank you. Our next question is from Carter Gould from Barclays.
Carter Gould -- Barclays -- Analyst
Great. Good morning. Congrats on the quarter. A few questions. Rick, I appreciate the color on the Allergan aesthetic business. Maybe just to follow-up. Just trying to understand the sort of the sensitivity around your deleveraging forecast to the return of the aesthetics business in line with your assumptions? And I guess also based on your survey work, maybe your read on sort of the rate, not so much the rate, but like the ultimate return of the med spas? And sort of any view on I guess what percentage of those may not return given I guess there is a view that that's somewhat of a more economically sensitive population relative to the broader BOTOX community? And then apologies if you've already commented on this. On the pro forma guide that's going to come, is the expectation that will come upon deal closing or we'll have to wait to 2Q? And then maybe just given all the uncertainty around COVID, your latest thoughts about also providing longer term guide at that point? Thank you.
Robert A. Michael -- Executive Vice President, Chief Financial Officer
Carter, this is Rob. I'll take your question on deleveraging. Look, if you think about the amount of cash flow that the combined business generates, it's a tremendous amount of cash flow that we feel very confident in our ability to deliver on our deleveraging commitments. As I mentioned in my remarks, we still expect to pay down $15 billion, $18 billion of debt. We're going to have $7 billion paid down by the end of this month. And we still would be able to support a strong growing dividend. So even as we flex various scenarios, we feel very confident. We've reaffirmed those commitments on deleveraging.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Yeah. As it relates to the med spa question, I would say across the board, we looked at what kind of assumption should we make about any consolidation in the industry. And the one thing I would say is, it does appear that these businesses fairly aggressively participated in the U.S. government stimulus programs, the payroll protection programs and the other programs that were available. And so I think the data would suggest to us now that that won't be a massive impact. And if there were any consolidation across any of the channels, and I don't know that any one channel really stands out in a significant way, we believe that there -- all we'll see is a shift of that capacity to other players, meaning they get better. And so we're not assuming any significant reduction in the supply side of the channel that can't be absorbed through consolidation if necessary.
On the pro forma guide, obviously we're going to wait for the business to close. We want to do some work on the business. And then we'll provide the pro forma guidance after that. So depending upon the timing of when it closes and how close we are to the second quarter, it could come on the second quarter call. So we're not really in a position right now where we can give you a total clarity on that.
Liz Shea -- Vice President, Investor Relations
Thanks, Carter. Operator, we have time for one final question.
Operator
Thank you. And our final question today is from Damien Conover from Morningstar.
Damien Conover -- Morningstar -- Analyst
Great. Thanks for taking the question. I just want to ask a question on the strength of SKYRIZI and RINVOQ. We're seeing great growth there, and both these drugs have shown excellent data. But I also want to ask, is there any ability to leverage the competitive positioning of HUMIRA here? And I guess I asked that because I think about the recent launch of the IL-17 switch, those competitors used to complain about the strong entrenchment of the TNF class in some of the rebating that was going on there. So I was just wondering, the two growth of SKYRIZI and RINVOQ, is that really coming from the medicines themselves? So that's question one.
And then the second question is, when thinking about the shift back toward normal and sort of the transient impact that we're likely to see from COVID, I wanted to ask about the thoughts around the potential second wave of coronavirus patients as some of the stay at home orders lessen up and doctor's office reopen. Is it the view of AbbVie that the second wave won't be that large or that when the second wave comes we'll have strong treatment options in triaging that we'll be able to get to more business as normal operations? Thank you.
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Yeah. I think if we look at the strength of SKYRIZI and RINVOQ, it's driven by a couple of factors, right? Particularly, I'd say in the U.S., it's driven by a couple of factors. As I said a few minutes ago, certainly the clinical profile of the drug is first and foremost. The second is you have to have broad-based managed care access in the United States to be successful. Doesn't matter how you -- how you convince the physician to use the product based on its clinical profile. If they can't get it reimbursed, they obviously can't prescribe it to their patients.
So -- and so that takes a company that has strong expertise in being able to deliver high levels of managed care access, which obviously we can. And then the third is just the effectiveness of your commercial and medical affairs organization. And I think in this area, we have one of the best, if not the best. So I think those are the things that really drive it. In our business, you can't really leverage one product against the other specifically. So I don't believe it's a leverage issue.
As far as the second wave, I'm going to let Mike cover most of that. The only thing I would say is we have not assumed another major shelter in place order in the fall in our assumptions. So we have assumed that we'll be able to manage through any increase in infections in the way we've built this forecast.
Michael E. Severino -- Vice Chairman and President
That's correct, Rick. And so I think it's very hard to make exact predictions about the longer term nature of the coronavirus infection rates. But what we are assuming, as Rick said, is that there will not be a major second wave and mark down. And I think the factors that would play into that would be a much greater understanding of surveillance, broader access to testing, the ability to respond much more quickly based on experience and based on those factors that I just mentioned if small pockets of new infection do pop-up as well as hopefully the availability of some treatment options, although I think treatment options will continue to evolve over some period of time and renewed capacity or relief from the overcapacity status that the healthcare systems are currently operating under. So I think it's all of those features together that lead us to the view that supported the assumptions that Rick outlined in our thinking on this.
Liz Shea -- Vice President, Investor Relations
Thanks. Damian. And that concludes today's conference call. If you'd like to listen to a replay of the call, please visit our website at investors.abbvie.com. Thanks again for joining us.
Operator
[Operator Closing Remarks]
Duration: 79 minutes
Call participants:
Liz Shea -- Vice President, Investor Relations
Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer
Michael E. Severino -- Vice Chairman and President
Robert A. Michael -- Executive Vice President, Chief Financial Officer
Vamil Divan -- Mizuho -- Analyst
Geoffrey Porges -- SVB Leerink -- Analyst
Steve Scala -- Cowen -- Analyst
Navin Jacob -- UBS -- Analyst
Randall Stanicky -- RBC Capital Markets -- Analyst
Terence Flynn -- Goldman Sachs -- Analyst
Andrew Baum -- Citi -- Analyst
Tim Anderson -- Wolfe Research -- Analyst
Carter Gould -- Barclays -- Analyst
Damien Conover -- Morningstar -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | However, based on our analysis of the situation as well as reasonable timing assumptions for the return to a more normalized environment, we are confident in maintaining our full year adjusted earnings guidance, which speaks volumes about the strength of AbbVie's business momentum entering the COVID crisis. AbbVie Inc (NYSE: ABBV) Q1 2020 Earnings Call May 1, 2020, 9:00 a.m. Welcome to the AbbVie First Quarter 2020 Earnings Conference Call. | Operator [Operator Closing Remarks] Duration: 79 minutes Call participants: Liz Shea -- Vice President, Investor Relations Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer Michael E. Severino -- Vice Chairman and President Robert A. Michael -- Executive Vice President, Chief Financial Officer Vamil Divan -- Mizuho -- Analyst Geoffrey Porges -- SVB Leerink -- Analyst Steve Scala -- Cowen -- Analyst Navin Jacob -- UBS -- Analyst Randall Stanicky -- RBC Capital Markets -- Analyst Terence Flynn -- Goldman Sachs -- Analyst Andrew Baum -- Citi -- Analyst Tim Anderson -- Wolfe Research -- Analyst Carter Gould -- Barclays -- Analyst Damien Conover -- Morningstar -- Analyst More ABBV analysis All earnings call transcripts {%sfr%} 10 stocks we like better than AbbVie When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. AbbVie Inc (NYSE: ABBV) Q1 2020 Earnings Call May 1, 2020, 9:00 a.m. Welcome to the AbbVie First Quarter 2020 Earnings Conference Call. | Adjusting for COVID inventory dynamics, AbbVie's first quarter underlying operational sales growth was roughly 8.3%, significantly above expectations with double-digit underlying performance in both HemOnc and immunology, demonstrating the strong underlying performance of our business. Operator [Operator Closing Remarks] Duration: 79 minutes Call participants: Liz Shea -- Vice President, Investor Relations Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer Michael E. Severino -- Vice Chairman and President Robert A. Michael -- Executive Vice President, Chief Financial Officer Vamil Divan -- Mizuho -- Analyst Geoffrey Porges -- SVB Leerink -- Analyst Steve Scala -- Cowen -- Analyst Navin Jacob -- UBS -- Analyst Randall Stanicky -- RBC Capital Markets -- Analyst Terence Flynn -- Goldman Sachs -- Analyst Andrew Baum -- Citi -- Analyst Tim Anderson -- Wolfe Research -- Analyst Carter Gould -- Barclays -- Analyst Damien Conover -- Morningstar -- Analyst More ABBV analysis All earnings call transcripts {%sfr%} 10 stocks we like better than AbbVie When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. AbbVie Inc (NYSE: ABBV) Q1 2020 Earnings Call May 1, 2020, 9:00 a.m. | Operator [Operator Closing Remarks] Duration: 79 minutes Call participants: Liz Shea -- Vice President, Investor Relations Richard A. Gonzalez -- Chairman of the Board and Chief Executive Officer Michael E. Severino -- Vice Chairman and President Robert A. Michael -- Executive Vice President, Chief Financial Officer Vamil Divan -- Mizuho -- Analyst Geoffrey Porges -- SVB Leerink -- Analyst Steve Scala -- Cowen -- Analyst Navin Jacob -- UBS -- Analyst Randall Stanicky -- RBC Capital Markets -- Analyst Terence Flynn -- Goldman Sachs -- Analyst Andrew Baum -- Citi -- Analyst Tim Anderson -- Wolfe Research -- Analyst Carter Gould -- Barclays -- Analyst Damien Conover -- Morningstar -- Analyst More ABBV analysis All earnings call transcripts {%sfr%} 10 stocks we like better than AbbVie When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. AbbVie Inc (NYSE: ABBV) Q1 2020 Earnings Call May 1, 2020, 9:00 a.m. Welcome to the AbbVie First Quarter 2020 Earnings Conference Call. |
24584.0 | 2020-05-01 00:00:00 UTC | Friday's ETF with Unusual Volume: MDIV | ABBV | https://www.nasdaq.com/articles/fridays-etf-with-unusual-volume%3A-mdiv-2020-05-01 | nan | nan | The Multi-Asset Diversified Income Index Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 2.3 million shares traded versus three month average volume of about 321,000. Shares of MDIV were down about 3.5% on the day.
Components of that ETF with the highest volume on Friday were Ford Motor, trading down about 2.8% with over 38.5 million shares changing hands so far this session, and Carnival, down about 10.6% on volume of over 28.0 million shares. Abbvie is the component faring the best Friday, up by about 1.5% on the day, while Gaslog Partners is lagging other components of the Multi-Asset Diversified Income Index Fund ETF, trading lower by about 12.8%.
VIDEO: Friday's ETF with Unusual Volume: MDIV
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbvie is the component faring the best Friday, up by about 1.5% on the day, while Gaslog Partners is lagging other components of the Multi-Asset Diversified Income Index Fund ETF, trading lower by about 12.8%. The Multi-Asset Diversified Income Index Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 2.3 million shares traded versus three month average volume of about 321,000. Components of that ETF with the highest volume on Friday were Ford Motor, trading down about 2.8% with over 38.5 million shares changing hands so far this session, and Carnival, down about 10.6% on volume of over 28.0 million shares. | Abbvie is the component faring the best Friday, up by about 1.5% on the day, while Gaslog Partners is lagging other components of the Multi-Asset Diversified Income Index Fund ETF, trading lower by about 12.8%. The Multi-Asset Diversified Income Index Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 2.3 million shares traded versus three month average volume of about 321,000. VIDEO: Friday's ETF with Unusual Volume: MDIV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbvie is the component faring the best Friday, up by about 1.5% on the day, while Gaslog Partners is lagging other components of the Multi-Asset Diversified Income Index Fund ETF, trading lower by about 12.8%. The Multi-Asset Diversified Income Index Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 2.3 million shares traded versus three month average volume of about 321,000. Components of that ETF with the highest volume on Friday were Ford Motor, trading down about 2.8% with over 38.5 million shares changing hands so far this session, and Carnival, down about 10.6% on volume of over 28.0 million shares. | Abbvie is the component faring the best Friday, up by about 1.5% on the day, while Gaslog Partners is lagging other components of the Multi-Asset Diversified Income Index Fund ETF, trading lower by about 12.8%. The Multi-Asset Diversified Income Index Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 2.3 million shares traded versus three month average volume of about 321,000. VIDEO: Friday's ETF with Unusual Volume: MDIV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
24585.0 | 2020-05-01 00:00:00 UTC | AbbVie Confirms Standalone 2020 Adj. EPS Guidance - Quick Facts | ABBV | https://www.nasdaq.com/articles/abbvie-confirms-standalone-2020-adj.-eps-guidance-quick-facts-2020-05-01 | nan | nan | (RTTNews) - AbbVie (ABBV) confirmed its previous guidance to deliver standalone adjusted earnings per share for the full-year 2020 of $9.61 to $9.71, representing growth of 8.1 percent at the midpoint. The standalone 2020 adjusted EPS guidance excludes $2.01 per share of intangible asset amortization expense, non-cash charges for contingent consideration adjustments and other specified items.
First quarter adjusted earnings per share was $2.42 compared to $2.14, previous year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $2.25, for the quarter. Analysts' estimates typically exclude special items.
First quarter net revenues Were $8.62 billion, an increase of 10.1 percent on a GAAP Basis, or 10.7 percent operationally. Analysts expected revenue of $8.33 billion for the quarter.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) confirmed its previous guidance to deliver standalone adjusted earnings per share for the full-year 2020 of $9.61 to $9.71, representing growth of 8.1 percent at the midpoint. First quarter adjusted earnings per share was $2.42 compared to $2.14, previous year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $2.25, for the quarter. | (RTTNews) - AbbVie (ABBV) confirmed its previous guidance to deliver standalone adjusted earnings per share for the full-year 2020 of $9.61 to $9.71, representing growth of 8.1 percent at the midpoint. The standalone 2020 adjusted EPS guidance excludes $2.01 per share of intangible asset amortization expense, non-cash charges for contingent consideration adjustments and other specified items. Analysts expected revenue of $8.33 billion for the quarter. | (RTTNews) - AbbVie (ABBV) confirmed its previous guidance to deliver standalone adjusted earnings per share for the full-year 2020 of $9.61 to $9.71, representing growth of 8.1 percent at the midpoint. The standalone 2020 adjusted EPS guidance excludes $2.01 per share of intangible asset amortization expense, non-cash charges for contingent consideration adjustments and other specified items. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $2.25, for the quarter. | (RTTNews) - AbbVie (ABBV) confirmed its previous guidance to deliver standalone adjusted earnings per share for the full-year 2020 of $9.61 to $9.71, representing growth of 8.1 percent at the midpoint. The standalone 2020 adjusted EPS guidance excludes $2.01 per share of intangible asset amortization expense, non-cash charges for contingent consideration adjustments and other specified items. Analysts expected revenue of $8.33 billion for the quarter. |
24586.0 | 2020-05-01 00:00:00 UTC | AbbVie Q1 adjusted earnings Beat Estimates | ABBV | https://www.nasdaq.com/articles/abbvie-q1-adjusted-earnings-beat-estimates-2020-05-01 | nan | nan | (RTTNews) - AbbVie (ABBV) announced a profit for its first quarter that rose from last year.
The company's earnings totaled $3.01 billion, or $2.02 per share. This compares with $2.46 billion, or $1.65 per share, in last year's first quarter.
Excluding items, AbbVie reported adjusted earnings of $3.61 billion or $2.42 per share for the period.
Analysts had expected the company to earn $2.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 10.1% to $8.62 billion from $7.83 billion last year.
AbbVie earnings at a glance:
-Earnings (Q1): $3.61 Bln. vs. $3.19 Bln. last year. -EPS (Q1): $2.42 vs. $2.14 last year. -Analysts Estimate: $2.25 -Revenue (Q1): $8.62 Bln vs. $7.83 Bln last year.
-Guidance: Full year EPS guidance: $9.61 to $9.71
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) announced a profit for its first quarter that rose from last year. Excluding items, AbbVie reported adjusted earnings of $3.61 billion or $2.42 per share for the period. AbbVie earnings at a glance: -Earnings (Q1): $3.61 Bln. | Excluding items, AbbVie reported adjusted earnings of $3.61 billion or $2.42 per share for the period. (RTTNews) - AbbVie (ABBV) announced a profit for its first quarter that rose from last year. AbbVie earnings at a glance: -Earnings (Q1): $3.61 Bln. | (RTTNews) - AbbVie (ABBV) announced a profit for its first quarter that rose from last year. Excluding items, AbbVie reported adjusted earnings of $3.61 billion or $2.42 per share for the period. AbbVie earnings at a glance: -Earnings (Q1): $3.61 Bln. | AbbVie earnings at a glance: -Earnings (Q1): $3.61 Bln. (RTTNews) - AbbVie (ABBV) announced a profit for its first quarter that rose from last year. Excluding items, AbbVie reported adjusted earnings of $3.61 billion or $2.42 per share for the period. |
24587.0 | 2020-05-01 00:00:00 UTC | Abbvie quarterly sales beat as Humira shines; maintains forecast | ABBV | https://www.nasdaq.com/articles/abbvie-quarterly-sales-beat-as-humira-shines-maintains-forecast-2020-05-01 | nan | nan | May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly sales.
The forecast of $9.61 to $9.71 per share in earnings assumes that "stay-at-home" orders will be gradually lifted starting this month in Europe and United States, the company said.
The coronavirus outbreak has led to restrictions on non-essential medical procedures as governments and hospitals mobilize staff and resources to support COVID-19 patients.
AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments because of the pandemic.
The drugmaker, which is expected to close its $63 billion acquisition of Botox-maker Allergan Plc AGN.N later this month, has been launching new drugs to offset some of the expected drop in Humira sales, whose U.S. patent is set to expire in 2023.
Sales of Humira, the world's best selling drug, rose 13.7% in the United States, but fell 14.9% in international markets.
Overall, the drug's sales rose 5.8% to $4.70 billion, beating estimates of $4.42 billion, according to seven analysts polled by Refinitiv.
Sales of new plaque psoriasis drug, Skyrizi, was $300 million, above analysts' estimates of $259.7 million.
AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, beating analysts' estimates of $8.33 billion, according to IBES data from Refinitiv.
Profit rose to $3.01 billion, or $2.02 per share, from $2.45 billion, or $1.65 per share, a year earlier.
(Reporting by Manas Mishra and Vishwadha Chander in Bengaluru; Editing by Anil D'Silva)
((Vishwadha.Chander@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly sales. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments because of the pandemic. AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, beating analysts' estimates of $8.33 billion, according to IBES data from Refinitiv. | May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly sales. AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, beating analysts' estimates of $8.33 billion, according to IBES data from Refinitiv. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments because of the pandemic. | May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly sales. AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, beating analysts' estimates of $8.33 billion, according to IBES data from Refinitiv. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments because of the pandemic. | AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, beating analysts' estimates of $8.33 billion, according to IBES data from Refinitiv. May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly sales. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments because of the pandemic. |
24588.0 | 2020-05-01 00:00:00 UTC | Abbvie stands by 2020 profit forecast as Humira fuels quarterly beat | ABBV | https://www.nasdaq.com/articles/abbvie-stands-by-2020-profit-forecast-as-humira-fuels-quarterly-beat-2020-05-01 | nan | nan | Adds share movement, background on other drugmakers' forecasts, compares profit with estimates
May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly profit and sales.
The forecast of $9.61 to $9.71 per share in full-year earnings assumes that "stay-at-home" orders will be gradually lifted starting this month in Europe and United States, the company said.
But Citi analyst Andrew Baum called out the assumption as "an optimistic assessment", given where we currently stand in terms of tackling the health crisis.
AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments.
Other large drugmakers such as Pfizer inc PFE.N and AstraZeneca AZN.L have also reaffirmed their full-year forecasts as lockdowns lead to stockpiling of medicines and other essentials.
AbbVie also said it had initiated a mid-stage trial of cancer drug Imbruvica, which it jointly sold with Johnson & Johnson JNJ.N, testing it in patients with moderate-to-severe COVID-19.
Imbruvica belongs to a class of drugs known as Bruton's tyrosine kinase (BTK) inhibitors which can suppress autoimmune diseases.
The drugmaker, which is expected to close its $63 billion acquisition of Botox-maker Allergan Plc AGN.N later this month, has been launching new drugs to offset some of the expected drop in Humira sales, whose U.S. patent is set to expire in 2023.
Sales of Humira, the world's best selling drug, rose 13.7% in the United States, but fell 14.9% in international markets.
Overall, the drug's sales rose 5.8% to $4.70 billion, beating estimates of $4.42 billion, according to seven analysts polled by Refinitiv.
Sales of new plaque psoriasis drug, Skyrizi, was $300 million, above analysts' estimates of $259.7 million.
AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, above analysts' estimates of $8.33 billion, according to IBES data from Refinitiv.
Profit rose to $3.01 billion, or $2.02 per share, from $2.45 billion, or $1.65 per share, a year earlier.
Excluding items, the company earned $2.42 per share, beating estimates of $2.25.
Shares of the company rose nearly 1% to $82.95 before the opening bell.
(Reporting by Manas Mishra and Vishwadha Chander in Bengaluru; Editing by Anil D'Silva and Shinjini Ganguli)
((Vishwadha.Chander@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds share movement, background on other drugmakers' forecasts, compares profit with estimates May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly profit and sales. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments. AbbVie also said it had initiated a mid-stage trial of cancer drug Imbruvica, which it jointly sold with Johnson & Johnson JNJ.N, testing it in patients with moderate-to-severe COVID-19. | Adds share movement, background on other drugmakers' forecasts, compares profit with estimates May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly profit and sales. AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, above analysts' estimates of $8.33 billion, according to IBES data from Refinitiv. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments. | Adds share movement, background on other drugmakers' forecasts, compares profit with estimates May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly profit and sales. AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, above analysts' estimates of $8.33 billion, according to IBES data from Refinitiv. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments. | AbbVie's total sales rose 10.1% to $8.62 billion in the first quarter, above analysts' estimates of $8.33 billion, according to IBES data from Refinitiv. Adds share movement, background on other drugmakers' forecasts, compares profit with estimates May 1 (Reuters) - AbbVie Inc ABBV.N stuck with its 2020 adjusted profit forecast on Friday after strong demand for its blockbuster rheumatoid arthritis drug, Humira, helped it beat analysts' estimates for quarterly profit and sales. AbbVie said its total sales for the quarter ended March 31 were also slightly boosted by customers stockpiling its treatments. |
24589.0 | 2020-05-01 00:00:00 UTC | AbbVie Beats Q1 Estimates as U.S. Humira Sales Rise 13.7% | ABBV | https://www.nasdaq.com/articles/abbvie-beats-q1-estimates-as-u.s.-humira-sales-rise-13.7-2020-05-01 | nan | nan | AbbVie (NYSE: ABBV) reported its first-quarter results before the market opened on Friday, announcing revenue that rose 10.1% year over year to $8.62 billion. That result topped the average analysts' estimate of $8.33 billion. The giant drugmaker's adjusted diluted earnings were $2.42 per share, a solid increase from $2.14 per share in the prior-year period, and well above analysts' consensus estimate of $2.25 per share.
Humira still leading the way
Sales of immunology drug Humira rose 5.8% year over year to $4.7 billion and accounted for nearly 55% of AbbVie's total revenue. International sales for the drug slid 14.9% $1.05 billion due to biosimilar competition. However, strength in the U.S. market, where sales jumped 13.7% to $3.7 billion, more than offset that decline.
Image source: Getty Images.
AbbVie's new immunology drugs Skyrizi and Rinvoq also gained significant momentum. Skyrizi generated sales of $300 million in the quarter and Rinvoq raked in $86 million.
Blood cancer drug Imbruvica continued to perform well, with sales soaring 20.6% year over year to $1.2 billion. Sales for another blood cancer drug, Venclexta, more than doubled year over year to $317 million.
One notable weak spot for AbbVie in the first quarter was its hepatitis C virus franchise, where sales plunged 30.8% year over year to $564 million.
Guidance
AbbVie lowered its 2020 earnings per share guidance based on generally accepted accounting principles (GAAP) from a range of $7.66 to $7.76 to a range of $7.60 to $7.70. However, it confirmed its full-year adjusted EPS guidance of between $9.61 and $9.71. The company projects adjusted EPS in the second quarter of between $2.10 and $2.16.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! AbbVie (NYSE: ABBV) reported its first-quarter results before the market opened on Friday, announcing revenue that rose 10.1% year over year to $8.62 billion. Humira still leading the way Sales of immunology drug Humira rose 5.8% year over year to $4.7 billion and accounted for nearly 55% of AbbVie's total revenue. | AbbVie (NYSE: ABBV) reported its first-quarter results before the market opened on Friday, announcing revenue that rose 10.1% year over year to $8.62 billion. Humira still leading the way Sales of immunology drug Humira rose 5.8% year over year to $4.7 billion and accounted for nearly 55% of AbbVie's total revenue. AbbVie's new immunology drugs Skyrizi and Rinvoq also gained significant momentum. | AbbVie (NYSE: ABBV) reported its first-quarter results before the market opened on Friday, announcing revenue that rose 10.1% year over year to $8.62 billion. Humira still leading the way Sales of immunology drug Humira rose 5.8% year over year to $4.7 billion and accounted for nearly 55% of AbbVie's total revenue. One notable weak spot for AbbVie in the first quarter was its hepatitis C virus franchise, where sales plunged 30.8% year over year to $564 million. | AbbVie (NYSE: ABBV) reported its first-quarter results before the market opened on Friday, announcing revenue that rose 10.1% year over year to $8.62 billion. Humira still leading the way Sales of immunology drug Humira rose 5.8% year over year to $4.7 billion and accounted for nearly 55% of AbbVie's total revenue. AbbVie's new immunology drugs Skyrizi and Rinvoq also gained significant momentum. |
24590.0 | 2020-04-30 00:00:00 UTC | Strong Insider Buying Reported in DLN Holdings | ABBV | https://www.nasdaq.com/articles/strong-insider-buying-reported-in-dln-holdings-2020-04-30 | nan | nan | A look at the weighted underlying holdings of the WisdomTree U.S. LargeCap Dividend Fund (DLN) shows an impressive 26.0% of holdings on a weighted basis have experienced insider buying within the past six months.
AbbVie Inc (Symbol: ABBV), which makes up 1.63% of the WisdomTree U.S. LargeCap Dividend Fund (DLN), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $34,505,130 worth of ABBV, making it the #12 largest holding. The table below details the recent insider buying activity observed at ABBV:
ABBV — last trade: $83.76 — Recent Insider Buys:
PURCHASED INSIDER TITLE SHARES PRICE/SHARE VALUE
03/03/2020 Edward J. Rapp Director 2,875 $87.87 $252,617
03/20/2020 Brian L. Durkin VP, Controller 3,750 $68.20 $255,755
03/20/2020 Brian L. Durkin VP, Controller 1,550 $69.00 $106,950
And Simon Property Group, Inc. (Symbol: SPG), the #78 largest holding among components of the WisdomTree U.S. LargeCap Dividend Fund (DLN), shows 7 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $6,526,561 worth of SPG, which represents approximately 0.31% of the ETF's total assets at last check. The recent insider buying activity observed at SPG is detailed in the table below:
SPG — last trade: $68.80 — Recent Insider Buys:
PURCHASED INSIDER TITLE SHARES PRICE/SHARE VALUE
03/17/2020 Reuben S. Leibowitz Director 1,500 $64.88 $97,325
03/19/2020 Larry C. Glasscock Director 10,000 $58.98 $589,788
03/18/2020 J. Albert Smith Jr. Director 1,750 $52.03 $91,052
03/18/2020 Daniel C. Smith Director 921 $53.14 $48,946
03/18/2020 Herbert Simon Director 188,572 $52.67 $9,933,030
03/18/2020 Allan B. Hubbard Director 3,615 $54.81 $198,138
03/18/2020 Reuben S. Leibowitz Director 1,000 $50.15 $50,145
03/18/2020 Stefan M. Selig Director 15,000 $46.17 $692,625
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc (Symbol: ABBV), which makes up 1.63% of the WisdomTree U.S. LargeCap Dividend Fund (DLN), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $34,505,130 worth of ABBV, making it the #12 largest holding. The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $83.76 — Recent Insider Buys: | The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $83.76 — Recent Insider Buys: AbbVie Inc (Symbol: ABBV), which makes up 1.63% of the WisdomTree U.S. LargeCap Dividend Fund (DLN), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $34,505,130 worth of ABBV, making it the #12 largest holding. | The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $83.76 — Recent Insider Buys: AbbVie Inc (Symbol: ABBV), which makes up 1.63% of the WisdomTree U.S. LargeCap Dividend Fund (DLN), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $34,505,130 worth of ABBV, making it the #12 largest holding. | AbbVie Inc (Symbol: ABBV), which makes up 1.63% of the WisdomTree U.S. LargeCap Dividend Fund (DLN), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $34,505,130 worth of ABBV, making it the #12 largest holding. The table below details the recent insider buying activity observed at ABBV: ABBV — last trade: $83.76 — Recent Insider Buys: |
24591.0 | 2020-04-29 00:00:00 UTC | 3 Healthcare Stocks With Solid Dividends to Hold Through Bumpy Times | ABBV | https://www.nasdaq.com/articles/3-healthcare-stocks-with-solid-dividends-to-hold-through-bumpy-times-2020-04-29 | nan | nan | As the coronavirus pandemic continues, investors from every part of the spectrum are looking for safe, stable companies to rely on -- and a nice dividend doesn't hurt. Here are three great healthcare stocks whose dividends are the cherry on top of a great operation.
Start with Johnson & Johnson, the gold standard of healthcare dividend stocks
I love Johnson & Johnson (NYSE: JNJ) as a healthcare dividend giant. It's a diversified company that is built to handle anything thrown at it: lawsuits, pandemic shutdown, zombie apocalypse, whatever.
It's almost as if Johnson & Johnson is an alternate universe, one where pandemics don't seem to matter too much.
The company's first-quarter 2020 numbers, released April 14, show a 3.3% increase in sales (compared with the same quarter a year ago) and a 54.6% rise in net earnings. Its consumer health and pharmaceutical divisions saw 9.2% and 8.7% increases in sales, respectively. The only group where sales slowed was medical devices, which dropped 8.2%.
Image Source: Getty Images.
Johnson & Johnson is also working with Emergent Biosolutions on a contract to help manufacture a vaccine to treat COVID-19.
The company has increased quarterly dividends for 58 years and this month announced it was raising the second-quarter dividend to $1.01 a share, an increase of 6.3% from the first quarter and a solid yield of 2.62% (above the S&P's average yield of about 2%). The only downside is that Johnson & Johnson's dividend yield is more conservative than some other healthcare stocks.
AbbVie is much more than Humira
Pharmaceutical giant AbbVie (NYSE: ABBV) may only have been around since 2013, but that's not stopping it from making money: The company boasted 2019 full-year net revenue of $33.3 billion. About $14.8 billion of that came from its star biologic drug, Humira, but the company expects that number to drop with more biosimilar competition to the drug in Europe and, in 2023, in the United States.
But AbbVie has diversified its drug pipeline well beyond Humira, Two drugs, in particular, stand out after launches last year: Skyrizi, which treats moderate to severe plaque psoriasis in adults, brought in net revenue of $355 million , and Rinvoq, which treats rheumatoid arthritis, brought in $47 million.
AbbVie's acquisition of Allergan, which is likely to be finalized soon, will add to the company's balance sheet and pipeline -- Allergan brings with it drugs including Vraylar (for schizophrenia), Botox and Juvederm (for skin), and Restasis (eye drops). AbbVie's dividend offers a 5.51% annual yield, and the stock is well priced, with a P/E ratio of 16 and a stock price well below its 52-week high of $97.86. Its first-quarter results are due May 1.
The company predicted stand-alone revenue growth on an operational basis of 8% in 2020. That guidance was issued before the pandemic shutdown, but it shows AbbVie is likely in solid shape to have another strong year.
GlaxoSmithKline has its eye on the future
GlaxoSmithKline (NYSE: GSK) has given its investors a little heartache of late, falling to a 52-week low of $31.43 per share on March 23. It has since rebounded more than 36%. The most positive recent news from the company came on April 14, when it announced it was working with Sanofi (NASDAQ: SNY) on a COVID-19 vaccine. And GlaxoSmithKline's dividend yield of 4.73% makes up for any short-term bumps; in fact, it just increased its dividend 21%, to $0.567 a share .
First-quarter results are expected today, and the company has said it expects sales to be slightly down, as decreases in the sales of its established drugs won't be completely made up for by increased sales of its newer drugs. That's not surprising, considering what happened with the world economy during the first quarter; what's notable is that the decline is expected to be slight, showing the essential strength of large healthcare companies with a diversified pharmaceutical pipeline, such as GlaxoSmithKline.
One particular area to watch for GlaxoSmithKline is its stable of new oncology drugs, including belantamab mafodotin, used to treat multiple myeloma (a type of blood cancer), and Zejula, used to treat ovarian cancer. Some of the newer drugs that increased sales last year included Shingrix, a shingles vaccine ($2.3 billion in 2019); Trelegy Ellipta, used to treat a wealth of chronic obstructive pulmonary disease (COPD) symptoms ($642 million); and Juluca, used to fight HIV ($455 million). The company has said it could have as many as six new drugs this year in its oncology, HIV, specialty and respiratory divisions.
Two threads connect all three stocks
All of these stocks have the growth you might expect from a healthcare stock, and because of their strong dividends, they also offer the safety investors may be looking for during a turbulent time in the market. If I had to pick, I'd go with AbbVie, because its short-term business looks as solid as its long-term outlook and it has the best yield of the three. If you're purely looking for safety, Johnson & Johnson is your best bet. Investors will want to wait on GlaxoSmithKline's first-quarter earnings before jumping in.
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Johnson & Johnson wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Jim Halley owns shares of AbbVie, GlaxoSmithKline, and Johnson & Johnson. The Motley Fool owns shares of and recommends Emergent BioSolutions. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie is much more than Humira Pharmaceutical giant AbbVie (NYSE: ABBV) may only have been around since 2013, but that's not stopping it from making money: The company boasted 2019 full-year net revenue of $33.3 billion. But AbbVie has diversified its drug pipeline well beyond Humira, Two drugs, in particular, stand out after launches last year: Skyrizi, which treats moderate to severe plaque psoriasis in adults, brought in net revenue of $355 million , and Rinvoq, which treats rheumatoid arthritis, brought in $47 million. AbbVie's acquisition of Allergan, which is likely to be finalized soon, will add to the company's balance sheet and pipeline -- Allergan brings with it drugs including Vraylar (for schizophrenia), Botox and Juvederm (for skin), and Restasis (eye drops). | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Halley owns shares of AbbVie, GlaxoSmithKline, and Johnson & Johnson. AbbVie is much more than Humira Pharmaceutical giant AbbVie (NYSE: ABBV) may only have been around since 2013, but that's not stopping it from making money: The company boasted 2019 full-year net revenue of $33.3 billion. But AbbVie has diversified its drug pipeline well beyond Humira, Two drugs, in particular, stand out after launches last year: Skyrizi, which treats moderate to severe plaque psoriasis in adults, brought in net revenue of $355 million , and Rinvoq, which treats rheumatoid arthritis, brought in $47 million. | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Halley owns shares of AbbVie, GlaxoSmithKline, and Johnson & Johnson. AbbVie is much more than Humira Pharmaceutical giant AbbVie (NYSE: ABBV) may only have been around since 2013, but that's not stopping it from making money: The company boasted 2019 full-year net revenue of $33.3 billion. But AbbVie has diversified its drug pipeline well beyond Humira, Two drugs, in particular, stand out after launches last year: Skyrizi, which treats moderate to severe plaque psoriasis in adults, brought in net revenue of $355 million , and Rinvoq, which treats rheumatoid arthritis, brought in $47 million. | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Jim Halley owns shares of AbbVie, GlaxoSmithKline, and Johnson & Johnson. AbbVie is much more than Humira Pharmaceutical giant AbbVie (NYSE: ABBV) may only have been around since 2013, but that's not stopping it from making money: The company boasted 2019 full-year net revenue of $33.3 billion. But AbbVie has diversified its drug pipeline well beyond Humira, Two drugs, in particular, stand out after launches last year: Skyrizi, which treats moderate to severe plaque psoriasis in adults, brought in net revenue of $355 million , and Rinvoq, which treats rheumatoid arthritis, brought in $47 million. |
24592.0 | 2020-04-28 00:00:00 UTC | Buy Allergan Stock as Big Pharma’s Biggest Deal Is About to Close | ABBV | https://www.nasdaq.com/articles/buy-allergan-stock-as-big-pharmas-biggest-deal-is-about-to-close-2020-04-28 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Before the novel coronavirus took over pretty much all of the financial headlines, the pharmaceutical industry was buzzing about the takeover of Allergan (NYSE:AGN) by AbbVie (NYSE:ABBV). Since the spread of the virus, Allergan stock has slipped but recovered much of the share-price loss.
Source: madamF/Shutterstock.com
Circumstances are quite different since the initial announcement of the acquisition back in June of last year. It might have been tempting to ignore Allergan in light of the pandemic since the company is famous for manufacturing Botox, which is often used for cosmetic purposes.
Discounting Allergan as the “Botox company” would be a mistake, however. Even with the takeover by AbbVie expected to take place in May, you can still buy Allergan stock shares with confidence. In fact, there’s no time like the present to start a position as this merger is still a pharma-biz game changer.
Two Giants Merge Into One
Even without the expected merger, Allergan is a massive and well-recognized company. The reality is there’s much more to this company than Botox. Allergan provides solutions and treatments for the central nervous system, eye-care and gastroenterology products, along with a broad array of medical-aesthetics products.
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AbbVie also boasts an extensive and diverse product lineup. Just like Allergan is mostly known for Botox, AbbVie is famous for Humira. That’s a drug designed to treat rheumatoid arthritis, plaque psoriasis, Crohn’s disease and other conditions.
The upcoming acquisition will combine the revenue streams generated by the two blockbuster pharmaceutical success stories of Botox and Humira. Plus, the product pipelines of these two giant companies will combine.
AbbVie’s press release from June of 2019 summed up the synergistic value proposition succinctly and compellingly:
“The success and scale of the combined commercial business ensures funding capacity and flexibility for simultaneous robust pipeline investment, debt reduction and capital return to shareholders. The combined companies generated $19 billion in operating cash flow in 2018.”
A Great Deal at Just About Any Price
At the time of the deal’s announcement, some financial gurus might have been amazed that the price tag that AbbVie agreed to pay for Allergan. After all, $63 billion in stock shares and cash isn’t exactly chump change.
However, the acquisition should be viewed as a bargain, as the expected revenue boost is massive. As AbbVie explains, it shouldn’t take long at all before the capital expenditure is recouped:
“This transaction is expected to be 10% accretive to adjusted earnings per share over the first full year following the close of the transaction, with peak accretion of greater than 20%. ROIC is expected to exceed AbbVie’s cost of capital within the first full year.”
With the value proposition ensured, there was little if any reason to prevent the deal from proceeding. However, life isn’t always as simple as it ought to be. Deals of this magnitude have to be approved by the government.
The Green Light, at Long Last
It took a long time, but in March of this year it was finally announced that AbbVie had entered into a consent-decree agreement with the United States Federal Trade Commission in regard to the Allergan buyout. It’s because of this agreement that the two companies can confidently expect the deal to close in May.
In layman’s terms, the consent decree is the two companies’ agreement to agree to the government’s demands. And the main demand is that the combined post-merger company can’t be too big. Hence, AbbVie/Allergan agreed to give a few of its products:
“Under the terms of the consent decree, the companies have agreed to divest brazikumab, an investigational IL-23 inhibitor in development for autoimmune diseases, to AstraZeneca and Zenpep, a treatment for exocrine pancreatic insufficiency due to cystic fibrosis and other conditions, to Nestle. Nestle also will be acquiring Viokace, another pancreatic enzyme preparation, as part of the same transaction.”
All things considered, those are pretty small concessions to make. It’s not as if AbbVie/Allergan relied heavily on brazikumab, Zenpep or Viokace. Investors should be thankful that they didn’t have to give up Humera or Botox.
The Final Word on Allergan Stock
It was a long time in the making, no doubt about it. But don’t let distractions prevent you from appreciating the significance of this acquisition. There’s no need to wait until it’s in the rear-view mirror, as Allergan stock is absolutely worth buying before the deal goes through.
Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.
The post Buy Allergan Stock as Big Pharma’s Biggest Deal Is About to Close appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie’s press release from June of 2019 summed up the synergistic value proposition succinctly and compellingly: “The success and scale of the combined commercial business ensures funding capacity and flexibility for simultaneous robust pipeline investment, debt reduction and capital return to shareholders. ROIC is expected to exceed AbbVie’s cost of capital within the first full year.” With the value proposition ensured, there was little if any reason to prevent the deal from proceeding. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Before the novel coronavirus took over pretty much all of the financial headlines, the pharmaceutical industry was buzzing about the takeover of Allergan (NYSE:AGN) by AbbVie (NYSE:ABBV). | Even with the takeover by AbbVie expected to take place in May, you can still buy Allergan stock shares with confidence. The combined companies generated $19 billion in operating cash flow in 2018.” A Great Deal at Just About Any Price At the time of the deal’s announcement, some financial gurus might have been amazed that the price tag that AbbVie agreed to pay for Allergan. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Before the novel coronavirus took over pretty much all of the financial headlines, the pharmaceutical industry was buzzing about the takeover of Allergan (NYSE:AGN) by AbbVie (NYSE:ABBV). | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Before the novel coronavirus took over pretty much all of the financial headlines, the pharmaceutical industry was buzzing about the takeover of Allergan (NYSE:AGN) by AbbVie (NYSE:ABBV). The combined companies generated $19 billion in operating cash flow in 2018.” A Great Deal at Just About Any Price At the time of the deal’s announcement, some financial gurus might have been amazed that the price tag that AbbVie agreed to pay for Allergan. Hence, AbbVie/Allergan agreed to give a few of its products: “Under the terms of the consent decree, the companies have agreed to divest brazikumab, an investigational IL-23 inhibitor in development for autoimmune diseases, to AstraZeneca and Zenpep, a treatment for exocrine pancreatic insufficiency due to cystic fibrosis and other conditions, to Nestle. | Even with the takeover by AbbVie expected to take place in May, you can still buy Allergan stock shares with confidence. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Before the novel coronavirus took over pretty much all of the financial headlines, the pharmaceutical industry was buzzing about the takeover of Allergan (NYSE:AGN) by AbbVie (NYSE:ABBV). 7 Stocks to Buy for Their Double-Digit Growth Prospects AbbVie also boasts an extensive and diverse product lineup. |
24593.0 | 2020-04-28 00:00:00 UTC | 3 Dividend Stocks Yielding More Than 5% That Are Safe Buys Right Now | ABBV | https://www.nasdaq.com/articles/3-dividend-stocks-yielding-more-than-5-that-are-safe-buys-right-now-2020-04-28 | nan | nan | The higher a dividend yield is, the riskier the dividend is? This rule of thumb is applicable in many cases. Some stocks have really high dividend yields because there's an underlying problem that caused share prices to fall significantly. Those problems, at least in some cases, could eventually cause the dividends to be slashed.
But the rule of thumb isn't true for every dividend stock. Here are three dividend stocks with high yields (5% or more) that are safe buys right now.
Image source: Getty Images.
1. AbbVie
AbbVie (NYSE: ABBV) currently offers a dividend yield of more than 5.6%. The big drugmaker's dividend program boasts an impeccable history. AbbVie has increased its dividend for 47 consecutive years. And since being spun off from Abbott Labs in 2013, those dividend hikes have been quite substantial, with a total dividend increase of 195%.
But isn't AbbVie a high risk with its top-selling drug Humira facing biosimilar competition in Europe with more biosimilar rivals on the way in the U.S. within the next three years? I don't think so. The company has been making moves for years to lower its reliance on Humira.
One key part of that strategy was introducing new drugs. AbbVie's acquisition of Pharmacyclics in 2015 brought blockbuster cancer drug Imbruvica into its lineup. The company's internal research and development is also paying off nicely, with AbbVie launching two immunology drugs with blockbuster potential last year -- Rinvoq and Skyrizi.
AbbVie expects to wrap up another acquisition soon that will diversify its revenue even more. The company recently struck a deal with the Federal Trade Commission that should clear the way for it to close its pending acquisition of Allergan in May. The deal will give AbbVie several products with rising sales, notably including Botox and antipsychotic drug Vraylar.
2. AT&T
Like AbbVie, AT&T (NYSE: T) is a member of the Dividend Aristocrats club, an elite group of S&P 500 stocks that have raised their dividends for at least 25 years. AT&T's streak of dividend hikes now stands 36 years in a row. And its dividend yield of 7% is sure to make investors' mouths water.
To be sure, AT&T faces some challenges. Its television business continues to struggle mightily. The company has lost TV subscribers for seven consecutive quarters. AT&T even lost streaming customers in the first quarter of 2020 when many people were stuck at home due to shelter-in-place orders and increased their overall streaming usage.
However, this issue doesn't make AT&T an unsafe stock to buy. For one thing, its TV unit remains profitable. The company also will launch its new HBO Max streaming service in May.
More importantly, though, AT&T's wireless business continues to perform well. Its wireless network has been named as the best network in the U.S. and the fastest network for five quarters in a row. With greater opportunities ahead as 5G networks are adopted, AT&T should be able to keep its wireless momentum going.
3. Brookfield Infrastructure Partners/Brookfield Infrastructure Corporation
I've included both Brookfield Infrastructure Partners (NYSE: BIP) and Brookfield Infrastructure Corporation (NYSE: BIPC) on the list of safe high-yield dividend stock to buy. Brookfield Infrastructure Partners recently conducted a unique kind of stock split to give investors an alternative to buy shares of a corporation instead of a limited partnership, which comes with some tax implications. Brookfield Infrastructure Corporation is a subsidiary of Bookfield Infrastructure Partners, with the two companies economically equivalent.
Regardless of which of these two stocks you buy, you'll get a great dividend yield of nearly 5.8%. You'll also own part of a strong infrastructure business that should deliver solid total returns for a long time to come.
Brookfield Infrastructure owns and operates infrastructure assets that are highly diversified across sectors and geographical regions. These assets include cell towers, data centers, electricity distribution systems, natural gas pipelines, railroads, toll roads, and more. They're the kinds of infrastructure assets that rake in money regularly in good economic times and when times aren't so great.
The long-term growth prospects for Brookfield Infrastructure looks attractive. The company continually evaluates its assets and sells off lower-performing ones to reinvest into new assets with the potential to generate higher returns. Brookfield Infrastructure even refers to itself as a "grow-tility" -- combining the relatively safety of a utility company with stronger growth prospects that most utilities offer.
I think both of the stocks under the Brookfield Infrastructure umbrella are great picks for investors seeking high yields that they don't have to worry about.
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Brookfield Infrastructure Partners wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Keith Speights owns shares of AbbVie, Brookfield Infrastructure, and Brookfield Infrastructure Partners. The Motley Fool recommends Brookfield Infrastructure and Brookfield Infrastructure Partners. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The company's internal research and development is also paying off nicely, with AbbVie launching two immunology drugs with blockbuster potential last year -- Rinvoq and Skyrizi. AbbVie AbbVie (NYSE: ABBV) currently offers a dividend yield of more than 5.6%. AbbVie has increased its dividend for 47 consecutive years. | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie, Brookfield Infrastructure, and Brookfield Infrastructure Partners. AbbVie AbbVie (NYSE: ABBV) currently offers a dividend yield of more than 5.6%. AbbVie has increased its dividend for 47 consecutive years. | Like AbbVie, AT&T (NYSE: T) is a member of the Dividend Aristocrats club, an elite group of S&P 500 stocks that have raised their dividends for at least 25 years. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie, Brookfield Infrastructure, and Brookfield Infrastructure Partners. AbbVie AbbVie (NYSE: ABBV) currently offers a dividend yield of more than 5.6%. | AbbVie has increased its dividend for 47 consecutive years. AbbVie AbbVie (NYSE: ABBV) currently offers a dividend yield of more than 5.6%. But isn't AbbVie a high risk with its top-selling drug Humira facing biosimilar competition in Europe with more biosimilar rivals on the way in the U.S. within the next three years? |
24594.0 | 2020-04-28 00:00:00 UTC | The AbbVie Buyout is Not a Sure Thing for Allergan Stock Investors | ABBV | https://www.nasdaq.com/articles/the-abbvie-buyout-is-not-a-sure-thing-for-allergan-stock-investors-2020-04-28 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Prior to the novel coronavirus disrupting everything, pharmaceutical companies Allergan (NYSE:AGN) and AbbVie (NYSE:ABBV) enjoyed a strong start to the new year. As Barron’s Josh Nathan-Kazis pointed out, prior to the pandemic, AbbVie’s $63 billion acquisition of Botox-maker Allergan represented the biggest news in the sector. This deal is expected to close next month. However, the coronavirus casts a cloud of uncertainty over the process and therefore, Allergan stock.
Source: Shutterstock
Let’s first discuss the low-hanging fruit. Because Covid-19 has essentially touched every corner of the globe, the world economy has shut down. This is especially apparent in the U.S., where our industries and businesses both large and small have closed their doors. Recently, CNBC reported that jobless claims hit 4.4 million. That brings the five-week total to more than 26 million.
While this horrific figure doesn’t directly impact Allergan stock, it demonstrates that Americans’ efforts are focused on surviving. Everything else is a very distant second place.
However, what the coronavirus did do to the pharmaceutical space is eliminate most of the positive sentiment over the AbbVie-Allergan deal. Prior to our new normal, the synergies for the buyout were readily apparent. For instance, everyone is familiar with AbbVie for its Humira drug, what the Chicago Tribune called the Swiss army knife of pharmaceutical drugs — “One drug. Nine conditions.”
But the big knock on ABBV is that Humira is a drug long in the tooth. However, with Allergan’s assets, such as the aforementioned Botox and the antipsychotic drug Vraylar, the combined entity would be a real threat.
Now, the pharma environment favors companies like Gilead Sciences (NASDAQ:GILD) and Johnson & Johnson (NYSE:JNJ), which have coronavirus catalysts. This leaves some questions for the suddenly less-relevant Allergan stock.
30 Consumer Stocks to Buy Once the Coronavirus Pandemic Passes
A Tailwind Gets Nasty for Allergan Stock
According to Barron’s, an AbbVie spokesperson stated in March that the Allergan buyout will likely go ahead. On the other hand, Allergan has not commented on the deal. I’m not reading too much into that. However, I’m not sure if the acquisition makes senses at this time.
With AbbVie’s Humira, the drug mostly addresses arthritis symptoms and conditions like Crohn’s disease. And Botox, while incredibly popular with well-heeled clients, is not exactly what you would call a relevant procedure.
Earlier in April, I wrote about ABBV and took a cautionary approach. While AbbVie has a drug called Kaletra that could be used to treat Covid-19, the trial data isn’t encouraging. More importantly, AbbVie drives much revenue from cancer and other serious diseases. But those patients are taking a backseat while hospitals work around the clock to serve Covid-19 patients.
This is also the reason why ABBV buying out Allergan stock is risky. While Allergan has multiple assets to reinvigorate AbbVie’s portfolio, Allergan to my knowledge isn’t a significant player in the fight against the coronavirus.
To be honest, no one is thinking about Botox and other cosmetic procedures. Look, we’re still in a situation where most people can’t even get a haircut. On the positive end, we have material for an endless array of hilarious memes. But practically speaking, no one wants to risk going outside for non-essential purposes.
According to a Kaiser Family Foundation Health poll, eight in 10 Americans favor strict shelter-in-place orders to limit infections. In other words, more so than a return to normalcy or even a stable economy, Americans are prioritizing their health.
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Collectively, that’s what you want to hear. But for Allergan stock, it has the opposite effect.
Another Big Unknown
Personally, I admit that I’m getting frustrated with White House health adviser Dr. Anthony Fauci. Of course, I appreciate that the doctor means well. However, these prolonged shutdowns that he’s recommending are killing the economy. And if the economy dies, that means we’ll see many Americans die from acts of despair, such as suicide.
But recently, Dr. Fauci warned that the coronavirus could strike again in the fall. Perhaps the second go-round may have a deadlier effect due to the colder weather. Whatever the case, we’ve already set a dangerous precedent: in order to save a million or two Americans, we’ll sacrifice the well being and/or the future of the other 300 million or so citizens and legal residents.
If that happens, I don’t see what the point of having Allergan’s assets would be, unless the company evolves into an infectious disease leader. With such a big unknown risk, along with already evident headwinds, I would sideline Allergan stock.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. As of this writing, he did not hold a position in any of the aforementioned securities.
The post The AbbVie Buyout is Not a Sure Thing for Allergan Stock Investors appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As Barron’s Josh Nathan-Kazis pointed out, prior to the pandemic, AbbVie’s $63 billion acquisition of Botox-maker Allergan represented the biggest news in the sector. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Prior to the novel coronavirus disrupting everything, pharmaceutical companies Allergan (NYSE:AGN) and AbbVie (NYSE:ABBV) enjoyed a strong start to the new year. However, what the coronavirus did do to the pharmaceutical space is eliminate most of the positive sentiment over the AbbVie-Allergan deal. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Prior to the novel coronavirus disrupting everything, pharmaceutical companies Allergan (NYSE:AGN) and AbbVie (NYSE:ABBV) enjoyed a strong start to the new year. As Barron’s Josh Nathan-Kazis pointed out, prior to the pandemic, AbbVie’s $63 billion acquisition of Botox-maker Allergan represented the biggest news in the sector. However, what the coronavirus did do to the pharmaceutical space is eliminate most of the positive sentiment over the AbbVie-Allergan deal. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Prior to the novel coronavirus disrupting everything, pharmaceutical companies Allergan (NYSE:AGN) and AbbVie (NYSE:ABBV) enjoyed a strong start to the new year. 30 Consumer Stocks to Buy Once the Coronavirus Pandemic Passes A Tailwind Gets Nasty for Allergan Stock According to Barron’s, an AbbVie spokesperson stated in March that the Allergan buyout will likely go ahead. While Allergan has multiple assets to reinvigorate AbbVie’s portfolio, Allergan to my knowledge isn’t a significant player in the fight against the coronavirus. | 30 Consumer Stocks to Buy Once the Coronavirus Pandemic Passes A Tailwind Gets Nasty for Allergan Stock According to Barron’s, an AbbVie spokesperson stated in March that the Allergan buyout will likely go ahead. This is also the reason why ABBV buying out Allergan stock is risky. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Prior to the novel coronavirus disrupting everything, pharmaceutical companies Allergan (NYSE:AGN) and AbbVie (NYSE:ABBV) enjoyed a strong start to the new year. |
24595.0 | 2020-04-27 00:00:00 UTC | Dr. Reddy's Labs Launches Fenofibrate Tablets In U.S. | ABBV | https://www.nasdaq.com/articles/dr.-reddys-labs-launches-fenofibrate-tablets-in-u.s.-2020-04-27 | nan | nan | (RTTNews) - Dr. Reddy's Laboratories Ltd. (RDY) announced Monday the launch of Fenofibrate Tablets USP, a therapeutic equivalent generic version of Tricor (fenofibrate) Tablets, in the U.S. market.
The Fenofibrate Tablets are approved by the U.S. Food and Drug Administration.
Dr. Reddy's Fenofibrate Tablets USP, are available in 54 mg dose in bottle count size of 90 and 160 mg dose in bottle count sizes of 90 and 500.
The company noted that AbbVie Inc.'s Tricor brand and generic had U.S. sales of approximately $90 million MAT for the twelve months ending in January 2020 according to IQVIA Health.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The company noted that AbbVie Inc.'s Tricor brand and generic had U.S. sales of approximately $90 million MAT for the twelve months ending in January 2020 according to IQVIA Health. (RTTNews) - Dr. Reddy's Laboratories Ltd. (RDY) announced Monday the launch of Fenofibrate Tablets USP, a therapeutic equivalent generic version of Tricor (fenofibrate) Tablets, in the U.S. market. Dr. Reddy's Fenofibrate Tablets USP, are available in 54 mg dose in bottle count size of 90 and 160 mg dose in bottle count sizes of 90 and 500. | The company noted that AbbVie Inc.'s Tricor brand and generic had U.S. sales of approximately $90 million MAT for the twelve months ending in January 2020 according to IQVIA Health. (RTTNews) - Dr. Reddy's Laboratories Ltd. (RDY) announced Monday the launch of Fenofibrate Tablets USP, a therapeutic equivalent generic version of Tricor (fenofibrate) Tablets, in the U.S. market. The Fenofibrate Tablets are approved by the U.S. Food and Drug Administration. | The company noted that AbbVie Inc.'s Tricor brand and generic had U.S. sales of approximately $90 million MAT for the twelve months ending in January 2020 according to IQVIA Health. (RTTNews) - Dr. Reddy's Laboratories Ltd. (RDY) announced Monday the launch of Fenofibrate Tablets USP, a therapeutic equivalent generic version of Tricor (fenofibrate) Tablets, in the U.S. market. Dr. Reddy's Fenofibrate Tablets USP, are available in 54 mg dose in bottle count size of 90 and 160 mg dose in bottle count sizes of 90 and 500. | The company noted that AbbVie Inc.'s Tricor brand and generic had U.S. sales of approximately $90 million MAT for the twelve months ending in January 2020 according to IQVIA Health. (RTTNews) - Dr. Reddy's Laboratories Ltd. (RDY) announced Monday the launch of Fenofibrate Tablets USP, a therapeutic equivalent generic version of Tricor (fenofibrate) Tablets, in the U.S. market. The Fenofibrate Tablets are approved by the U.S. Food and Drug Administration. |
24596.0 | 2020-04-27 00:00:00 UTC | Analysts See 15% Gains Ahead For EQWL | ABBV | https://www.nasdaq.com/articles/analysts-see-15-gains-ahead-for-eqwl-2020-04-27 | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Invesco S&P 100 Equal Weight ETF (Symbol: EQWL), we found that the implied analyst target price for the ETF based upon its underlying holdings is $59.90 per unit.
With EQWL trading at a recent price near $52.04 per unit, that means that analysts see 15.10% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of EQWL's underlying holdings with notable upside to their analyst target prices are AT&T Inc (Symbol: T), Emerson Electric Co. (Symbol: EMR), and AbbVie Inc (Symbol: ABBV). Although T has traded at a recent price of $29.71/share, the average analyst target is 19.39% higher at $35.47/share. Similarly, EMR has 16.91% upside from the recent share price of $53.82 if the average analyst target price of $62.92/share is reached, and analysts on average are expecting ABBV to reach a target price of $96.33/share, which is 15.24% above the recent price of $83.59. Below is a twelve month price history chart comparing the stock performance of T, EMR, and ABBV:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
Invesco S&P 100 Equal Weight ETF EQWL $52.04 $59.90 15.10%
AT&T Inc T $29.71 $35.47 19.39%
Emerson Electric Co. EMR $53.82 $62.92 16.91%
AbbVie Inc ABBV $83.59 $96.33 15.24%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Invesco S&P 100 Equal Weight ETF EQWL $52.04 $59.90 15.10% AT&T Inc T $29.71 $35.47 19.39% Emerson Electric Co. EMR $53.82 $62.92 16.91% AbbVie Inc ABBV $83.59 $96.33 15.24% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of EQWL's underlying holdings with notable upside to their analyst target prices are AT&T Inc (Symbol: T), Emerson Electric Co. (Symbol: EMR), and AbbVie Inc (Symbol: ABBV). Similarly, EMR has 16.91% upside from the recent share price of $53.82 if the average analyst target price of $62.92/share is reached, and analysts on average are expecting ABBV to reach a target price of $96.33/share, which is 15.24% above the recent price of $83.59. | Three of EQWL's underlying holdings with notable upside to their analyst target prices are AT&T Inc (Symbol: T), Emerson Electric Co. (Symbol: EMR), and AbbVie Inc (Symbol: ABBV). Similarly, EMR has 16.91% upside from the recent share price of $53.82 if the average analyst target price of $62.92/share is reached, and analysts on average are expecting ABBV to reach a target price of $96.33/share, which is 15.24% above the recent price of $83.59. Below is a twelve month price history chart comparing the stock performance of T, EMR, and ABBV: Below is a summary table of the current analyst target prices discussed above: | Similarly, EMR has 16.91% upside from the recent share price of $53.82 if the average analyst target price of $62.92/share is reached, and analysts on average are expecting ABBV to reach a target price of $96.33/share, which is 15.24% above the recent price of $83.59. Three of EQWL's underlying holdings with notable upside to their analyst target prices are AT&T Inc (Symbol: T), Emerson Electric Co. (Symbol: EMR), and AbbVie Inc (Symbol: ABBV). Below is a twelve month price history chart comparing the stock performance of T, EMR, and ABBV: Below is a summary table of the current analyst target prices discussed above: | Invesco S&P 100 Equal Weight ETF EQWL $52.04 $59.90 15.10% AT&T Inc T $29.71 $35.47 19.39% Emerson Electric Co. EMR $53.82 $62.92 16.91% AbbVie Inc ABBV $83.59 $96.33 15.24% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of EQWL's underlying holdings with notable upside to their analyst target prices are AT&T Inc (Symbol: T), Emerson Electric Co. (Symbol: EMR), and AbbVie Inc (Symbol: ABBV). Similarly, EMR has 16.91% upside from the recent share price of $53.82 if the average analyst target price of $62.92/share is reached, and analysts on average are expecting ABBV to reach a target price of $96.33/share, which is 15.24% above the recent price of $83.59. |
24597.0 | 2020-04-27 00:00:00 UTC | Why You Can Buy AbbVie At a Massive Discount | ABBV | https://www.nasdaq.com/articles/why-you-can-buy-abbvie-at-a-massive-discount-2020-04-27 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Even though AbbVie’s (NYSE:ABBV) combo HIV drug does not benefit patients suffering from severe Covid-19, the company has an impending buyout of Allergan (NYSE:AGN) and strong growth ahead. But with a rich dividend yield of nearly 6% and a low price-earnings ratio, investors should expect steady growth for years to come from ABBV stock.
Source: Piotr Swat / Shutterstock.com
In the fourth quarter, AbbVie’s profits grew by more than 16% to $2.21 a share (adjusted). In 2020, the company previously forecast its Skyrizi and Rinvoq products will add more than $1 billion in revenue. It raised that target to $1.7 billion in revenue.
With its guidance up 70%, chances are good that sales for these two products will exceed management expectations again in 2021. The company said that “the better-than-expected launch trajectories of Skyrizi and Rinvoq and the continued strong performance of our hematological oncology franchise has further increased our level of confidence that these platforms will drive significant growth over the long term.”
AbbVie’s extensive research and development efforts will continue to pay off in the years ahead. Already, such activities resulted in many new products that added around $9 billion in revenue in 2019. Expanded research for Skyrizi and Rinvoq and results for its programs will surely get investors more interested in ABBV stock.
AbbVie’s Rich Pipeline
AbbVie has nearly 40 ongoing clinical studies. Its most advanced program, ABBV-951 for the treatment of Parkinson’s disease, may gain regulatory approval. That will add to its already deep pipeline of products. Veliparib (ABT-888), which treats ovarian cancer and BRCA breast cancer (BRCA refers to the BRCA1 and BRCA2 genes) is another big opportunity.
AbbVie has 30 proof-of-concept programs at various phases in the pipeline. So, when it adds the planned acquisition of Allergan to the business, it will build a lead in the central nervous system, neuroscience, and aesthetics markets.
The Rinvoq Phase 3 study for treating psoriatic arthritis is a notable contributor to future results. Management said that “psoriatic arthritis and ankylosing spondylitis make up an important segment of the rheumatology market withglobal marketsales of approximately $14 billion.”
In the irritable bowel disease segment, which includes Crohn’s disease and ulcerative colitis, AbbVie forecastsglobal marketsales topping nearly $18 billion.
Opportunity with Allergan Acquisition
AbbVie raised its expectations for Allergan after the company posted strong quarterly results. It reported fourth-quarter revenue of $4.35 billion, up 6.6% from the previous year. This is despite Allergan lowering R&D expenses by 33.3%.
Looking ahead, AbbVie has plenty of cash flow to re-accelerate R&D activities. It is also confident that it will find $2 billion in synergies. When the two businesses are combined, investors will get a company having multiple durable positions in eight franchises. The four growth franchises will be “immunology, hematological, oncology, medical aesthetics, and the central nervous system/neuroscience division.
AbbVie’s history of building leadership positions suggests that its growth rate will increase steadily over the next few years.
Valuation of ABBV
In addition to the high value, quality, and sentiment scores according to Stock Rover, ABBV stock has a fair value of $110. Investors should forecast revenue growth by at least 5% over the next five years.
With that revenue growth estimate, a five-year discounted cash flow growth exit model would suggest the stock is worth nearly $95 a share.
Chances are low that ABBV stock will revisit its $65 March low any time soon, unless markets sell off, which is unlikely since the Fed is pouring trillions to buy assets. The increased liquidity and lack of risks will encourage investors to buy proven companies like AbbVie.
Plus, after the Allergan deal closes, the company’s cash flow growth will be more than enough to pay down the debt.
Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities.
The post Why You Can Buy AbbVie At a Massive Discount appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | But with a rich dividend yield of nearly 6% and a low price-earnings ratio, investors should expect steady growth for years to come from ABBV stock. The company said that “the better-than-expected launch trajectories of Skyrizi and Rinvoq and the continued strong performance of our hematological oncology franchise has further increased our level of confidence that these platforms will drive significant growth over the long term.” AbbVie’s extensive research and development efforts will continue to pay off in the years ahead. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Even though AbbVie’s (NYSE:ABBV) combo HIV drug does not benefit patients suffering from severe Covid-19, the company has an impending buyout of Allergan (NYSE:AGN) and strong growth ahead. | Opportunity with Allergan Acquisition AbbVie raised its expectations for Allergan after the company posted strong quarterly results. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Even though AbbVie’s (NYSE:ABBV) combo HIV drug does not benefit patients suffering from severe Covid-19, the company has an impending buyout of Allergan (NYSE:AGN) and strong growth ahead. But with a rich dividend yield of nearly 6% and a low price-earnings ratio, investors should expect steady growth for years to come from ABBV stock. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Even though AbbVie’s (NYSE:ABBV) combo HIV drug does not benefit patients suffering from severe Covid-19, the company has an impending buyout of Allergan (NYSE:AGN) and strong growth ahead. The company said that “the better-than-expected launch trajectories of Skyrizi and Rinvoq and the continued strong performance of our hematological oncology franchise has further increased our level of confidence that these platforms will drive significant growth over the long term.” AbbVie’s extensive research and development efforts will continue to pay off in the years ahead. Opportunity with Allergan Acquisition AbbVie raised its expectations for Allergan after the company posted strong quarterly results. | Opportunity with Allergan Acquisition AbbVie raised its expectations for Allergan after the company posted strong quarterly results. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Even though AbbVie’s (NYSE:ABBV) combo HIV drug does not benefit patients suffering from severe Covid-19, the company has an impending buyout of Allergan (NYSE:AGN) and strong growth ahead. But with a rich dividend yield of nearly 6% and a low price-earnings ratio, investors should expect steady growth for years to come from ABBV stock. |
24598.0 | 2020-04-26 00:00:00 UTC | Myovant Squares Off with AbbVie On Endometriosis Treatment | ABBV | https://www.nasdaq.com/articles/myovant-squares-off-with-abbvie-on-endometriosis-treatment-2020-04-26 | nan | nan | Myovant Sciences (NYSE: MYOV) fired a shot across the bow of AbbVie (NYSE: ABBV) when it released phase 3 clinical trial results on April 22. The study evaluating relugolix as a treatment for pain caused by endometriosis met two co-primary endpoints and a slate of secondary endpoints. Relugolix has clearly pointed its crosshairs on AbbVie's Orilissa, approved by the Food and Drug Administration (FDA) in 2018.
The painful condition of endometriosis is caused when tissue similar to the lining of the uterus grows outside of the uterus, according to the Mayo Clinic. The pain, which can be severe, is often exacerbated during the menstrual cycle. Endometriosis can also lead to fertility problems. The Endometriosis Foundation of America says up to 10 million women in the U.S. and 200 million worldwide live with endometriosis.
Image Source: Getty Images
High stakes
AbbVie's Orilissa posted $93 million in 2019 sales with $91 million coming from the U.S. market. This was its first full year on the market, so it will likely grow considerably as reimbursement challenges get worked out.
Market research firm GlobalData noted in a mid-2019 report that Orilissa sales could reach $1.58 billion for endometriosis-related pain and $985 million for bleeding with uterine fibroids in 2027. The same report projects relugolix revenues in 2028 of $1 billion and $700 million for the two indications.
The trial results
Myovant's phase 3 "Spirit 2" trial enrolled 612 patients with moderate-to-severe pain in women with surgically diagnosed endometriosis. The three-arm study evaluated relugolix combined with estradiol and norethindrone acetate to placebo over 24 weeks. The third arm tested relugolix by itself for the first 12 weeks followed by the combination for the second 12 weeks. The co-primary endpoints of the study were a reduction of pain in dysmenorrhea (menstrual cramps) and non-menstrual pelvic pain.
For the menstrual cramp endpoint, 75.2% of women receiving the relugolix combo achieved a response compared to 30.4% on placebo. On average, pain was reduced by 75.1%, shifting from severe to mild.
For the non-menstrual pelvic pain endpoint, 66% of relugolix combo-treated women achieved a response compared to 42.6% in the placebo group. Relugolix treatment also met six secondary endpoints including reduction in use of opioids and analgesics. At the start of the trial, 48% of the subjects took opioids to control pain.
How does it compare?
Now, let's see how it stacks up to Orilissa. First, Orilissa can be dosed at 150mg once a day or 200mg twice daily. One quick and important caveat: The drugs were not tested head-to-head in the same trial. Variations between the trials could be responsible for some differences.
Orilissa achieved response rates of 42.1% and 46.2% for once-daily dosing in menstrual cramp pain. The twice-daily dose response rates rose to 75.3% and 76.9%. Therefore, once-daily relugolix beats once-a-day Orilissa treatment and is on par with twice-daily Orilissa.
Looking at effects on non-menstrual pelvic pain, relugolix's 66% response rate proved superior to once-daily Orilissa's response rates of 45.7% and 51.6%. Again, it basically acts about the same to twice-daily Orilissa, which posted response rates of 62.1% and 62.2%.
The FDA's approval of Orilissa came with a warning for a dose-dependent decrease in bone-mineral density. Greater bone loss was observed in patients on therapy longer. Importantly, the bone loss may not be reversible after stopping treatment. Relugolix-treated patients had minimal bone-density loss. The decrease over 24 weeks was 0.78%. In comparison, twice-daily Orilissa, the dose with comparable efficacy to relugolix, had bone-mineral density loss of 2.61% and 2.49%.
Relugolix appears to have equal efficacy to twice-daily Orilissa. While the once-a-day dosing may be more convenient, being less detrimental in regards to irreversible bone-mineral density loss could be the biggest differentiating factor.
Orilissa's head start in the market could prove favorable for relugolix. Myovant will be able to ride the coattails of AbbVie's efforts to raise awareness among doctors, payers, and patients on the need and value proposition for drugs like these.
Myovant plans to report this quarter from its confirmatory phase 3 "Spirit 1" trial. If that succeeds, then expect the company to quickly seek FDA approval. Biotech investors will want to stay tuned for those results.
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David Haen has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Myovant will be able to ride the coattails of AbbVie's efforts to raise awareness among doctors, payers, and patients on the need and value proposition for drugs like these. Myovant Sciences (NYSE: MYOV) fired a shot across the bow of AbbVie (NYSE: ABBV) when it released phase 3 clinical trial results on April 22. Relugolix has clearly pointed its crosshairs on AbbVie's Orilissa, approved by the Food and Drug Administration (FDA) in 2018. | Myovant Sciences (NYSE: MYOV) fired a shot across the bow of AbbVie (NYSE: ABBV) when it released phase 3 clinical trial results on April 22. Relugolix has clearly pointed its crosshairs on AbbVie's Orilissa, approved by the Food and Drug Administration (FDA) in 2018. Image Source: Getty Images High stakes AbbVie's Orilissa posted $93 million in 2019 sales with $91 million coming from the U.S. market. | Myovant Sciences (NYSE: MYOV) fired a shot across the bow of AbbVie (NYSE: ABBV) when it released phase 3 clinical trial results on April 22. Relugolix has clearly pointed its crosshairs on AbbVie's Orilissa, approved by the Food and Drug Administration (FDA) in 2018. Image Source: Getty Images High stakes AbbVie's Orilissa posted $93 million in 2019 sales with $91 million coming from the U.S. market. | Myovant Sciences (NYSE: MYOV) fired a shot across the bow of AbbVie (NYSE: ABBV) when it released phase 3 clinical trial results on April 22. Relugolix has clearly pointed its crosshairs on AbbVie's Orilissa, approved by the Food and Drug Administration (FDA) in 2018. Image Source: Getty Images High stakes AbbVie's Orilissa posted $93 million in 2019 sales with $91 million coming from the U.S. market. |
24599.0 | 2020-04-26 00:00:00 UTC | 3 Dividend Stocks I'd Buy Right Now | ABBV | https://www.nasdaq.com/articles/3-dividend-stocks-id-buy-right-now-2020-04-26 | nan | nan | More than 4,000 stocks that trade on U.S. stock exchanges pay dividends. Not all of them necessarily pay mouthwatering dividends, though. And many of them aren't ones that you'd want to buy.
However, there are some dividend stocks that I'd buy right now without hesitation. Here's why AbbVie (NYSE: ABBV), Brookfield Infrastructure Partners (NYSE: BIP), and Brookfield Renewable Partners (NYSE: BEP) are at the top of my list.
Image source: Getty Images.
1. AbbVie
How does a dividend yield of 5.8% sound to you? That's what AbbVie currently offers. Even better, the big pharmaceutical company boasts an impressive track record of dividend hikes -- 47 consecutive years and counting.
I'd argue that AbbVie also qualifies as a bona fide bargain right now. The stock is still down by a double-digit percentage from its highs earlier this year due to the market sell-off resulting from the COVID-19 outbreak. But the drugmaker's business shouldn't be terribly impacted by the pandemic. Its shares trade at well under nine times expected earnings. That's dirt cheap.
One reason why AbbVie is priced so low is that it faces biosimilar competition for its top-selling drug, Humira, in Europe with rivals scheduled to enter the U.S. market in 2023. However, there's a bigger picture for AbbVie that I think some are missing.
The company has already launched two new immunology drugs, Rinvoq and Skyrizi, that will take the baton from Humira and go a long way toward offsetting sales declines for the blockbuster drug. AbbVie also has several other drugs that will help, notably including cancer drugs Imbruvica and Venclexta. In addition, the company should close on its acquisition of Allergan this year, a deal that will make it less dependent on Humira.
AbbVie might not be a tremendous growth story for now, but it's valued attractively and has a juicy dividend. That's enough to make it a top stock to consider for income-seeking investors.
2. Brookfield Infrastructure Partners
Brookfield Infrastructure Partners' distribution (the equivalent to a dividend for a limited partnership) currently yields close to 5.7%. The company hasn't been in business long enough to claim a streak of dividend increases like AbbVie has. However, Brookfield Infrastructure has nearly tripled its distribution payout over the last 10 years, which is a remarkable achievement.
But as juicy as Brookfield Infrastructure's distribution is, there's a lot more to like about the stock. For one thing, the company has a stable business model. Around 95% of Brookfield Infrastructure's cash flow is either regulated or contracted. That means the company can count on money coming in the door month in and month out.
Its diversification adds to the stability. Brookfield Infrastructure owns infrastructure assets across multiple sectors -- data, energy, transport, and utilities. Less than one-third of the company's total cash flow comes from a single sector. It's also diversified geographically, with no more than 30% of cash flow generated in a single region.
As an added bonus, Brookfield Infrastructure has solid growth prospects. The company expects to increase funds from operations (FFO) by between 6% and 9% over the long run. That level of growth combined with its attractive distribution put the infrastructure stock in the top tier of dividend stocks, in my view.
3. Brookfield Renewable Partners
It's not a mere coincidence that Brookfield Renewable Partners has a name very similar to Brookfield Infrastructure Partners. The general partner of both companies is a subsidiary of Brookfield Asset Management. Like its infrastructure-focused sibling, Brookfield Renewable offers a great distribution with a current yield of 4.9%.
With uncertainties in the economy as a result of the COVID-19 pandemic, I like that Brookfield Renewable has maintained the lowest-risk balance sheet in the renewable energy sector. The company has plenty of liquidity to survive and thrive during an economic downturn.
I also like Brookfield Renewable's relative diversification. The company has significant operations in hydroelectric, solar, and wind electricity generation as well as a sizable storage capacity. It also operates globally, with renewable energy facilities in Asia, Europe, North America, and South America.
But what I most like about this stock is its potential to deliver market-beating total returns. Brookfield Renewable targets a total return of 12% to 15%, with around 5% coming from its distribution yield and another 10% coming from cash flow growth. With the use of renewable energy sources almost certain to increase dramatically over the next decade and beyond, Brookfield Renewable is probably one of the most future-proof stocks on the market.
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Keith Speights owns shares of AbbVie, Brookfield Infrastructure Partners, and Brookfield Renewable Partners L.P. The Motley Fool owns shares of and recommends Brookfield Asset Management. The Motley Fool recommends Brookfield Infrastructure Partners. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | One reason why AbbVie is priced so low is that it faces biosimilar competition for its top-selling drug, Humira, in Europe with rivals scheduled to enter the U.S. market in 2023. Here's why AbbVie (NYSE: ABBV), Brookfield Infrastructure Partners (NYSE: BIP), and Brookfield Renewable Partners (NYSE: BEP) are at the top of my list. AbbVie How does a dividend yield of 5.8% sound to you? | Here's why AbbVie (NYSE: ABBV), Brookfield Infrastructure Partners (NYSE: BIP), and Brookfield Renewable Partners (NYSE: BEP) are at the top of my list. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie, Brookfield Infrastructure Partners, and Brookfield Renewable Partners L.P. AbbVie How does a dividend yield of 5.8% sound to you? | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie, Brookfield Infrastructure Partners, and Brookfield Renewable Partners L.P. Here's why AbbVie (NYSE: ABBV), Brookfield Infrastructure Partners (NYSE: BIP), and Brookfield Renewable Partners (NYSE: BEP) are at the top of my list. AbbVie How does a dividend yield of 5.8% sound to you? | See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Speights owns shares of AbbVie, Brookfield Infrastructure Partners, and Brookfield Renewable Partners L.P. Here's why AbbVie (NYSE: ABBV), Brookfield Infrastructure Partners (NYSE: BIP), and Brookfield Renewable Partners (NYSE: BEP) are at the top of my list. AbbVie How does a dividend yield of 5.8% sound to you? |
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