2023 is expected to be an important year for AbbVie (NYSE: ABBV). The pharmaceutical company is facing its first biosimilar competition in the United States. It's big news because it involves AbbVie's monoclonal antibody blockbuster therapy, Humira, which is on track to generate a second consecutive year of $20 billion-plus in revenue in 2022. Amgen is expected to launch Amjevita on Jan. 31, with several other Humira biosimilars expected to launch later this year from various pharmaceutical companies.

Investors have been aware of the launch for some time and reaction has been mixed, with the stock down 8.6% since the start of the year. As they process what to do about the stock, here are three reasons why AbbVie is still a buy and two reasons why it may not be.

Through the first nine months of 2022, AbbVie reported revenue of $42.9 billion, up 3.9% year over year. Humira, despite growing biosimilar competition in Europe, had global sales of $16.5 billion, up 1.9% over the first nine months of 2021.

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Source Fool.com