AbbVie and Pfizer Have 1 Thing in Common: Their Biggest Products Are on the Decline. Time to Sell?
AbbVie (NYSE: ABBV) and (NYSE: PFE) are makers of two of the world's top-selling pharmaceutical products. AbbVie's immunology drug Humira brought in peak sales of more than $21 billion, while Pfizer's coronavirus vaccine generated peak sales of $37 billion -- in 2022, in both cases. With results like those, you might expect their stocks to still be soaring, but they aren't.
Instead, AbbVie and Pfizer shares have dropped by double-digit percentages this year, and for reasons that are understandable. The companies have something in common. Sales of both of their top-selling products are on the decline in a big way. Humira has lost exclusivity, and demand for Pfizer's coronavirus vaccine is declining now that we have exited the health-crisis stage of the pandemic. But does this mean you should follow the crowd and sell shares of these companies?
Image source: Getty Images.
Source Fool.com
Pfizer Inc. Stock
The stock is one of the favorites of our community with 31 Buy predictions and 4 Sell predictions.
As a result the target price of 41 € shows a very positive potential of 60.0% compared to the current price of 25.63 € for Pfizer Inc..
