Here's How AbbVie Inc. Crushed It in 2017
It's been a tremendous year for AbbVie Inc. (NYSE: ABBV) shareholders. Shares of the Abbott spinoff have gained 56.5% this year as investors cheered a handful of important developments. As the year draws to a close, let's look back at a few ways AbbVie crushed it.
AbbVie investors can thank the company's legal team for the lion's share of this stock's gain in 2017. Key patents protecting Humira's exclusivity in the U.S. have expired, but it looks like supplemental patents will keep biosimilar competition at bay much longer than previously anticipated. That's a pretty big deal because AbbVie depends on the rheumatoid arthritis drug for about two-thirds of total revenue.
AbbVie Inc. CEO Richard Gonzalez gave investors plenty to smile about in 2017. Image source: AbbVie Inc.
Source: Fool.com
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