Is AbbVie Still a Buy After Its 50% Run-Up?

Pharmaceutical giant AbbVie (NYSE: ABBV) has been one of the market's hottest stocks, rising more than 50% over the past year. It should raise eyebrows, considering the S&P 500 is up just 13% in that time. Why has AbbVie done so well and is it too late to benefit from buying shares?

Fear not -- AbbVie's rise has been a long time coming, and it's something that could have the legs to continue. However, there are some important details you need to be aware of. Here's why AbbVie could keep delivering excellent returns to long-term investors.

AbbVie sells Humira, the world's top-selling pharmaceutical drug, which generated $20 billion in sales in 2021. It's the crown jewel of AbbVie's business and accounts for roughly 36% of total revenue. Humira is obviously important, but the drug's patent, which blocks competitors from creating a similar product, expires next year.

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Source Fool.com