Is It Too Late to Buy AbbVie Stock?
AbbVie (NYSE: ABBV) has shown itself to be a great long-term investment. The drugmaker's shares have climbed about 300% over the past decade. And earnings have soared, thanks to the company's blockbuster immunology drug Humira.
But things are changing at AbbVie. Humira already has been facing competition internationally, and that has weighed on sales. As of this year, it also faces competition in the U.S. This will clearly hurt earnings. In fact, management predicts a 37% drop in U.S. Humira sales this year. So now the question is: Is it too late to buy AbbVie stock? Let's find out.
Humira is a massive blockbuster due to its use across a range of illnesses, including rheumatoid arthritis and Crohn's disease. In 2021, Humira achieved peak annual revenue of more than $20 billion. That's more than 36% of the company's total revenue.
Source Fool.com
