Pfizer's Coming for AbbVie's Market Share. Here's What It Means for Investors
On Oct. 13, regulators at the Food and Drug Administration (FDA) ruled that Pfizer's (NYSE: PFE) new drug for moderate to severe ulcerative colitis (UC), Velsipity, was ready for prime time. That puts the company on a collision course with (NYSE: ABBV), the leader of the market for ulcerative colitis therapies for many years.
In a worst-case scenario, it's possible that AbbVie might get its lunch eaten. Even under the best of conditions, it'll probably face a headwind in gaining and retaining market share, and there's more than one disease market at stake. Here's what's going on and what it means for investors.
Ulcerative colitis (UC) is a chronic inflammatory disease of the colon and rectum for which there are a handful of treatments available, but no cure. UC affects as many as 4 out of 1,000 people in North America, and it appears to be more prevalent in the Western world compared to elsewhere.
Source Fool.com
AbbVie Inc. Stock
With 32 Buy predictions and not a single Sell prediction AbbVie Inc. is an absolute favorite of our community.
With a target price of 180 € there is a slightly positive potential of 4.93% for AbbVie Inc. compared to the current price of 171.54 €.
