AbbVie is a global biopharmaceutical company that focuses on the research, development, and commercialization of advanced therapies to treat complex diseases across multiple therapeutic areas, including immunology, oncology, neuroscience, and virology. The company is known for its innovative biologics and pharmaceutical products aimed at addressing unmet medical needs, improving patient outcomes, and enhancing the quality of life for individuals suffering from chronic and acute health conditions. Through a combination of scientific expertise and strategic partnerships, AbbVie continuously strives to push the boundaries of medical science and expand its portfolio of leading-edge treatments. Read More
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Shares of pharmaceutical company AbbVie (NYSE:ABBV) jumped 3.7% in the afternoon session after the company posted strong second-quarter earnings that beat expectations and raised its full-year financial forecast. The pharmaceutical giant disclosed adjusted earnings of $2.97 per share and revenues of $15.42 billion, both numbers surpassing analyst estimates. This performance was driven by robust sales from its immunology drugs, Rinvoq and Skyrizi, which successfully offset lower sales from the company's older drug, Humira. Confident in its momentum, AbbVie lifted its full-year guidance for both revenue and adjusted earnings per share. In response to the strong results, analysts at firms including Morgan Stanley and Raymond James increased their price targets on the stock.
