AbbVie on July 24 reported weaker-than-expected revenue for its most recent quarter, which some analysts say is due to increased competition for its anti-inflammatory drug, Humira.
Here are the top 3 reasons analysts and investors are concerned about AbbVie:
Despite analysts’ concerns, AbbVie executives have said the company will defend Humira by wielding “hundreds of patents” globally that cover manufacturing processes and methods of use, according to The Wall Street Journal.
In addition, AbbVie is diversifying, to reduce its dependence on Humira. Its hepatitis C regimen, Viekira Pak, generated $385 million in sales in the latest quarter. In May, the company purchased Pharmacyclics and bought the rights to the blood-cancer drug Imbruvica, which produced $234 million in sales in the quarter.