Time To Book Profit In AbbVie Stock Despite Patent Win
- The FDA approved the second biosimilar to the company’s top performer Humira.
- AbbVie looks to extend patent protection for Humira through a network of different patents.
- The stock is currently trading at all time high, making its valuation a little stretched.
By S. Mitra, MBA, ( ISB)
AbbVie (ABBV) is a great, great company but this is probably not the right time to buy the stock. The stock lately added more zing to its already impressive price gains this year so far. It is currently setting new 52 weeks highs and has gained over 36 percent this year so far, including 18 percent in the last one month.
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