AbbVie Inc(NYSE:ABBV) has proven itself to be one of the best pharmaceutical stocks to own in 2017. The stock is up over 50% year-to-date. AbbVie stock is poised for more growth amid several factors. First, the company is set to launch a Humira biosimilar. The company announced in September that it had settled its longstanding dispute with Amgen which had become a stumbling block in the progress of Humira’s biosimilar. AbbVie Inc (NYSE:ABBV) is now set to launch Humira’s biosimilar in Europe in 2018 and in the US by 2023. Humira is one of the bestselling drugs in the world. The drug is used to treat arthritis. About 55 million people are suffering from arthritis in the US alone.
AbbVie Inc(NYSE:ABBV) has several other growth catalysts. Earlier this year, the company got an approval of Mavyret/Maviret, an HCV treatment. Analysts think that this drug can induce a revival in the company’s HCV business. AbbVie also won an approval for Imbruvica for the treatment of chronic graft versus host disease (GVHD). Similarly, in October, AbbVie announced positive results for the phase III study of Venclexta plus Rituxan. The drug is being studied for the treatment of chronic lymphocytic leukemia (“CLL”). AbbVie’s JAK-1 selective inhibitor, upadacitinib also met its primary endpoints in a latest study. The company is expected to launch its small-cell lung cancer drug Rova-T in 2018. Analysts are also excited about the launch of sex hormone treatment, Elagolix. AbbVie Inc(NYSE:ABBV) has successfully diversified its revenue and pipeline sources through timely acquisitions like Stemcentrix and Pharmacyclics. AbbVie recently announced positive results from Phase 3 trial of its psoriasis treatment, risankizumab. In the first phase of the study, 89% of the patients who used the drug showed 75% improvement in symptoms while 47% achieved totally clear skin. On Wednesday, AbbVie and Johnson & Johnson announced that a combinational study of Imbruvica for the treatment of Waldenström’s macroglobulinemia (WM), a rare form of non-Hodgkin’s lymphoma, met the primary endpoint. Analysts now accept that AbbVie is no longer solely dependent upon Humira. It has its eggs in several baskets. However, Humira’s sales are still skyrocketing. In the third quarter, Humira revenue jumped 14.8% operationally.
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Perhaps the most solid reason to buy AbbVie Inc (NYSE:ABBV) stock is its attractive dividend. After announcing strong third quarter results, AbbVie increased its dividend by a whopping 11%.
All of the above factors show that AbbVie remains the best pharmaceutical investment for 2018.