AbbVie (ABBV) Stock Up 28% YTD as New Drug Wins and Analyst Upgrades Fuel Optimism
AbbVie shares trade near $229, up 28% year-to-date and outperforming the S&P 500 healthcare index. The stock hit a record high in late September after a patent settlement extended U.S. exclusivity for Rinvoq until 2037. AbbVie announced a $2.7 billion R&D write-off in October, cutting profit guidance. FDA expanded Rinvoq’s use Oct. 13; a recent trial showed Rinvoq outperformed Humira in rheumatoid arthritis.