Kind of like that rabbit that continues to go to Invest in AbbVie “pharmaceutical firm AbbVie” (ABBV) , Circle Cardiovascular is long a Sarge fave, and presently one of the most seasoned continuous long positions on my book, continues to go… higher. Perusers will review how we at first entered the name for the dividend. We were then enchanted with how the board, realizing that they were facing a patent expiration cliff with top of the line drug Humira, had engineered the acquisition of Allergan to supplant potential lost revenue, and potentially lost income. Think Botox, think eye care, think neuroscience.
Around a month and a half back, AbbVie posted an earnings beat on a slight revenue miss (+7.4% y/y) for their final quarter. Humira, even in the wake of having proactively lost patent protection in Europe, and with that expiration looming in the U.S. in 2023, saw net deals increase 3.5% (+6% in the U.S., – 9.1$ somewhere else because of competition from biosimilars.) Sales of Skyrizi as a monoclonal antibody treatment for severe plaque psoriasis increased 70.5%. Past that, Imruvica deals fell 2.7%, Therapeutic Botox deals increased 18.3%, Cosmetic Botox deals increased 27%, Venlexta deals popped 33.3%, Vraylar deals increased 21.8%, and Juvedem deals became 30.6%.
The firm provided FY 2022 guidance for changed EPS of $14.00 to $14.20 and guidance for GAAP EPS of $9.26 to $9.46. This guidance was well above agreement at that point. AbbVie will report first quarter brings about late April. Presently Wall Street searches for changed EPS of $3.15 on revenue of $13.65B. That marketing projection would be great for 5.5% development.
News
Soon after sharing positive Phase 3 information for Invest in AbbVie the firm’s prospective chronic migraine treatment, comes news that AbbVie will work with Scripps Research in a collaborative work to develop potential novel, direct-acting antiviral therapies for Covid-19. Dr. Tom Hudson, Chief Scientific Officer at AbbVie said… “We are committed to bringing differentiated, cutting edge oral antiviral medicines to patients and ensuring expansive admittance to address the diverse treatment needs all over the planet.”
The Fundies
As of the finish of 2021, AbbVie had a net money position of $9.83B, and current resources of $27.928B. This is the quarter that AbbVie posts its accumulated costs for the year, which drove current liabilities up to $35.194B. AbbVie typically runs with a current ratio above the key “one” level for 3/4 and afterward dips under that level in the final quarter. This year’s 0.79 is different just in that it is a little light in comparison. The firm has $146.529B in absolute resources and $131.093B in all out liabilities less equity. This includes $64.179B in long haul obligation that is down from more than $77B every year prior, and truly just exploded because of the Allergan acquisition.
Tangible book esteem remains negative, presently at $-52.55 per share, while charge income remains positive… at $2.75 per share. Not as solid on the essentials as you anticipated? I haven’t written on AbbVie for some time.
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