3 Reasons to Buy AbbVie Stock Like There's No Tomorrow
It looks like a great buy-and-hold option.
Overview
AbbVie (NYSE: ABBV) has performed fairly well this year despite significant volatility. The company's shares are up 10%, slightly above the S&P 500's 8% return. Will the healthcare leader maintain this momentum? Some may worry that AbbVie faces significant near-term risks, given the continued sales decline of its former best-selling drug, Humira, which has been off patent for several years. No one expects Humira to post revenue growth, but depending on how quickly it loses market share to biosimilars and whether or not AbbVie's other growth drivers are making enough progress to fill that gaping hole, the company's shares may fall.
Further, AbbVie is facing pricing pressure for its cancer medicine, Imbruvica, due to government-led price negotiations in the U.S. These headwinds may harm the stock's performance. However, for investors focused on the long game, there are still great reasons to invest in AbbVie. Let's consider three of them.
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Originally published at www.fool.com.