Spain’s credit rating upgraded to ’A+’ by S&P on strong growth
Investing.com - BMO Capital raised its price target on Abbvie (NYSE:ABBV) to $240.00 from $215.00 on Thursday, while maintaining an Outperform rating on the stock. The pharmaceutical giant, currently trading at $220.22 and commanding a market cap of $389.6 billion, is trading near its 52-week high of $218.66.
The price target increase follows Abbvie’s announcement that it has reached a settlement with generic drug manufacturers regarding litigation over its Rinvoq medication.
The settlement delays generic competition for Rinvoq until 2037, which is four years beyond the drug’s 2033 composition of matter patent expiration.
BMO Capital noted that this settlement outcome "reads well for the name" and will help drive growth beyond current consensus expectations.
Abbvie’s successful negotiation with generic drugmakers provides the company with an extended period of market exclusivity for Rinvoq, a key product in its portfolio. With revenue of $58.3 billion in the last twelve months and a strong gross profit margin of 71.25%, InvestingPro analysis reveals 12 additional key insights about Abbvie’s financial health and market position.
In other recent news, AbbVie announced a quarterly cash dividend of $1.64 per share, payable on November 14, 2025, to stockholders of record as of October 15, 2025. The company also reported positive results from its Phase 2 EPCORE NHL-6 trial, demonstrating the feasibility of administering epcoritamab in outpatient settings for patients with relapsed/refractory diffuse large B-cell lymphoma. In a significant development, AbbVie plans to acquire Gilgamesh Pharmaceuticals’ bretisilocin, a psychedelic therapy for major depressive disorder, in a deal valued at up to $1.2 billion. This acquisition highlights AbbVie’s interest in expanding its psychiatric drug pipeline. Following this announcement, Raymond James reiterated an Outperform rating for AbbVie with a price target of $236.00. The deal includes both upfront payments and development milestones, and Gilgamesh will spin off a new entity to retain its other drug programs. These recent developments reflect AbbVie’s strategic moves to enhance its portfolio and pipeline.
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