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Investing.com - Piper Sandler has reiterated its Overweight rating and $231.00 price target on Abbvie (NYSE:ABBV), currently trading at $218.83 and near its 52-week high of $221.76, following the company’s settlement with abbreviated New Drug Application (aNDA) filers. InvestingPro data shows the pharmaceutical giant maintains strong financial health with a market capitalization of $387 billion.
The settlement prevents generic versions of Rinvoq from entering the U.S. market before April 2037, extending exclusivity approximately four years beyond the expiration of composition intellectual property in 2033.
Piper Sandler believes this extended exclusivity runway justifies further multiple expansion from the current EV/2026E EBITDA of approximately 14x, noting that the final years of brand exclusivity are typically the most profitable and cash-generative.
The research firm projects Rinvoq will generate annual U.S. sales exceeding $10 billion by 2030, making the extended patent protection particularly valuable.
Piper Sandler highlighted that the last years of exclusivity often see peak sales with limited associated R&D spending and stable or decreasing sales and marketing support.
In other recent news, AbbVie has reported several significant developments. The company announced the results of its Phase 2 EPCORE NHL-6 trial, which demonstrated the feasibility of administering epcoritamab for relapsed/refractory diffuse large B-cell lymphoma in outpatient settings. Additionally, AbbVie declared a quarterly dividend of $1.64 per share, set to be paid on November 14, 2025. In a strategic move, 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 has caught the attention of analysts, with Raymond James reiterating an Outperform rating and a $236 price target for AbbVie. Meanwhile, BMO Capital raised its price target for AbbVie to $240, following a settlement related to its Rinvoq medication. These updates reflect AbbVie’s ongoing efforts to expand its therapeutic portfolio and maintain a strong financial position.
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