AbbVie faces risks from biosimilar competition impacting Humira sales, customer inventory destocking, decreased consumer demand (Juvederm), and potential changes in the fair value of contingent consideration liabilities due to factors like regulatory milestones, discount rates, and future sales. Ongoing legal proceedings (product liability, antitrust, securities) and tax examinations pose further uncertainty. The company's reliance on key wholesalers for US sales also presents a concentration risk.
Financial Upside
AbbVie's financial upside includes strong market share uptake and market growth for Skyrizi and Rinvoq. Positive clinical trial results for Rinvoq, Skyrizi, Epkinly, Elahere, and Vraylar, along with new product approvals (Rinvoq pediatric, Skyrizi UC, Epkinly FL, Elahere FRĪ±-positive, Vraylar Parkinson's), and the acquisition of Cerevel Therapeutics and ImmunoGen, offer potential revenue growth and pipeline expansion. Increased cash dividend payments and stock repurchase authorization also represent positive financial developments.
