AbbVie's (ABBV) new drugs, Skyrizi and Rinvoq, are faring well, bolstered by approval in new indications. They are expected to drive revenues once Humira loses U.S. exclusivity in 2023.
All three of these stocks are attractively valued even though they're beating the market this year.
With the market down by more than 21% in 2022, we're officially in a bear market, and many investors are scrambling to protect themselves. AbbVie's (NYSE: ABBV) stock is up 9.9% this year, and with a bunch of recently reported clinical trial results and green lights from regulators, it isn't too surprising why. Most recently, on Sept. 10, it announced that a pair of its phase 3 trials of Skyrizi, a psoriatic arthritis drug that's already on the market, showed that the drug was performing favorably in long-term followup studies.