AbbVie stock gets lift after beating Q2 earnings estimates

Pharmaceutical giant AbbVie (ABBV) is getting a stock boost after the company's second quarter results topped Wall Street estimates.

Yahoo Finance senior health reporter Anjalee Khemlani breaks down the earnings and how the pharmaceutical company responds to increased competition for its rheumatoid arthritis drug Humira.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Melanie Riehl

Video Transcript

And let's talk about another name that's in your wheelhouse and that's ay, we got results out from that company here earlier today.

It's a trending ticker on Yahoo Finance.

We're looking at gains there actually of just about 5%.

Yeah, so ay had a good quarter and surprisingly, so considering all the sort of concern over its major drug Humira, we know that that has been facing increasing competition in the market and when the PB MS took it off of top tier formula, uh top tier the formulary that has actually really hurt a these market share.

It's now down to 80% up from down from about 90 above before.

And it had been holding on to the line share.

But this quarter, we've definitely seen the activity take hold.

Meanwhile, it's being boosted by other drugs that are trying to take over and take the place of what you used to contribute to the revenue that includes sky and R as well as improve.

So those are three top drugs to look at when you're looking at the stock.

Meanwhile, interesting little tidbit Botox is another area that they did still have pretty good sales there but lower than consensus.

And I thought that was interesting because I don't know if you guys saw it, but New York City apparently is contributing to the rise of Botox used for sweat.

People are getting injections to help save off the summer sweat.

So I thought, I thought we were see, like a boost in the revenues there, but we did not.

So I'm surprised my great.

It's really nice.

That's a heck of a lot to spend to just not sweat a little bit.

But yeah, you know, there's the, obviously the medical benefits about, um, headaches and you have sweating.

I mean, take multi purpose, all the reasons everyone should go out and get Botox.

All right.

Thanks so much.