#2 - AbbVie (NYSE:ABBV)
One thing that scientists are discovering is that established antivirals are proving to have some effect on the novel coronavirus. That’s the case with AbbVie (NYSE:ABBV). The company’s HIV treatment, Kaletra (also called Aluvia) is being used in China to treat pneumonia that patients experience due to the coronavirus. Kaletra has not been approved as an approved treatment for the virus, but it has a history of being effective.
In 2004, a clinical study proved that the drug was an effective treatment for SARS (Sudden Acute Respiratory Syndrome). AbbVie is literally putting its own money into the game. The company has donated nearly $1.5 million worth of the drug to China. If the drug is proven to be effective over a large patient population, Kaletra could be a billion-dollar drug for AbbVie.
ABBV stock is down about 3% for the year, which makes this a nice buying opportunity, particularly when you consider that you’re getting a company with an established pipeline and a reliable dividend confirmed by its membership in the exclusive Dividend Aristocrat club.
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
Read More - Current Price
- $165.38
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $176.14 (6.5% Upside)
