The results are out and AbbVie shows an impressive run despite its abandonment in its supposed $55 billion deal.
The main reason why it hit a good score in the last quarter is the demand for its drugs, specifically, the one that can cure Humira arthritis. There have been several drugs to work with the same case but AbbVie has won the competition.
They are not totally forgetting about the deal that they were about to make. However, with how the company is running right now, they may not be looking at it as the best option to improve the business. They see the growth in the demand as an opportunity to look at other aspects that could be good for the company.
Their current plan involves the acquisition of smaller assets. Shire, the Dublin drug maker, is not fit for the moment. This is still despite the fact that AbbVie can fully take over the company. It just goes to show that they are more mindful and careful of their decisions. Taking the more conservative route could be their best choice right now.
The last quarter is not the only time that AbbVie made sure that it is getting better revenues. Forecasts say that there is going to be more for the company. Right now, they are already amounting to 31 cents per share. In the bigger picture, this is $506 million.
Analysts from different credible market outlets suspect that this will rise up to 77 cents per share. That is more than a hundred percent. They are confident that they will be entering 2015 in a good standing.
Until huge movements in the statistics change, their stand on the Shire-acquisition will most likely remain the same.