: AbbVie on track for biggest decline in about three years as newer drug sales lag estimates

April 27, 2023

Shares of AbbVie Inc. tumbled 8% Thursday, after the biopharmaceutical company missed first-quarter profit expectations, as some of its newer drugs missed their revenue targets while blockbuster Humira lost ground to biosimilars.

The stock was on track for its biggest one-day percentage decline since March of 2020 and was second worst performer on the S&P 500 after Align Technology Inc. ALGN

Humira,…

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