2023 is expected to be an important year for AbbVie (NYSE: ABBV). The pharmaceutical company is facing its first biosimilar competition in the United States. It's big news because it involves AbbVie's monoclonal antibody blockbuster therapy, Humira, which is on track to generate a second consecutive year of $20 billion-plus in revenue in 2022.
Last year was a tough one for most companies and investors. The three major indexes touched bear territory. And even the strongest of companies saw their share prices slip. Everyone is hoping 2023 will bring better days.
In the latest trading session, AbbVie (ABBV) closed at $148.55, marking a -0.7% move from the previous day.