格隆汇2月24日｜艾伯维表示，将投资3.8亿美元在美国伊利诺伊州园区建造两座新的活性药物成分生产 设施，以扩大其神经科学和减肥药物的国内生产能力。 公司在美国已经拥有11个生产基地，并且正在 与美国多个州就潜在项目进行磋商，预计将于今年宣布进一步投资。 ...

AbbVie on Monday said it would invest $380 million to build two new active pharmaceutical ingredient manufacturing facilities at its Illinois campus, expanding its domestic production capacity for its... ...

therapeutic effects. Over the past six months, AbbVie has announced plans to significantly expand its API manufacturing capabilities and capacity in the U.S. In September 2025, AbbVie broke ground on the first phase of this investment, a new chemical synthesis facility that will enable the return of API production for select neuroscience, immunology and oncology products from Europe and Asia to the U.S.With a presence in all 50 states and Puerto Rico, AbbVie employs approximately 29,000 people in the U.S., ...

Core Insights - Johnson & Johnson (JNJ) and AbbVie (ABBV) are prominent pharmaceutical companies with strong positions in immunology, oncology, and neuroscience, alongside J&J's extensive medical devices business [1] - Both companies are facing patent challenges, necessitating effective pipeline execution and business development for sustained growth [2] Company Overview Johnson & Johnson (JNJ) - JNJ's diversified business model includes pharmaceuticals and medical devices, with over 275 subsidiaries and 28 products generating over $1 billion in annual sales [4] - The Innovative Medicine unit showed a 4.1% organic sales growth in 2025, driven by key drugs like Darzalex and new products [5] - JNJ's MedTech business saw a 4.3% organic sales increase in 2025, supported by acquisitions and improvements in various segments [6] - Significant R&D investments exceeding $32 billion in 2025, with new product approvals expected to drive future growth [7] - JNJ anticipates that 10 new products could achieve peak sales of $5 billion each [8] AbbVie (ABBV) - AbbVie successfully transitioned from the loss of exclusivity (LOE) of Humira by launching new immunology drugs, Skyrizi and Rinvoq, which contributed to a combined sales growth of over 40% in 2025 [9][10] - The neuroscience portfolio also saw a nearly 20% sales increase, driven by products like Botox and Vraylar [12] - AbbVie has invested over $5 billion in acquisitions to enhance its early-stage pipeline, particularly in immunology [13] - The aesthetics segment faced challenges, with global sales declining by 5.9% in 2025 [14] Financial Performance - JNJ's stock rose 48% in the past year, while AbbVie's stock increased by 10.2%, both outperforming the industry average of 12.1% [20] - The Zacks Consensus Estimate for JNJ's 2026 sales and EPS indicates a year-over-year increase of 6.5% and 7.0%, respectively [15] - AbbVie's 2026 sales and EPS estimates imply a year-over-year increase of 9.4% and 8.74%, respectively [17] Valuation and Yield - AbbVie appears more attractive from a valuation perspective, trading at a forward P/E ratio of 15.25 compared to JNJ's 20.79 [20] - AbbVie offers a higher dividend yield of approximately 3.1%, compared to JNJ's 2.1% [23] Future Outlook - AbbVie expects high single-digit revenue growth through 2029, driven by Skyrizi and Rinvoq, with no significant LOE events anticipated [27] - JNJ aims for approximately $100 billion in revenues in 2026, with expectations of sales growth across both segments [28] - Both companies are positioned for continued growth, with JNJ showing a slight edge in stock performance and analyst estimates [29]

Core Insights - Dividend stocks and Consumer Staples experienced losses or flat prices last week, with Crown Castle and AbbVie among the biggest decliners, while Coca-Cola outperformed due to positive Wall Street research notes [1] Group 1: Company Performance - Crown Castle (CCI) saw a significant decline after terminating its agreement with DISH Wireless due to a default on payment obligations, leading to a potential $3.5 billion revenue shortfall and an expected net loss of $780 million in 2026 [1] - AbbVie (ABBV) dropped nearly 3% despite FDA approvals for its drug, facing headwinds from broader healthcare sector weakness and drug pricing policy uncertainties [1] - AT&T (T) fell approximately 2.5% after two banks lowered their price targets, reflecting concerns about the competitive telecom environment, particularly with T-Mobile's new service [1] Group 2: Dividend Changes - Crown Castle reduced its quarterly dividend from $1.565 to $1.0625 per share, raising questions about the sustainability of its dividend amid financial challenges [1] - AbbVie has increased its dividend for 13 consecutive years, with the latest quarterly dividend at $1.73 per share, reflecting a 5.5% increase from the previous rate [1] - AT&T maintains a quarterly dividend of $0.2775 per share, yielding close to 4% at current prices, but faces limited near-term upside according to analyst consensus [1] Group 3: Market Trends - The Schwab U.S. Dividend Equity ETF was flat, while the Consumer Staples SPDR fell by 1.8%, indicating a pause in the performance of dividend stocks [1] - The VIX index is at 20.23, indicating a boundary between normal and elevated uncertainty, while the 10-year Treasury yield is at 4.08%, down from 4.29%, providing some relief for rate-sensitive dividend stocks [2] - Overall, 2026 has been a strong year for dividend stocks, with investors seeking stability amid market volatility [2]

Investment Rating - The report maintains a "Recommended" rating for the pharmaceutical industry [5] Core Insights - The underlying logic of the current pharmaceutical industry era is innovation and international expansion, with a focus on innovative drugs and technology-driven sectors [2][3] - The report highlights the strong performance of the CRO market and suggests a dual investment strategy focusing on both "0 to 1" technology innovation and low-position stocks [2][3] - The report emphasizes the ongoing trend of BD (Business Development) transactions in innovative drugs, with significant growth expected in 2026 [4][15] Summary by Sections 1. Key Events in the Pharmaceutical Industry During the Spring Festival - Innovative drug BD transactions have seen a strong start, with significant overseas development and registration progress for key products [13][14] - The total amount of BD transactions for innovative drugs in China for 2026 has already surpassed one-third of the total for 2025 [15] - The revision of the National Essential Medicines List Management Measures may signal changes in the essential medicines directory [28] 2. Pharmaceutical Market Review and Hotspot Tracking - The pharmaceutical sector's performance was relatively weak, with a weekly decline of 0.81%, ranking 20th among all industries [34][38] - The total trading volume for pharmaceuticals was 401.12 billion yuan, accounting for 3.83% of the total market, below the historical average of 7.09% [55] - The report notes a rising valuation level for the pharmaceutical industry, with a PE ratio of 29.25, which is below the historical average [52] 3. Stock Performance Review - The report lists the top-performing stocks, including Dongyangguang and Zhendemedical, while highlighting the underperformers like Huayuan Biology and *ST Sailong [58][59]

Group 1 - The primary goal of the "High Income DIY Portfolios" service is to provide high income with low risk and capital preservation for DIY investors [1] - The service offers seven portfolios designed for income investors, including retirees, featuring three buy-and-hold portfolios, three rotational portfolios, and a conservative NPP strategy portfolio [1] - The portfolios include two high-income portfolios, two dividend growth investing (DGI) portfolios, and a conservative NPP strategy portfolio aimed at low drawdowns and high growth [1] Group 2 - The "High Income DIY Portfolios" service includes a total of 10 model portfolios with varying income targets and risk levels, along with buy and sell alerts and live chat support [2] - The investment approach focuses on dividend-growing stocks with a long-term horizon, aiming for 30% lower drawdowns and 6% current income [2] - The service is managed by a financial writer with 25 years of investment experience, emphasizing strategies for stable, long-term passive income [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35565 AbbVie Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization ...

The biotech space this week witnessed significant key milestones, including FDA approvals, NDA path-setting meetings, rejections, licensing agreements, and oncology drug acquisitions. The clinical trial arena achieved positive results in therapeutic areas such as idiopathic nephrotic syndrome, age-related macular degeneration, ulcerative colitis, plaque psoriasis, obesity, autoimmune and inflammatory diseases.Let us unpack the key developments and milestones of this week. FDA Approvals & Rejections NRx Pha ...

Core Insights - AbbVie reported strong fourth-quarter and full-year 2025 results, surpassing expectations, primarily driven by its newer immunology drugs, Rinvoq and Skyrizi, which offset the decline of the legacy drug Humira [1] Financial Performance - Skyrizi and Rinvoq generated combined revenues of approximately $26 billion, reflecting over 40% year-over-year growth. Skyrizi sales increased by 50% year-over-year to $17.56 billion, while Rinvoq sales rose by 39% to $8.30 billion [2] - AbbVie anticipates overall sales to grow at a high single-digit revenue CAGR through 2029, with combined sales of Skyrizi and Rinvoq expected to exceed $31 billion in 2026, surpassing the long-term guidance of $31 billion for 2027 [4] Market Dynamics - The immunology market is experiencing strong growth, with significant market share gains for Skyrizi in psoriasis and Rinvoq in rheumatoid arthritis. New indications for both drugs, including recent approvals and potential future approvals, are expected to drive further growth [3][5] - AbbVie expects Rinvoq to secure approvals for vitiligo and alopecia areata in 2026, with additional phase III data anticipated for hidradenitis suppurativa and systemic lupus erythematosus [5] Competitive Landscape - AbbVie faces competition from Johnson & Johnson, which markets Stelara and Tremfya, and Eli Lilly, which recently received FDA approval for Omvoh in ulcerative colitis [7][8] Valuation and Estimates - AbbVie shares are currently trading at a P/E ratio of 15.14, below the industry average of 18.74, but above its five-year mean of 13.68 [12] - Estimate revisions for 2026 EPS have trended higher, while those for 2027 have decreased over the past 30 days [14]