AbbVie Deserves More Respect
NEW YORK (TheStreet) -- Ever since Abbott Labs
Despite concerns about AbbVie's pipeline, management continues to deliver on several key initiatives -- not the least of which is better diversification among the company's drugs and other assets. For some critics, this hasn't been enough. Complaints about AbbVie's perceived eroding pipeline continue to dominate the discussion.
When analysts aren't lamenting blockbuster drug Humira, which is used to treat rheumatoid arthritis, they're pressing the panic button about rival products from Pfizer
With adjusted gross margin improving 2.5% year over year to 77.1%, there's no question that the company ended its fiscal year on a strong note. AbbVie's lack of profitability has been a popular cited bearish argument even though the company has delivered margins that the likes of Merck
What's more, AbbVie met the Street's expectations on several other important metrics, including operating income and revenue. What was equally impressive was that the company demonstrated a strong level of efficiency even as management incurred higher operating expenses.