AbbVie Inc. (ABBV): A Bull Case Theory 

We came across a bullish thesis on AbbVie Inc. on Disruptive Analytics ’ Substack by Magnus Ofstad. In this article, we will summarize the bulls’ thesis on ABBV. AbbVie Inc.’s share was trading at $223.01 as of January 30th. ABBV’s trailing and forward P/E were 166.99 and 15.70 respectively according to Yahoo Finance.

AbbVie Inc., a research-based biopharmaceutical company, engages in the research and development, manufacture, commercialization, and sale of medicines and therapies worldwide. ABBV is strategically positioning itself to offset revenue declines following the loss of exclusivity on its blockbuster arthritis drug Humira by pursuing innovative, high-potential therapies.

The company recently announced its acquisition of Capstan Therapeutics for up to $2.1 billion, gaining access to an early-stage in vivo CAR‑T therapy designed to reprogram disease-causing immune cells directly inside the body using lipid nanoparticles.

This approach eliminates the need for hospital-based cell manufacturing and could offer a transformative one-time treatment for patients with autoimmune diseases, potentially replacing years of symptom-controlling injections or tablets. AbbVie’s ambition is to generate approximately $10 billion in new immunology revenue by 2030, and analysts view in vivo CAR‑T as one of the few technologies capable of contributing a meaningful portion of that target, with the potential for several billion dollars in revenue if early-stage trials demonstrate safe and durable remissions. The acquisition reflects AbbVie’s proven skill in identifying and integrating high-value biotech assets that can drive near- to medium-term cash flows while addressing unmet medical needs.

Given the company’s track record of successfully advancing complex therapies from acquisition to commercialization, investors see a high probability that AbbVie will replicate this success with in vivo CAR‑T. This initiative not only strengthens AbbVie’s immunology pipeline but also illustrates a deliberate strategy of leveraging cutting-edge cell therapies to maintain growth and shareholder value amid patent expirations and competitive pressures. Overall, the Capstan acquisition underscores AbbVie’s disciplined approach to innovation, combining scientific promise with a clear path to revenue generation, positioning the company for meaningful upside for patient and long-term investors in the upcoming decade.

Previously, we covered a bullish thesis on AbbVie Inc. (ABBV) by Magnus Ofstad in May 2025, which highlighted strong pipeline execution, robust growth from Skyrizi and Rinvoq, and the MIRASOL trial success for Elahere. ABBV’s stock price has appreciated by approximately 12.36% since our coverage due to these operational achievements and upgraded guidance. Magnus Ofstad shares a similar view but emphasizes the strategic acquisition of Capstan Therapeutics and the upside potential of in vivo CAR‑T therapies.

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Disclosure: None.