Top 5 Drug Companies in USA and Their China Reliance

3. AbbVie Inc. (NYSE:ABBV)

Total Revenue in 2021: $56.2 billion

AbbVie Inc. (NYSE:ABBV) is a biotech company based in North Chicago, Illinois. It offers a wide variety of products to treat conditions such as active rheumatoid arthritis and moderate to severe plaque psoriasis.

An Overweight rating was kept on AbbVie Inc. (NYSE:ABBV) shares on January 26 by analyst Chris Scott at JPMorgan, alongside a $190 price target.

Between 2021 and 2023, AbbVie Inc. (NYSE:ABBV) has returned a total of 38%, including dividends. The company has seen sales increases in 2022, with its core immunology segment recording a sales increase of 15% year-over-year in the third quarter. The immunology segment is heavily reliant on China since AbbVie Inc. (NYSE:ABBV) sources active pharmaceutical agents used in the production of drugs for immunology from the country.

Baron Funds, an investment management company, mentioned AbbVie Inc. (NYSE:ABBV) in its fourth-quarter 2022 investor letter. Here’s what the firm said:

“AbbVie Inc. (NYSE:ABBV) develops inflammatory, oncology, and aesthetic drugs. Shares rose primarily due to the rotation into large-cap pharmaceutical stocks trading at low valuations. Investors continue to be focused on the rate of erosion of the Humira franchise upon patent expiration in 2023, which we think is less important over the long term than the growth of novel franchises like Rinvoq and Skyrizi. We retain conviction given AbbVie’s low valuation and growth opportunities.”

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