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    How AbbVie’s Capital-Light ABBV-230 Deal Reshape At AbbVie (ABBV) Has Changed Its Investment Story

    Simply Wall St·12/14/2025 03:20:55
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    • In early December 2025, OSE Immunotherapeutics amended its partnership with AbbVie on the pre-clinical anti-inflammatory antibody ABBV-230, taking back responsibility and funding for preclinical and Phase 1 work while AbbVie keeps exclusive rights to later-stage development and commercialization with the original royalty and milestone terms largely intact.
    • This shift gives AbbVie continued optionality on a potential first-in-class ChemR23-targeting therapy without near-term development spend, while OSE gains more scientific control and upside from successful early data.
    • We’ll now examine how AbbVie’s capital-light approach to ABBV-230’s early development could influence the company’s broader investment narrative.

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    AbbVie Investment Narrative Recap

    To own AbbVie, you have to believe its post‑Humira story is driven by durable immunology and neuroscience growth, backed by a deep pipeline and disciplined capital allocation. The ABBV‑230 amendment is immaterial to near term results, but it underlines AbbVie’s preference for partnering to broaden optionality while keeping early development spend lean. The main near term swing factor remains execution on Skyrizi and Rinvoq, while key risks center on pricing pressure and eventual competition to today’s blockbusters.

    The most relevant recent update alongside ABBV‑230 is AbbVie’s expanding hematology footprint, including fresh data and regulatory progress for epcoritamab (Epkinly) in follicular lymphoma. Together, these moves highlight how AbbVie is trying to deepen its presence in immunology and oncology at the same time, which matters if investors see the long term story resting on multiple franchises rather than a few headline assets.

    Yet while the growth story is compelling, investors should also understand how future pricing reforms and patent expiries could...

    Read the full narrative on AbbVie (it's free!)

    AbbVie’s narrative projects $73.0 billion revenue and $20.8 billion earnings by 2028. This requires 7.7% yearly revenue growth and about a $17.1 billion earnings increase from $3.7 billion today.

    Uncover how AbbVie's forecasts yield a $243.55 fair value, a 9% upside to its current price.

    Exploring Other Perspectives

    ABBV 1-Year Stock Price Chart
    ABBV 1-Year Stock Price Chart

    Six fair value estimates from the Simply Wall St Community span roughly US$222 to US$418 per share, showing how far apart individual views can be. Against that backdrop, the belief that newer immunology products can offset pricing and patent pressures will likely drive very different expectations for AbbVie’s long term performance, so it is worth weighing several of these viewpoints before deciding what you think.

    Explore 6 other fair value estimates on AbbVie - why the stock might be worth just $221.77!

    Build Your Own AbbVie Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.