AbbVie soars to record as Rinvoq exclusivity extended to 2037
AbbVie stock surged 4.1% to a record $220.22, logging its best day in over seven months after a settlement pushed generic competition for Rinvoq to April 2037. Analysts called it a "big win," lifting targets to as high as $240. The deal extends Rinvoq's growth runway, with some estimating an extra $2B in peak sales. Retail sentiment turned extremely bullish.