In today’s briefing:
- AbbVie (ABBV US): Mixed Q1 Show; 2022 Guidance Trimmed; Stock Price Reaction Seems Overdone
- Global Cord Blood (CO US): Fate Seems to Be Changing as New Growth Engine Added
AbbVie (ABBV US): Mixed Q1 Show; 2022 Guidance Trimmed; Stock Price Reaction Seems Overdone
- Abbvie Inc (ABBV US) reported mixed results in Q1 2022. While revenue of $13.538 billion missed consensus by $70 million, adjusted EPS of 3.16 beat consensus of $3.14.
- Q1 revenue from immunology portfolio was $6.141 billion, up 6.9% y/y. Management is still confident of delivering $15 billion combined revenue from Rinvoq and Skyrizi by 2025.
- The company has reduced 2022 adjusted EPS guidance to $13.92–14.12 from $14.00–14.20, to reflect an unfavorable impact related to acquired IPR&D and milestones expenses incurred during Q1.
Global Cord Blood (CO US): Fate Seems to Be Changing as New Growth Engine Added
- Global Cord Blood (CO US) is foraying into multi-billion-dollar cell therapy space through acquisition of privately-held clinical-stage biotechnology company, Cellenkos.
- Cellenkos utilizes umbilical cord blood as the raw material to develop T-regulatory cell therapies for treating autoimmune diseases and inflammatory disorders.
- Global Cord believes that Cellenkos is a perfect fit for the company and that its products can have distinct synergies with the company’s existing line of business.
Before it’s here, it’s on Smartkarma
