Is AbbVie a Buy After Its Latest Earnings Report?

Losing patent protection on a blockbuster drug can be a disaster for a pharmaceutical stock. But AbbVie (NYSE:ABBV) has managed to move past the loss of exclusivity on Humira, once the world's best-selling drug, and continues to deliver impressive growth. Investors have noticed. AbbVie stock closed at a record $290.79 just before its third-quarter earnings report before the market opened Oct. 30, then gained another 1.4% Friday to record another all-time high. At this lofty level, is AbbVie still a buy? The latest results offer some reasons to be optimistic.

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