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Why AbbVie's Stock Is Trading Lower Today

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Why AbbVie's Stock Is Trading Lower Today

AbbVie (NASDAQ: ABBV) shares are trading lower on Tuesday after the U.S. House of Representatives says it plans to subpoena the company over Humira and Imbruvica pricing after the company "repeatedly failed to comply with the Committee's requests."

AbbVie is a drug company with a strong exposure to immunology and oncology. The company's top drug, Humira, represents over half of the company's current profits. The company was spun off from Abbott in early 2013. The recently announced acquisition of Allergan will add several new drugs in aesthetics and women's health.

AbbVie's stock traded down 4.20% at $91.75 per share at the time of publication on Tuesday. The stock has a 52-week high of $101.28 and a 52-week low of $62.55.

 

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