AbbVie Inc. the Spinoff for 2013
AbbVie Inc (ABBV) just started trading in 2013. AbbVie is the first 'Spinoff' for Wall Street in the New Year and has separated from Abbott Labs (ABT).
AbbVie was the pharmaceutical division of Abbott Labs, so far its bounced from $34 to $35 per share. This spinoff has been in motion since 2011. Before the deal, Abbott was one of the largest healthcare companies in the world. The aging world population is going to keep popping pills made by AbbVie including the anti-inflammation drug Humira, the popular painkiller Vicodin, and cholesterol drug Niaspan.
Abbott's chairman and CEO Miles White called the event "the most transformative action" in the company's 125-history. AbbVie CEO Richard Gonzalez said that with his company's existing assets and focus on innovation "we intend to create significant value for our shareholders."
Bottom line: Time will tell if this spinoff will be successful and Wells Fargo is the first to set a price target of $33 to $34. For now add this stock to your watch list and as more information becomes available place your trading accordingly. To review the company check out their website at www.abbvie.com/
Best of the Blogs
Scanning and identifying the best blog entries every hour
- WORLD ECONOMIES IN TROUBLE: Middle East Oil Exports Lower Than 40 Years Ago | ZeroHedge
- France: Decomposing In Front Of Our Eyes | ZeroHedge
- What Time Will The ECB Tip Its Hand | ZeroHedge
- What Has Gone Wrong With Oil Prices, Debt, & GDP Growth? | ZeroHedge
- The Tide Is Turning Against The Oligarchs | ZeroHedge
- Meet the 2017 FOMC | Financial Sense
- Hope and Caution | Financial Sense
The most relevant financial news and articles from the Internets
- You can learn a major key to career success from emergency directions... | Business Insider
- John Glenn, who died Thursday, was the first American to orbit the Earth... | Business Insider
- Michael Jordan just won a landmark case over... | Business Insider
- I 'went about it the wrong way': Pizzeria gunman explains his... | Business Insider
- A sleep doctor reveals the weirdest things people do in their sleep without... | Business Insider
- Joe Buck once had to use the bathroom so badly during a game that he called a... | Business Insider
- Expanded gift card and loyalty features could boost Apple... | Business Insider