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AbbVie Drops 3.19% Amid Legal Battle, Revenue Up 3.71%
Generated by AI AgentAinvest Movers Radar
Monday, Apr 7, 2025 8:08 am ET1min read
On April 7, 2025, AbbVie's stock experienced a 3.19% drop in pre-market trading.
AbbVie, a global biopharmaceutical company, has been involved in a significant legal battle with
over alleged theft of commercial secrets. The dispute centers around Genmab's acquisition of Fuyao Biotech and the use of a proprietary technology in their ADC drug pipeline, including Rina-S. has filed a lawsuit in the U.S. District Court for the Western District of Washington, seeking damages and injunctive relief. Genmab has denied the allegations, stating that AbbVie has not developed any products using the purported commercial secrets.Additionally, AbbVie's financial performance for the year ending December 31, 2024, showed a 3.71% increase in total revenue to $56.33 billion, but a 12.03% decrease in net income to $4.28 billion. The company is set to release its first-quarter 2025 earnings report on April 25, 2025, which could provide further insights into its financial health and strategic direction.
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