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
- STTG Market Recap Apr 23, 2015 | FundMyMutualFund
- Electric Car Sales Plunge To 4 Year Lows | ZeroHedge
- It's A Mania - Behold The Red Chips And The Big Macs | ZeroHedge
- Second Quarter Outlook | Financial Sense
- 8 Charts That Prove The US Is Already In A Recession | ZeroHedge
- More Clinton Cronyism: Selling Uranium Interests To Russia While Hillary Was SecState | ZeroHedge
- How The Second Tech Bubble Will Burst, In The Words Of Silicon Valley's "Poster Child" And World's Youngest Billionaire | ZeroHedge
The most relevant financial news and articles from the Internets
- Dr. Oz responds to critics: 'My show is not a medical show' | Business Insider
- A change in Facebook's top paid execs speaks volumes... | Business Insider
- MAJOR MUSICIANS BLAST TIDAL: 'This thing is going to fail miserably' | Business Insider
- Malaria vaccine offers partial protection: final results | Business Insider
- Sony offered Daniel Craig $5 million... | Business Insider
- This blog called 'I Saw Your Nanny' lets people anonymously rat out caretakers they see... | Business Insider
- BRUCE JENNER: 'I'm not gay, I'm heterosexual' | Business Insider