Last year, this pharmaceutical giant lost patent exclusivity for its biggest cash cow, immunology medicine Humira. The drugmaker has rebounded quite nicely since. It has returned to top-line growth in the second quarter, much earlier than many anticipated. Everything should be going swimmingly for the company.
However, on Nov. 11, its shares dropped by about 12% following a clinical setback. Though the market’s reaction is understandable, this decline represents an excellent opportunity to pick up shares from the discount bin.
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