Health-care companies fell sharply as earnings season left a lukewarm impression.
Shares of AbbVie tumbled even after the drugmaker posted better-than-expected third-quarter earnings and revenue, raised its profit forecast for fiscal 2023 earnings, and increased its dividend. There’s an overriding concern that AbbVie will struggle to replace its blockbuster Humira, which is now out of patent protection, and seeing sales slow dramatically.
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