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A bellwether stock in the lately rather up-and-down pharmaceutical sector, AbbVie (ABBV 3.31%) finished the trading week in style. The company's shares closed more than 3% higher in price thanks in no small part to a clutch of post-earnings analyst price-target increases.
On Thursday, AbbVie Inc. ABBV reported second-quarter 2025 sales of $15.42 billion on Thursday, beating the consensus of $14.98 billion.
Measures laid out in letters to 17 companies would either have modest impact or face legal challenges, say industry experts.
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Former FDA Commissioner Dr. Scott Gottlieb joins 'Squawk Box' to discuss news of President Trump ordering pharma companies to lower U.S. drug prices in the next 60 days, the move to tiered pricing globally, the future of gene therapy, changes at FDA, and more.
CNBC's Joe Kernen reports on the latest news.
Shares of AbbVie (ABBV -0.24%) were bouncing along merrily for most of Thursday's trading session, until news of a fresh demand from the White House quashed the rally. Initially, the market was cheered by better-than-expected quarterly results published by the company that morning.
U.S. President Donald Trump sent letters to the chief executives of 17 major pharmaceutical companies, urging immediate action to lower the cost of prescription drugs for Americans, the White House said on Thursday.
CNBC's Angelica Peebles joins 'The Exchange' to discuss President Trump posting letters to 17 pharmaceutical companies about drug prices.
President Donald Trump said he asked major pharmaceutical companies to take steps to cut U.S. drug prices within the next 60 days. It comes after Trump in May signed an executive order reviving a controversial policy that aims to slash drug costs by tying the prices of some medicine in the U.S. to the significantly lower ones abroad.