Episode 211: Today, John digs into why pharma giant AbbVie is writing a $10.9 billion check for a clinical-stage company with no approved drugs and no product revenue - and why the “patent cliff” is forcing drugmakers to shop early. Then we take a spin through the headlines - including Getty’s deal with OpenAI and UPS’s investment in their cold chain logistics network. Next, we play a round of Overheard on Earnings with Morning Brew Daily’s Neal Freyman… you can play along… you might score higher than Neal. Finally, we remember former Fed Chair, Alan Greenspan. Visit: Aflac.com/BrewMarkets www.brewmarkets.com Subscribe to the Brew Markets newsletter: https://www.morningbrew.com/brew-mark... Follow Brew Markets on social: Instagram: instagram.com/brewmarkets TikTok: tiktok.com/@brewmarkets X: x.com/brewmarkets Follow Ann Berry on social: Instagram: instagram.com/annberry_nyc X: x.com/AnnBerry_NYC Listen to Brew Markets Here: swap.fm/l/9Qk4z73Z2nEwFiCB4qee Watch Brew Markets Here:⁠ https://www.youtube.com/@BrewMarkets Stocks mentioned: $ABBV $APGE $GETY $UPS $GOOGL $JNJ $REGN The content shared on this podcast is for informational and entertainment purposes only and should not be considered financial, legal, or investment advice. Brew Markets, Morning Brew and their hosts are not licensed financial advisors. Listeners should conduct their own research and consult with qualified professionals before making any financial decisions or investments. The views expressed are those of the hosts and guests and do not necessarily reflect the views of Morning Brew or its affiliates. This podcast may include paid endorsements or sponsorships Learn more about your ad choices. Visit megaphone.fm/adchoices

Big Pharma’s “Patent Cliff” & Overheard on Earnings

Brew Markets

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Getty Images, the stock price for the stock photo company, nearly doubling today. We have the latest on the company's evolving relationship with AI. Overheard on Earnings, we shine a light on some of the more peculiar moments from the earnings season that was, and the Patent Cliff, and how to hedge against it. We explore today's $11 billion Pharma deal and how it supports the drug pipeline. For Monday, June 22nd, it's Brew Markets Daily, and as on assignment, I'm John Croteau.

More market details to come, but first, it's just another merger Monday. AbbVie confirmed today that it would buy Apogee Therapeutics for $10.9 billion as it looks to bolster its next-gen immunology pipeline. AbbVie, ticker ABBV, is a biotech behemoth with a $400 billion market cap and patents on those drugs you see advertised throughout the evening TV schedule like SkyRizzy and Renvoke.

Those two specifically are part of AbbVie's highly lucrative immunology business, which is largely driven by the success of that blockbuster drug SkyRizzy. Last quarter, the segment overall brought in $7.3 billion to AbbVie, representing nearly half of the company's total revenue for the period. And although SkyRizzy and Renvoke lead the company's portfolio today, the segment was previously anchored by another AbbVie property, Humira, the anti-inflammatory drug that for a half a decade was the industry's most valuable medicine.

Big Pharma’s “Patent Cliff” & Overheard on Earnings

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Big Pharma’s “Patent Cliff” & Overheard on Earnings

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.