AbbVie looking for next hit drug after competitors target Humira, WSJ reports

Now that its immune-disease therapy Humira is facing lower priced competition, AbbVie is looking for its next hit drug to replenish billions of dollars that will be lost in sales, Jared Hopkins of The Wall Street Journal reports, citing comments made by CEO Richard Gonzalez. The company is also betting on four drug approvals by the end of the year. AbbVie is also lifting a self-imposed $2B limit on the size of deals it would make to add more products. "We knew this day would come… And we built a strategy and executed that strategy to be able to ensure that we can absorb this impact," Gonzalez told the Journal in an interview. Reference Link