Set a million monkeys loose with Yahoo Finance and a word processor, and what do you get? The answer, it would appear, is Seeking Alpha, a content farm with no particular editorial standards. We wrote last week about blatant, significant errors being covered up without acknowledgement. This morning, we encountered another wastebasket-worthy piece on AbbVie(ABBV). Imagine writing about Coca Cola(KO) without discussing soda, or Microsoft(MSFT) without discussing Windows. For AbbVie, Humira accounts for over 50% of revenues and over 70% of profits. For all intents and purposes, AbbVie is Humira, and Humira is AbbVie. How then, can we take seriously this morning’s piece by Seeking Alpha contributor Josh Hutheson? The article never mentions Humira by name; it blithely states “although ABBV has some drugs coming off patent over the next couple of years” without mentioning the extreme dependence on Humira, which will be coming off patent in 2016. Says Hutheson “AbbVie is a research-based pharmaceutical company with a broad and sustainable portfolio of market-leading proprietary pharmaceuticals and biologics sold worldwide.” Broad and sustainable? Hardly! Hutheson is bullish on the pipeline, without acknowledging the high failure rate of drugs in even late stage clinical trials. Perhaps most disturbing, the article inexplicably [...]
The post More AbbVie Inanity On Seeking Alpha With A Dose Of Penny Stock Promotion appeared first on Stock Spinoffs.