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AbbVie Forms Flat Base Ahead Of Q3 Earnings Report

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After shares of pharmaceutical company AbbVie (NYSE: ABBV) plummeted at the somewhat scary rate of 6.66% the week ended September 3, analysts began focusing on what caused the decline.

Since then, the stock hasn't managed to regain much-lost ground, but it's forming a flat base ahead of its third-quarter report on October 29.

Illinois-based AbbVie began trading as its own entity in 2013 after being split off from Abbott Laboratories. Abbott retained the medical products business, while AbbVie develops pharmaceutical products to treat conditions in the areas of immunology, oncology and virology, among others.

AbbVie continues to notch great earnings and analysts have fairly strong forecasts, so what happened to the stock in September? For the month, it was down 10.69%.

The skid centered around AbbVie's rheumatoid arthritis treatment Rinvoq. In early September, the FDA revised the warning language on Rinvoq packaging to include information about greater risks of serious and potentially fatal heart........

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