It's rarely a good sign when a company's quarterly revenue drops from the prior-year period. But that's exactly what happened in the first quarter for AbbVie (NYSE: ABBV). The big pharma's sales slipped 1.3% year over year to $7.83 billion. It marked the first quarter in AbbVie's history to report a revenue decline.
Make no mistake: AbbVie now faces its toughest challenge ever. However, the company's Q1 results don't tell the full story. Actually, AbbVie is in better shape than you might think.
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