January 2, 2013
December saw shares of Rigel Pharmaceuticals (NASDAQ: RIGL ) drop more than 20%. The tumble happened after Rigel's partner AstraZeneca (NYSE: AZN ) released phase 2b data concerning their experimental rheumatoid arthritis drug fostamatinib. While the drug outperformed the placebo, it failed to beat AbbVie's (NYSE: ABBV ) Humira. (AbbVie, formerly the branded pharmaceutical division of health care powerhouse Abbott Labs (NYSE: ABT ) , is now listed on the NYSE). In this video, Motley Fool health care analysts Max Macaluso and Brenton Flynn break down this story for investors.
Wondering about that new position in your portfolio? For some Abbott Labs shareholders, the new year brought with it a new company called AbbVie. Formerly Abbott's branded pharmaceuticals business, shares of the new stock were distributed to investors on Jan. 2. To help investors better understand the situation, The Fool has created a brand new premium report on both stocks. Inside, we outline all of the must-know opportunities and risks facing both companies, so make sure to claim this 2-for-1 report by clicking here now.