AbbVie Rises on Stock Market Debut
Jan 3rd 2013 10:34AM
Updated Jan 3rd 2013 10:40AM
Shares in AbbVie rose in the company's first day of trading on the New York Stock Exchange Wednesday, NYSE data shows. The stock advanced from an opening price of $34.92 to $35.12 at market close.
Shortly before the debut, officials from the firm rang the NYSE's opening bell in the exchange's first trading day of this year.
AbbVie is a publicly traded spinoff of health care concern Abbott Laboratories . It specializes in the manufacture and sale of branded drugs, particularly the state-of-the-art, anti-inflammatory medication HUMIRA. According to a press release the company issued to mark its stock market debut, it has an estimated $18 billion in annual revenues.
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