AbbVie Rises on First Trading Day After Spinoff From Abbott
This article is for subscribers only.
Abbott Laboratories and its drug-company spinoff AbbVie Inc. both gained as their shares traded on the open market for the first time as separate businesses.
Abbott shares climbed 2.3 percent to $32.05 at the close in New York, giving the company a market value of about $50.7 billion. AbbVie shares gained 2.8 percent to $35.12 for a valuation of $55.5 billion. The stocks had traded on a when-issued basis in December.