Raleigh-Durham's Growth Story Is Moving Beyond Life Sciences

AbbVie (ABBV) reported Q3 earnings, maintaining oncology revenue guidance of $6.6b for 2026, with Venclexta and Imbruvica contributing $3.1b and $2.1b respectively. The company is advancing new treatments, offsetting concerns about Imbruvica's performance. Analysts highlight potential undervaluation in three unspecified companies.

AbbVie will pay $100M upfront (up to $1.47B total) to license NXE0033744, an IBD drug from Nxera Pharma. The drug targets gut cell death, unlike AbbVie's Skyrizi and Rinvoq, which focus on immune responses. NXE0033744 is designed to be gut-restricted, avoiding systemic side effects. The deal is subject to antitrust clearance.

Nxera Pharma (TSE: 4565) licensed its EP4 agonist program to AbbVie for global IBD treatment. Nxera receives $100M upfront, up to $1.37B in milestones, and royalties. Latham & Watkins advised AbbVie.

AbbVie (ABBV) and Nxera (SOLTF) have entered a licensing agreement for NXE0033744, a therapy for inflammatory bowel disease. The deal is worth up to $1.5B, with AbbVie gaining global rights to develop and commercialize the treatment.

Caterpillar (CAT) shares fell 9.25% after Q3 earnings, despite strong sales and profit growth. Morgan Stanley cut its price target to $675, citing risks in data center demand and construction de-stocking. CAT's backlog hit a record $78 billion, but bookings fell 11% QoQ. The stock is up 9.84% YTD, but Morgan Stanley expects a medium-term range of $550-$800.

Caterpillar reported Q3 2026 earnings with $7.2 EPS, beating estimates. The company highlighted a record $78B backlog, strong demand in power generation, and plans to expand manufacturing capacity. Management maintained its full-year outlook despite cost pressures, including $2.2B in tariff costs. Sales grew 17% YoY to $20.68B, driven by higher volumes and pricing.