Abbvie

By Angela Palumbo AbbVie beat revenue expectations for its fiscal fourth quarter and raised its long-term sales outlook for two of its biggest immunology drugs. Humira revenue slumped in the quarter, hit by competition. AbbVie posted fourth-quarter earnings of $2.79 a share, which were in line with analyst’s expectations but down from $3.60 a share last year. Revenue of $14.3 billion beat the consensus call for $14 billion but was down from last year’s $15.1 billion. “2024 is an exciting year for AbbVie, as we are well positioned to fully absorb Humira erosion and achieve modest operational revenue growth, followed by a return to robust growth in 2025,” Chief Executive Richard Gonzalez said in a press release. Sales in the company’s immunology portfolio — the portfolio that brings in the most revenue — fell 12% from last year as Humira faces biosimilar competition. Humira is a treatment of certain inflammatory […]

AbbVie Announced Topline Results From Phase 3 SEQUENCE Trial Of Skyrizi (Risankizumab) Versus Stelara (Ustekinumab); The Study Met Its Primary Endpoint In Patients With Moderately To Severely Active Crohn’s Disease Who Have Failed One Or More Anti-TNFs.

AbbVie (NYSE:ABBV) reported Q2 adjusted earnings  of $2.91 per diluted share, down from $3.37 a year earlier. Analysts polled by Capital IQ expected $2.81. Net revenue for the quarter ended June 30 was $13.87 billion, down from $14.58 billion a year earlier. Analysts surveyed by Capital IQ expected $13.52 billion. The company said it is raising its full-year 2023 adjusted earnings guidance to $10.90 to $11.10 per diluted share from $10.57 to $10.97. Analysts polled by Capital IQ expect adjusted EPS of $10.89.

AbbVie(NYSE:ABBV) reported Q1 adjusted earnings  of $2.46 per diluted share, compared with $3.16 a year earlier. Analysts polled by Capital IQ expected $2.48. Net revenue for the quarter ended March 31 was $12.23 billion, compared with $13.54 billion a year earlier. Analysts surveyed by Capital IQ expected $12.25 billion. The company raised its adjusted earnings guidance for full-year 2023 to $10.72 to $11.12 per diluted share from $10.62 to $11.02. Analysts polled by Capital IQ expect 2023 adjusted earnings of $10.95.

Abbvie Inc. (NYSE:ABBV) said late Wednesday it expects its Q1 per-share adjusted earnings to take a $0.08 hit from acquired in-process research and development and milestones expense of $150 million on a pre-tax basis. The company expects Q1 adjusted EPS of $2.31 to $2.41, including the impact, according to a regulatory filing. Analysts surveyed by Capital IQ project $2.56 per share. For 2023, AbbVie said it now expects adjusted EPS of $10.62 to $11.02, compared with its prior range of $10.70 to $11.10. Analysts polled by Capital IQ expect $11.07 per share.

CEO of Abbvie Inc. (NYSE:ABBV): has the ability to conduct larger M&A activity.

Abbvie Inc. (NYSE:ABBV) reported Q4 adjusted earnings Thursday of $3.60 per diluted share,Analysts polled by Capital IQ expected $3.58. Revenue for the quarter ended Dec. 31 was $15.12 billion, Analysts surveyed by Capital IQ expected $15.30 billion. For the full year of 2023, the company is expecting adjusted earnings of $10.70 to $11.10 per diluted share. Analysts polled by Capital IQ are expecting $11.68.