North Chicago, IL-based AbbVie Inc. (ABBV - Free Report) is best known for its autoimmune disease drug, Humira. AbbVie’s flagship product Humira is approved for several indications like rheumatoid arthritis (moderate to severe), moderately to severely active polyarticular juvenile idiopathic arthritis, active psoriatic arthritis, active ankylosing spondylitis, Crohn’s disease (moderate to severe), ulcerative colitis (moderate to severe), axial spondyloarthritis, pediatric Crohn’s disease, chronic plaque psoriasis (moderate to severe), and hidradenitis suppurativa (moderate to severe. Other key products include Imbruvica (cancer) and Viekira Pak (hepatitis C virus (HCV) treatment).
Humira, is a major contributor to AbbVie’s top line. While Humira will remain the key growth driver at AbbVie, the coming quarters will see investor focus remaining primarily on Viekira’s performance as well as pipeline updates.
Meanwhile, the Pharmacyclics acquisition has diversified AbbVie’s product portfolio with the addition of Imbruvica.
AbbVie’s performance has been mixed, with the pharmaceuticals company delivering positive surprises in the two of the past four quarter while recording in-line earnings in the other two. The average earnings beat over the last four quarters is 1.65%.
Currently, AbbVie has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: AbbVie's second-quarter earnings came in at $1.42 per share, beating the Zacks Consensus Estimate of $1.40.
Revenues: AbbVie posted revenues of $6.94 billion, marginally beating the Zacks Consensus Estimate of $6.93 billion.
Key Stats: Humira sales came in at $4.7 billion, up 14.9% year over year excluding currency impact. Second-quarter Imbruvica net revenues were $626 million, up 42.6% year over year.
2017 Outlook: AbbVie reiterated its previously issues outlook for 2017. The company maintains its adjusted EPS in the range of $5.44–$5.54. The Zacks Consensus Estimate is currently pegged at $5.52 per share.
Share Price Impact: Shares were up almost 2% in pre-market trading.
Check back later for our full write up on this AbbVie earnings report.
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