Coronavirus stockpiling lifts AbbVie 1st-qtr sales and earnings
US pharma major AbbVie (NYSE: ABBV) closed trading up modest a 0.8% at $82.84 on Friday, despite reporting first-quarter 2020 financials that beat Wall Street predictions.
Worldwide net revenues were $8.619 billion, an increase of 10.1% on a reported basis, or 10.7% percent operationally, including a 240 basis point stocking benefit related to the COVID-19 pandemic. This beat consensus analysts’ expectations by around 4%.
On a generally accepted accounting principles (GAAP) basis, net interest expense was $428 million. The adjusted net interest expense was $284 million.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze