Accelerated growth for AbbVie’s Humira lifts 3rd-quarter results above expectation
Shares of US drugmaker AbbVie (NYSE: ABBV) were up 2.4% at $49.09 in afternoon trading on the New York Stock Exchange on Friday (October 25), having already risen 44% this year, after the company posted third-quarter 2013 financial results that beat analysts’ projections.
Worldwide sales were $4.66 billion in the third quarter, up 3.3% and beating Wall Street expectations of $4.52 billion. On an operational basis, sales increased 3.6%, excluding a 0.3% unfavorable impact from foreign exchange rate fluctuations. Sales increased in the quarter despite the decline in TriCor/Trilipix (fenofibrate) sales due to the loss of exclusivity. Excluding TriCor/Trilipix sales and foreign exchange, sales increased 10.9 in the quarter. Rheumatoid arthritis drug Humira (adalimumab), which accounts of more than half of AbbVie’s turnover, saw accelerated year-on-year growth of 19.1% to $2.77 billion in the reporting quarter
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