AbbVie beats forecasts, as Humira sales keep soaring

US drugmaker AbbVie (NYSE: ABBV), now in its second year as an independent spin-out for Abbott, pleased investors with its first-quarter 2014 financials, fuelled by continued growth for its blockbuster rheumatoid arthritis drug Humira (adalimumab), already the current best-selling drug worldwide.

AbbVie posted a 5.4% rise to $4.56 billion in global revenues, beating Wall Street expectations of $4.33 billion. Without the impact of a stronger US dollar, sales would have risen 6.7%. Net earnings for the quarter were up a modes7 1.2% to $980 million, or $0.61 per share. Excluding special charges, AbbVie’s earnings per share were $0.71 (above previous guidance in the range of $0.67-$0.69), beating analysts’ average expectations of $0. 68, according to Thomson Reuters I/B/E/S. AbbVie shares rose 2.4% to $50.51 in early trading on Friday. The stock had gained 11% in the 12 months through the previous day, noted Bloomberg.

Full-year 2014 outlook