AbbVie inaugural full-year outlook for 2013 in line with expectations

Newly spun-out from Abbott Labs, research-based pharma company AbbVie (NYSE: ABB) yesterday confirmed it delivered strong sales growth with its marketed pharmaceutical products in 2012, as reported by Abbott (The Pharma Letter January 23). Humira, which generated full-year 2012 sales of $9.26 billion, up 8.5%, and AndroGel and continued growth from the company's portfolio of market-leading therapies, including Creon and Synthroid.

Additionally, AbbVie is issuing adjusted earnings-per-share guidance for the full-year 2013 of $3.03 to $3.13, or $2.66 to $2.76 on a Generally Accepted Accounting Principles (GAAP) basis, in line with Wall Street expectations. The company's 2013 adjusted earnings-per-share guidance excludes $0.37 per share of non-cash intangible amortization expense and specified items, primarily associated with certain separation-related costs and previously announced ongoing restructuring activities.

"AbbVie's portfolio of marketed products delivered solid growth in 2012, positioning us well for healthy performance in our first year as an independent company," said Richard Gonzalez, chairman and chief executive of AbbVie. "In 2013, we expect to deliver on AbbVie's key priorities of driving continued strong growth of Humira, maximizing our specialty product portfolio, advancing our promising pipeline including our late-stage HCV program, and delivering returns to shareholders through our strong dividend."