North Chicago, IL-based AbbVie (ABBV – Analyst Report), which has been in the news thanks to its hepatitis C virus (HCV) treatment Viekira Pak as well as its acquisition of Pharmacyclics, is best known for its autoimmune disease drug, Humira.
Humira, the company’s flagship product which is approved for a wide range of indications, 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. Key players in the HCV market include Gilead’s Sovaldi and Harvoni with Merck’s recently approved Zepatier expected to enter the market shortly.
Meanwhile, the Pharmacyclics acquisition has diversified AbbVie’s product portfolio with the addition of Imbruvica.
ABBV has a pretty good earnings track record with the company delivering positive earnings surprises in the last four quarters with an average surprise of 6.03%. Estimate revisions are mostly positive for 2016.
Currently, ABBV 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:
In-Line Earnings: ABBV’s fourth quarter earnings came in at $1.13 per share, in-line with the Zacks Consensus Estimate.
Revenues: AbbVie posted revenues of approximately $6.4 billion, almost in line with the Zacks Consensus Estimate.
Key Stats: Humira sales came in at $3.7 billion. Fourth-quarter Imbruvica sales were $343 million. Viekira sales were $554 million in the fourth quarter.
Confirms 2016 Outlook: AbbVie confirmed its 2016 EPS outlook of $4.90 – $5.10, representing double-digit growth. The Zacks Consensus Estimate is currently $5.04 per share.
Pre-Market Trading: Shares were down 2.06% in pre-market trading.
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