When AbbVie Inc. (NYSE: ABBV) released its fourth-quarter financial results before the markets opened on Friday, the pharmaceutical giant said that it had $1.90 in earnings per share (EPS) and $8.31 billion in revenue. That compares with consensus estimates of $1.94 in EPS and $8.38 billion in revenue, as well as the $1.48 per share and $7.74 billion posted in the same period of last year.
Overall, global Humira sales increased 0.5%, excluding FX. In the United States, Humira sales grew 9.1% in the quarter. Internationally, Humira sales declined 14.8% operationally due to direct biosimilar competition in certain international markets.
Global net revenues from the hematologic oncology portfolio were $1.130 billion, an increase of 50.2%. Global Imbruvica net revenues were $1.006 billion, an increase of 42% and global Venclexta net revenues were $124 million.
At the same time, global HCV net revenues were $862 million.
Looking ahead to 2019, the company expects to see EPS in the range of $8.65 to $8.75. Consensus estimates are calling for $8.71 in EPS and $33.6 billion in revenue for the year.
Richard A. Gonzalez, board chair and chief executive, commented:
We delivered exceptional performance in 2018, including operational revenue growth of more than 15 percent and EPS growth above 40 percent. We’re entering an important new phase for AbbVie. The continued momentum of our business, combined with the launch and ramp of several new products, will allow us to drive strong earnings growth once again in 2019 and position us for growth over the longer term.
Shares of AbbVie were last seen down about 6% at $80.40 on Friday, in a 52-week range of $77.50 to $125.86. The consensus analyst price target is $97.18.
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