Health and Healthcare

AbbVie Wows Again With Q4 Results

smartstock / Getty Images

When AbbVie Inc. (NYSE: ABBV) released its fourth-quarter financial results before the markets opened on Friday, the pharmaceutical giant said that it had $2.21 in earnings per share (EPS) and $8.7 billion in revenue. The consensus estimates had called for EPS of $2.19 on $8.69 billion in revenue, and the same period of last year reportedly had $1.90 in EPS and revenue of $8.3 billion.

During the most recent quarter, worldwide net revenues increased 4.8% on a reported basis, or 5.3% operationally.

Excluding the unfavorable impact of international Humira net revenues due to biosimilar competition, fourth-quarter net revenues grew 11.0% operationally. U.S. Humira net revenues were $3.969 billion, an increase of 9.8%, and International Humira net revenues were $948 million, a decrease of 27.3%.

Separately, global Ibruvica net revenues were $1.296 billion, an increase of 28.9%, with U.S. net revenues of $1.073 billion and international profit-sharing of $223 million. Global Venclexta net revenues were $251 million. Global net revenues from the hematologic oncology portfolio were $1.547 billion, an increase of 37.0% on a reported basis, or 37.2% operationally.

Note that AbbVie and Allergan have entered into definitive agreements to divest brazikumab and Zenpep in conjunction with the ongoing regulatory approval process for AbbVie’s acquisition of Allergan. AstraZeneca will acquire brazikumab and Nestle will acquire and take full operational ownership of Zenpep.

Looking ahead to the 2020 full year, the company expects to see EPS in the range of $9.61 to $9.71, with standalone revenue growth approaching 8.0% on an operational basis. Consensus estimates call for $9.48 in EPS and $35.06 billion in revenue.

Richard A. Gonzalez, board chair and chief executive, commented:

Our strong performance this quarter completes another excellent year for AbbVie. The launches of Skyrizi and Rinvoq are going extremely well, and we are entering 2020 with substantial momentum. We also look forward to completing the planned Allergan acquisition in the first quarter.

Shares of AbbVie traded up over 5% at $92.06 on Friday, in a 52-week range of $62.66 to $92.07. The consensus price target is $95.25.


100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.