AbbVie lifts profit target after cancer drug powers third-quarter beat [Reuters]
AbbVie Inc. (ABBV)
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Source: Reuters
AbbVie lifts profit target after cancer drug powers third-quarter beat | Reuters 2 Min Read (Reuters) - AbbVie Inc ( ABBV.N ) beat Wall Street estimates for third-quarter profit and raised its earnings forecast for the year on Friday, driven by strong sales of blockbuster cancer medicine Imbruvica. Imbruvica, which the company markets with partner Johnson & Johnson ( JNJ.N ), brought in $972 million in the third quarter, up 41 percent from a year earlier and above the average Wall Street estimate of $885.6 million. The drug has won nine FDA approvals to treat six diseases, most recently receiving the green light to treat a rare form of blood cancer in combination with Roche Holding AG’s ( ROG.S ) cancer drug Rituxan. In the quarter ended Sept. 30, AbbVie’s top-selling drug Humira generated revenue of $5.12 billion, ahead of the $5.10 billion forecast by nine analysts polled by IBES Refinitiv. However, revenue from Hepatitis C medicine Mavyret disappointed, with the drug bringing
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ABBV
Earnings
- 2/2/24 - Beat
ABBV
Sec Filings
- 4/3/24 - Form 8-K
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- ABBV's page on the SEC website