AbbVie raises full-year profit forecast as Humira fuels sales beat [Reuters]
AbbVie Inc. (ABBV)
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Source: Reuters
By Reuters Staff 2 Min Read April 30 (Reuters) - AbbVie Inc beat Wall Street estimates for first-quarter revenue on Friday and raised its full-year profit forecast, helped by demand for blockbuster rheumatoid arthritis drug Humira and newer treatments such as psoriasis treatment Skyrizi. Humira sales rose 3.5% to $4.87 billion, beating expectations of $4.78 billion. Sales, however, fell 8.3% in markets outside the United States due to rising competition, especially in Europe. The world’s best selling medicine, approved to treat psoriasis and rheumatoid arthritis, is also expected to face competition in the United States after 2023. AbbVie is now banking on newer treatments such as Skyrizi and rheumatoid arthritis drug Rinvoq to blunt the blow. Sales of Skyrizi surged about 91% to $574 million in the first quarter ended March 31, beating estimates of $569.89 million, according to IBES data from Refinitiv. Net revenues rose nearly 51% to $13.01 billion, ahead of estimates of $12.76 bil
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