AbbVie Sees Signs of Post-Humira Growth in Positive 2024 Outlook [BNN Bloomberg (Canada)]
ImmunoGen, Inc. (IMGN)
Last immunogen, inc. earnings: 5/1 06:30 am
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Source: BNN Bloomberg
Adjusted earnings for the year will be $11.05 to $11.25 a share, AbbVie said in a statement Friday, up from its earlier view of at least $11 a share. The outlook includes a 32 cents per share charge from acquisitions expected to close in the middle of 2024. Humira, a treatment for inflammatory diseases like arthritis, is one of the best-selling drugs of all time and generated more than a third of AbbVie's 2022 revenue. Increasing competition from cheaper biosimilars dragged the medication's 2023 sales down 41% over the last year to $3.3 billion in the fourth quarter. AbbVie is “well positioned to fully absorb Humira erosion and achieve modest operational revenue growth,” Chief Executive Officer Richard Gonzalez said in the statement. The drugmaker has been counting on newer biologics like Skyrizi and Rinvoq to help soften the blow. Both drugs beat Wall Street's estimates in the fourth quarter and AbbVie lifted its combined 2027 sales outlook for the duo to $27 billion, up $6 bi
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IMGN
Earnings
- 11/2/23 - Beat
IMGN
Sec Filings
- 2/12/24 - Form 4
- 2/12/24 - Form 4
- 2/12/24 - Form 4
- IMGN's page on the SEC website