The Current Best-Selling Drug in the World Drives AbbVie's Q1 Profit Higher by 4%

On the back of rheumatoid arthritis drug Humira, AbbVie delivers steady top- and bottom-line growth and reaffirms its full-year outlook.

Apr 25, 2014 at 12:27PM

Global pharmaceutical giant AbbVie (NYSE:ABBV) reported another quarter of steady growth in Q1 this morning, with the current best-selling drug in the world, Humira, once again leading the way.

For the quarter, AbbVie reported revenue of $4.56 billion, a 5.4% increase from the year-ago period and inclusive of a negative 1.3% effect from currency translation. Humira, the company's rheumatoid arthritis blockbuster, delivered 17.5% worldwide sales growth to $2.64 billion for the quarter, putting it on pace for more than $10 billion in annual sales. U.S. sales provided much of the spark with revenue domestically up 24.7%.

Also boosting AbbVie's topline was low testosterone therapy AndroGel, which grew sales by 6% to $254 million; hypothyroidism drug Synthroid, whose sales jumped an impressive 31.5% to $157 million; and Creon, an exocrine pancreatic insufficiency medication, which delivered an 18.4% increase in sales to $107 million.

Profit for the quarter improved by a modest 4.4% to an adjusted $0.71 per share, largely due to Humira's higher sales, but partially offset by higher research and development, as well as selling, general and administrative expenses. Nonetheless, adjusted gross margin expanded 220 basis points to 78.4%.

Looking forward, AbbVie reaffirmed its previously issued full-year guidance which calls for $3-$3.10 in adjusted EPS on revenue of approximately $19 billion. This forecast excludes any potential revenue benefit it could receive from its direct-acting antiviral candidate for hepatitis C were it to be approved and hit pharmacy shelves before the year is out. AbbVie submitted the new drug application for its DAA HCV drug earlier this week.

Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Money to your ears - A great FREE investing resource for you

The best way to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as “binge-worthy finance.”

Feb 1, 2016 at 5:03PM

Whether we're in the midst of earnings season or riding out the market's lulls, you want to know the best strategies for your money.

And you'll want to go beyond the hype of screaming TV personalities, fear-mongering ads, and "analysis" from people who might have your email address ... but no track record of success.

In short, you want a voice of reason you can count on.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich," rated The Motley Fool as the #1 place online to get smarter about investing.

And one of the easiest, most enjoyable, most valuable ways to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as "binge-worthy finance."

Whether you make it part of your daily commute or you save up and listen to a handful of episodes for your 50-mile bike rides or long soaks in a bubble bath (or both!), the podcasts make sense of your money.

And unlike so many who want to make the subjects of personal finance and investing complicated and scary, our podcasts are clear, insightful, and (yes, it's true) fun.

Our free suite of podcasts

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. The show is also heard weekly on dozens of radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable. Rule Breaker Investing and Answers are timeless, so it's worth going back to and listening from the very start; the other three are focused more on today's events, so listen to the most recent first.

All are available for free at www.fool.com/podcasts.

If you're looking for a friendly voice ... with great advice on how to make the most of your money ... from a business with a lengthy track record of success ... in clear, compelling language ... I encourage you to give a listen to our free podcasts.

Head to www.fool.com/podcasts, give them a spin, and you can subscribe there (at iTunes, Stitcher, or our other partners) if you want to receive them regularly.

It's money to your ears.

 


Compare Brokers