Countdown To The Allergan Merger, And More From AbbVie’s Q4 Earnings
Despite Humira’s ex-US sales erosion, AbbVie reports strong launches for Skyrizi and Rinvoq, continued growth for hematological oncology franchise, and boasts it has a thriving R&D engine.
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Continuing its longstanding effort to assure investors about growth past Humira’s US patent expiry in 2023, the pharma outlined label-expansion and market share plans for its two newer immunology drugs.
AbbVie made only a slight adjustment to its earnings-per-share guidance despite expected Q2 downturn due to the pandemic. It sees Allergan’s aesthetic business as bouncing back quickly.
Big pharma stocks, with few exceptions, saw big declines in valuation in the quarter amid the COVID-19 stock market rollercoaster, but pharma outperformed the S&P 500, showing the industry's resiliency in a global health crisis.