Humira drug sales growth offsets net foreign exchange loss, as AbbVie gets approvals for Viekira Pak.
U.S. biopharmaceutical research company, AbbVie Inc. (ABBV), announced its
fourth quarter earnings of 2014 on Friday, before the market opened. The earnings
surpassed the Street’s estimates, as the some drugs, especially Humira, generated
outstanding revenue growth.
The net revenues of the drug maker jumped 6.67% year-on-year to $5.45 billion, from
$5.11 billion.
AbbVie reported net loss of $810 million ($0.51 per share) in the fourth quarter of 2014,
down from net profit of $1.13 billion ($0.7 per share) in the same quarter last year.
Adjusted earnings per share (EPS) were $0.89.
The company thrashed the Street’s estimates of $0.86 EPS with $5.36 billion revenues.
"AbbVie delivered exceptional performance in 2014 with sales and earnings well above
our original projections for the year," Chairman and CEO of AbbVie, Richard A.
Gonzalez, said in quarterly press conference. "We returned to growth in 2014, a year
ahead of schedule, and we expect to continue building on that momentum in 2015 with
another year of strong performance.”
The company reported a net loss due to a charge for abandoning $55 billion deal to
acquire Shire Plc. (NASDAQ:SHAPG). AbbVie had to pay a charge of $1.6
billion,
Illinois-based company’s largest drug in terms of sales, Humira, contributes more than
half of total revenues of the company. Revenues of Humira jumped 10.6% YoY to 3.36
billion in the quarter, as the growth rate in the U.S. was strong. Export revenue
of Humira was affected by 3.8% due to
After U.S. Food and Drug Administration approved a hepatitis C multidrug, Viekira Pak,
on 19th December, the drug provided revenues of $48 million in the remain days of the
month. The company no longer has to rely solely on Humira, after the approval
of Viekira Pak. The Hepatitis C multidrug is expected to contribute $2.5 billion to total
revenue at 2015 year-end.
Other drugs also generate healthy revenue growth. Dyslipidemia revenues rose 13.6%
to 104 million, while revenues from Duodopa mounted 14.7% to 56
million. Creon jumped 30.6% to 151 million. Rest of the drugs either underperformed or
their revenues were affected due to strengthening of dollar. Net foreign loss rose 89.7%
to $96 million
Total operating cost and expense mounted 64% YoY to $5.87 billion, as selling, general
and administrative expenses jumped 130.73% YoY to 3.34 billion in the fourth quarter,
due to additional overhead costs associated to recent launch of HCV and promotion of
growth brands. Research and development expense increased 10.15% YoY to $879
million in the fourth quarter.
fourth quarter earnings of 2014 on Friday, before the market opened. The earnings
surpassed the Street’s estimates, as the some drugs, especially Humira, generated
outstanding revenue growth.
The net revenues of the drug maker jumped 6.67% year-on-year to $5.45 billion, from
$5.11 billion.
AbbVie reported net loss of $810 million ($0.51 per share) in the fourth quarter of 2014,
down from net profit of $1.13 billion ($0.7 per share) in the same quarter last year.
Adjusted earnings per share (EPS) were $0.89.
The company thrashed the Street’s estimates of $0.86 EPS with $5.36 billion revenues.
"AbbVie delivered exceptional performance in 2014 with sales and earnings well above
our original projections for the year," Chairman and CEO of AbbVie, Richard A.
Gonzalez, said in quarterly press conference. "We returned to growth in 2014, a year
ahead of schedule, and we expect to continue building on that momentum in 2015 with
another year of strong performance.”
The company reported a net loss due to a charge for abandoning $55 billion deal to
acquire Shire Plc. (NASDAQ:SHAPG). AbbVie had to pay a charge of $1.6
billion,
Illinois-based company’s largest drug in terms of sales, Humira, contributes more than
half of total revenues of the company. Revenues of Humira jumped 10.6% YoY to 3.36
billion in the quarter, as the growth rate in the U.S. was strong. Export revenue
of Humira was affected by 3.8% due to
After U.S. Food and Drug Administration approved a hepatitis C multidrug, Viekira Pak,
on 19th December, the drug provided revenues of $48 million in the remain days of the
month. The company no longer has to rely solely on Humira, after the approval
of Viekira Pak. The Hepatitis C multidrug is expected to contribute $2.5 billion to total
revenue at 2015 year-end.
Other drugs also generate healthy revenue growth. Dyslipidemia revenues rose 13.6%
to 104 million, while revenues from Duodopa mounted 14.7% to 56
million. Creon jumped 30.6% to 151 million. Rest of the drugs either underperformed or
their revenues were affected due to strengthening of dollar. Net foreign loss rose 89.7%
to $96 million
Total operating cost and expense mounted 64% YoY to $5.87 billion, as selling, general
and administrative expenses jumped 130.73% YoY to 3.34 billion in the fourth quarter,
due to additional overhead costs associated to recent launch of HCV and promotion of
growth brands. Research and development expense increased 10.15% YoY to $879
million in the fourth quarter.
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