Excellent quarter from AbbVie, but market still skeptic about pipeline

US-based AbbVie on Friday reported new positive quarter results to the financial community. The group’s sales were up 18.5% and EBIT was up 31%, reaching $2.7bn. Sales from Humira, the best-sold drug in the world, keep increasing, indeed revenues increased by 9.5% in the third quarter, despite the treatment’s patent has expired, with benefits to competitors Amgen, Sandoz, Mylan and Samsung Bioepis, which two weeks ago launched their generic copies of Humira in Europe at a price 10-80% lower than it. Investors are concerned by Humira still accounting for 60% of AbbVie group’s sales, indeed its shares have lost 20% of their value as compared to the beginning of the year, since they feel the company has no real alternative to Humira. However, the management is trying to convince the market that AbbVie’s pipeline includes plenty of potential blockbusters, with potential to differentiate the portfolio. The most important of them would be cancer drug Imbruvica, whose sales have increased by 44%.

(Source: AbbVie)