AbbVie, the Illinois-based company develops and markets therapies focused on treating rheumatology, gastroenterology, dermatology, oncology, virology, neurological disorders and metabolic diseases conditions.
The company recorded sales of $25.6 billion in 2016 an increase by 12% compared to $22.8 billion in 2015. The earnings per share in 2016 was $3.65. This can be attributed primarily by the continued strength of HUMIRA (adalimumab), post-acquisition revenue growth related to IMBRUVICA (ibrutinib) and revenue growth in other key products including Creon (pancrelipase) and Duodopa (carbidopa and levodopa enteral suspension). Global HUMIRA sales increased 16% and Creon by 15.5% along with Duodopa at 18% in 2016. These increases were partially offset by a decline in net revenues of Kaletra (lopinavir and ritonavir) (-16.9%) and VIEKIRA (dasabuvir, ombitasvir, paritaprevir, and ritonavir) (-6.4%). The fiscal fourth quarter (Q4) sales were $6.7 billion, an increase of ~7% compared to 2015 Q4 sales. Strong sales growth was driven by continued momentum across all three major market categories – rheumatology, dermatology and gastroenterology along with increased sales growth of HUMIRA.
Strategic highlights: (Q4, 2016)
Johns Hopkins University School of Medicine for a five-year collaboration agreement with the goal of advancing medical oncology research and discovery. (Dec)
Northwestern University signed a five-year collaboration agreement for advancing research and discovery in oncology. (Dec)
Submits New Drug Application to U.S. FDA for its investigational regimen of Glecaprevir/Pibrentasvir for the treatment of all major genotypes of chronic Hepatitis C virus. (Dec)
Receive European Commission’s conditional marketing authorization for VENCLYXTO (venetoclax) monotherapy for the treatment of chronic lymphocytic leukaemia. (Dec)
Receives Orphan Drug Designation for risankizumab from the U.S. FDA for the treatment of paediatric patients with Crohn’s Disease. (Nov)
Receive U.S. FDA Orphan Drug Designation for investigational medicine veliparib for the treatment of advanced squamous non-small cell lung cancer. (Nov)
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