Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE

AbbVie 1Q Earnings Top Analyst Estimates

By Pharmaceutical Processing | April 26, 2013

AbbVie Inc. topped Wall Street expectations in its first three months as a standalone company and shares bounced within a penny of a record high Friday.

On Jan. 1 Abbott Laboratories completed the spinoff of AbbVie, which markets the company’s branded prescription drugs, including the blockbuster anti-inflammatory drug Humira.

First-quarter revenue rose 3.7 percent to $4.33 billion, driven by a 16 percent jump in sales of Humira. The injectable medication is used to treat a number of inflammatory diseases, including rheumatoid arthritis, psoriasis and Crohn’s Disease.

The company reported earnings of $968 million, or 60 cents per share, in the first quarter. That compared with $883 million, or 56 cents per share, in the year-earlier period.

Stripping out one-time charges, the company earned 68 cents per share, topping Wall Street expectations by a penny, according to a poll of analysts by FactSet. The company just edged out revenue projections as well.

CEO Richard Gonzalez said the quarter was weighed down by patent expirations on its cholesterol pills TriCor and Trilipex. The drugs are designed to raise “good” HDL cholesterol while reducing triglycerides and “bad” LDL cholesterol.

“The business generated strong sales growth despite loss of exclusivity in our lipid franchise, which speaks to the foundation of AbbVie’s product portfolio,” Gonzalez said in a company release.

Shares of AbbVie rose more than 3 percent, or $1.50, to $45.74. In early trading, shares traded for one cent below the all-time high of $46.32, set on Tuesday.

Related Articles Read More >

Driving success in fast-paced high-tech pharma construction projects
This is a photo of the Fujifilm Diosynth Biotechnologies plant under construction in Holly Springs, North Carolina.
Fujifilm, Regeneron ink $3B U.S. manufacturing agreement
This is the logo of Johnson & Johnson.
J&J breaks ground on $2B manufacturing facility in North Carolina
sherwin-williams-pharma-facility (1)
Sherwin-Williams expands flooring solutions for pharma facilities
“ppw
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news, technologies, and developments in Pharmaceutical Processing.

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Pharmaceutical Processing World
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index
  • R&D 100 Awards

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE