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Takeaways
- AbbVie's first-quarter sales and adjusted earnings per share topped estimates.
- The drugmaker increased its full-year EPS adjusted forecast by 10cents.
- The company has noted that tariffs that President Trump plans to impose on the industry could have a negative impact on its business.
AbbVie reported its first-quarter earnings on Friday, which were higher than analysts’ estimates. The company also raised its profit guidance for the full year.
The drugmaker reported adjusted earnings per share of $2.46, on revenue that increased 8% over the previous year to $13.34 Billion. Visible Alpha surveyed analysts, who predicted $2.40 and $13.24 billion.
Skyrizi, Rinvoq and Humira sales grew by more than 70%, 57% and 50%, respectively. Humira sales fell by half. The three immunology drugs made up nearly half of AbbVie's Q1 revenue at a combined $6.26 billion.
AbbVie Raises Full-Year Profit Outlook
AbbVie lifted its full-year adjusted EPS profit forecast to a range of $12.09 to $12.29 from the prior $11.99 to $12.19. The company said its current outlook is "based on the existing trade environment and does not reflect any trade policy shifts, including pharmaceutical sector tariffs, that could impact AbbVie's business."
President Trump announced that he intends to impose tariffs against the drug industry. This industry was exempted from a first round of tariffs announced in early this month.
AbbVie’s shares, which had opened the day this year 1.5% higher, were up almost 3% by early Friday afternoon.
