ABBV: AbbVie Beats Street on Soaring Humira Sales

by Christopher Freeburn | April 25, 2014 9:38 am

On Friday, AbbVie (ABBV[1]) reported higher quarterly earnings and revenues[2]. ABBV stock rose more than 3% in morning trading.

abbvie ABBV[3]ABBV shares moved higher after the pharmaceutical-maker said it earned $980 million during the first quarter, up 1.2% from $968 million in the prior-year period. Adjusted EPS came in at 71 cents, beating guidance issued earlier this year, Reuters noted.

Quarterly sales climbed to $4.56 billion, up 5.4% over the year-ago period, and topping the $4.33 billion that Wall Street was expecting.

AbbVie said that its first quarter results were boosted[4] by a 18% jump in worldwide sales of its rheumatoid arthritis drug, Humira, the Wall Street Journal noted. During the quarter, global Humira sales hit $2.6 billion.

On Thursday, AbbVie stock closed at $49.32 per share.

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