Full-year 2021 sales of AbbVie’s Humira were $20.7 billion.
Courtesy of AbbVie
AbbVie
posted fourth-quarter earnings that were roughly in line with Wall Street expectations, and its 2022 earnings guidance surpassed analyst projections.
AbbVie (ticker: ABBV) reported adjusted diluted earnings of $3.31 a share for the fourth quarter of 2021, up 13.4% from the same quarter in 2020, and slightly above the FactSet analyst consensus estimate of $3.28 per share.
The company reported net revenue of $14.9 billion, just short of the FactSet analyst consensus estimate of $15 billion. Revenue was up 7.4% from the same quarter in 2020.
AbbVie also issued guidance for 2022, saying it expects adjusted diluted earnings between $14 and $14.20 per share. That is above the current FactSet analyst consensus estimate of $13.99 per share.
AbbVie shares edged up 0.9% in premarket trading. The stock has risen 1.2% so far this year, outperforming the S&P 500, which is down 4.6%.
“We are entering 2022 with significant momentum and expect our diverse set of growth assets, robust pipeline and excellent execution to deliver continued strong performance this year and over the long term,” said AbbVie CEO Richard Gonzalez in a statement. The company has scheduled an investor call for 9 a.m. ET.
In the fourth quarter, AbbVie reported $5.3 billion in global revenues for its blockbuster Humira, slightly below the FactSet analyst consensus estimate of $5.4 billion. Total sales of Humira through all of 2021 were $20.7 billion, likely making it the bestselling pharmaceutical in the world, not including the Covid-19 vaccines. Humira, which treats a number of inflammatory conditions, is likely to begin facing biosimilar competition in the U.S. in early 2023, which is expected to quickly erode the drug’s market share.
In a note out late last month, Bernstein analyst Ronny Gal wrote that he expects Humira to lose 30% of its market share in the U.S. to new biosimilars by the end of 2023.
AbbVie reported fourth-quarter global sales of $895 million for Skyrizi, which treats a number of immune-mediated inflammatory diseases. Global sales of Rinvoq, another immunology drug from AbbVie, were $517 million.
AbbVie’s aesthetics business, which includes Botox and other assets the company acquired when it purchased Allergan in 2020, were $1.4 billion, up 23.3% from the same quarter in 2020 on a reported basis.
Write to Josh Nathan-Kazis at [email protected]
