bullish
AbbVie (ABBV US): Q3 Sales Miss as Humira OUS Declines; 2022 Guidance Narrowed; Dividend Raised
215 Views29 Oct 2022 23:20
SUMMARY
- Abbvie Inc (ABBV US) reported Q3 revenue of $14.8 billion, an increase of 5% y/y operationally, mainly driven by a 16% y/y operational growth in immunology portfolio.
- While Humira revenue increased 7% y/y in the U.S. to $5 billion, internationally Humira revenue declined 26% y/y to $603 million due to biosimilar competition.
- While management reiterated mid-point of 2022 adjusted EPS guidance range, they have narrowed the range to $13.84–13.88 from $13.76–13.96. 2022 revenue guidance has been slightly lowered to $58.2 billion.
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Tina Banerjee
Global Healthcare Analyst
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