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AbbVie’s net revenues rise 33.9% in second quarter of 2021

AbbVie’s net revenues rise 33.9% in Q2 2021
In the US region, AbbVie’s immunology asset, Humira, generated net revenues of $4.26bn in the Q2 of this year. Credit: AbbVie Inc.

AbbVie has reported global net revenues of nearly $14bn for the second quarter (Q2) of 2021, reflecting a 33.9% surge on a reported basis compared to $10.42bn in the same period last year.

Net revenue grew 19.3% on a comparable operational basis in Q2 2021.

For the quarter ended 30 June 2021, the GAAP diluted earnings per share (EPS) slightly declined to $0.42 from $0.46 in Q2 last year.

Adjusted diluted EPS, excluding specified items, rose to $3.11 in the second quarter of 2021, as against $2.34 in the prior-year quarter.

Global net revenues from the immunology portfolio for the Q2 of this year totalled $6.12bn, witnessing a growth of 15.1% on a reported basis and 13.8% on a comparable operational basis.

In the US region, Humira (adalimumab) generated net revenues of $4.26bn, a 7.1% increase on a reported basis in Q2 2021.

Furthermore, Humira’s international net revenues decreased 6% on a reported basis to $811m, owing to biosimilar competition.

During the quarter, the hematologic oncology and neuroscience portfolios generated $1.81bn and $1.5bn in global net revenues, up 14.1% and 98.8%, respectively, on a reported basis.

Aesthetics portfolio’s global net revenues grew more than 100% on a reported basis to $1.43bn.

The company added that overall net revenues of eye care and women’s health businesses increased by more than 100% and 29.9%, respectively, while other major products saw a 19.9% rise on a reported basis.

AbbVie chairman and CEO Richard Gonzalez said: “AbbVie delivered another strong quarter and our business continues to perform extremely well across the portfolio, with AbbVie’s new immunology assets contributing more than $1bn of combined sales in the quarter.

“The Allergan integration also continues to track exceptionally well, with both the neuroscience and aesthetics portfolios delivering double-digit sequential growth.”

AbbVie has updated its GAAP diluted EPS guidance for the full year 2021 from $7.27 to $7.47 to $6.04 to $6.14.

Furthermore, the adjusted diluted EPS for the full-year 2021 was increased to $12.52 t o$12.62 from $12.37 to $12.57.

Last month, the company expanded its partnership with Calico Life Sciences to discover, develop and commercialise novel treatments for age-related diseases such as neurodegeneration and cancer.

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