--> -4.21% pre open
AbbVie beats by $0.01, reports revs in-line; reaffirms FY16 EPS guidance
- Reports Q4 (Dec) adj. earnings of $1.13 per share, $0.01 better than the Capital IQ Consensus of $1.12; GAAP rev rose 17.4% year/year to $6.4 bln vs the $6.38 bln Capital IQ Consensus. On an operational basis, adjusted net revenues increased 24.4%, excluding a 6.0% unfavorable impact from foreign exchange rate fluctuations. Global HUMIRA sales increased 16.0% on an operational basis, excluding the impact of foreign exchange.
- Exceptional U.S. HUMIRA growth of 20.7% was driven by continued momentum across all three major market categories - rheumatology, dermatology and gastroenterology. International HUMIRA sales growth was also strong in the fourth quarter, up 9.7% on an operational basis. Reported international HUMIRA sales growth in the quarter was reduced by 13.1% due to FX; total Humira sales +18% to $3.7 bln.
- Q4 global IMBRUVICA net revenue was $343 million, with U.S. sales of $295 million and international profit sharing of $48 million for the quarter.
- Total co rev growth was also driven by $554 million in global VIEKIRA sales in the quarter, as well as strong operational growth from Duodopa, Creon and Lupron.
- Co reaffirms guidance for FY16, sees EPS of $4.90-5.10, excluding non-recurring items, vs. $5.03 Capital IQ Consensus Estimate.