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Mavyret Is Expected to Boost AbbVie’s Hepatitis C Revenue in 2018

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HCV segment’s 2017 performance

In 4Q17, AbbVie (ABBV) reported hepatitis C (or HCV) sales of $510 million, a YoY (year-over-year) rise of ~62.7% on an operational basis and of 63.4% on a reported basis. The company reported HCV drug sales of $214 million in the US market, a YoY rise of more than 100%.

In 4Q17, international markets contributed ~$296 million to AbbVie’s HCV revenue, a YoY rise of ~14.5% on an operational basis and of 15.4% on a reported basis.

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In 2017, AbbVie reported HCV sales of $1.3 billion, a YoY fall of ~16.2% on an operational basis and of 20.6% on a reported basis. The company reported HCV drug sales of $338 million in the US market, a YoY fall of ~1.4%. In 4Q17, international markets contributed ~$936 million to AbbVie’s HCV revenue, a YoY fall of ~20.5% on an operational basis and of 20.6% on a reported basis.

The above diagram shows the contribution of non-Humira assets, including Mavyret, to AbbVie’s revenue growth trajectory until 2025.

Mavyret’s growth trends

Owing to higher-than-expected demand, the recently launched HCV drug Mavyret contributed ~$500 million in revenue to AbbVie’s 2017 HCV sales. The drug has already attained a dominant position in most of its markets. By the end of 2017, Mavyret had acquired a market share of close to 32% in the United States. With parity access to almost 65% of covered lives in the United States, AbbVie has also managed to strengthen the drug’s payer dynamics. Mavyret is thus playing a pivotal role in enabling AbbVie to compete effectively with other HCV players such as Gilead Sciences (GILD), Bristol-Myers Squibb (BMY), and Roche Holdings (RHHBY).

To learn more about Mavyret’s growth trends, read Mavyret May Prove a Strong Growth Driver for AbbVie Going Forward.

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