On its second-quarter earnings conference call, AbbVie (ABBV) raised its 2018 EPS guidance by $0.10. The company now expects its EPS to fall in the range of $7.76–$7.86. Considering the midpoint of this range, ABBV’s guidance is 39.5% higher YoY (year-over-year).
AbbVie expects robust growth trends for its business in the second half of 2018 despite the expected entry of direct biosimilar competition for Humira in certain ex-US markets in the fourth quarter.
Analysts expect AbbVie to report adjusted diluted EPS of close to $7.9 in 2018, a YoY rise of ~40.5%. Peers Amgen (AMGN), Biogen (BIIB), and Celgene (CELG) are expected to report adjusted diluted EPS of close to $14.0, $25.3, and $8.8, respectively.
Humira’s growth trends
In the second quarter, Humira reported sales of close to $5.2 billion, a YoY rise of 10% on a reported basis and a rise of 8.2% on a constant currency basis. The drug reported 10% YoY operational revenue growth in the US market driven by a robust rise in total prescription volumes and price improvements. Humira also reported sales of nearly $1.6 billion from international markets—a YoY operational rise of 4.4%—in the second quarter.
AbbVie expects Humira to witness sales of close to $6.4 billion from ex-US markets in 2018. The company expects YoY sales growth for Humira to be close to 11% in the third quarter. Assuming constant currency exchange rates, it also expects Humira to report revenue of close to $1.6 billion from international markets in the quarter.
Imbruvica’s growth trends
In the second quarter, Imbruvica reported sales of nearly $850 million, a YoY rise of 35.6%. In addition to being a leading player in the chronic lymphocytic leukemia space, Imbruvica is also witnessing a rapid uptake in other approved indications, such as graft-versus-host disease and marginal zone lymphoma.
In the next article, we’ll study the new developments in AbbVie’s oncology portfolio in greater detail.