Guidance for the second quarter
In its first-quarter earnings conference call, AbbVie (ABBV) has guided for adjusted revenues of more than $8.1 billion and an unfavorable foreign exchange impact of 1.5% on reported sales growth at current exchange rates in the second quarter. The company expects its adjusted EPS to fall in the range of $2.20 to $2.22, which includes the impact of non-cash amortization and other items of $0.30. The company, however, has excluded the impact of non-contingent consideration related to regulatory approval of SKYRIZI from this EPS guidance.
In its first-quarter earnings conference call, AbbVie has guided for an adjusted operating margin ratio similar to that reported in the first quarter, which is close to 48.1%. The company, however, expects expenses to rise in the second half of fiscal 2019, mainly to support new product launches. The company has also guided for a second-quarter effective tax rate in line with the fiscal 2019 guidance.
In its first-quarter earnings conference call, AbbVie has guided for a YoY rise of 7% in Humira’s US sales in the second quarter. The drug is also expected to earn $1.0 billion from international markets at current exchange rates. The company has also guided for Imbruvica sales to come in close to $1.1 billion in the second quarter.
In the first quarter, the Imbruvica-GAZYVA combination regimen secured FDA approval in the front-line chronic lymphocytic leukemia indication, based on the Phase 3 iLLUMINATE study. According to its first-quarter earnings conference call, this approval marks the tenth approved indication for Imbruvica.
AbbVie expects to secure regulatory approvals and launch upadacitinib in the rheumatoid arthritis indication in fiscal 2019. In the clinical trials, Upadacitinib has demonstrated superior efficacy across multiple patient types. The drug also demonstrated superiority over Humira in two phase-three trials.