News Column

BRIEF: AbbVie earnings get boost for strong Humira sales

July 25, 2014

By Ameet Sachdev, Chicago Tribune



July 25--AbbVie Inc. said second-quarter earnings rose 2.8 percent, driven by strong sales growth of its arthritis drug Humira.

Earlier this month, the North Chicago-based company announced plans to acquire Irish drugmaker Shire PLC in a $53 billion dollar deal. AbbVie's pursued Shire to diversify its drug portfolio and reduce its U.S. tax bill by moving its tax home to Britain, a tactic known as inversion.

AbbVie reported net income of $1.09 billion, or 68 cents a share, compared with $1.06 billion, or 66 cents, in the year-earlier period. The company said its earnings per share excluding special items was 82 cents, above its previous guidance of 75 cents to 77 cents.

The company delivered second-quarter revenue of $4.9 billion, an increase of 5 percent from a year ago.

asachdev@tribune.com

Follow @AmeetSachdev Follow @chibreakingbiz

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(c)2014 the Chicago Tribune

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Source: Chicago Tribune (IL)


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