AbbVie announces Q2 revenue growth, Humira developments

AbbVie announced its worldwide sales were $5.475 billion in the second quarter of 2015, an 11.1% increase from the previous year, according to a press release

Among second quarter highlights was the FDA granting orphan drug status to Humira (adalimumab) for the investigational treatment of moderate-to-severe hidradenitis suppurativa, a chronic, inflammatory skin disease, the release stated. The agency is currently reviewing AbbVie’s supplemental biologic license application.

The same indication for adalimumab also received a positive opinion from the European Committee for Medicinal Products for Human Use of the European Medicines Agency, the release stated.

The continued strength of adalimumab and other promoted products drove second-quarter sales growth, the release stated. Global adalimumab sales increased by 16.4% on an operational basis. Double-digit growth across the dermatology, rheumatology and gastroenterology categories resulted in continued strong adalimumab growth in the United States, the release stated.

AbbVie’s sales increased 19.4% on an operational basis, excluding an 8.3% unfavorable impact from foreign exchange rate fluctuations, the release stated.

Second-quarter adjusted earnings per share were $1.08, an increase of 31.7% and exceeding previous guidance range of $1.04 to $1.06, the release stated.

“We are pleased with the high level of performance we delivered in the first half of 2015,” Richard A. Gonzalez, chairman and CEO of AbbVie, said in the press release. “With the completion of the Pharmacyclics transaction, continued momentum from our on-market products and rapid evolution of our robust development pipeline, we are well positioned to deliver strong performance in the future.”

Reference: www.abbvie.com