Drugmaker AbbVie's quarterly revenue misses estimates

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[January 27, 2017]  (Reuters) - AbbVie Inc's  quarterly adjusted revenue missed analysts' estimate, in part due to lower-than-expected sales of its hepatitis C drug and cancer treatment.

 

The company reported adjusted revenue of $6.78 billion in the fourth quarter ended Dec. 31, below analysts' average estimate of $6.91 billion, according to Thomson Reuters I/B/E/S/.

Sales of its cancer drug Imbruvica, which is also marketed by Johnson & Johnson, and its hepatitis C treatment Vikiera Pak fell short of consensus estimates, according to Evercore ISI.

Sales of Humira, the company's arthritis treatment, rose 15.5 percent to $4.29 billion in the latest quarter, just ahead of the consensus estimate of $4.26 billion, according to Evercore ISI.

Humira, the world's biggest-selling drug, is also used to treat Crohn's disease and psoriasis.

The company said on Friday net profit fell to $1.39 billion, or 85 cents per share, in the fourth quarter ended Dec. 31, from $1.52 billion, or 92 cents per share, a year earlier.

Excluding special items, the suburban Chicago drugmaker earned $1.20 per share, in line with the average analyst estimate.

Net revenue rose to $6.80 billion from $6.40 billion.

AbbVie said it expected 2017 adjusted earnings of $5.44 to $5.54 per share, compared with analysts' estimate of $5.47.

(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Sriraj Kalluvila)

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