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AbbVie
reported third-quarter adjusted earnings that topped analysts’ forecasts and the biopharmaceutical firm boosted its revenue forecast for the total yr.
AbbVie
(ticker: ABBV) additionally raised its quarterly dividend to $1.41 a share from $1.30.
The inventory was rising 2.3% on Friday to $112.14. It has risen 4.7% in 2021.
Adjusted earnings within the quarter have been $3.33 a share, topping forecasts of $3.21. Income of $14.34 billion edged out estimates of $14.3 billion.
Gross sales of Humira, the corporate’s Crohn’s illness drug, rose 5% yr over yr to $5.43 billion.
Analysts anticipated AbbVie to earn $3.21 a share on income of $14.3 billion within the third quarter. A yr earlier, the corporate posted revenue of $2.83 a share on income of $12.9 billion.
AbbVie mentioned it expects adjusted full-year revenue of $12.63 to $12.67 a share, larger than its earlier projections of $12.52 to $12.62.
The corporate additionally mentioned Friday that Vraylar, an adjunctive remedy for main depressive dysfunction, met its main endpoint in a Section 3 research. The corporate mentioned it intends to submit a supplemental New Drug Software with the Meals and Drug Administration for the expanded use of Vraylar for remedy of the dysfunction.
Analysts at Mizuho Securities reiterated their Purchase score on the inventory and value goal of $131, saying they’re “inspired by the corporate’s continued sturdy efficiency and outlook.”
Write to Joe Woelfel at joseph.woelfel@barrons.com
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