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AbbVie Expects 9% Tax Rate, Thanks To US Tax Reform Law

 
• By Joseph Haas

The tax reform windfall makes an already strong fourth quarter and full year 2017 financial report more impressive for AbbVie, which reported continuing growth for Humira and Imbruvica, and a big uptick in HCV.

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AbbVie Inc. was going to report solid fourth quarter and full-year 2017 business anyway, but its projection that US tax reform would give it an industry-best effective tax rate of 9% in 2018 astonished market analysts. On top of sales growth led by Humira, Imbruvica and better-than-anticipated hepatitis C performance, AbbVie's quarterly report on Jan. 26 got glowing remarks across the board.

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