HCV Sales Drive AbbVie's Great Quarter, But Gains Won't Last

Q1 earnings far outpaced expectations due to the successful launch for new hepatitis C drug Mavyret, but with the HCV market overall in decline those gains won't last and won't make up for the looming loss of Humira revenue.

Businessman draws a statistical trend line

AbbVie Inc.'s newest treatment for hepatitis C was a big contributor to the company's expectation-busting first quarter earnings, but even with up to $3.5bn in annual sales Mavyret won't fill the revenue hole caused by the launch of biosimilars for the mega-blockbuster Humira.

In the near term, AbbVie's strong first quarter results and its plan to buy back $7.5bn worth of its stock boosted the company's stock price on April 26 by 6.1% to close at $97

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