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AbbVie HCV Revenue Surprises Again, But Falloff Is Coming

 
• By Joseph Haas

Led by eight-week, pan-genotypic combo Mavyret, AbbVie’s HCV franchise grows despite a declining US market that has taken a toll on competitors Gilead and Merck. Still, AbbVie expects a falloff in the third quarter.

Business Balance - A businessman carrying paperwork walking over a tight rope.

As AbbVie Inc. continues to report Humira growth and investors continue to worry about biosimilar competition, the Chicago-area pharma offered a surprise when it presented its second quarter earnings: a better-than-expected performance for the hepatitis C franchise, bringing it on par with rival Gilead Sciences Inc..

Overviewing its second quarter financials July 27, AbbVie reported that its HCV franchise, led by Mavyret (glecaprevir/pibrentasvir), yielded global sales of $973m, up more than 100% from second-quarter 2017. During the first quarter, the franchise brought in $919m, 61% higher than consensus estimates of $572m, but the company talked down HCV’s longer-term prospects

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