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AbbVie Presents Optimistic Take For 2020, Expects Quick Recovery For Botox Aesthetic

 
• By Joseph Haas

AbbVie made only a slight adjustment to its earnings-per-share guidance despite expected Q2 downturn due to the pandemic. It sees Allergan’s aesthetic business as bouncing back quickly.

Stone / United Kingdom - February 12 2020: Abbvie biopharmaceutical company logo seen on the brochure with the viral masks, syringe and pills. Concept photo. Selective focus.
AbbVie says its merger with Allergan likely will close in May

AbbVie Inc. gave a mostly optimistic presentation during its first quarter earnings call on 1 May despite the tumultuous business conditions caused by the COVID-19 pandemic – the Chicago area firm even increased sales guidance for Skyrizi as that drug’s strong launch continues. CEO Rick Gonzalez also provided a detailed explanation of why AbbVie thinks Allergan PLC’s aesthetic business, led by Botox, will recover quickly from pandemic-related effects.

AbbVie’s revenues grew by 10.7% operationally (factoring in foreign exchange) during the first quarter to nearly $8.62bn, with little negative impact resulting from the pandemic. There was an estimated $190m...

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