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

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...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Earnings

Loss Of Exclusivity Product Launches To Fuel Aurobindo’s FY26 Europe Growth

 
• By 

Aurobindo is banking on launches of loss of exclusivity products and biosimilars to fuel sales in Europe as it awaits a US announcement on tariffs and predicts high single-digit growth overall during FY26 for now

Korea Q1 Roundup: Mixed Earnings, Gearing For Possible US Tariffs

 
• By 

South Korean biopharma companies report a mostly solid first quarter, marked by US growth for original drugs, with several also making preparations for possible US pharma tariffs.

Sun On Leqselvi US Launch Ahead, MFN Pricing And Pipeline Changes

 

Sun readies US debut of Leqselvi for alopecia areata, while PD-L1 inhibitor Unloxcyt is in the line up once the Checkpoint Therapeutics deal is completed. Management also discusses limited clarity on President Trump’s most favored nation pricing push, pipeline tweaks and M&A outlook.

Stock Watch: Q1 Sales Trends And Forex Muddle Pharma Outlook

 
• By 

Pharma firms tended to downplay first-quarter trends in full-year guidance. However, raised guidance seems fragile amid ongoing foreign exchange effects and Medicare Part D redesign pressures.

More from Business

Loss Of Exclusivity Product Launches To Fuel Aurobindo’s FY26 Europe Growth

 
• By 

Aurobindo is banking on launches of loss of exclusivity products and biosimilars to fuel sales in Europe as it awaits a US announcement on tariffs and predicts high single-digit growth overall during FY26 for now

Korea Q1 Roundup: Mixed Earnings, Gearing For Possible US Tariffs

 
• By 

South Korean biopharma companies report a mostly solid first quarter, marked by US growth for original drugs, with several also making preparations for possible US pharma tariffs.

In Brief: Nicox Extends Cash Runway As Kowa Advances NCX 470 In Japan

 

Eye drug is already in Phase III trials elsewhere, with results due in Q3. Nicox could earn up to a further €24.5m in milestones and royalties from Kowa alliance.