The fourth quarter was a continuation of the strong performance and business momentum AbbVie has delivered since becoming an independent company in 2013, said its chief executive office (CEO), Richard A. Gonzalez.
AbbVie posted net earnings for fourth quarter 2016 of $1,391 million, compared to $1,517 million in the same period 2015. Full year earnings were $5,953 million, up from $5,144 million in 2015. Net revenues for the quarter were $6,796M, which is up from 2015’s fourth qarter’s $6,400M.
“Our 2016 revenue and EPS growth rank us among the leaders in our industry,” said Gonzalez.
“We continue to make significant progress on our objectives across each aspect of our company strategy, with strong commercial execution, financial discipline and a focus on our advancing pipeline to drive long-term sustainable growth. Our guidance for 2017 reflects continued strong performance and confidence in our business fundamentals,” the CEO added.
Fourth-Quarter Results
Worldwide GAAP net revenues were $6.796 billion in the fourth quarter, 6.2% up 6.2 percent.
Global sales of Humira increased about 15.5%. In the U.S., Humira sales grew 23.5% in the quarter, and 4.1% internationally. The company noted its all three major market categories rheumatology, dermatology and gastroenterology pushed the sales up.
Imbruvica net revenue for the fourth quarter was $511 million globally, with U.S. sales being $434 million, and international profit sharing of $77 million for the quarter.
Outlook for 2017
AbbVie said it expects to deliver adjusted diluted EPS guidance for the full-year 2017 of $5.44 to $5.54, representing growth of 13.9 percent at the mid-point. The company’s 2017 adjusted diluted EPS guidance excludes $0.89 per share of intangible asset amortization expense and other specified items.