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Financial Report: AbbVie

April 25, 2014

HUMIRA sales drive growth in the quarter

1Q Revenues: $4.6 billion (+5%)

1Q Earnings: $980 million (+1%)

Comments: Growth in the quarter was primarily driven by HUMIRA sales, up 18% to $2.6 billion, as well as key products including Synthroid (up 31% to $157 million), Creon (up 18% to $107 million) and Duodopa (up 32% to $52 million).Synagis sales were $324 million, up 3%. AndroGel sales were $254 million, up 6%. Kaletra sales were down 11% to $195 million. Niaspan and TriCor/Trilipix dropped 75% and 82% to $47 and $23 million, respectively, due to patent expiries. The company recently submitted its U.S. regulatory application for its interferon-free regimen for hepatitis C virus (HCV), and plans additional applications in the EU. The company expects U.S. commercialization in 2014 and European approval in early 2015.
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