AbbVie Profit Tops Analyst Estimates on Humira Sales
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AbbVie Inc., the drugmaker buying Shire Plc to lower its tax rate, reported profit that beat analysts’ estimates on strong sales of the arthritis drug Humira.
Second-quarter net income rose 2.8 percent to $1.1 billion, or 68 cents a share, from $1.07 billion, or 66 cents, a year earlier, the company said in a statement today. Excluding one-time items, earnings were 82 cents a share, beating by 6 cents the average of 7 analysts’ estimates compiled by Bloomberg. Revenue gained 5 percent to $4.9 billion.