FILE PHOTO: A screen displays the share price for drugmaker AbbVie on the floor of the New York Stock Exchange July 18, 2014. REUTERS/Brendan McDermid/File Photo
The profit forecast excludes any impact from the pending $63 billion Allergan deal, which is expected to close in the current quarter. AbbVie forecast that the two drugs will bring in combined revenue of about $1.70 billion in 2020, still less than 9% of expected Humira sales, as it maintains its position as the world’s top-selling prescription medicine.AbbVie is hoping to maintain its leadership position in the $70 billion global immunology market dominated by Humira, which treats both rheumatoid arthritis and psoriasis, as well as several related autoimmune conditions.
AbbVie is also counting on the addition of wrinkle treatment Botox from Allergan, and other products in development to cushion the expected revenue drop after Humira loses U.S. patent protection.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »