AbbVie sees 37% drop in Humira sales this year as biosimilars hit U.S. market

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AbbVie sees 37% drop in Humira sales this year as biosimilars hit U.S. market
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AbbVie Inc said on Thursday it expects sales of its flagship rheumatoid arthritis drug Humira to decline 37% this year due to competition from cheaper biosimilars in the United States, but sees that stabilizing by the end of 2024.

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Amjevita, the first biosimilar competition for Humira in the United States. At least seven others are expected to debut this summer.

Overall, Humira sales rose 4.6% to $5.58 billion, in line with estimates, lifted by growth in the U.S. market. Skyrizi sales of $1.58 billion beat analysts' estimates of $1.52 billion, while Rinvoq missed with $770 million in sales compared with expectations of $816.14 million.

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