As AbbVie celebrates better-than-expected earnings, CEO Rick Gonzalez forcefully defends pipeline
AbbVie largely beat expectations in its second-quarter earnings update, and execs were quick to beat their chests at better-than-anticipated sales figures across its portfolio.
Wall Street took the update as a positive, with AbbVie shares $ABBV rising nearly 6% Thursday morning.
But while the results provide a buffer against biosimilar competition to Humira, long projected to eat away at significant chunks of AbbVie’s revenue, questions remain over how long such a cushion will last. Analysts were quick to pepper AbbVie leadership with questions about when the Humira drop-off might occur, when that drop-off would stabilize and about upcoming pipeline and M&A prospects.
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