Rick Gonzalez, AbbVie CEO (Pablo Martinez Monsivais/AP Images)

Ab­b­Vie talks next steps as first Hu­mi­ra com­peti­tor makes it to mar­ket

In Ab­b­Vie’s first earn­ings call since Hu­mi­ra’s first biosim­i­lar came to mar­ket ear­li­er this year, CEO Rick Gon­za­lez tout­ed just over $58 bil­lion in rev­enue for the Big Phar­ma in 2022 — and laid out guid­ance for how the com­pa­ny will fare over the next two years, de­spite the loss of its Hu­mi­ra mo­nop­oly.

Af­ter tout­ing Ab­b­Vie’s more than dou­bling of its R&D bud­get, the CEO said the com­pa­ny is “well po­si­tioned to ab­sorb the im­pact from the Hu­mi­ra LOE and quick­ly re­turn to ro­bust sales growth in 2025.” The com­pa­ny al­so said it is ex­pect­ing to see Hu­mi­ra sales drop by 37% in 2023.

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Senior Associate

Alexandria Real Estate Equities

Durham, NC, USA