Go Symbol Lookup
Loading...

UPDATE 1-AbbVie issues 2013 forecast in line with Street estimates

  Text Size    
Published: Wednesday, 30 Jan 2013 | 7:58 AM ET

Jan 30 (Reuters) - AbbVie, the pharmaceuticals business spun off earlier this month by Abbott Laboratories , forecast 2013 earnings in line with Wall Street forecasts.

The new company, whose biggest product by far is the rheumatoid arthritis drug Humira, on Wednesday said it expects earnings this year of $3.03 to $3.13 per share, excluding special items. Analysts, on average expected $3.08 per share, according to Thomson Reuters I/B/E/S.

AbbVie said it expects net earnings this year of $2.66 to $2.76 per share.

Abbott last week said global sales of branded drugs that now belong to AbbVie rose 7.4 percent to $5.14 billion.

That topped estimates of some industry analysts, including Wells Fargo's Larry Biegelsen, who had expected $4.8 billion. The rise would have been 8.5 percent if not for the stronger dollar, which lowers the value of sales in overseas markets.

 Print
Jan 30- AbbVie, the pharmaceuticals business spun off earlier this month by Abbott Laboratories, forecast 2013 earnings in line with Wall Street forecasts. AbbVie said it expects net earnings this year of $2.66 to $2.76 per share. Abbott last week said global sales of branded drugs that now belong to AbbVie rose 7.4 percent to $5.14 billion.
  Price   Change %Change
ABT ---
WFC ---

   
Comments

 

More Comments

 
 

Add Comments

 

Your Comments (Up to 1100 characters):

Remaining characters

Your comments have not been posted yet.

Please review your submission to make sure you are comfortable with your entry.

Your Comments: