UPDATE 1-AbbVie profit beats forecasts, Humira sales strong
July 26 (Reuters) - U.S. drugmaker AbbVie Inc reported better-than-expected second-quarter results on Friday on strong sales of its Humira arthritis treatment and other medicines.
The company, spun off from Abbott Laboratories Inc early this year, said it earned $1.07 billion, or 66 cents per share. Excluding special items, it earned 82 cents per share, 3 cents above the average estimate of analysts polled by Thomson Reuters I/B/E/S.
Sales totaled $4.69 billion, topping Wall Street expectations of $4.54 billion.
Sales of Humira, the world's biggest-selling prescription drug, climbed 12.1 percent to $2.61 billion, putting it on track to become a $10 billion-a-year product.
Sales of TriCor and Trilipix, drugs used to lower blood fats called triglycerides, plunged 66 percent to $107 million due to competition from cheaper generics.
AbbVie raised the low end of its full-year profit forecast. It now expects earnings, excluding special items, of $3.07 to $3.13 per share. In April it forecast $3.03 to $3.13.
The company said that in the year-ago second quarter, based on sales of the same products it sells now, it earned $1.27 billion, or 80 cents per share. On that basis, sales in the latest quarter were up 4.4 percent from a year earlier.