AbbVie posted higher-than-expected quarterly profit and revenue, driven by demand for its flagship drug Humira, and raised its earnings forecast for the year.
Humira — the world's biggest-selling drug — generated about $14 billion in sales last year and accounted for about 64 percent of AbbVie's net revenue in the quarter.
The drug, used to treat forms of arthritis and Crohn's disease among other conditions, generated sales of $4.15 billion in the quarter, topping the consensus estimate of $3.93 billion, compiled by Evercore ISI.
Humira's main patent lapses in December, opening the drug up to potential competition from cheaper biosimilars being developed by companies including Amgen, Coherus Biosciences and Germany's Boehringer Ingelheim.
Amgen, as the first to seek U.S. approval, could end up first to market, after an advisory panel to the U.S. Food and Drug Administration backed its copycat version earlier this month.
AbbVie, however, has said numerous other patents will stave off the introduction of biosimilar forms of Humira until at least 2022.