AbbVie CEO Emphasizes Humira Growth Plans, Potential Of HCV Program
This article was originally published in The Pink Sheet Daily
AbbVie should appeal to long-term investors due to its sustainable business base and plan to issue and increase dividends over time, says CEO Richard Gonzalez.
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Mylan will buy Abbott’s non-U.S. developed markets specialty and branded generics business in a stock transaction valued at around $5.3 billion, a deal that will allow it to redomicile in the Netherlands.
Since its split from Abbott Laboratories in January, AbbVie has been telling a story of gradually overcoming loss of revenue due to generic-challenged lipid franchise via Humira growth and a promising pipeline. For the first quarter of 2013, Humira generated worldwide sales of $2.244 billion, slightly more than half of the company’s entire revenue base.
Gilead and AbbVie are seen as running neck-and-neck to bring the first all-oral combo of direct-acting antivirals to market in HCV, but Gilead’s regimen is expected to win a larger market share. Idenix is starting over in the nucleoside space, but expects to bring a uridine-based “nuc” into clinical development by mid-year.