AbbVie Reports First Outlook as an Independent Company (ABBV)
Pharmaceutical product manufacturer, AbbVie Inc (ABBV) reported their first earnings outlook on Wedneday after their separation from Abbott.
Following the release of their arthritis medication, Humira ABBV has released their first outlook since the separation from Abbott Laboratories(ABT).
For FY2013, ABBV is expecting to see earnings in the range of $3.03 to $3.13 per share. Analysts expect to see EPS of $3.08.
The company reported that sales of Humira, which is one of the worlds best selling drugs, increased 23% in the fourth quarter to $2.68 billion.
Additionally, the company saw sales from testosterone-boosting drug, AndroGel rise by 41% after increasing advertisements on television.
AbbVie shares were down 35 cents, or -0.94% during Wednesday morning trading. The stock has increased 6% in the past year.
The Bottom Line
Shares of AbbVie Inc(AABV) have a yield of 4.30%, based on Tuesday’s closing price of $37.18.
AbbVie Inc(ABBV) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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