AbbVie manufacturing facility
Courtesy of AbbVie
reported third-quarter adjusted earnings that topped analysts’ forecasts and the biopharmaceutical company boosted its profit forecast for the full year.
(ticker: ABBV) also raised its quarterly dividend to $1.41 a share from $1.30.
The stock was rising 2.7% in premarket trading Friday to $112.66. It has risen 2.4% in 2021.
Adjusted earnings in the quarter were $3.33 a share, topping forecasts of $3.21. Revenue of $14.34 billion edged out estimates of $14.3 billion.
Sales of Humira, the company’s Crohn’s disease drug, rose 5% year over year to $5.43 billion.
Analysts expected AbbVie to earn $3.21 a share on revenue of $14.3 billion in the third quarter. A year earlier, the company posted profit of $2.83 a share on revenue of $12.9 billion.
AbbVie said it expects adjusted full-year profit of $12.63 to $12.67 a share, higher than its previous projections of $12.52 to $12.62.
The company also said Friday that Vraylar, an adjunctive treatment for major depressive disorder, met its primary endpoint in a Phase 3 study. The company said it intends to submit a supplemental New Drug Application with the Food and Drug Administration for the expanded use of Vraylar for treatment of the disorder.
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