AbbVie, a biopharmaceutical company formed in 2013 following separation from Abbott Laboratories, has posted net loss of $810 million during the fourth quarter ended December 2014 as against net profit of $1,128 million in the similar quarter of last year. Its net sales improved by 6.7 per cent to $5,452 million from $5,111 million due to the continued strength of Humira, Synagis, Creon and Duodopa. Global Humira sales increased by 10.6 per cent to $3,363 million. With net loss its EPS worked out to negative $0.51 as compared to positive $0.70 in the last period.
Riichard A Gonzales, chairman and CEO, said, “AbbVie delivered exceptional performance in 2014 with sales and earnings well above our original projections for the year. We returned to growth in 2014, a year ahead of schedule, and we expect to continue building on that momentum in 2015 with another year of strong performance. For 2015, we're focused on commercial and operational execution and the advancement or our promising pipeline as we build the company for long-term sustainable growth.”
For the full year 2014, AbbView's net sales increased by 6.2 per cent to $19,960 million from $18,790 million in the previous year. Its net earnings, however, declined sharply 57 per cent to $1,774 million from $4,128 million. EPS nosedived to $1.10 from $2.56 in the last period. R&D expenditure increased to $3,297 million from $2,855 million, a growth of 15.5 per cent. Sales of Humira increased by 17.7 per cent to $12,543 million. However, the sales of AndroGel declined by 9.7 per cent to $934 million. Kaletra sales declined by 9.6 per cent to $870 million and that of Lupron went down by marginally by 0.9 per cent to $778 million.
On January 16, the company has received the European Commission marketing authorizatins for its all oral, short-course, interferon-free treatment of Viekirax plus Exviera. Further US FDA approved Duopa (carbidopa and levodopa) enteral suspension for the treatment of motor fluctuations for people with advanced Parkinson's disease. The company confirmed its adjusted diluted earnings per share guidance for the full year 2015 of $4.25 to $4.45.