Dallas, Texas 09/04/2014 (FINANCIALSTRENDS) – AbbVie Inc. (NYSE:ABBV) the makers of the top-end rheumatoid Arthritis drug Humira, has in the past few quarters been driving the financial results.
The spread of Humira as a line of treatment overseas has not only expanded the market segment but created an upside driving higher sales.
AbbVie which separated from Abbott Laboratories in early 2013 is today considered the eighth-largest drug manufacturer at the browsers. The largest pharmas in the world rank ahead with Astra Zeneca, GlaxoSmithKline and Pfizer pushing ahead on their long-tailed drug stockpile.
AbbVie in its latest financial results filed for the second quarter, posted an astounding 67% sale figure for its flagship product Humira.
Though, most popular for the treatment of Rheumatoid arthritis, the drug has proved to be a success with treatment of ulcerative Colitis, Psoriatic Arthritis and different other disease forms, allowing AbbVie Inc.(NYSE:ABBV) a good chance at doubling its sales figures.
With the exception of Duodopa, no other product of this $89 billion market cap company has been able to wield such market success.
In the quarterly report, the sales figures for Duodopa were just 1% of the entire sales which AbbVie made in the past quarter.
And the success of Humira is the current cause of concern.
As Humira’s patent position by AbbVie Inc.(NYSE:ABBV) is all set to expire by 2016, the road ahead for AbbVie is definitely spotted with challenges.
Humira sales are likely to take a hit by 2017, as cheaper, generic drugs will deluge the market. Therefore, AbbVie will have to look at diversifying its portfolio to bolster such sales retardation down the years! It does have the New Hepatitis C treatment to speak of in the near future, but will it prove to be another Humira, in terms of sales will be a question, for which, many investors are going to seek answers!
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