On a per-share basis, the San Ramon, California-based company said it had net income of $1.09.
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Overall, AbbVie earned $1.24 billion in the quarter, up from $506 million a year ago. Analysts, on average, have forecast 2016 earnings of $4.95 per share, according to Thomson Reuters I/B/E/S. In the third quarter, Imbruvica sales were $304 million; analysts had expected $272 million.
AbbVie said Humira sales climbed 12 percent to $3.65 billion and would have climbed 19 percent without a hit from currency rates.
Looking ahead, AbbVie forecast full-year 2016 adjusted earnings of $4.90 to $5.10 per share. Humira faces more competition as copycat versions of rival drug Remicade, known as biosimilars, become available in Europe.
Humira is approved to treat more than a dozen conditions including rheumatoid arthritis, psoriasis and Crohn’s Disease.
AbbVie Inc. on Friday boosted its outlook for the year as profit and revenue soared above Wall Street expectations in its third quarter. It also laid out a long-term plan with financial goals through 2020. But the drug stumbled a bit outside the USA with sales of $1.3 billion, missing the Street’s prediction of $1.4 billion-a “surprising” development given that most industry watchers thought that a “miss was unlikely”, Evercore ISI analyst Mark Schoenebaum said in a note to investors. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.13 per share. Revenue grew 18.4% to $5.94 billion.
AbbVie said earnings before one-time items will reach $4.26 to $4.28 a share.
Meanwhile, the Pharmacyclics acquisition has diversified AbbVie’s product portfolio with the addition of Imbruvica. The drug maker now sees total sales of about $37 billion in 2020, which represents roughly 10% of sales growth, on average, over the five-year period.
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The company added that it is on track to launch more than 20 new products or indications through 2020. The stock had fallen 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 1.5 percent.
