Skyrizi and Rinvoq Can Help AbbVie Beat Consensus
Author: Stock Analyst Date: 2021/04/29
One of the leaders in the US pharmaceutical industry, Abbvie, will release its 1Q08 financials on Friday, April 30. The Reuters consensus on the company's refined EPS for the past quarter is $ 2.83 (+ 16.9% YoY). US sales of the blockbuster Humira are likely to continue upward during Q1 amid strong demand for the drug.
However, strong competition in international markets, especially in Europe, could partially offset the growth in US sales. As part of the sales of its flagship drug, Abbvie is looking forward to the end of the pandemic as Humira is a prescription drug. Immunologic drugs Skyrizi and Rinvoq are also likely to have contributed to revenue growth in Q1 2021.
In the second half of 2020, Rinvoq almost achieved a similar market share in the rheumatoid arthritis segment compared to Humira, while Skyrizi emerged as the market leader in the psoriasis segment.
Note that on April 23, AbbVie announced that the European Medical Agency's (EMA) Committee on Medicines (CHMP) has issued a positive opinion on VENCLYXTO (venetoclax) in combination with hypomethylating agents for the treatment of adult patients diagnosed with acute myeloid leukemia (AML). for whom intensive chemotherapy is not suitable. The positive opinion of the CHMP is a green flag for the European Commission, which is now expected to make the final decision on VENCLYXTO combination therapy in the 1st half of 2021.