In addition to delivering Q3 financial results well ahead of market expectations, AbbVie announced company projections to deliver top-tier revenue growth over the next five years – with sales of approximately $37 billion dollars in 2020 – based on continued strong performance from existing on-market products, including flagship brands Humira and Imbruvica, as well as growth from pipeline products.
AbbVie’s strong Q3 results included operational sales revenue of $5.9 billion. Adjusted earnings per share were $1.13, representing growth of nearly 27 percent versus the third quarter of 2014. This is the third consecutive quarter delivering roughly 30 percent EPS growth. Read the Q3 Earnings Results News Release for more details.
Additionally, the company publicly shared a long-range forecast that projects industry-leading growth through the next five years with total sales of approximately $37 billion dollars in 2020. This reflects 10 percent top-line sales growth, on average, over the five-year period.
“AbbVie is well-positioned to deliver strong top- and bottom-line performance through 2020 and beyond,” said Chairman and Chief Executive Officer Richard A. Gonzalez. “We have built a strong foundation, establishing growth platforms in some of the largest and most attractive market segments. And, we have a robust and compelling pipeline which will contribute significantly to our performance over our long-range-plan.”
The forecast for 2020 revenue includes estimated global Humira sales of more than $18 billion, revenue for Imbruvica of approximately $5 billion, and contributions from the HCV franchise of approximately $3 billion.
AbbVie’s pipeline also is expected to play a critical role in driving future performance, with nominal revenues of nearly $30 billion dollars by 2024, not including new Humira and Imbruvica indications and sales from the HCV franchise, including next-generation therapies. In addition, AbbVie has the potential to launch more than 20 new products or indications through 2020, including seven approvals that will contribute revenue in 2016 and beyond.
You can learn more about AbbVie’s long-term strategic objectives in the News Release and related slide deck.
