AbbVie Kicks Off Humira Battle Year With Light Profit Guidance

AbbVie (ABBV) stock inched higher on Thursday after the company reported adjusted income of $3.60 per share on $15.12 billion in fourth-quarter sales.

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Wall Street analysts projected earnings of $3.57 per share and $15.33 billion in sales, according to FactSet. Sales of blockbuster inflammation treatment Humira sank almost 5% to $5.58 billion. Humira has long faced biosimilar rivals in Europe. Amgen (AMGN) recently launched the first U.S. knockoff.

In the year-ago period, AbbVie earnings were $3.08 a share on $14.89 billion in sales.

For the year, AbbVie predicted to adjusted earnings of $10.70-$11.10 per share. AbbVie stock analysts are seeing earnings of $11.73 per share and $54.32 billion in sales.

In premarket trading on the stock market today, AbbVie stock rose 1% near 146.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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