AbbVie Issues Strong Outlook for 2015
- Expects Adjusted Earnings Per Share of $4.25 to $4.45 (GAAP EPS of $3.99 to $4.19); Guidance to be Further Refined as HCV Launch Progresses
- Guidance Midpoint Reflects Adjusted EPS Growth of More Than 30 Percent from AbbVie's Previously Communicated 2014 Guidance Range
NORTH CHICAGO, Ill., Jan. 8, 2015 /PRNewswire/ -- AbbVie (ABBV) today issued earnings-per-share guidance for the full-year 2015.
AbbVie expects diluted earnings per share of $4.25 to $4.45 on an adjusted basis, and $3.99 to $4.19 under Generally Accepted Accounting Principles (GAAP), for the full-year 2015. The midpoint of the 2015 guidance range reflects adjusted earnings-per-share growth of more than 30 percent from AbbVie's previously communicated 2014 adjusted EPS guidance. AbbVie intends to further refine its 2015 guidance as the HCV launch progresses.
AbbVie expects its industry-leading growth in 2015 to be driven by continued strong growth from HUMIRA and the launch of the company's HCV regimen, VIEKIRA, partially offset by a decline in several products due to generic competition including AndroGel and the remainder of the lipid franchise.
"AbbVie has delivered strong performance in our first two years as an independent company and we expect to continue building on that momentum in 2015 with a return to top-tier growth," said Richard A. Gonzalez, chairman and chief executive officer, AbbVie. "In addition to generating strong financial results, our priorities this year include strong commercial and operational execution as well as advancement of our promising pipeline."
In 2015, the company expects a number of important data and regulatory milestones, as well as clinical program advancements, including:
Regulatory approval of HCV regimen in Europe
HCV regulatory submission in Japan
ABT-199 data in relapse/refractory CLL patients with 17p deletion
Zinbryta (daclizumab) regulatory submissions in U.S. and Europe
Elagolix Phase 3 data in endometriosis and Phase 2b data in uterine fibroids
Phase 2b data from next-generation HCV program
U.S. regulatory approval of Duopa for advanced Parkinson's disease
Mid-stage data from selective JAK-1 programs
Elotuzumab Phase 3 data in multiple myeloma
Mid-stage data from a number of oncology programs including veliparib, ABT-414 and ABT-199 in other indications
HUMIRA hidradenitis suppurativa regulatory decisions
HUMIRA uveitis pivotal data and regulatory submissions
The company's 2015 adjusted diluted earnings-per-share guidance excludes $0.26 per share of intangible asset amortization expense and other specified items primarily associated with separation-related costs and ongoing restructuring activities.
The company will provide detailed 2015 guidance, including product sales estimates and other financial metrics, on its fourth quarter earnings conference call, scheduled for Jan. 30, 2015.
