Company Analysis: AbbVie
Author: PharmaVitae
Publisher: Datamonitor Healthcare
Published:
25 January 2021
Number of pages:
62
Formats:
PDF
- Highlights
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Report Snapshot
- AbbVie is one of the largest biopharmaceutical companies, with total revenues of more than $32bn in 2019.
- Humira is the largest contributor to AbbVie’s revenue, as the drug represented 59% of 2019 revenue.
- Humira’s sales have begun to decline in international markets due to biosimilar competition, but total product sales will be driven by continued growth in the US until 2023.
- AbbVie will not face competition from biosimilars for Humira in the US until 2023, due to settlement agreements with numerous drug makers including Mylan, Pfizer, Momenta, Amgen, and Novartis.
- AbbVie’s launch portfolio is expected to reduce the company’s dependence on Humira, as Skyrizi and Rinvoq are forecast to be blockbusters.
- AbbVie compares favorably to most peers regarding both near-term (2019–24) and long-term (2024–29) revenue growth rates; the company is also expected to generate more than 22% of revenue from launch products in 2025, which again is higher than peer average.
- Imbruvica’s revenue performance is mainly driven by favorable pricing and continuous use of the drug as a first-line therapy for the treatment of chronic lymphocytic leukemia (CLL).
- High-impact upcoming events comprise topline Phase III trial results for Skyrizi, Imbruvica, Venclexta, and ABBV951; and expected PDUFA dates for Imbruvica and Rinvoq.
- AbbVie acquired Allergan in a cash and stock transaction for a transaction equity value of approximately $63bn. Allergan markets a portfolio of brands and products primarily focused on key therapeutic areas including aesthetics, eye care, neuroscience, gastroenterology, and women’s health.
PharmaVitae explores AbbVie’s prescription pharmaceutical performance and outlook over 2019–29.
Snapshot
- Overview – Declines in AbbVie’s flagship product Humira due to biosimilar competition will be offset by the company’s robust portfolio of launch drugs.
- Key themes – [1] Biosimilar launches in Europe and other international markets have negatively impacted Humira’s growth, but the brand could grow in 2020 and should have revenue stability until US biosimilar launches in 2023 [2] AbbVie will see tremendous growth from Imbruvica, Skyrizi, Rinvoq, and Venclexta [3] Acquisition of Allergan, poised to close in 2020, will further diversify AbbVie’s revenues.
Model updates (3 November 2020)
- Skyrizi forecast adjusted higher due to continuation of strong launch
- Rinvoq forecast adjusted higher due to strong launch
- Mavyret forecast adjusted lower due to COVID-19 impact.
Model updates (3 August 2020)
- Abicipar pegol forecast removed due to CRL in the US and the withdrawal of regulatory filings in Europe and Japan
- Humira forecast adjusted higher in the US due to updated guidance from ABBV
- Rinvoq forecast adjusted higher in the US due to strong launch trends
- Botox forecast adjusted lower globally due to impact from COVID-19
- Juvederm forecast adjusted lower globally due to impact from COVID-19
- Veliparib forecast adjusted lower due to a pushout of estimated approval date.
Model updates (20 May 2020)
- Humira forecast adjusted lower in the US due to changes in reimbursement mix and lower new patient starts
- Mavyret forecast adjusted lower due to market dynamics in HCV
- Added Allergan drugs to AbbVie forecast due to closing of merger, including:
– Botox
– Restasis
– Vraylar
– Juvederm
– Linzess
– Lumigan
– Bystolic
– Alphagan
– Lo Loestrin
– AlloDerm
– Ozurdex
– Viibryd.
Model updates (25 February 2020)
- Humira forecast adjusted higher due to stronger US trends only partially offset by continued biosimilar impact internationally
- Skyrizi forecast adjusted higher due to strong initial launch in moderate-to-severe plaque psoriasis
- Rinvoq forecast adjusted lower in the near-term due to launch trend in moderate-to-severe rheumatoid arthritis
- Imbruvica forecast adjusted higher due to continued share gains in all lines of therapy in chronic lymphocytic leukemia and all approved indications
- Venclexta forecast adjusted lower due to improved forecast for Imbruvica and market trends in chronic lymphocytic leukemia
- Mavyret forecast adjusted lower due to lower treated patient volumes and increased competition in the US
- Orilissa forecast adjusted higher due to contribution from potential uterine fibroids label expansion
- Veliparib forecast pushed out to align with timeline for regulatory submission
- Navitoclax forecast added
- ABBV-951 forecast added.
Table of Contents
Company Background
Company Overview
Key Metrics
SWOT Analysis
Key Drug & Company Information
Company Comparison
Recent Earnings Review
Earnings Overview
Pharma Insights Analysis
Company Forecast
Prescription Pharmaceuticals Sales Outlook
Branded Drug Outlook
Launch Profile Outlook
Therapy Area Outlook
Regional Sales Outlook
Lifecycle Analysis
Company Profile
Marketed & Pipeline Drugs
Recent Events & Analyst Opinions
Upcoming Catalysts
Recent Insights
Clinical Trial Overview
Clinical Trial Snapshot
Clinical Trials by Country
Clinical Trials by Status and Phase
Clinical Trials by Drug
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