AbbVie is finally offering answers to questions investors have been asking since the drugmaker spun off from Abbott Laboratories in 2012: How badly will the loss of patent protection for AbbVie’s top-selling drug hurt and how long will it take to recover?
For the first time, AbbVie last month gave detailed projections for revenue trends after Humira loses protection from generic competition in the U.S. CEO Richard Gonzalez told an investor conference that sales will decline when Humira copycats invade the U.S. market in 2023, rise modestly in 2024 and reach high-single-digit growth in 2025 and beyond.
The prediction of a rapid rebound dispels some of the uncertainty that has hovered over AbbVie as it nears the end of a long exclusivity period for its blockbuster drug. Humira sales peaked at $19.9 billion in 2018, accounting for 61 % of AbbVie’s revenue. But international sales of Humira sank 13.6 %