Coronavirus stockpiling lifts AbbVie 1st-qtr sales and earnings
US pharma major AbbVie (NYSE: ABBV) closed trading up modest a 0.8% at $82.84 on Friday, despite reporting first-quarter 2020 financials that beat Wall Street predictions.
Worldwide net revenues were $8.619 billion, an increase of 10.1% on a reported basis, or 10.7% percent operationally, including a 240 basis point stocking benefit related to the COVID-19 pandemic. This beat consensus analysts’ expectations by around 4%.
On a generally accepted accounting principles (GAAP) basis, net interest expense was $428 million. The adjusted net interest expense was $284 million.
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