AbbVie drops further on below-expected third-qtr revenue
The share price of US drugmaker AbbVie (NYSE: ABBV) was in decline again on Monday morning after revenue levels in its third quarter 2016 results fell below analysts’ predictions.
AbbVie shares fell in value by more than 6% to $57.59 on Friday, and they had slipped by a further 2% to $56.40 by midday on Monday.
Analysts surveyed by financial data provider FactSet had anticipated the Chicago-based firm to report revenue for the quarter of $6.56 billion, but the reported figure was $6.43 billion. This is a 8.2% rise compared to the same period in 2015, and it is a similar story when AbbVie’s flagship arthritis treatment Humira (adalimumab), the world’s best-selling drug, is considered alone.
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