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

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AbbVie

Jan 08, 2015, 04:07 ET

NORTH CHICAGO, Ill., Jan. 8, 2015 /PRNewswire/ -- AbbVie (NYSE: 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.

About AbbVie

AbbVie is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. The company's mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world's most complex and serious diseases. AbbVie employs approximately 25,000 people worldwide and markets medicines in more than 170 countries. For further information on the company and its people, portfolio and commitments, please visit www.abbvie.com. Follow @abbvie on Twitter or view careers on our Facebook or LinkedIn page.

Forward-Looking Statements

Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," in AbbVie's 2013 Annual Report on Form 10-K and in Item 1A, "Risk Factors" of Part II of AbbVie's second quarter 2014 Quarterly Report on Form 10-Q, which have been filed with the Securities and Exchange Commission. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

SOURCE AbbVie