AbbVie reports strong global sales of its rheumatoid-arthritis drug Humira. Associated Press
AbbVie Inc. ABBV -1.66% said its second-quarter earnings rose as strong global sales of the drug maker's rheumatoid-arthritis drug Humira continued to boost results.
AbbVie, which clinched a $54 billion deal to buy Shire SHPG -0.11% PLC earlier this month, is trying to reduce its reliance on sales of Humira, the world's top-grossing prescription drug in 2013, responsible for more than half of its sales. Humira is expected to begin losing patent protection by the end of 2016.

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Global sales of Humira rose 26% to $3.29 billion in the latest period.
Still, AbbVie shares slipped 1.4% to $53.29 in midafternoon trading.
In addition to the tax advantages of the Shire acquisition, the purchase will allow AbbVie to diversify its product lineup. AbbVie, which was spun off from Abbott Laboratories ABT +0.35% in early 2013, is also working on drugs to treat hepatitis C, cancer and multiple sclerosis.
Overall, the pharmaceutical company posted a profit of $1.10 billion, or 68 cents a share, up from $1.07 million, or 66 cents a share, a year earlier. Excluding specified items, adjusted per-share earnings were 82 cents. The company in April had targeted adjust per-share earnings of 75 cents to 77 cents a share.
Net sales climbed 5% to $4.93 billion. Analysts polled by Thomson Reuters had predicted sales of $4.70 billion, and the company had forecast flat to slightly increasing revenue.
Total operating costs and expenses rose 5.3% to $3.41 billion.
AbbVie's acquisition of Shire will allow the company to establish its tax headquarters in the U.K., following in the footsteps of a number of other pharmaceutical companies using "inversion" deals to take advantage of lower European corporate tax rates. The company, which plans to keep its operation base in North Chicago, Ill., will lower its tax rate to 13% by 2016, from 22% currently, by making the move.
AbbVie has said the combined company would be a leader in the fields of immunology, rare diseases, neuroscience and metabolic diseases. But the two companies have little overlap in their respective businesses, limiting likely cost synergies.
For the current quarter, AbbVie expects to post adjusted earnings of 77 cents to 79 cents a share, excluding the potential impact of the transaction with Shire. Analysts had expected per-share earnings of 77 cents.
The company affirmed its earnings outlook for the year.
Write to Anna Prior at anna.prior@wsj.com


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Cell Mol Life Sci. 2005 Aug;62(16):1850-62.

The therapeutic potential of tumor necrosis factor for autoimmune disease: a mechanistically based hypothesis.

Kodama S1, Davis M, Faustman DL.

Author information

Abstract

Excess levels of tumor necrosis factor-alpha (TNF-alpha) have been associated with certain autoimmune diseases. Under the rationale that elevated TNF-alpha levels are deleterious, several anti-TNF-alpha therapies are now available to block the action of TNF-alpha in patients with autoimmune diseases with a chronic inflammatory component to the destructive process. TNF-alpha antagonists have provided clinical benefit to many patients, but their use also is accompanied by new or aggravated forms of autoimmunity. Here we propose a mechanistically based hypothesis for the adverse events observed with TNF-alpha antagonists, and argue for the opposite therapeutic strategy: to boost or restore TNF-alpha activity as a treatment for some forms of autoimmunity. Activation defects in the transcription factor nuclear factor kappaB leave autoreactive T cells sensitive to TNF-alpha-induced apoptosis. Treatment with TNF-alpha, by destroying autoreactive T cells, appears to be a highly targeted strategy to interrupt the pathogenesis of type 1 diabetes, lupus and certain forms of autoimmunity.
PMID:
15968469
[PubMed - indexed for MEDLINE]