AbbVie Revenue Jumps 3.3% For Q3

Propelled by sales of its arthritis drug Humira, AbbVie Inc. reported a 3.3-percent year-over-year increase in revenue for its third quarter while turning in a profit of just under $1 billion, the company said today.

The Chicago-based company, which has a research and development facility in Worcester, reported global sales of just under $4.7 billion. Sales of Humira alone jumped 19.1 percent, accounting for close to three-fifths of the company’s revenue in the quarter. AbbVie also cited “strong growth” in sales for some of its other products, including Synthroid, Creon, Zemplar and Duodopa.

The company also said its investment in research and development supports the introduction of new drugs.

"Our third-quarter performance demonstrates the strength and durability of our product portfolio and the continued execution of our key strategic priorities as an independent biopharmaceutical company," said Chairman and CEO Richard A. Gonzalez. "Our mid- to late-stage pipeline contains a number of potentially significant opportunities, and we look forward to a series of milestones across our pipeline in the coming months."

The company’s net income for the quarter was $964 million, or 60 cents a share, down from $1.6 billion, or $1.01 per share, from the third quarter of 2012.

For the first nine months of 2013, sales rose 3.8 percent to $13.7 billion. Revenue from Humira jumped nearly 16 percent.