AbbVie expresses satisfaction with performance in 2013

AbbVie has announced its financial results for the 2013 business year, during which it generated a total of $18.79 billion (11.51 billion pounds).

This represented a year-on-year increase of 2.2 percent on a reported basis. For the fourth quarter alone, worldwide sales were $5.11 billion, down by 1.8 percent due to the loss of exclusivity on certain products.

Despite this, the company remains optimistic about its growth prospects for 2014, thanks to the continued double-digit sales increases for its key drug Humira. The firm is also progressing with the development of new therapies for hepatitis C, breast cancer and chronic lymphocytic leukaemia.

AbbVie expects an annual revenue total of approximately $19 billion over the next 12 months.

Richard Gonzalez, chairman and chief executive officer of AbbVie, said: "We intend to build on this momentum in 2014 as we invest in our key products, advance our pipeline and prepare for significant product launches that will drive growth in 2015 and beyond."

This represents a strong first year for AbbVie, the former proprietary pharmaceutical business of Abbott, which began trading as an independent company at the start of 2013.