AbbVie maintains strong growth in third quarter of 2016

AbbVie has announced its financial results for the third quarter of 2016, during which it reported a net revenue total of $6.43 billion (5.2 billion pounds).

This represented a year-on-year increase of 8.2 percent on a reported basis, or eight percent in adjusted terms. Sales of key brands such as Humira, Imbruvica, Creon and Duodopa were cited as important drivers of growth.

Highlights of the quarter include the achievement of important regulatory milestones for newer therapies such as Venclyxto and Zinbryta, as well as the developmental progress made with drugs such as rovalpituzumab tesirine, risankizumab and glecaprevir.

The company has raised its earnings guidance for the full year based on its strong performance for the year to date, while announcing an increase in its quarterly cash dividend from $0.57 to $0.64 per share.

Richard Gonzalez, chairman and chief executive officer of AbbVie, said: "AbbVie represents a unique investment opportunity, offering compelling growth along with a strong return of capital to investors, including a rapidly growing dividend, which has grown 60 percent since we became an independent company nearly four years ago."

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