AbbVie exceeds expectations during third quarter of 2014

AbbVie has announced its financial results for the third quarter of 2014, during which it delivered a better-than-expected performance.

The company's revenue total for the quarter came to $5.02 billion (3.14 billion pounds), up by 7.8 percent year over year, while its adjusted earnings per share total of $0.89 rose 8.5 percent – well above the previous guidance range of $0.77 to $0.79.

Its third-quarter sales growth was primarily driven by the continued strength of the Humira franchise, with revenues for the product surging by 17.5 percent. Key products such as Kaletra, Synthroid, Creon, Synagis and Duodopa also performed well.

As a result of this recent performance, the firm has raised its adjusted diluted earnings per share guidance for the full-year 2014 to $3.25 to $3.27, from the previous range of $3.06 to $3.16.

Richard Gonzalez, chairman and chief executive officer of AbbVie, said: "We look forward to the US approval of our interferon-free hepatitis C virus combination, which will further accelerate sales and earnings growth in 2015 and beyond."

These strong results will raise confidence in the company's future following the recent abortion of its planned merger with Shire.