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AbbVie gains on updated 2018 EPS guidance

January 27, 2018 12:07 AM UTC

AbbVie Inc. (NYSE:ABBV) gained $14.91 (14%) to $123.21 on Friday after increasing its full-year 2018 non-GAAP EPS guidance to $7.33-$7.43 from $6.37-$6.57. The pharma said the adjusted range reflects "the impact of U.S. tax reform and stronger operating performance." AbbVie added $23.8 billion in market cap when it announced the news in its earnings.

Sales of autoimmune drug Humira adalimumab were $4.9 billion in 4Q17, up 14% from 4Q16 and slightly ahead of the $4.8 billion consensus estimate. For 4Q17, non-GAAP diluted EPS beat consensus by three cents, coming in at $1.48 compared to $1.20 in 4Q16. Revenues for the quarter were $7.7 billion, beating the $7.5 billion consensus estimate and up from the $6.8 billion reported in 4Q16...

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