trending Market Intelligence /marketintelligence/en/news-insights/trending/WHDW5hIuRMiRxibIDRLYVg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

AbbVie CEO projects confidence in face of biosimilar threat

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


AbbVie CEO projects confidence in face of biosimilar threat

AbbVie Inc. will look to maintain its market share and maximize profitability as biosimilars threaten to cut into international sales of its top drug.

Two biosimilars for Humira were given a positive recommendation by the European Medicines Agency on the same day that AbbVie released its 2016 earnings and forecast for 2017. Humira, used to treat arthritis and a number of rheumatoid and dermatological ailments, accounted for $16.08 billion in global sales during 2016.

On a Jan. 27 earnings call, AbbVie CEO Richard Gonzalez said he believes the company's patents will protect Humira's U.S. market share through 2022. He noted that based on the recent FDA ruling on biosimilars, the two biosimilars, Amgen Inc.'s Amgevita and Solymbic, could have a more complicated process to get U.S. approval.

The company does not believe any of the current single-switch studies would meet the FDA standard. "But we will have to see how the competitive dynamics play out as people look at this and start to design programs in order to try to achieve interchangeability and so I think we will need to see how that plays out over time," said Gonzalez.

"The strategy that we have in place is not one that hinges on one or two patents," Gonzalez added, noting that the company has at least 110 patents.

In a research note, Barclays analyst Geoff Meacham said AbbVie shares could be under modest pressure given the EMA announcement, as well as mixed results from some of its non-Humira drug sales. Overall, Barclays said, "Humira headlines from biosimilar threats could continue to be a drag on sentiment despite what has been good pipeline progress overall."

The potential biosimilars competition comes after Gonzalez committed that the company would keep price increases below 10%. In the earnings call, Gonzalez reiterated that the company will do only one price increase per year and that all increases will be in single digits.

Gonzalez noted that most AbbVie assets have already received that single price bump for this year. Overall, he said, it is important for pharmaceutical companies to continue demonstrating their medicine's values as pricing pressures increase in the new U.S. administration.