AbbVie raises annual profit forecast as Botox demand rebounds – Reuters

July 30 (Reuters) – Drugmaker AbbVie Inc (ABBV.N) raised its 2021 adjusted revenue projection on Friday, wagering that a need uptick for its Botox anti-wrinkle injection due to alleviating lockdowns will help conquer weak international sales for blockbuster drug Humira.Sales of Botox for cosmetic usage increased two-fold to $584 million in the 2nd quarter to trounce quotes of $483 million, as vaccinations encouraged individuals to march more and resume non-essential procedures after being holed up in the home for months.The service got Botox in 2015 as part of its $63 billion purchase of Allergan, a relocation targeted at cushioning the hit from the looming loss of U.S. patents for the worlds very popular drug Humira, expected in 2023. Sales of Humira, a treatment for rheumatoid arthritis and which is currently dealing with rivals in Europe, rose 4.8% to $5.07 billion, roughly in line with a Refinitiv IBES rate quote of $5.08 billion.But sales of the drug fell 6% on a reported basis in worldwide markets while rising 7.1% in the United States.The strong quarter was primarily driven by several Allergan products, while sales of core AbbVie ownerships can be found in relatively near expectations, Mizuho professional Vamil Divan said.AbbVie stated it anticipates full-year adjusted revenues in between $12.52 and $12.62 per share, compared with $12.37 to $12.57 per share formerly. The business quarterly results were likewise underpinned by two-fold dives in sales of psoriasis drug Skryizi and rheumatoid arthritis treatment Rinvoq.