AbbVie says Pharmacyclics drug, new form of Humira to lift company

Reuters

Thu, Mar 5, 2015, 10:21 AM

March 5 (Reuters) - AbbVie Inc said on Thursday it fought two other drugmakers to "the bitter end" to buy Pharmacyclics Inc and its hot-selling Imbruvica cancer drug, and expects the medicine to generate eventual peak annual sales of more than $7 billion.

Chief Executive Officer Richard Gonzalez, in a conference call with industry analysts, said AbbVie remained confident its blockbuster Humira arthritis drug will continue to grow despite the threat of generic rivals. He added that the company is developing an altered formulation of Humira that could protect the drug franchise.

(Reporting by Ransdell Pierson)

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