AbbVie reports first revenue miss in six quarters

Revenue rose 11 percent to $5.48 billion for the second quarter ended June 30, but missed the average analyst estimate of $5.62 billion, according to Thomson Reuters I/B/E/S.

Deutsche Bank analyst Robyn Karnauskas attributed the revenue miss to smaller-than-expected sales of ABBVIE (ABBV.NY)s hepatitis C treatment, Viekira Pak, in the United States.

AbbVie reported sales of $277 million for the drug in the United States.

Karnauskas said the consensus expectation was $278 million.

Viekira Pak, approved in December, is seen as AbbVie's next blockbuster, but the drug faces competition from Gilead Sciences Inc's Sovaldi and Harvoni.

However, AbbVie's revenue was boosted by higher sales of its arthritis drug, Humira, and the inclusion of Pharmacyclics' blood cancer drug, Imbruvica.

The company's profit jumped 24 percent to $1.37 billion.

Excluding special items, Abbott earned $1.08 per share, above analysts' average estimate of $1.06 per share.

AbbVie, which completed the acquisition of Pharmacyclics on May 26, backed its full-year profit forecast of $4.10-$4.30 per share.

Up to Thursday's close of $70.52, the company's shares had gained about 8 percent this year.

(Reporting by Vidya L Nathan in Bengaluru; Editing by Savio D'Souza and Sriraj Kalluvila)

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