AbbVie—a North Chicago, Ill.-based biopharmaceutical company—is laying the foundation for its future as the company looks to move beyond its flagship drug Humira. Global Humira sales dropped 5.6% to $4.4 billion in the first quarter of 2019. The drug took a steep 27.9% downturn in international markets during the same time period in part due to the entry of biosimilars in Europe. This contrasts with global Humira sales in FY2018, which increased 8.2% year-over-year to $19.9 billion. Still, AbbVie raised its earnings-per-share guidance for 2019 in April coming off the FDA approval of its drug Skyrizi. The plaque psoriasis drug has been reported to be set to launch later this year.
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