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AbbVie started 2021 strong, surpassing first-quarter earnings and revenue estimates. The Chicago-based pharmaceutical company saw a revenue increase in the first quarter from its primary breadwinner, Humira, in the U.S. The drug has faced steep competition globally from biosimilars, but AbbVie made up for it with increased sales from recently released plaque psoriasis drug Skyrizi and treatment for severe rheumatoid arthritis, Rinvoq. The two drugs made $2.3 billion just 12 months after being released. In 2019 AbbVie acquired Allergan for an eye-popping $63 billion and is now starting to reap the benefits. Allergan’s products, which includes Botox, made up almost 20% of AbbVie’s 2020 revenue.
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