The logo for AbbVie is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021.
Morningstar analyst Damien Conover said he had already factored in a hit to Imbruvica from the Medicare price negotiations, so the update on impairment was not "overly significant to our view."
Humira's global third-quarter sales fell 36% to $3.55 billion, but topped analysts' estimates of $3.48 billion, according to LSEG data.
AbbVie in July trimmed its 2023 view for Humira sales erosion to 35%, from 37% earlier.
The company's newer immunology drugs Skyrizi and Rinvoq generated sales of $2.13 billion and $1.11 billion, respectively, ahead of analyst expectations of $2.10 billion and $1.02 billion.
Persons:
Andrew Kelly, girding, AbbVie, Imbruvica, Morningstar, Damien Conover, Humira, Piper Sandler, Christopher Raymond, Ingelheim, Leroy Leo, Christy Santhosh, Maju Samuel, Bill Berkrot
Organizations:
New York Stock Exchange, REUTERS, U.S, Medicare, Analysts, Sandoz, AbbVie, Thomson
Locations:
New York City , New York, U.S, The Illinois, Bengaluru