Shares of AbbVie (ABBV) slumped Friday as the pharmaceutical firm warned of deeper declines in sales of its blockbuster arthritis drug, Humira, because of competition from close copies known as biosimil🃏ars.

Once the 澳洲幸运5官方开奖结果体彩网:world’s biggest-selling drug, Humira lost exclusivity last year, and nine biosimilars hit the U.S. market. During its first-quarter earnings call with analysts, the company said it expects current-quarter Humira sales would fall 32%. That would be on top of the 35.9% drop in the first three months of the year.

The Humira news offset AbbVie’s better-than-expected results and higher guidance. The company reported adjusted profit of $2.31 per share, with revenue up 0.7% to $12.31 billion. Both were above 澳洲幸运5官方开奖结果体彩网:estimates.

AbbVie got a boost from psoriasis and psoriatic arthritis treatment Skyrizi, whose sales soared 47.6% to $2 billion, and rheumatoid arthritis drug Rinvoq, which h🐟ad a 59.3% jump in sales to $1.09 billion.

The company raised its full-year 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) outlook t𝔍o a range of $11.13 to $11.33 from the previous $10𓂃.97 to $11.17.

AbbVie shares were down 4.6% at $159.55 about an hour before the closing bell. They♒ have slipped into negative territory for 2024.