AbbVie Expects 9% Tax Rate, Thanks To US Tax Reform Law

 
• By Joseph Haas
  
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The tax reform windfall makes an already strong fourth quarter and full year 2017 financial report more impressive for AbbVie, which reported continuing growth for Humira and Imbruvica, and a big uptick in HCV.

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AbbVie Inc. was going to report solid fourth quarter and full-year 2017 business anyway, but its projection that US tax reform would give it an industry-best effective tax rate of 9% in 2018 astonished market analysts. On top of sales growth led by Humira, Imbruvica and better-than-anticipated hepatitis C performance, AbbVie's quarterly report on Jan. 26 got glowing remarks across the board.

On the basis of its tax rate projections, the Chicago-area pharma offered revised 2018 sales and earnings-per-share guidance that likewise...

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