AbbVie Expects to Shake Off Risk From Humira’s US Competion (1)

AbbVie Inc. doesn’t foresee an earnings slump in 2024, the first full year its blockbuster anti-inflammatory drug Humira faces competition from cheaper alternatives in the US.

Humira will remain available on drug plans accessible to more than 90% of insured Americans in 2023, Chief Executive Officer Rick Gonzalez told an audience at the JPMorgan Healthcare Conference in San Francisco Tuesday. That means most of those on the drug won’t be forced to switch to a cheaper alternative. The shares fell as much as 2.6% as of 10:24 a.m. in New York.

The company also has a pipeline of drugs to ...