Net revenue grew 17.8% year-over-year to $8.24 billion. Worldwide adjusted net revenue increased 18.5% on an operational basis, excluding 0.7% unfavorable impact from foreign exchange.
Humira sales rose 9% on a reported basis, or 9.8% operationally, excluding 0.8% unfavorable impact from foreign exchange. In the US, Humira sales grew 12.5% while it rose 4.2% internationally.
Looking ahead into the full year 2018, AbbVie lowered its GAAP EPS guidance to the range of $6.43 to $6.45 from the prior estimate range of $6.47 to $6.57. However, adjusted EPS outlook was lifted to the range of $7.90 to $7.92 from the previous forecast of $7.76 to $7.86. The midpoint of this guidance reflects a year-over-year growth of 41.3%.
Also, the company’s board of directors declared an increase in its quarterly cash dividend from $0.96 to $1.07 per share beginning with the dividend payable on February 15, 2019, to shareholders of record as of January 15, 2019. This reflects an increase of about 11.5%, continuing AbbVie’s strong commitment to returning cash to shareholders through a growing dividend.
For the third quarter, cancer drug Imbruvica revenues jumped 41.3% to $972 million while revenue from the Hematologic Oncology Portfolio climbed 48.1% to $1.07 billion. Global HCV (hepatitis C virus) revenues soared more than 100% to $862 million.
Research and development expenses were 15.4% of net revenues. The adjusted R&D expenses were 15.4%, reflecting funding actions supporting all stages of its pipeline.
During the quarter, AbbVie received FDA approval of Humira for the treatment of non-infectious intermediate, posterior, and panuveitis in patients down to 2 years of age and for the treatment of hidradenitis suppurativa in adolescent patients 12 years of age and older.
Shares of AbbVie ended Thursday’s regular session up 3.03% at $80.21 on the NYSE. The stock has fallen over 17% in the year so far and over 13% in the past year.