Abbvie Inc (NYSE:ABBV) shares were lower on Friday after the pharma reported quarterly adjusted revenue that missed analysts' estimates as weaker-than-expected sales of its hepatitis C treatment and cancer therapy overshadowed strong US demand for its flagship drug, Humira.
The company's shares were down 2.4% at $59.80 on Friday, erasing more than $2.5bn of its market value.
AbbVie has sharpened its focus on oncology to reduce its reliance on Humira. The company bought Pharmacyclics and its half-ownership of the leukemia drug, Imbruvica, for $21bn in 2015.
However, AbbVie said it expects 2017 Imbruvica sales of $2.4bn, up from $1.83bn last year.
The company forecast full-year Vikiera sales of $1bn, below the $1.52bn the drug yielded last year.
The sales expectations come when investors are already jittery about looming biosimilar competition for Humira, the world's top-selling drug as well as uncertainties around the sector if US President Donald Trump carries out his threat to stamp on high-rise drug prices.