AbbVie’s Strong Results Lessen Need For Big Deal

(Reuters) - AbbVie, which this month abandoned its planned $55 billion purchase of Dublin drugmaker Shire (SHP.L), reported impressive quarterly earnings on demand for its Humira arthritis drug and said it could deliver strong long-term growth without rushing into another big merger attempt.

“The underlying growth prospects of AbbVie don’t require us to do a deal of that size,” AbbVie Chief Executive Richard Gonzalez said in conference call, but added the company was keen on smaller acquisitions, particularly of treatments involving rare diseases, cancer and hepatology.

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