(Reuters) – AbbVie Inc (NYSE): Friday’s Wall Street sales estimates missed the mark for the first quarter. This was due to European competition from Humira, its blockbuster drug for rheumatoid joint disease; and lower revenue for Rinvoq.

Humira’s sales dropped 2.7% to $4.74billion in its first quarter. That is lower than the estimates of $4.91billion. Humira faces increased competition from European biosimilars that are cheaper. The drug’s rivals are likely to be available in the United States in next year as it loses its patent protection.

AbbVie hopes that the peak sales of Rinvoq, its other drug for rheumatoid arthritis and Skyrizi to treat plaque psoriasis will surpass that of Humira. The company is working hard to get expanded approvals of both of these drugs.

Sales of Rinvoq rose 53.6%, to $465 Million in the March 31 quarter. However, this was below expectations of $500.6 millions. Skyrizi’s sales of $940million beat expectations by almost $24 million.

AbbVie’s $63 billion acquisition of Botox-maker Allergan (NYSE 🙂 was completed last year. This move was done to diversify the company’s portfolio in advance of Humira losing its exclusivity by 2023.

Botox sales for cosmetic purposes rose 34.4% and reached $641 million. That’s up from $569.88 million.

Refinitiv IBES estimate of $13.61 trillion was not accurate, but net revenues of $13.54billion beat AbbVie’s goal of $13.50billion.

AbbVie has lowered its projected adjusted earnings per share to $13.92 to $14.12 from its earlier estimate of $14.00 and $14.20. This was due to a decrease in upfront and milestone costs, which were now included as part of its new regulatory guidance.