Loading...
01/10 16:15
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
AbbVie has raised its revenue and EPS guidance, indicating strong financial performance. Skyrizi and Rinvoq are expected to exceed guidance, and there is optimism in the neuroscience and immunology portfolios. Despite challenges in the aesthetics market and Humira erosion, the company anticipates growth driven by pipeline advancements and strategic acquisitions. The Q&A highlighted strong competitive positioning and market share gains. While some uncertainties remain, the overall sentiment is positive, suggesting a stock price increase in the short term.
Adjusted Earnings Per Share (EPS) $1.86, which is $0.10 above the guidance midpoint. The increase was attributed to strong financial performance and operational execution.
Total Net Revenues Nearly $15.8 billion, reflecting an 8.4% growth on an operational basis. This exceeded expectations by approximately $300 million, driven by strong sales growth in immunology and neuroscience.
Immunology Revenues Approximately $7.9 billion, up 11.2% on an operational basis. Growth was driven by Skyrizi and Rinvoq, with Skyrizi global sales at $4.7 billion (46% operational growth) and Rinvoq global revenues at nearly $2.2 billion (34.1% operational growth).
Neuroscience Revenues More than $2.8 billion, up 19.6% on an operational basis. Growth was driven by strong performance in the migraine portfolio and Vraylar sales.
Oncology Revenues Nearly $1.7 billion, relatively flat versus the prior year. Growth from Venclexta and newer products offset the decline in Imbruvica sales due to competitive dynamics.
Aesthetics Revenues Approximately $1.2 billion, down 4.2% on an operational basis. Decline attributed to challenging market conditions and low consumer sentiment, particularly in the U.S.
Humira Global Sales $993 million, down 55.7% on an operational basis. Decline due to biosimilar competition.
Adjusted Gross Margin 83.9% of sales, reflecting strong operational performance.
Adjusted R&D Expense 14.3% of sales, with a total of $9 billion anticipated for 2025. Increase supports pipeline opportunities in core areas like immunology, oncology, neuroscience, and aesthetics.
Adjusted SG&A Expense 21.6% of sales, reflecting investments in commercial capabilities and promotional activities.
Free Cash Flow Approximately $13 billion generated in the first 9 months of the year, including $2.2 billion of Skyrizi royalty payments.
Skyrizi and Rinvoq: Combined sales growth of more than 40%, with Skyrizi global sales at $4.7 billion (46% growth) and Rinvoq global revenues at $2.2 billion (34.1% growth). Expanded indications for Rinvoq in IBD and other conditions.
Pipeline Advancements: Approximately 90 programs across all stages of development, including new product approvals for tavapadon and PVEK, and pivotal data for lutikizumab, Temab-A, and etentamig.
Acquisitions: Acquisition of Gilgamesh's bretisilocin for psychiatry pipeline and Capstan Therapeutics for immunology pipeline.
Immunology Market: Skyrizi and Rinvoq achieved in-play share leadership in Crohn's disease and ulcerative colitis across multiple countries. Skyrizi holds 50% in-play patient share for biologics in the U.S.
Neuroscience Market: Qulipta became the #1 CGRP treatment for migraine prevention with a 7.5% prescription share. VYALEV's Parkinson's treatment uptake exceeded expectations.
Aesthetics Market: Global sales of $1.2 billion, down 4.2% due to challenging market conditions and low consumer sentiment.
Revenue Growth: Total net revenues of $15.8 billion, reflecting 8.4% operational growth. Neuroscience revenues grew by 19.6%.
R&D Investment: $9 billion adjusted R&D expense planned for 2025, supporting pipeline opportunities in immunology, oncology, neuroscience, and aesthetics.
Dividend Growth: 5.5% increase in quarterly cash dividend, marking a 330% growth since inception.
Long-term Growth Investments: Investing $10 billion in U.S. capital over the next 10 years, including new manufacturing sites and R&D capacity expansion.
Shift in Treatment Paradigm: Rinvoq's label update allows use prior to anti-TNFs in IBD, reflecting a shift towards newer, higher efficacy agents.
Biosimilar Competition: Humira sales have declined significantly (down 55.7%) due to biosimilar competition, and further erosion is expected as more plans select exclusionary contracts for existing patients.
Market Conditions in Aesthetics: Global sales in aesthetics are down 4.2% due to challenging market conditions, low consumer sentiment, and economic concerns, particularly in the U.S., impacting discretionary spending.
Competitive Dynamics in Oncology: Imbruvica sales continue to decline due to competitive pressures in the chronic lymphocytic leukemia (CLL) market.
Economic and Inflationary Pressures: Concerns about the economy and inflation are weighing on consumer discretionary spending, particularly affecting the aesthetics segment.
Regulatory and Approval Risks: Several pipeline programs, including tavapadon and PVEK, are awaiting regulatory approvals, which carry inherent risks of delays or non-approval.
Supply Chain and Manufacturing Investments: Significant investments in manufacturing and R&D facilities, such as the new API manufacturing site in North Chicago, could face execution risks or cost overruns.
Dependence on Key Products: The company’s growth heavily relies on Skyrizi and Rinvoq, which may face future competitive or market challenges.
Macroeconomic Uncertainty: Global economic uncertainties could impact overall business performance, particularly in consumer-driven segments like aesthetics.
2025 Adjusted Earnings Per Share Guidance: AbbVie raised its full-year adjusted earnings per share guidance to between $10.61 and $10.65.
Revenue Projections: Total net revenues for 2025 are expected to be approximately $16.9 billion, an increase of $400 million from prior guidance. Neuroscience global revenues are projected at $10.7 billion, reflecting continued strength across Vraylar, Botox Therapeutic, VYALEV, and the total oral CGRP portfolio. Aesthetics total sales are projected at $4.9 billion, reflecting market softness globally.
Skyrizi and Rinvoq Growth: Skyrizi global sales are projected to reach $17.3 billion, reflecting continued share gains in psoriasis and IBD. Rinvoq is expected to continue its strong growth trajectory, supported by expanded indications and label updates.
Pipeline Milestones: Several important milestones are expected over the next two years, including new product approvals for tavapadon and PVEK, expanded indications for Rinvoq, Epkinly, Qulipta, and Ubrelvy, and pivotal data for lutikizumab, Temab-A, and etentamig.
R&D Investment: AbbVie anticipates $9 billion of adjusted R&D expense in 2025, supporting numerous pipeline opportunities across core areas such as immunology, oncology, neuroscience, and aesthetics, as well as new growth areas like obesity.
Capital Allocation: AbbVie plans to invest at least $10 billion of capital in the U.S. over the next 10 years, including construction of a new API manufacturing site in North Chicago and expansion of biologics manufacturing and R&D capacity in Worcester.
Dividend Growth: AbbVie announced a 5.5% increase in its quarterly cash dividend, beginning with the dividend payable in February 2026.
Aesthetics Market Outlook: While the aesthetics market is currently facing challenging conditions due to low consumer sentiment and economic concerns, AbbVie remains optimistic about long-term growth potential, supported by new consumer campaigns and product innovations.
Neuroscience Expansion: AbbVie is actively expanding its field sales team to support higher anticipated demand for its emerging Parkinson's portfolio, including tavapadon and VYALEV.
Oncology Pipeline: AbbVie is advancing its oncology pipeline with promising programs like Temab-A, which has shown durable efficacy and manageable safety profiles in difficult-to-treat cancers. Phase III and Phase II studies for various indications are planned.
Dividend Growth: AbbVie announced a 5.5% increase in its quarterly cash dividend, starting with the dividend payable in February 2026. Since its inception, AbbVie has grown its quarterly dividend by more than 330%.
AbbVie has raised its revenue and EPS guidance, indicating strong financial performance. Skyrizi and Rinvoq are expected to exceed guidance, and there is optimism in the neuroscience and immunology portfolios. Despite challenges in the aesthetics market and Humira erosion, the company anticipates growth driven by pipeline advancements and strategic acquisitions. The Q&A highlighted strong competitive positioning and market share gains. While some uncertainties remain, the overall sentiment is positive, suggesting a stock price increase in the short term.
AbbVie's earnings call reveals strong financial performance and optimistic guidance, with raised EPS and revenue expectations. The Q&A session highlights confidence in key products like Skyrizi and Rinvoq, despite minor biosimilar impacts. Neuroscience and pipeline growth are promising, while aesthetics face challenges. Management's strategic focus on pipeline development and business expansion supports positive sentiment. Overall, the company's robust outlook and strategic initiatives indicate a likely positive stock price movement over the next two weeks.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
