Welcome to AbbVie’s Third Quarter Financial Report

Highlights of the Third Quarter Financial Results

AbbVie reported a third-quarter diluted EPS of $0.88 on a GAAP basis, a decrease of 12.0 percent. However, the adjusted diluted EPS was $3.00, an increase of 1.7 percent. These results include an unfavorable impact of $0.04 per share related to acquired IPR&D and milestones expense. The company delivered third-quarter net revenues of $14.460 billion, an increase of 3.8 percent on a reported basis or 4.9 percent on an operational basis.

Key Revenue Figures by Portfolio

During the third quarter, AbbVie’s global net revenues from the Immunology Portfolio were $7.046 billion, an increase of 3.9 percent on a reported basis, or 4.8 percent on an operational basis. Global Humira net revenues were $2.227 billion, while global Skyrizi net revenues were $3.205 billion, and global Rinvoq net revenues were $1.614 billion. The Oncology Portfolio saw global net revenues of $1.687 billion, an increase of 11.6 percent on a reported basis, or 13.0 percent on an operational basis. Global Imbruvica net revenues were $828 million, and global Venclexta net revenues were $677 million.

AbbVie’s Neuroscience Portfolio reported global net revenues of $2.363 billion, an increase of 15.6 percent on a reported basis, or 16.0 percent on an operational basis. Global Botox Therapeutic net revenues were $848 million, global Vraylar net revenues were $875 million, and combined global Ubrelvy and Qulipta net revenues were $445 million. The Aesthetics Portfolio had global net revenues of $1.239 billion, a decrease of 0.1 percent on a reported basis, or an increase of 1.8 percent on an operational basis. Global Botox Cosmetic net revenues were $671 million, and global Juvederm net revenues were $258 million.

Strategic Business Moves

AbbVie successfully completed the acquisition of Cerevel, adding a pipeline of highly complementary assets to AbbVie’s existing Neuroscience Portfolio. The company also raised its 2024 adjusted diluted EPS guidance range and announced a 2025 dividend increase of 5.8 percent.

Impact on Individuals

As a consumer of healthcare services, the financial performance of AbbVie may affect the availability and pricing of medications and treatments. Patients relying on AbbVie’s pharmaceutical products may see changes in accessibility and affordability based on the company’s financial health.

Impact on the World

AbbVie’s financial results can have broader implications for the pharmaceutical industry and the healthcare sector as a whole. Positive performance by a major player like AbbVie could lead to increased investment in research and development, while negative results may prompt changes in strategic initiatives and market approaches.

Conclusion

AbbVie’s third-quarter financial report showcases a mix of successes and challenges across its various portfolios. The company’s strategic moves, such as the acquisition of Cerevel and the adjusted EPS guidance raise, indicate a proactive approach to navigating the competitive healthcare landscape. The impact of AbbVie’s performance extends beyond individual consumers to the broader world of pharmaceuticals and healthcare, influencing market trends and industry dynamics.