In This Article:
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Full-Year Adjusted Earnings Per Share: $10.12, $0.49 above initial guidance midpoint.
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Total Net Revenues: $56.3 billion, exceeding initial guidance by more than $2 billion.
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Ex-HUMIRA Platform Sales Growth: More than 18% for the full year, 22% in the fourth quarter.
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SKYRIZI and RINVOQ Combined Revenue: Approximately $17.7 billion, an increase of nearly $6 billion year over year.
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Fourth-Quarter Immunology Revenues: Approximately $7.3 billion.
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Fourth-Quarter Oncology Revenues: Approximately $1.7 billion.
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Fourth-Quarter Neuroscience Revenues: $2.5 billion, up 19.9% operationally.
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Fourth-Quarter Aesthetics Sales: Approximately $1.3 billion, operational decrease of 4.4%.
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Fourth-Quarter Adjusted Earnings Per Share: $2.16, $0.08 above guidance midpoint.
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Fourth-Quarter Total Net Revenues: $15.1 billion, 6.1% operational growth.
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Adjusted Gross Margin: 83.8% of sales.
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Adjusted R&D Expense: 15.1% of sales.
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Adjusted SG&A Expense: 23.6% of sales.
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Adjusted Operating Margin Ratio: 34.7% of sales.
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Net Interest Expense: $610 million.
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Adjusted Tax Rate: 20.2%.
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2025 Full-Year Adjusted Earnings Per Share Guidance: Between $12.12 and $12.32.
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2025 Total Net Revenues Forecast: Approximately $59 billion, 5.7% operational growth.
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2025 Free Cash Flow Expectation: Approaching $17 billion.
Release Date: January 31, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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AbbVie Inc (NYSE:ABBV) delivered full-year adjusted earnings per share of $10.12, exceeding initial guidance by $0.49.
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Total net revenues were $56.3 billion, surpassing initial guidance by more than $2 billion.
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The ex-HUMIRA platform showed strong performance with a 22% revenue growth in the fourth quarter.
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SKYRIZI and RINVOQ are expected to generate nearly $24 billion in revenue in 2025, with a projected increase to over $31 billion by 2027.
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The neuroscience segment is projected to achieve $10 billion in sales in 2025, reflecting growth across psychiatry, migraine, and Parkinson's treatments.
Negative Points
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Global sales of HUMIRA declined by 48.7% due to biosimilar competition, with further access reductions anticipated in 2025.
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The aesthetics segment experienced a 4.4% operational decrease in sales, impacted by challenging market conditions in the US and China.
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The Medicare Part D benefit redesign is expected to have a roughly 4% net unfavorable impact on AbbVie's portfolio in 2025.
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IMBRUVICA revenues declined by 6.2% due to competitive dynamics in chronic lymphocytic leukemia (CLL).
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The aesthetics market faces headwinds from economic conditions, with a cautious outlook for modest sales growth in 2025.