The story with AbbVie NYSE: ABBV in 2024 is that it fell off a patent cliff but survived. It survived and continues to thrive because of its strengths in its core immunology portfolio and diversification efforts. While Humira sales continue to flag, falling more than expected in Q3, sales of Rinvoq and Skyrizi are ramping and more than make up the difference. Sales in other segments, including oncology and neurology, also underpin the pharmaceutical company’s growth and are expected to remain strong, if not ...

Partnership to Combine AbbVie's Oncology Expertise with EvolveImmune's Proprietary EVOLVE T-Cell Engager Platform to Develop Novel Multispecific Therapeutic Antibodies for Cancer NORTH CHICAGO, Ill. and BRANFORD, Conn., Oct. 31, 2024 /PRNewswire/ -- AbbVie (NYSE: ABBV) and EvolveImmune Therapeutics, an immuno-oncology company developing next-generation biotherapeutics to overcome the therapeutic challenges of cancer cell resistance to current immunotherapies, today announced a collaboration and option-to-li ...

It's hard to beat the power of dividend-paying stocks. They have outperformed non-payers significantly. If you don't have many dividend-paying stocks in your portfolio, you might want to rethink your asset allocation because dividend payers can be surprisingly powerful long-term performers. For starters, a company generally needs to grow enough to have relatively reliable income, giving management the confidence with which to initiate -- and then maintain -- a dividend payment to shareholders. Such companie ...

Since I last checked on pharmaceutical company AbbVie Inc. (NYSE: ABBV ) in August, its share price hasn't gone anywhere. But the release of its third quarter (Q3 2024) results shows investors are happy Manika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants , takes th ...

Financial Data and Key Metrics - AbbVie reported Q3 2024 sales of $14.5 billion, reflecting robust operational growth of 4.9% [55] - The ex-Humira platform grew nearly 18%, contributing significantly to the overall performance [55] - Adjusted EPS for Q3 was $3, $0.10 above the guidance midpoint, with a full-year adjusted EPS guidance raised to $10.90-$10.94 [55][57] - Skyrizi and Rinvoq combined sales are expected to exceed $17 billion in 2024, $1.3 billion above initial expectations [8] Business Line Performance - Immunology revenues were $7 billion, with Skyrizi sales up 51.5% to $3.2 billion and Rinvoq sales up 47.4% to $1.6 billion [14][18] - Oncology revenues were $1.7 billion, with Venclexta sales up 18.2% to $677 million [24] - Neuroscience revenues grew 16% to $2.3 billion, driven by Vraylar sales up 16.6% to $875 million [26] - Aesthetics sales grew 1.8% to $1.2 billion, with Botox Cosmetic sales up 6.5% to $414 million [31] Market Performance - Skyrizi achieved in-play biologic share leadership in approximately 30 key countries, with a 32% U.S. in-play patient share in Crohn's disease [16] - Rinvoq captured double-digit in-play patient share in the U.S. for ulcerative colitis and Crohn's disease, with both indications available in over 75 countries [18] - Venclexta saw strong momentum in Europe due to guideline changes recommending its combination use with BTK inhibitors [24] Strategic Direction and Industry Competition - AbbVie completed the acquisition of Cerevel Therapeutics, strengthening its neuroscience pipeline, particularly in Parkinson's and schizophrenia [10] - The company is advancing key R&D programs, including the U.S. approval of Vyalev for advanced Parkinson's and the submission of Teliso-V for non-small cell lung cancer [11] - Skyrizi and Rinvoq have demonstrated strong differentiation with compelling head-to-head data against competitors like Humira, Stelara, and Dupixent [21] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in achieving robust mid-single-digit growth for 2025, driven by strong performance from Skyrizi and Rinvoq [72] - The company highlighted the potential for long-term growth in immunology, oncology, neuroscience, and aesthetics, supported by a strong pipeline and strategic acquisitions [7][10] - AbbVie announced a 5.8% increase in its quarterly cash dividend, reflecting confidence in its financial stability and growth prospects [12] Other Important Information - AbbVie raised its full-year revenue guidance by $500 million, now expecting total revenues of approximately $56 billion [57] - The company generated $11 billion in free cash flow, supporting a strong dividend and debt repayment strategy [64] - AbbVie is on track to achieve a net leverage ratio of two times by the end of 2026 [65] Q&A Session Summary Question: Humira Volume Shifting to Newer Drugs and 2025 Growth Outlook - Management confirmed that the shift of Humira volumes to Skyrizi and Rinvoq is a net positive, with robust mid-single-digit growth expected for 2025 [72][73] - The company noted that consensus estimates for Humira may need adjustment due to faster-than-expected erosion [73] Question: Skyrizi Head-to-Head Trial Against Entyvio - AbbVie is confident in Skyrizi's superiority in ulcerative colitis, particularly in naive patients, with endoscopic improvement rates of 76% [82][83] Question: Emraclidine Data Expectations - Management expects emraclidine to differentiate based on its safety profile and tolerability, with data readouts expected in Q4 2024 [87][88] Question: Skyrizi and Rinvoq Formulary Positioning for 2025 - AbbVie anticipates no material changes in formulary access for Skyrizi and Rinvoq in 2025, with low single-digit rebate changes expected [95][96] Question: Aesthetics Business Long-Term Outlook - The company remains confident in achieving $9 billion in aesthetics sales by 2029, driven by innovation like BoNT/E, despite near-term economic challenges [111][112] Question: Eye Care and Future Therapeutic Areas - Eye care is part of AbbVie's five key growth areas, with potential for opportunistic investments in metabolics and cardio if differentiation is achieved [116][117] Question: Emraclidine Placebo Effect Management - AbbVie has implemented strategies to manage placebo effects in emraclidine trials, including limiting sites and rigorous rater training [121][122] Question: Aliada Acquisition and Neuroscience Strategy - The Aliada acquisition enhances AbbVie's neuroscience pipeline, particularly in Alzheimer's, with potential for subcutaneous dosing and reduced ARIA risk [125][126] Question: Vraylar Channel Mix Pressure - Vraylar experienced slight channel mix pressure in Q3, leading to a $100 million reduction in guidance, offset by growth in Botox Therapeutics [143][144]

AbbVie Inc. (ABBV) reported adjusted earnings of $3.00 per share for the third quarter of 2024, beating the Zacks Consensus Estimate of $2.92. The reported earnings also exceeded the company's guidance of $2.88-$2.92 issued earlier this month. Earnings increased 1.7% year over year. ABBV's revenues of $14.46 billion also beat the Zacks Consensus Estimate of $14.28 billion. Sales rose 3.8% year over year on a reported basis and 4.9% on an operational basis. Revenues in third quarter were driven by robust sal ...

For the quarter ended September 2024, AbbVie (ABBV) reported revenue of $14.46 billion, up 3.8% over the same period last year. EPS came in at $3.00, compared to $2.95 in the year-ago quarter.The reported revenue represents a surprise of +1.29% over the Zacks Consensus Estimate of $14.28 billion. With the consensus EPS estimate being $2.92, the EPS surprise was +2.74%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

AbbVie (ABBV) came out with quarterly earnings of $3 per share, beating the Zacks Consensus Estimate of $2.92 per share. This compares to earnings of $2.95 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 2.74%. A quarter ago, it was expected that this drugmaker would post earnings of $2.57 per share when it actually produced earnings of $2.65, delivering a surprise of 3.11%. Over the last four quarters, the company has surpass ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 3, 2024 ABBVIE INC. (Exact name of registrant as specified in its charter) Delaware 001-35565 (State or other Jurisdiction (Commission File Number) of Incorporation) _____________________________________________________ 1 North Wauke ...

Reports Third-Quarter Diluted EPS of $0.88 on a GAAP Basis, a Decrease of 12.0 Percent; Adjusted Diluted EPS of $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  Delivers 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  Third-Quarter Global Net Revenues from the Immunology Portfolio Were $7.046 Billion, an Increase of 3.9 Per ...