Financial Data and Key Metrics Changes - AbbVie reported total net revenues of nearly $14.5 billion, reflecting robust growth of 5.6% on an operational basis, excluding a 1.3% unfavorable impact from foreign exchange [35] - Adjusted earnings per share were $2.65, which is $0.10 above the guidance midpoint [35] - The company raised its full-year adjusted earnings per share guidance by $0.10 to between $10.71 and $10.91 [36] Business Line Data and Key Metrics Changes - Immunology delivered total revenues of approximately $7 billion, with Skyrizi and Rinvoq contributing more than $4.1 billion in combined sales, reflecting operational growth of 50% [11][12] - Oncology total revenues were more than $1.6 billion, with Imbruvica global revenues at $833 million, down 8.2%, and Venclexta global sales at $637 million, up 15.8% [15] - Neuroscience total revenues were nearly $2.2 billion, up 15.2%, driven by double-digit growth of Vraylar, Ubrelvy, and Qulipta [16] Market Data and Key Metrics Changes - U.S. Humira sales were $2.8 billion, down 28.9% on an operational basis due to biosimilar competition [15] - Aesthetic sales in the U.S. were $863 million, increasing by 4.4%, driven by Botox Cosmetic and Juvederm growth [18] - International aesthetic sales were $527 million, roughly flat versus the prior year, impacted by declines in China [19] Company Strategy and Development Direction - AbbVie is focused on a diversified growth platform, with expectations of high single-digit compound growth through the end of the decade [8] - The company is actively investing in business development, executing nearly a dozen early-stage deals to drive growth in immunology, oncology, and neuroscience [10] - The pending acquisition of Cerevel is expected to enhance AbbVie's neuroscience pipeline [10][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business, raising guidance for the second time this year, driven by strong performance across the growth platform [11] - The company anticipates robust revenue growth despite headwinds from Medicare Part D redesign and continued Humira erosion [46] - Management noted that the erosion of Humira is expected to be less of a headwind in 2025 compared to 2024 [46] Other Important Information - AbbVie has received FDA approval for Skyrizi in ulcerative colitis, marking its second inflammatory bowel disease indication [22] - The company is advancing its pipeline with several regulatory and clinical milestones, including a Phase 3 study for lutikizumab in hidradenitis suppurativa [24] - AbbVie is committed to maintaining its market leadership in aesthetics, with new product launches planned [20][21] Q&A Session All Questions and Answers Question: Update on 2025 outlook regarding revenue and EPS growth - Management has not provided specific guidance for 2025 but indicated robust revenue growth despite headwinds from Medicare Part D and Humira erosion [44][46] Question: Price versus volume dynamics for Rinvoq and Skyrizi - Strong volume dynamics for Rinvoq and Skyrizi are attributed to consumer investments and market switching from Humira to these new mechanisms [50][51] Question: Commentary on Cerevel acquisition and potential divestments - No divestments are expected as the acquisition is progressing well, with substantial compliance certified to the FTC [60] Question: Business development priorities and balancing near-term earnings with long-term investments - The focus remains on early-stage assets that can drive growth in the next decade, with a clear line of sight to top-tier growth [64] Question: Market dynamics for aesthetics and pricing - Market growth is driven by patient demand and volume, with pricing dynamics expected to improve in the second half of the year [68]

For the quarter ended June 2024, AbbVie (ABBV) reported revenue of $14.46 billion, up 4.3% over the same period last year. EPS came in at $2.65, compared to $2.91 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $14.05 billion, representing a surprise of +2.96%. The company delivered an EPS surprise of +3.11%, with the consensus EPS estimate being $2.57.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they com ...

AbbVie (ABBV) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.57 per share. This compares to earnings of $2.91 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.11%. A quarter ago, it was expected that this drugmaker would post earnings of $2.26 per share when it actually produced earnings of $2.31, delivering a surprise of 2.21%.Over the last four quarters, the company has surpa ...

PALM BEACH, Fla., July 25, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The fibromyalgia treatment market has witnessed positive growth trends over the past few years. There is higher disease awareness due to growth in diagnosis rates and growing awareness and concern for this serious, debilitating condition. Moreover, rising healthcare expenditure and presence of favorable reimbursement policies are also contributing to the market expansion. New drugs in development having novel mechanisms of ...

The drug company has a famously strong dividend record -- and that looks set to continue.It was great while it lasted, but AbbVie's (ABBV 1.77%) most important cash cow -- rheumatoid arthritis treatment Humira -- has been out of patent exclusivity in the U.S. since last year. That's not the only change the drugmaker experienced in the past 18 months. AbbVie also replaced its leader as CEO Richard Gonzalez stepped down; Gonzalez had been at the helm since 2013.The pharmaceutical giant delivered excellent ret ...

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): July 3, 2024 ABBVIE INC. (Exact name of registrant as specified in its charter) Delaware 001-35565 32-0375147 (State or other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) _________________________ ...

Reports Second-Quarter Diluted EPS of $0.77 on a GAAP Basis, a Decrease of 32.5 Percent; Adjusted Diluted EPS of $2.65, a Decrease of 8.9 Percent; These Results Include an Unfavorable Impact of $0.52 Per Share Related to Acquired IPR&D and Milestones Expense  Delivers Second-Quarter Net Revenues of $14.462 Billion, an Increase of 4.3 Percent on a Reported Basis and 5.6 Percent on an Operational Basis  Second-Quarter Global Net Revenues from the Immunology Portfolio Were $6.971 Billion, an Increase of 2.3 Pe ...

Arguably, there’s never a bad time to consider trustworthy dividend stocks. By securing passive income, you can complement any returns you generate through speculation. Also, by having dividend-paying companies in your portfolio, you stand a better chance of ending up in positive territory. These factors may become even more critical at this present juncture.Over the weekend, President Joe Biden announced that he would no longer seek reelection. Instead, he will focus on finishing out his term. This massive ...

The second-quarter 2024 reporting cycle of the Medical sector is about to pick up pace this week. The sector mainly comprises pharma/biotech and medical device companies.The earnings season for the drug and biotech sector kicked off last week when bellwether Johnson & Johnson reported strong second-quarter results, beating estimates for earnings and sales.Swiss pharma giant Novartis AG also reported better-than-expected second-quarter results. Consequently, Novartis increased its operating income growth gui ...

AbbVie (ABBV) will report second-quarter earnings on Jul 25, before the opening bell. The Zacks Consensus Estimate for sales and earnings is pegged at $14.05 billion and $2.56 per share, respectively.Though the company’s earnings estimates have declined from $11.27 per share to $10.81 for 2024 in the past 60 days, they have increased from $12.08 to $12.13 for 2025 during the same period. Image Source: Zacks Investment ResearchEarnings Surprise HistoryAbbVie’s performance has been impressive, with its earnin ...