AbbVie Reports Second-Quarter 2025 Financial Results

Core Insights - AbbVie reported strong financial results for the second quarter of 2025, with significant growth in its diversified growth platform and pipeline advancements, leading to an increased full-year outlook [2][4][10] Financial Performance - The company achieved second-quarter net revenues of $15.423 billion, reflecting a 6.6% increase on a reported basis and a 6.5% increase on an operational basis [4][5] - Diluted EPS on a GAAP basis was $0.52, a decrease of 32.5%, while adjusted diluted EPS was $2.97, an increase of 12.1% [4][21] - The gross margin for the second quarter was 71.8% on a GAAP basis and 84.4% on an adjusted basis [8] Revenue Breakdown by Portfolio - Immunology portfolio revenues were $7.631 billion, up 9.5% on a reported basis, with Skyrizi and Rinvoq showing significant growth of 62.2% and 41.8%, respectively [4][5][16] - Neuroscience portfolio revenues reached $2.683 billion, an increase of 24.2%, driven by Vraylar and Botox Therapeutic [4][5][16] - Oncology portfolio revenues were $1.676 billion, a modest increase of 2.6%, with Imbruvica experiencing a decline of 9.5% [4][5][16] - Aesthetics portfolio revenues decreased to $1.279 billion, down 8.1%, with Botox Cosmetic and Juvederm also showing declines [4][5][16] Pipeline Developments - AbbVie received FDA approval for Rinvoq as the first oral JAK inhibitor for giant cell arteritis, marking its ninth indication in the U.S. [8] - Positive results were reported from the Phase 3 UP-AA clinical program for Rinvoq in severe alopecia areata, achieving key endpoints [8] - The company announced the acquisition of Capstan Therapeutics, enhancing its capabilities in RNA delivery for cell engineering [8] - Emrelis received accelerated FDA approval for advanced non-small cell lung cancer, expanding AbbVie's oncology treatment options [9] Full-Year Guidance - AbbVie raised its adjusted diluted EPS guidance for 2025 from a range of $11.67 - $11.87 to $11.88 - $12.08, accounting for an unfavorable impact of $0.55 per share related to acquired IPR&D and milestones [10][4]