AbbVie(US:ABBV) Zhi Tong Cai Jing·2025-07-31 12:41Core Viewpoint - AbbVie (ABBV.US) reported better-than-expected Q2 results and raised its full-year earnings forecast, driven by newer immunology drugs offsetting the significant decline in sales of its blockbuster arthritis treatment Humira [1] Financial Performance - Q2 revenue reached $15.42 billion, a year-over-year increase of 6.6%, exceeding market expectations by $390 million [1] - Non-GAAP EPS was $2.97, surpassing market expectations by $0.06 [1] - Adjusted Q2 gross margin was 84.4%, and operating margin was 44.3% [1] Product Performance - Global immunology product net revenue was $7.631 billion, with reported baseline growth of 9.5% and operational baseline growth of 9.2% [1] - Humira's net revenue plummeted 58% year-over-year to $1.2 billion, while Skyrizi and Rinvoq generated $4.4 billion and $2 billion in revenue, respectively, with year-over-year growth of approximately 62% and 42% [1] - The neuroscience product portfolio achieved net revenue of $2.7 billion, a year-over-year increase of about 24% [1] - Sales of the leukemia treatment Imbruvica, developed in collaboration with Johnson & Johnson, declined by 10% year-over-year, but the oncology product portfolio's net revenue increased by $1.7 billion, reflecting a year-over-year growth of about 3% [1] Guidance Update - AbbVie raised its adjusted diluted EPS guidance for 2025 from the previous range of $11.67-$11.87 to $11.88-$12.08, with market consensus expectations at $11.98 [1]