AbbVie Reports Third-Quarter 2025 Financial Results

Core Insights - AbbVie reported strong financial results for Q3 2025, with net revenues of $15.776 billion, reflecting a 9.1% increase on a reported basis and 8.4% on an operational basis [3][4] - The company is raising its adjusted diluted EPS guidance for 2025 from a range of $10.38 - $10.58 to $10.61 - $10.65, despite an unfavorable impact of $2.05 per share related to acquired IPR&D and milestones expense [6][3] - AbbVie announced a 5.5% increase in its quarterly cash dividend, raising it from $1.64 to $1.73 per share, effective February 2026 [7] Financial Performance - Q3 2025 diluted EPS was $0.10 on a GAAP basis, a decrease of 88.6%, while adjusted diluted EPS was $1.86, down 38.0% [3][4] - Gross margin for Q3 was 66.4% on a GAAP basis and 83.9% adjusted [4] - Operating margin was reported at 12.1% on a GAAP basis and 30.9% adjusted [4] Revenue Breakdown - Immunology portfolio generated $7.885 billion in Q3, up 11.9% reported and 11.2% operationally; Skyrizi and Rinvoq saw significant growth [4][13] - Neuroscience portfolio revenues reached $2.841 billion, a 20.2% increase reported and 19.6% operationally [4][14] - Oncology portfolio revenues were $1.682 billion, showing a slight decrease of 0.3% reported and 1.3% operationally [4][14] - Aesthetics portfolio revenues totaled $1.193 billion, down 3.7% reported and 4.2% operationally [4][14] Product Highlights - Skyrizi net revenues were $4.708 billion, an increase of 46.8% reported [4][13] - Rinvoq net revenues reached $2.184 billion, up 35.3% reported [4][13] - Humira net revenues fell to $993 million, a decrease of 55.4% reported [4][14] Pipeline and Innovation - AbbVie received FDA approval for Rinvoq's updated indication for ulcerative colitis and Crohn's disease, allowing its use before TNF blockers [5] - Positive results were reported for Rinvoq in treating severe alopecia areata and non-segmental vitiligo [5] - AbbVie completed the acquisition of Capstan Therapeutics, enhancing its pipeline in autoimmune diseases [5] Future Outlook - The company is committed to investing over $10 billion in U.S. capital to support innovation and expand manufacturing capabilities [5] - AbbVie plans to launch Elahere in the U.K. at a price equal to that in the U.S., reflecting its commitment to value recognition [5]