AbbVie Beats Third-Quarter Forecasts As Immunology Kingpin Grows 47%

Core Insights - AbbVie is experiencing significant growth in its immunology drugs, particularly Skyrizi and Rinvoq, which are offsetting declines from Humira and its aesthetics division [2][4][5] - The company reported third-quarter sales of $15.78 billion, exceeding expectations, with a notable operational growth of 8.4% [4] - AbbVie raised its full-year earnings guidance, now expecting adjusted earnings of $10.61 to $10.65 per share, which is above analyst projections [7] Financial Performance - Skyrizi generated $4.71 billion in sales, a 47% increase, while Rinvoq sales reached $2.18 billion, growing 35% [2] - Overall sales for AbbVie grew more than 9% year-over-year, surpassing the expected $15.59 billion [4] - Adjusted earnings per share were reported at $1.86, despite a 38% decline due to a tax charge, still beating projections of $1.77 [4] Product Performance - Humira sales fell to $993 million, facing competition from lower-cost biosimilars [5] - Sales from Botox and Juvederm declined nearly 4% to $1.19 billion, missing expectations [5] - The neuroscience segment, which includes Botox, saw a 20% increase in sales to $2.84 billion, exceeding forecasts [6] Future Outlook - Analysts are optimistic about the long-term growth potential from AbbVie's Parkinson's disease franchise and late-stage antibody drug conjugates [8] - AbbVie stock is currently finding support near its 21-day moving average, indicating potential stability [8]