AbbVie boosts profit view on resilient demand for newer immunology drugs

Core Insights - AbbVie raised its 2025 profit forecast due to strong sales of newer immunology drugs Skyrizi and Rinvoq, which helped boost third-quarter results above estimates [1][3] - The company is facing challenges in its aesthetics products portfolio, particularly with Botox, which saw a 3.7% decline in sales from the previous year [2] - Concerns regarding the economy and inflation are impacting customer spending, leading to lower growth expectations globally [3] Financial Performance - AbbVie now expects adjusted annual profit per share to be between $10.61 and $10.65, an increase from previous expectations of $10.38 to $10.58 [3] - The company reported quarterly sales of $15.78 billion, exceeding analysts' average estimate of $15.59 billion [3] - Quarterly profit per share was $1.86, surpassing estimates of $1.77 per share [5] Product Sales - Global sales of Humira, AbbVie's flagship arthritis treatment, were $993 million in the third quarter, falling short of estimates of $1.15 billion [4] - Skyrizi generated sales of $4.71 billion, exceeding estimates of $4.44 billion, while Rinvoq sales reached $2.18 billion, topping estimates of $2.12 billion [4]