Earnings roundup: AbbVie angst, a bifurcated vaccine market and Bristol Myers’ waiting game

AbbVie Financial Performance - AbbVie reported net revenue of $16.6 billion in Q4 2025, marking a 10% year-over-year increase, slightly exceeding analyst expectations, primarily driven by a strong performance from Humira [2][3] - Humira generated $1.2 billion in revenue during Q4, which was nearly 30% higher than Wall Street expectations, despite its overall decline due to generic competition [3] - For the full year 2025, AbbVie achieved net revenue of $61.2 billion, reflecting an 8.6% annual gain, with adjusted diluted earnings per share projected between $14.37 to $14.57 for 2026 [5] Product Performance Insights - Most of AbbVie's products met analyst estimates, except for Rinvoq, which fell short with quarterly revenue of nearly $2.4 billion, marking the second consecutive quarter of underperformance [3][4] - Skyrizi, another key product, had only a slight beat in performance, raising investor concerns about competition in the immunology market, particularly regarding Rinvoq and Skyrizi's prospects in the inflammatory bowel disease market [4] Market Challenges - The vaccine market is facing significant challenges due to a sudden shift in U.S. vaccine policy, increasing skepticism, and declining immunization rates, which threaten sales and future research in the sector [5]