AbbVie Beats Expectations with Strong Immunology Drug Sales Despite Humira Drop

• Skyrizi sales reached $4.48 billion (up 30.9% year-over-year) and Rinvoq sales hit $2.12 billion (up 23.3%), both exceeding analyst estimates, while Humira sales plunged 38.6% to $688 million due to biosimilar competition
• AbbVie's neuroscience portfolio revenue surged 26% to $2.88 billion, with Botox Therapeutic crossing $1 billion in quarterly sales for the first time
• The company raised its full-year adjusted earnings forecast to $14.08-$14.28 per share and reported Q1 revenue of $15 billion versus estimates of $14.72 billion

AbbVie Beats Q1 Expectations on Strong Immunology Portfolio

Key Financial Results:

AbbVie reported first-quarter revenue of $15 billion, surpassing analyst estimates of $14.72 billion. Adjusted earnings reached $2.65 per share, beating expectations. The company raised its full-year adjusted earnings guidance to $14.08-$14.28 per share.

Product Performance:

*Newer Immunology Drugs (Strong Growth):*

• Skyrizi: Sales reached $4.48 billion, up 30.9% year-over-year, exceeding estimates of $4.41 billion
• Rinvoq: Generated $2.12 billion in sales, up 23.3%, beating forecasts of $2.04 billion
• AbbVie expects these two drugs to deliver over $27 billion in combined sales by 2027

*Humira (Continued Decline):*

• Global sales fell 38.6% to $688 million, slightly missing the $696.5 million estimate
• Decline attributed to U.S. patent exclusivity loss in 2023 and increased biosimilar competition

Other Highlights:

AbbVie's neuroscience portfolio posted standout performance with 26% revenue growth to $2.88 billion. Botox Therapeutic exceeded $1 billion in quarterly sales for the first time, surpassing expectations of $996.5 million.

Market Implications:

The results demonstrate AbbVie's successful transition strategy from Humira dependence to its next-generation immunology franchise. Strong momentum in Skyrizi and Rinvoq, coupled with neuroscience growth, validates the company's diversification efforts and supports its raised guidance.

In January, AbbVie secured a pricing agreement with the Trump administration on select medications, including Humira, providing tariff exemptions and protection from future pricing mandates.