AbbVie Reports Strong Q4 and Full-Year 2024 Financials

US-based pharmaceutical giant AbbVie (NYSE: ABBV) has released its Q4 and full-year 2024 financial results, recording global net revenues of $15.102 billion (+5.6%) and $56.334 billion (+3.7%) respectively. Within these figures, the US market contributed $11.734 billion (+5.6%) and $43.029 billion (+2.7%) in net revenues during the fourth quarter and full year of 2024 respectively. The International market generated $3.368 billion (+5.6%) and $13.305 billion (+7.0%) in net revenues during the same periods.

Business Segment Performance

• Immunology: The immunological product portfolio generated $7.294 billion (+4.9%) in global net sales during Q4 2024. Humira (adalimumab) experienced a significant decline of 49.1% to $1.682 billion due to patent expiration and generic competition. In contrast, emerging brands Skyrizi (risankizumab) and Rinvoq (upadacitinib) saw strong growth, generating $3.778 billion (+57.7%) and $1.834 billion (+46.2%) respectively during the period.
• Oncology: The oncology product portfolio delivered a global net revenue of $1.691 billion (+12.0%) in Q4 2024, with a full-year net revenue of $6.555 billion (+10.8%). Key products included Imbruvica (ibrutinib), which achieved net revenues of $848 million and $3.347 billion in Q4 and full year of 2024 respectively, and Venclexta (venetoclax), which recorded sales of $655 million and $2.583 billion during the same periods. The folate receptor alpha (FRα)-directed antibody drug conjugate (ADC) medicine (mirvetuximab soravtansine) generated $148 million in Q4.
• Neuroscience and Aesthetics: The annual global net revenue of the neuroscience product portfolio was $8.999 billion (+16.6%), while the aesthetic product portfolio generated $5.176 billion (-2.2%). Botox contributed $3.283 billion for the full year, while beauty products achieved $2.72 billion in sales.

Future Outlook
AbbVie expects to deliver 2025 full-year adjusted diluted EPS in a range of $12.12 to $12.32. CEO Robert A. Michael noted that AbbVie will enter 2025 with strong momentum, with the net income of Humira expected to exceed its previous peak in the second full fiscal year after losing its patent protection in the United States.-Fineline Info & Tech