US pharmaceutical company AbbVie (NYSE: ABBV) has announced its financial results for the third quarter ended September 30, 2024, with net revenues of USD 14.46 billion, marking a 4.9% increase year-on-year at constant exchange rates. The US market contributed USD 11.148 billion in sales, while the International Market (excluding the US) reached USD 3.312 billion, up 12.4%.
The immunology portfolio led the way with global net revenues of USD 7.046 billion, up 4.8% year-on-year. The neuroscience portfolio followed with global net revenues of USD 2.363 billion, up 16.0%. Oncology, Aesthetics, and Eye Care generated revenues of USD 1.687 billion (+13.0%), USD 1.239 billion (+1.8%), and USD 240 million (-11.2%) respectively.
In Immunology, Humira (adalimumab) faced generic competition, resulting in a 36.5% decrease to USD 2.227 billion in sales. In contrast, Skyrizi (risankizumab) and Rinvoq (upadacitinib) sales rose by 51.5% and 47.4% year-on-year to USD 3.205 billion and USD 1.614 billion respectively.
Oncology saw Imbruvica (ibrutinib) as the top seller with USD 828 million, down -8.8% year-on-year. Venclexta (venetoclax), FRα ADC product Elahere (mirvetuximab soravtansine), and CD3/CD20 bispecific antibody Epkinl (epcoritamab) brought in USD 677 million (+18.2%), USD 139 million, and USD 43 million respectively.
In Neuroscience, psychiatric drug Vraylar (cariprazine) and Botox reported sales of USD 875 million (+16.6%) and USD 848 million (+14.4%) respectively. AbbVie has also expanded its neuroscience presence with the recent acquisition of Aliada Therapeutics, obtaining ALIA-1758, an anti-pyroglutamate amyloid beta (3pE-Aβ) antibody for Alzheimer’s disease (AD) treatment.
For the first three quarters, AbbVie reported revenues of USD 41.232 billion, up 4.1% year-on-year, and improved its full-year guidance.- Flcube.com
