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AbbVie Tops Q3 Expectations As Skyrizi, Rinvoq Drive Progress – AbbVie (NYSE:ABBV)

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On Wednesday, AbbVie Inc. ABBV reported third-quarter adjusted EPS of $3.00, up from $2.95 a 12 months in the past, beating the consensus of $2.92.

Internet revenues reached $14.46 billion, up 3.8%, beating the consensus of $14.28 billion. Gross sales have been up 4.9% on an operational foundation.

The immunology portfolio generated $7.05 billion in gross sales, up 3.9% on a reported foundation or 4.8% on an operational foundation.

  • Humira revenues have been $2.23 billion (down 37.2%), Skyrizi gross sales reached $3.21 billion (up 50.8%), and Rinvoq revenues have been $1.61 billion (up 45.3%). 

Additionally Learn: FDA Approves AbbVie’s Parkinson’s Therapy, Medicare Protection Anticipated Subsequent 12 months

Oncology product gross sales have been $1.69 billion, up 11.6% or 13.0% on an operational foundation.

  • Imbruvica revenues have been $828 million (down 8.8%), Venclexta gross sales elevated 14.8% to $677 million, and Elahere’s internet revenues have been $139 million.

Neuroscience revenues reached $2.36 billion, up 15.6% on a reported foundation or 16.0% on an operational foundation.

  • Botox Therapeutic gross sales have been $848 million, up 13.4%. Aesthetics portfolio gross sales reached $1.24 billion, down 0.1%. World Botox Beauty revenues have been $671 million, up 8.2%.

Dividend: AbbVie also elevated its quarterly money dividend from $1.55 per share to $1.64 per share, starting with the dividend payable on Feb. 14, 2025, to shareholders of file as of Jan. 15, 2025.

Monday, AbbVie agreed to accumulate Aliada Therapeutics for $1.4 billion in money.

Aliada is a biotechnology firm advancing therapies utilizing a novel blood-brain barrier-crossing know-how for the remedy of central nervous system ailments. Aliada’s lead investigational asset using this supply know-how, ALIA-1758, is in growth for Alzheimer’s illness.

Steerage: AbbVie raised its 2024 adjusted EPS steering to $10.90-$10.94 from prior steering of $10.67-$10.87 in comparison with consensus of $10.85, which incorporates an unfavorable impression of 64 cents per share associated to acquired IPR&D and milestones expense incurred year-to-date by the third quarter 2024.

In a convention name, AbbVie stated it expects Skyrizi gross sales of $11.5 billion and Rinvoq gross sales of $5.8 billion in 2024.

Value Motion: ABBV inventory is up 1.8% at $192.95 finally verify on Wednesday.

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Photograph: Formatoriginal/Shutterstock.com

Market Information and Knowledge dropped at you by Benzinga APIs

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