Friday, AbbVie Inc ABBV reported first-quarter adjusted EPS of $2.31, down 6.1% Y/Y, beating the consensus of $2.23.
Internet revenues reached $12.31 billion, up 0.7%, beating the consensus of $11.92 billion. Gross sales had been up 1.6% on an operational foundation.
“First quarter outcomes had been nicely forward of our expectations, pushed by wonderful efficiency from our ex-Humira progress platform,” mentioned Robert Michael, president and chief working officer.
The immunology portfolio generated $5.37 billion in gross sales, down 3.9% on a reported foundation or 3.1% on an operational foundation, resulting from Humira biosimilar competitors.
Humira revenues had been $2.27 billion (down 35.9%), Skyrizi gross sales reached $2.01 billion (up 47.6%), and Rinvoq revenues had been $1.09 billion (up 59.3%).
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Final month, AbbVie agreed to amass Landos Biopharma Inc LABP for $20.42 per share, or roughly $137.5 million, plus one contingent worth proper per share with a price of as much as $11.14 per share, or roughly an extra $75 million.
Oncology product gross sales had been $1.54 billion, up 9% or 9.8% on an operational foundation.
Imbruvica revenues had been $838 million (down 4.5%), Venclexta gross sales elevated 14.2% to $614 million, and Elahere web revenues had been $64 million, reflecting a partial quarter of gross sales based mostly on February 12, 2024, shut date of the ImmunoGen acquisition.
Neuroscience revenues reached $1.97 billion, up 15.9% on a reported foundation or 16% on an operational foundation.
Botox Therapeutic gross sales had been $748 million, up 4.1%. Aesthetics portfolio gross sales reached $1.25 billion, down 4%. World Botox Beauty revenues had been $633 million, down 3.9%.
Steering: AbbVie raised its 2024 adjusted EPS steerage from $10.97-$11.17 to $11.13-$11.33, which incorporates an unfavorable impression of $0.08 per share associated to acquired IPR&D and milestones expense incurred through the first quarter of 2024, versus consensus of $11.12.
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Value Motion: ABBV shares are down 3.41% at $161.58 on the final test Friday.
Photograph through Firm
