On April 25, 2025, AbbVie Inc (ABBV, Financial) released its 8-K filing detailing the financial results for the first quarter ended March 31, 2025. AbbVie, a leading pharmaceutical company known for its strong presence in immunology and oncology, reported a notable increase in net revenues and adjusted earnings per share (EPS), exceeding analyst expectations.
Financial Performance Overview
AbbVie Inc (ABBV, Financial) reported first-quarter net revenues of $13.343 billion, marking an 8.4% increase on a reported basis and a 9.8% increase on an operational basis. This performance surpassed the estimated revenue of $12,922.77 million. The company's adjusted diluted EPS was $2.46, which is significantly higher than the estimated EPS of -0.01. However, the GAAP diluted EPS was $0.72, reflecting a 6.5% decrease from the previous year.
Key Revenue Drivers
The immunology portfolio was a major contributor to AbbVie's revenue growth, generating $6.264 billion, a 16.6% increase on a reported basis. Skyrizi and Rinvoq were standout performers, with Skyrizi's global net revenues reaching $3.425 billion, a 70.5% increase, and Rinvoq's revenues at $1.718 billion, a 57.2% increase. However, Humira's revenues declined by 50.6% to $1.121 billion.
The neuroscience portfolio also showed strong growth, with revenues of $2.282 billion, a 16.1% increase. Notable products included Vraylar, with revenues of $765 million, and Botox Therapeutic, which saw a 15.8% increase to $866 million.
Challenges and Strategic Adjustments
Despite the overall positive performance, AbbVie faced challenges in its aesthetics portfolio, which saw an 11.7% decline in revenues to $1.102 billion. This was primarily due to decreases in Botox Cosmetic and Juvederm revenues. The company is addressing these challenges through strategic investments and pipeline advancements.
AbbVie's first-quarter results were well ahead of our expectations and reflect an excellent start to the year," said Robert A. Michael, chief executive officer, AbbVie. "The fundamentals of our business are strong and we continue to bolster our outlook with pipeline advancements and strategic investments."
Financial Metrics and Achievements
AbbVie's gross margin on a GAAP basis was 70.0%, with an adjusted gross margin of 84.1%. The operating margin was 28.0% on a GAAP basis and 42.3% on an adjusted basis. The company's net interest expense was $627 million, and the adjusted tax rate was 14.2%.
AbbVie raised its 2025 adjusted diluted EPS guidance range from $11.99 - $12.19 to $12.09 - $12.29, reflecting confidence in its strategic direction and operational strength.
Conclusion
AbbVie Inc (ABBV, Financial) demonstrated robust financial performance in the first quarter of 2025, driven by strong growth in its immunology and neuroscience portfolios. While challenges remain in the aesthetics segment, the company's strategic initiatives and pipeline advancements position it well for future growth. Investors and stakeholders will be keenly watching AbbVie's continued progress and its impact on the pharmaceutical industry.
Explore the complete 8-K earnings release (here) from AbbVie Inc for further details.
