Q4 2024 AbbVie Inc Earnings Call Transcript
Key Points
- AbbVie Inc (ABBV) delivered full-year adjusted earnings per share of $10.12, exceeding initial guidance by $0.49.
- Total net revenues were $56.3 billion, surpassing initial guidance by more than $2 billion.
- The ex-HUMIRA platform showed strong performance with a 22% revenue growth in the fourth quarter.
- SKYRIZI and RINVOQ are expected to generate nearly $24 billion in revenue in 2025, with a projected increase to over $31 billion by 2027.
- The neuroscience segment is projected to achieve $10 billion in sales in 2025, reflecting growth across psychiatry, migraine, and Parkinson's treatments.
- Global sales of HUMIRA declined by 48.7% due to biosimilar competition, with further access reductions anticipated in 2025.
- The aesthetics segment experienced a 4.4% operational decrease in sales, impacted by challenging market conditions in the US and China.
- The Medicare Part D benefit redesign is expected to have a roughly 4% net unfavorable impact on AbbVie's portfolio in 2025.
- IMBRUVICA revenues declined by 6.2% due to competitive dynamics in chronic lymphocytic leukemia (CLL).
- The aesthetics market faces headwinds from economic conditions, with a cautious outlook for modest sales growth in 2025.
Good morning, and thank you for standing by. Welcome to the AbbVie fourth-quarter 2024 earnings conference call. (Operator Instructions) Today's call is also being recorded. If you have any objections, you may disconnect at this time.
I would now like to introduce Ms. Liz Shea, Senior Vice President of Investor Relations. Ma'am, you may begin.
Thank you. Good morning, and thanks for joining us. Also on the call with me today are Rob Michael, Chief Executive Officer; Jeff Stewart, Executive Vice President, Chief Commercial Officer; Roopal Thakkar, Executive Vice President, Research and Development, Chief Scientific Officer; Scott Reents, Executive Vice President, Chief Financial Officer; and Carrie Strom, Senior Vice President, AbbVie, and President, Global Allergan Aesthetics.
Before we get started, I'll note that some statements we make today may be considered forward-looking statements based on our current expectations. AbbVie cautions that these forward-looking statements are
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