AbbVie Reports Strong Third Quarter Growth Driven by Skyrizi and Rinvoq
AbbVie (ABBV) reported third-quarter revenue of $17.4 billion, a 10.3% increase year-over-year, driven largely by the success of its immunology drugs Skyrizi and Rinvoq. These two products combined for nearly $8.5 billion in revenue, effectively offsetting the decline in sales from Humira following its loss of patent exclusivity. Adjusted earnings per share (EPS) reached $3.82, significantly outperforming the previous year's results. While the company provided a modest increase to its full-year revenue and EPS guidance, investors remain focused on the company's ability to maintain this growth trajectory. Additionally, AbbVie announced a 5.2% dividend increase, reinforcing its status as a 'Dividend King.'
Topics: earnings report immunology drugs pharmaceuticals revenue growth
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