Strong First Quarter Performance: AbbVie reported first-quarter adjusted earnings per share (EPS) of $2.46, exceeding guidance by $0.10, with total net revenues of over $13.3 billion reflecting a 9.8% operational growth (YoY), indicating robust business momentum across therapeutic areas, particularly in immunology, neuroscience, oncology, and anesthetics.
Raising Full-Year Guidance: The company increased its full-year adjusted EPS guidance by $0.10, now expecting $12.09 to $12.29. Total net revenues estimates were raised to approximately $59.7 billion, bolstered by solid growth for Skyrizi and Rinvoq, which are capturing significant market share in their respective indications.
Risks from Competition and Tariffs: AbbVie expressed concerns over the faster than expected erosion of Humira sales due to increased biosimilar competition, projecting $3.5 billion in US Humira revenues for the year, a reduction of $500 million. Also, potential sectoral tariffs could impact operational costs, although AbbVie has a strategic plan to mitigate these risks through inventory management and manufacturing efficiencies.