AbbVie reported strong fourth quarter and full-year 2023 results, with revenues exceeding expectations and growth in the base business excluding Humira.
The company's growth platform, which includes Skyrizi, Rinvoq, Vraylar, Ubrelvy, and Qulipta, delivered double-digit sales growth in 2023 and is expected to continue driving growth in 2024.
AbbVie reaffirmed its long-term sales outlook, including a return to robust revenue growth in 2025 and a high single-digit CAGR through the end of the decade.
The company expects Skyrizi and Rinvoq to collectively exceed $27 billion in sales by 2027, reflecting increased revenue forecasts for both therapies.
AbbVie plans to prioritize investment in its pipeline, with several important R&D programs expected to provide updates and regulatory submissions throughout the year.
The proposed acquisitions of ImmunoGen and Cerevel are anticipated to strengthen AbbVie's oncology and neuroscience pipelines, respectively, providing additional sources of revenue growth.