Abbvie Inc

Strong Financial Performance: AbbVie reported a full-year adjusted earnings per share (EPS) of $10.12, exceeding initial guidance by $0.49. Total net revenues reached $56.3 billion, demonstrating a 4.6% operational growth despite a $5 billion erosion from U.S. Humira sales.

Impressive Growth of Ex-Humira Portfolio: The ex-Humira platform showed remarkable growth, with full-year sales rising over 18%, and a fourth-quarter growth of 22%. Key drivers are expected to be Skyrizi and Rinvoq, anticipated to generate nearly $24 billion in combined sales by 2025 and exceed $31 billion by 2027 ($4 billion up from previous guidance).

Market Challenges for Aesthetics: Aesthetic sales saw a decline of 4.4% in Q4, primarily due to economic headwinds and competitive market dynamics. The Botox and Juvéderm product lines experienced a few points of market share erosion, though there are plans to recover share through reinstated loyalty programs.