AbbVie Surpasses Q1 Expectations as New Immunology Drugs Offset Humira Decline
Chicago — AbbVie reported first-quarter results that exceeded Wall Street expectations, driven by strong demand for its newer immunology therapies Skyrizi and Rinvoq, as the company continues to transition beyond its former flagship drug Humira.
The drugmaker posted adjusted earnings of $2.65 per share, ahead of analyst estimates of $2.59, while shares rose about 2% in early trading.
Growth Led by Skyrizi and Rinvoq
AbbVie’s performance was underpinned by robust growth in its next-generation immunology portfolio:
- Skyrizi generated $4.48 billion in revenue, up 30.9% year over year and above expectations
- Rinvoq delivered $2.12 billion in sales, increasing 23.3% and also surpassing forecasts
The continued momentum of these therapies reflects AbbVie’s strategic shift toward newer, high-growth assets following the loss of U.S. patent exclusivity for Humira in 2023.
Humira Sales Continue to Decline
Humira, once the world’s top-selling drug, continues to face pressure from lower-cost biosimilars:
- Global sales declined 38.6% to $688 million in the quarter
- Performance came in slightly below market expectations
Despite this decline, the strength of AbbVie’s newer treatments is increasingly offsetting the impact on overall revenue.
Upgraded Full-Year Outlook
Reflecting confidence in its growth trajectory, AbbVie raised its full-year adjusted earnings guidance to a range of $14.08 to $14.28 per share, up from its previous forecast.
The updated outlook includes a $0.41 per share impact from acquisition-related research and development expenses recorded in the first quarter.
Strategic Focus on Innovation and Expansion
CEO Robert Michael reiterated the company’s commitment to strengthening its pipeline and expanding into high-growth therapeutic areas, including immunology, neuroscience, oncology, and obesity.
While AbbVie remains open to acquisitions, management emphasized that the company does not depend on large-scale deals to achieve its long-term growth objectives, instead prioritizing targeted innovation and disciplined investment.
