AbbVie (ABBV) Company Report

AbbVie delivered full-year adjusted EPS of $10, beating its guidance midpoint by $0.54 (excluding IPR&D), and achieved record net revenues of $61.2 billion, up 8.6% and $2 billion above guidance despite Humira erosion.
In Q4 2025, AbbVie reported total net revenues of $16.6 billion, up 10% YoY, and adjusted EPS of $2.71, $0.08 above guidance; the ex-Humira growth platform rose 14.5%, with an adjusted gross margin of 83.6%.
For 2026, the company forecasts net revenues of ~$67 billion (+9.5%), adjusted EPS of $14.37–14.57, and expects immunology sales of $34.5 billion including Skyrizi at $21.5 billion and Rinvoq at $10.1 billion.
Immunology performance in Q4 included $8.6 billion in total revenues, with Skyrizi at $5 billion (+31.9%) and Rinvoq at $2.4 billion (+28.6%).

2 days ago

Transcript

AbbVie reports Q4 and FY 2025 results

ABBV

Earnings

Guidance Update

AbbVie delivered FY 2025 adjusted EPS of $10 and net revenues of $61.2 billion, up 8.6% yoy despite $16 billion of Humira erosion.
In Q4 2025, AbbVie achieved adjusted EPS of $2.71 and net revenues of $16.6 billion (+10% yoy; ex-Humira platform +14.5%).
For 2026, AbbVie guides net revenues of ~$67 billion (+9.5% yoy) and adjusted EPS of $14.37–$14.57.
Immunology franchises delivered Q4 revenues of $8.6 billion, with Skyrizi at $5 billion (+31.9%) and Rinvoq at $2.4 billion (+28.6%); full-year combined revenue reached $25.9 billion (+ > $8 billion yoy).
AbbVie advanced its pipeline with new approvals (Rinvoq for GCA, Emrelis, Epkinly), funded 90 clinical programs, and invested > $5 billion in business development in 2025.

2 days ago

Transcript

AbbVie reports Q4 2025 results

ABBV

Earnings

Guidance Update

New Projects/Investments

Record Q4 net revenues of $16.6 billion and adjusted EPS of $2.71, driving full-year net revenues of $61.2 billion and adjusted EPS of $10.00.
Skyrizi and Rinvoq combined delivered $25.9 billion in 2025, with Q4 sales of $5 billion and $2.4 billion respectively, while Humira sales declined 26.1% to $1.2 billion in the quarter.
For 2026, AbbVie guides ~$67 billion in revenues (9.5% growth) and adjusted EPS of $14.37–$14.57, including $34.5 billion in immunology and $12.5 billion in neuroscience sales.
Continued pipeline investment with $5 billion in business development in 2025 and a three-year US pricing agreement, alongside projected $18.5 billion free cash flow for 2026 to support dividends and BD.

2 days ago

Transcript

AbbVie reports Q4 and full-year 2025 results

ABBV

Earnings

Guidance Update

Revenue Acceleration/Inflection

AbbVie delivered FY 2025 net revenues of $61.160 billion, up 8.6% on a reported basis, and Q4 net revenues of $16.618 billion, up 10.0%.
GAAP FY 2025 diluted EPS was $2.36 and adjusted diluted EPS was $10.00, including an unfavorable $2.76 per share IPR&D charge; Q4 GAAP EPS was $1.02 and adjusted EPS was $2.71, with a $0.71 IPR&D impact.
Growth was driven by immunology and neuroscience: FY immunology revenues were $30.406 billion (+14.0%) and Q4 immunology revenues were $8.626 billion (+18.3%); FY neuroscience revenues were $10.767 billion (+19.6%) and Q4 neuroscience revenues were $2.961 billion (+17.9%).
AbbVie provided 2026 adjusted diluted EPS guidance of $14.37 to $14.57, excluding any IPR&D and milestone impacts.

3 days ago

8-K

AbbVie reports full-year and fourth-quarter 2025 results

ABBV

Earnings

Guidance Update

AbbVie delivered full-year net revenues of $61.160 B, up 8.6% year-over-year, and reported adjusted diluted EPS of $10.00, down 1.2%.
In the fourth quarter, net revenues were $16.618 B, a 10.0% increase, with adjusted diluted EPS of $2.71.
Full-year immunology revenues reached $30.406 B (+14.0%), driven by Skyrizi ($17.562 B) and Rinvoq ($8.304 B); neuroscience revenues were $10.767 B (+19.6%).
AbbVie provided 2026 adjusted diluted EPS guidance of $14.37–$14.57, excluding acquired IPR&D and milestones expense.

3 days ago

Press Release

AbbVie files Rinvoq vitiligo approval application

ABBV

Product Launch

AbbVie has submitted FDA and EMA applications to expand Rinvoq (upadacitinib) for adults and adolescents with non-segmental vitiligo, supported by Phase 3 Viti-Up trial data showing ≥50% total body and ≥75% facial repigmentation by week 48.
The filing, if approved, could make Rinvoq the first systemic JAK1-selective therapy for vitiligo, which accounts for 84% of vitiligo cases and represents a significant unmet need.
AbbVie projects Rinvoq revenue to top $11 billion in 2027, highlighting the indication’s potential to boost its multibillion-dollar franchise amid existing revenues of approximately $59.6 billion and margin pressures.

3 days ago

Morningstar

AbbVie submits FDA and EMA applications for upadacitinib in vitiligo

ABBV

Product Launch

AbbVie has filed regulatory applications with the FDA and EMA for upadacitinib 15 mg once daily to treat adult and adolescent non-segmental vitiligo, based on data from the Phase 3 Viti-Up studies.
In the Viti-Up trials (n=614), upadacitinib achieved the co-primary endpoints of T-VASI 50 and F-VASI 75 at week 48 versus placebo, demonstrating significant re-pigmentation.
If approved, upadacitinib would be the first systemic therapy for non-segmental vitiligo, addressing a major unmet need in disease stabilization and re-pigmentation.

4 days ago

Press Release

AbbVie report shows intensified differentiation in SLE pipeline

ABBV

US rheumatologists are shifting from broad enthusiasm to more selective, indication-driven expectations for late-stage SLE assets, concentrating interest on a narrower set of perceived leaders.
Gazyva (obinutuzumab), Rinvoq (upadacitinib), and ianalumab emerge as top late-stage contenders, with Gazyva’s recent lupus nephritis approval expected to reshape treatment pathways, notably in patients with renal involvement.
Physicians estimate that around 17–20% of moderate-to-severe SLE patients would be appropriate candidates for these leading therapies, reflecting a targeted deployment strategy.
Interest has moderated for other mid-to-late-stage assets—litifilimab and dapirolizumab pegol face safety and durability concerns, while cenerimod is viewed as a niche oral option.

Jan 20, 2026, 2:17 PM

Press Release

AbbVie announces Phase 3 EPCORE DLBCL-1 topline results

ABBV

Epcoritamab showed improved progression-free survival versus investigator’s choice chemoimmunotherapy in relapsed/refractory DLBCL (PFS HR 0.74 [95% CI 0.60–0.92]).
The study enrolled 483 patients ineligible for high-dose chemo and stem cell transplant, with benefits in complete response rate, duration of response, and time to next treatment.
No statistically significant overall survival benefit was observed (OS HR 0.96 [95% CI 0.77–1.20]).
AbbVie and Genmab will engage global regulators on next steps and present full data at future medical meetings.

Jan 16, 2026, 6:43 PM

Press Release

AbbVie outlines 2026 priorities and pipeline at J.P. Morgan Healthcare Conference

ABBV

Guidance Update

Product Launch

2026 priorities: focus on operational execution to sustain financial momentum and advance pipeline with expected approvals for Vyalev and Tavapadon, indication expansions for Rinvoq, Ubrelvy, Qulipta, and pivotal data for Lutikizumab and Itentamig.
Financial outlook: reaffirmed target of high single-digit CAGR through the decade; 2025 top-line grew ~8% with the growth platform expanding ~19%; EPS to outpace revenue via margin expansion and ~~15% R&D spend (~~$9 billion).
Immunology: maintain 2027 guidance of $31 billion combined sales for Skyrizi ($20 billion) and Rinvoq ($11 billion), driven by head-to-head trials, market share gains, and low single-digit pricing headwinds.
Neuroscience & oncology: neuroscience fastest growing segment aiming to be industry leader with Vyalev at ~$450 million in first full year and Tavapadon launch; oncology pipeline advancing ADCs Umbrellas and Teliso, with phase III start for SEZ6-targeting ADC and Itentamig monotherapy ORR readout.
Aesthetics: investing in consumer outreach to revitalize Botox and filler demand and preparing to launch Trinibot E (short-acting toxin) globally in H2 2026 to lower trial barriers and drive cash-pay growth.