AbbVie Inc. (NYSE:ABBV) announced its second-quarter results, with adjusted EPS at $2.65, surpassing the consensus of $2.57. Net revenues stood at $14.46 billion, exceeding the expected $14.03 billion. Sales saw an increase of 5.6% on an operational basis.
The immunology portfolio recorded $6.97 billion in sales, with notable contributions from Humira, Skyrizi, and Rinvoq. Oncology product sales reached $1.63 billion, led by Imbruvica, Venclexta, and Elahere. Neuroscience revenues were at $2.16 billion, with strong performances from Botox Therapeutic and the aesthetics portfolio.
Analysts praised AbbVie’s ability to navigate the loss of exclusivity for Humira, highlighting the company’s commercial prowess. The company raised its 2024 adjusted EPS guidance and announced the discontinuation of the Alzheimer’s drug, ABBV-916.
Despite the positive results, ABBV stock experienced a 5.14% decline to $185.26. For more stock analysis, check out Benzinga Pro.
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