AbbVie has posted net earnings attributable to the company of $17.78bn in the third quarter (Q3) of 2023, representing a significant drop of 55% from $39.49bn in the same quarter of 2022.
For the quarter ending 30 September 2023, the company reported diluted earnings per share (EPS) of $1 on a GAAP basis from $2.21 in Q3 2022, a 54.8% decline.
Go deeper with GlobalData
The company reported a 6% drop in worldwide net revenues on a reported basis to $13.92bn from $14.81bn in the same quarter of 2022.
The immunology portfolio of the company generated global net revenues of $6.78bn, a decline of 11.3% from the prior-year quarter.
Global net revenues of Humira stood at $3.54bn while Skyrizi generated $2.12bn.
The oncology, neuroscience and aesthetics portfolios generated global net revenues of $1.51bn, $2.04bn and $1.23bn respectively.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAbbVie chairman and CEO Richard Gonzalez stated: “We delivered another quarter of outstanding results driven by accelerating performance across our non-Humira growth platform, which is demonstrating double-digit growth.”
“Based upon the strength and momentum of our business, we are once again raising our full-year 2023 guidance as well as our floor EPS outlook for next year.
“We are also increasing our quarterly dividend, underscoring our confidence in AbbVie’s long-term outlook.”
In mid-October 2023, the company concluded the acquisition of discovery-stage biotechnology company Mitokinin for $655m to bolster its neuroscience pipeline.
