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AbbVie 4Q Sales Down Due to Humira Competition

Global Humira sales were down 41% to $3.3 billion in the quarter.

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By: Kristin Brooks

Managing Editor, Contract Pharma

AbbVie
4Q Revenues: $14.3 billion (-5%) 
4Q Earnings: $824 million (earnings were $2.5 billion 4Q22)
FY Revenues: $54.3 billion (-6%)
FY Earnings: $4.9 billion (earnings were $11.8 billion FY22)
Comments: Global immunology portfolio revenues were down 12% in the quarter to $6.95 billion, due to Humira biosimilar competition. Global Humira sales were $3.3 billion, down 41%. Global Skyrizi revenues were $2.4 billion, up 52%. Global Rinvoq revenues were $1.3 billion, up 63%. Oncology portfolio sales were $1.5 billion, down 7%. Global Imbruvica revenues were $903 million, down 19%. Venclexta revenues were $589 million, up 14%. Neuroscience portfolio sales were $2.1 billion, up 23%. Global Botox Therapeutic sales were $776 million, up 7%. Global Vraylar revenues were $789 million, up 40%. Global Ubrelvy revenues were $234 million, up 19%. Qulipta sales were $114 million in the quarter. Aesthetics portfolio sales were $1.4 billion, up 6%. Botox Cosmetic sales were $718 million, up 12%. Juvederm sales were $334 million, up 3%.
 
M&A
In the quarter, AbbVie announced a definitive agreement to acquire ImmunoGen, and its flagship cancer therapy Elahere, a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC), for approximately $10.1 billion.  
 
AbbVie also announced a definitive agreement to acquire Cerevel Therapeutics and its neuroscience pipeline of clinical-stage and preclinical candidates with potential across psychiatric and neurological disorders, for approximately $8.7 billion.  

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