AbbVie reported its full-year and fourth-quarter 2024 financial results, highlighting a 3.7% increase in total net revenues to $56.334 billion, with operational growth of 4.6%. The company’s adjusted diluted EPS for the year was $10.12, reflecting an 8.9% decline, partially impacted by acquired in-process research and development (IPR&D) and milestone expenses. Fourth-quarter net revenues rose 5.6% to $15.102 billion, with an adjusted diluted EPS of $2.16.

The immunology portfolio generated $26.682 billion in annual revenue, led by Skyrizi ($11.718 billion, up 50.9%) and Rinvoq ($5.971 billion, up 50.4%), while Humira’s revenue declined to $8.993 billion. The oncology portfolio saw a 10.8% growth to $6.555 billion, driven by Venclexta and the launch of Elahere. Neuroscience revenues increased 16.6% to $8.999 billion, with strong performances from Botox Therapeutic and Vraylar. The aesthetics portfolio declined 2.2% to $5.176 billion, impacted by lower Juvederm sales.

AbbVie reaffirmed its long-term outlook, projecting high single-digit annual revenue growth through 2029. The company raised its 2027 sales forecast for Skyrizi and Rinvoq to over $31 billion and expects its aesthetics division to achieve similar growth from 2025 through 2029. For 2025, AbbVie issued adjusted EPS guidance between $12.12 and $12.32, excluding IPR&D expenses.

Recent strategic moves include the European approval of Elahere, positive results for Parkinson’s treatment tavapadon, and multiple partnerships in oncology and neuroscience. However, the company recorded a $3.5 billion impairment charge related to the schizophrenia treatment emraclidine after its Phase 2 trials failed to meet expectations.

Despite challenges, AbbVie remains optimistic about its growth trajectory, supported by new product launches, strong demand in immunology and neuroscience, and ongoing investments in innovation.