Q4 2025 AbbVie Inc Earnings Call Transcript
Key Points
- AbbVie Inc (ABBV) delivered record net sales and exceeded financial commitments for 2025, with total net revenues of $61.2 billion, surpassing initial guidance by more than $2 billion.
- The company achieved full-year adjusted earnings per share of $10, which is $0.54 above the initial guidance midpoint.
- Skyrizi and Rinvoq combined sales exceeded $31 billion, already surpassing the 2027 long-term guidance by $0.5 billion.
- AbbVie Inc (ABBV) increased adjusted R&D expense by nearly $1 billion, fully funding 90 clinical programs currently in development.
- The company anticipates total sales growth of 9.5% in 2026, driven by strong performance in immunology and neuroscience segments.
- Humira global sales declined by 26.1% due to biosimilar competition, and further access decrease is expected throughout 2026.
- Imbruvica sales were down 20.8% due to continued competitive dynamics and are expected to face unfavorable IRA pricing impacts in 2026.
- Aesthetics segment faced economic headwinds, with Juvederm global sales down 10.8% on an operational basis.
- The company anticipates low single-digit pricing headwinds for Skyrizi and Rinvoq in 2026 and over the next few years.
- Botox was selected for Medicare negotiation, which could impact pricing dynamics, although the company planned conservatively for this scenario.
Good morning, and thank you for standing by. Welcome to the AbbVie Fourth Quarter 2025 Earnings Conference Call. (Operator Instructions) Today's call is also being recorded. If you have any objections, you may disconnect at this time.
I would now like to introduce Ms. Liz Shea, Senior Vice President, Investor Relations.
Good morning, and thanks for joining us. Also on the call with me today are Rob Michael, Chairman and Chief Executive Officer; Jeff Stewart, Executive Vice President, Chief Commercial Officer; Roopal Thakkar, Executive Vice President, Research and Development, Chief Scientific Officer; and Scott Reents, Executive Vice President, Chief Financial Officer.
Before we get started, I'll note that some statements we make today may be considered forward-looking statements based on our current expectations. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in
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