While AbbVie (ABBV) raised its 2025 non-GAAP EPS guidance on Friday, it still falls short of the consensus figure.
Shares are down ~4% in morning trading.
The company now sees full-year EPS of $10.61-$10.65 from $10.38-$10.58 prior. Consensus is $10.86 consensus. The range reflects the negative impact of $2.05 a share due to acquired IPR&D and milestones expense.
In Q3, AbbVie beat on both lines, driven by strong year-over-year revenue increases in some of its key drugs, especially Skyrizi (risankizumab) and Rinvoq (upadacitinib).
Skyrizi sales surged ~47% to $~4.7B, while sales of Rinvoq rose ~35% to ~$2.2B.
AbbVie also saw 20% sales growth in its neuroscience portfolio to ~$2.8B, which includes Vraylar (cariprazine), Botox (onabotulinumtoxinA), Ubrelvy (ubrogepant), and Quilipta (atogepant). Vraylar revenue increased ~7% to ~$934M; Botox, ~16% to $985M; Ubrelvy, ~32% to $354M; and Quilipta ~64% to $288M.
Non-GAAP EPS in the quarter of $1.86 compares to $3.00 in the year-ago period. The results were negatively impacted by a $1.50 acquired IPR&D and milestones expense.
