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.
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.
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By GlobalData
AbbVie 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.