AbbVie (NYSE: ABBV) has reported its first-quarter financial results for 2025, showcasing a robust start to the year with total net revenues reaching $13.343 billion, representing an 8.4% increase on a reported basis and a stronger 9.8% increase on an operational basis (at constant currency rates) compared to the previous year. This performance affirms AbbVie’s resilient business model amid evolving market dynamics and underscores its strategic focus on key therapeutic segments.
AbbVie’s immunology portfolio surged to $6.264 billion in net revenues, marking a remarkable 16.6% increase on a reported basis and an 18.1% rise operationally. Standout contributors were:
Skyrizi with $3.425 billion, soaring 70.5% reported and 72.0% operationally.
Rinvoq achieving $1.718 billion, up 57.2% reported and 59.7% operationally.
Despite a decline in Humira sales to $1.121 billion (down 50.6% reported), the innovation in the immunology pipeline has infused growth and expanded market presence.
The neuroscience portfolio attained $2.282 billion in global net revenues, a 16.1% increase reported and 17.0% operationally.
Botox Therapeutic revenues rose by 15.8% to $866 million.
Vraylar and migraine treatments like Ubrelvy and Qulipta also reported significant advancements.
Oncology revenues totaled $1.633 billion, reflecting a 5.8% increase on the reported basis.
Growth was driven by Venclexta (\(665 million, up 8.3%) and **Elahere** (\)179 million reported).
However, Imbruvica sales dipped by 11.9% to $738 million, indicating some portfolio-specific challenges.
The aesthetics portfolio experienced a decline to $1.102 billion, down 11.7% reported, influenced by reduced demand for Botox Cosmetic and Juvederm collections.
On a GAAP basis, AbbVie reported a gross margin of 70.0% in Q1 2025, with an adjusted gross margin of 84.1%, highlighting efficient cost management. The operating margin on a GAAP basis stood at 28.0%, while the adjusted operating margin improved to 42.3%, reflecting strong operational leverage.
Selling, General & Administrative expenses were 24.7% of net revenues, with research & development spending at 15.5%, underscoring AbbVie’s commitment to innovation.
Acquired IPR&D and milestone expenses accounted for 1.9% of net revenues.
Diluted earnings per share (EPS) on a GAAP basis were \(0.72, a 6.5% decrease from the previous year, whereas adjusted diluted EPS rose 6.5% to \)2.46. These figures included an unfavorable $0.13 per share impact related to IPR&D and milestones expenses.
AbbVie announced key regulatory and pipeline achievements, including European Commission marketing authorization for Rinvoq in treating giant cell arteritis, expanding its market indications in immunology.
The company presented positive final Phase 3 trial results for Elahere targeting folate receptor alpha-positive, platinum-resistant ovarian cancer, promising improved patient outcomes.
A new collaboration with Xilio Therapeutics aims to develop novel tumor-activated immunotherapies, enhancing AbbVie’s oncology capabilities.
Pipeline expansion also includes the FDA submission for trenibotulinumtoxin E, a novel botulinum neurotoxin with rapid onset, expected to strengthen its aesthetics portfolio.
Entry into obesity treatment with a licensing agreement for GUB014295 marks AbbVie’s strategic diversification.
AbbVie raised its 2025 adjusted diluted EPS guidance to a range of \(12.09 to \)12.29 (up from \(11.99 to \)12.19), factoring in a $0.13 per share drag from acquired IPR&D and milestones incurred in Q1. This upward revision reflects strong operational execution despite market uncertainties.
The net revenue growth of 8.4% to \(13.343 billion translates into increased operating earnings of \)3.733 billion in Q1, up from $2.798 billion in the prior year quarter. While net earnings on a GAAP basis decreased slightly by about 6%, operational improvements and pipeline growth position AbbVie advantageously for sustained earnings growth.
AbbVie’s Q1 2025 financial performance reinforces its position as a leader in the pharmaceutical sector, driven by robust growth in immunology and neuroscience, disciplined expense management, and strategic pipeline expansions. The company’s focus on innovation and diversified portfolio continues to buffer against specific product declines and industry challenges.
For investors and stakeholders, AbbVie’s raised guidance and positive trial outcomes signal strong potential for long-term value creation.
Explore the full 8-K report and detailed financial data here: AbbVie Q1 2025 8-K Report
Tags: AbbVie, Q1 2025 financials, Immunology growth, Pharmaceutical innovation, Oncology pipeline