AbbVie Inc. (NYSE: ABBV) raised its full-year profit forecast after strong demand for its psoriasis treatment Skyrizi helped third-quarter sales surpass expectations, though shares declined more than 4% in intra-day trading on Friday.
The Illinois-based drugmaker increased its adjusted earnings guidance for 2025 to a range of $10.61 to $10.65 per share, up from its prior outlook of $10.38 to $10.58.
For the quarter ended in September, net revenue rose 9.1% year over year to $15.78 billion, fueled by robust sales of Skyrizi and its immunology drug Rinvoq. Adjusted earnings per share came in at $1.86, down from $4.86 a year earlier but above Bloomberg’s consensus estimate of $1.77.
Investors have been focused on Rinvoq after AbbVie said last month that it does not expect generic competition until 2037—four years later than many analysts had anticipated.
The company’s gains in immunology helped offset continued declines in Humira, the once top-selling arthritis treatment that has faced steep competition from lower-cost biosimilars in the U.S. since 2023. AbbVie has been expanding its immunology portfolio to cushion the impact.
Rinvoq generated $5.97 billion in revenue in 2024, accounting for roughly half of AbbVie’s total sales. The company expects Rinvoq and Skyrizi combined to contribute about $31 billion in revenue by 2027.
