AbbVie's shares declined 2.5% following Q2 earnings despite beatings in revenue and EPS, reflecting investor caution likely tied to ongoing biosimilar erosion in HUMIRA and mixed segment performance that tempered enthusiasm.
- Adjusted EPS came in at $3.65, $0.06 above guidance midpoint, with total net revenues nearly $17 billion, beating expectations by $300 million.
- Immunology sales grew 14.6% operationally to $8.8 billion, driven by SKYRIZI’s 24% growth and RINVOQ’s 23.7% growth; however, HUMIRA sales declined 36.1% due to biosimilar competition.
- Pipeline progress included FDA approval of Decnapaz and multiple European approvals (QLIPTA, Epkinly, Bowie, RINVOQ in derm conditions) with raised peak sales expectations for new indications.
- AbbVie announced acquisition of Apogee Therapeutics to deepen immunology pipeline, signaling focus on sustaining long-term growth.
- Despite revenue and earnings beats, the stock’s negative reaction suggests investor concerns around biosimilar impact and potentially cautious outlook on margin pressures or growth sustainability.
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