AbbVie full-year outlook disappoints, as Humira faces rivals in the USA

9 February 2023

Shares of US pharma major AbbVie (NYSE: ABBV) were up 4% at $150.57, after it announced financial results for the fourth quarter and full-year 2022 results, with profits ahead of expectations but 2023 forecast disappointed.

In the fourth-quarter, worldwide net revenues were $15.121 billion, an increase of 1.6% on a reported basis, or 3.8% on an operational basis. Diluted earnings per share (EPS) in the quarter were $1.38 on a generally accepted accounting principles (GAAP basis. Adjusted diluted EPS, excluding specified items, was $3.60. beating analysts' average estimates of $3.56 per share.

The company delivered full-year net revenues of $58.054 Billion, up 3.3% reported and 5.1% operational. Full-year diluted EPS was $6.63 on a GAAP Basis, an increase of 2.8%. Adjusted diluted EPS was $13.77, an increase of 16.4%. These results include an unfavorable impact of $0.39 per share related to 2022 acquired IPR&D and milestones expense.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK