"AbbVie's Immunology Drug Sales Beat Expectations Despite Humira Decline"
TL;DR
AbbVie reported a decrease in full-year and fourth-quarter 2023 financial results, with diluted EPS and net revenues declining. The company announced definitive transaction agreements to acquire ImmunoGen and Cerevel Therapeutics, strengthening its oncology and neuroscience portfolios. AbbVie provided adjusted diluted EPS guidance for 2024 and reaffirmed expectations for high single-digit compound annual revenue growth rate through 2029, raising outlooks for certain product revenues. The company also announced positive clinical trial results for various therapies and a research collaboration with BigHat Biosciences.
Topics:businesscorporate-finance#abbvie#acquisitions#corporate-finance#financial-results#pharmaceuticals#revenue-growth
- AbbVie Reports Full-Year and Fourth-Quarter 2023 Financial Results AbbVie
- AbbVie Lifts Long-Term Outlook For New Immunology Drugs, Even As Q4 Revenue and Profit Fall Yahoo Finance
- AbbVie's fourth-quarter sales top estimates despite plunging Humira revenues MarketWatch
- AbbVie Posts Revenue Beat as Humira Sales Tumble. Other Immunology Drugs Are Selling. Barron's
- AbbVie Stock Rises On Long-Term Guidance, Calling For $27 Billion From Two Key Drugs Investor's Business Daily
Want the full story? Read the original reporting
Read on AbbVie