Why did ABBV's earnings growth slow in Q3?

AbbVie's earnings growth slowed in Q3 due to several factors:

1. **Impact of Lost Patent Exclusivity**: The most significant factor contributing to the decline in earnings is the loss of patent exclusivity on Humira. This key drug, once the world's top-selling drug, saw its sales decline by 28.9% to $2.81 billion. The sales in the United States dropped by 31.6%, and the ex-U.S. market sales declined by 12.5%. The entry of generics into the market following the loss of exclusivity in the U.S. and Europe has significantly impacted Humira's sales.
2. **Costs Related to Recent Acquisitions**: The earnings decline was also due to costs associated with recent acquisitions and deals. These costs, although necessary for expanding the portfolio and securing future growth, can have an immediate impact on net income, causing it to appear as though growth has slowed.

In summary, the slowing of AbbVie's earnings growth in Q3 is primarily due to the decline in sales of Humira resulting from the loss of patent exclusivity and the associated costs of recent acquisitions.