AbbVie's Q3 2024 gross profit rebound can be attributed to several key factors:
- Strong Revenue Growth: AbbVie's total revenue for Q3 2024 was $14.46 billion, surpassing the estimated $14.277 billion12. This 3.8% increase year-over-year was driven by robust performance across its key business segments, particularly in the immunology and oncology portfolios2.
- Immunology Portfolio Performance: The immunology portfolio generated $7.046 billion in global net revenues, marking a significant 3.9% increase year-over-year2. Skyrizi and Rinvoq, key drugs in this segment, showed remarkable growth with revenue increases of 50.8% and 45.3%, respectively2.
- Oncology Portfolio Contribution: The oncology portfolio recorded $1.687 billion in global net revenues, reflecting an 11.6% increase year-over-year2. Venclexta, a key drug in this segment, experienced a 14.8% rise in revenues2.
- Neuroscience Portfolio Growth: The neuroscience portfolio achieved $2.363 billion in global net revenues, up 15.6% year-over-year2. Botox Therapeutic and Vraylar were instrumental in this segment's growth2.
In summary, AbbVie's Q3 2024 gross profit rebound is a result of strong revenue growth across its key business segments, particularly in immunology and oncology, and the continued success of key drugs within these segments.
3/30/2025 03:34am
