AbbVie's Q4 2024: Navigating Contradictions in SKYRIZI, Aesthetics Recovery, and Revenue Growth

These are the key contradictions discussed in AbbVie's latest 2024 Q4 earnings call, specifically including: SKYRIZI and RINVOQ dynamics, aesthetics market recovery expectations, revenue growth projections, SKYRIZI and RINVOQ pricing and volume dynamics, PART D redesign impact on volumes, aesthetics market dynamics and patient behavior, and HUMIRA erosion and contracting strategy:



Strong Performance of Immunology Platform:
- AbbVie's immunology segment reported total revenues of $7.3 billion, exceeding expectations, with Skyrizi achieving nearly $3.8 billion and Rinvoq approximately $1.8 billion in sales.
- The growth was driven by strong performance across all approved indications, particularly in psoriasis and IBD, with Skyrizi capturing a 40% in-play market share in biologics.

Neuroscience Segment Growth:
- The neuroscience segment achieved total revenues of $9 billion, reflecting a 19.9% operational growth.
- Growth was attributed to continued double-digit growth of VYALEV, BOTOX Therapeutic, and Ubrelvy, with emerging contributions from new launches like VYALEV, which saw high interest from physicians and patient communities.

Aesthetics Sales and Market Dynamics:
- Global aesthetics sales reached approximately $1.3 billion, reflecting a 4.4% operational decrease due to challenging market conditions, primarily in the U.S. and China.
- The decline was attributed to suppressed consumer spending due to high inflation and promotional dynamics impacting key assets.

R&D and Pipeline Advancements:
- AbbVie made significant progress with late-stage programs, including recent approvals and regulatory submissions, with notable advancements in clinical trial starts and R&D investments.
- These advancements were driven by a strong focus on advancing novel clinical programs across diverse therapeutic areas and strategic external collaborations to elevate the standard of care.