Free Trial

AbbVie (ABBV: A3/A-): 2Q24 Results

HEALTHCARE
  • Good numbers. Raising guidance for EPS by 1%.
  • Revenue $14,462m up 4% y-o-y and 3% ahead of expectations
  • Humira (19.5% of sales) was flat and has been losing market share to biosimilars
  • Other drugs making up the shortfall which bodes well for the future
  • Oncology (+10.5%) and Neuroscience (+14.7%)
  • Skyrizi gains traction with regulatory approval
  • Adj Gross margin remains a healthy 85%
  • Issued several bonds in Feb 24 ($15bn to pay for Immunogen & Cerevel) but still has $10.45bn maturing in next 12 months.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.