Skyrizi and Rinvoq Drive Immunology Growth
Skyrizi net revenues increased 24% on a constant currency basis for the quarter, while Rinvoq grew 24%, both driven by strong market share gains and market expansion across indications, more than offsetting Humira's 36% decline due to biosimilar erosion.
Contingent Consideration Adjustment Lifts Net Income
Net income surged 285% YoY partly because the fair value charge on contingent consideration liabilities decreased by $1.3 billion compared to the year-ago quarter, reflecting higher estimated Skyrizi sales and favorable pipeline developments.
Pipeline Advancements and Regulatory Milestones
AbbVie achieved several regulatory wins, including FDA approvals for Skyrizi in pediatric psoriasis, Venclexta combination for CLL, and Decnupaz for BPDCN, while also submitting applications for Rinvoq in vitiligo and alopecia areata.