AbbVie Raises 2024 Profit Outlook, Reports Strong Q1 Sales for Skyrizi and Rinvoq

Published: Apr 26, 2024 By Tyler Patchen

AbbVie_iStock, Michael Vi

Pictured: AbbVie office in San Francisco, California/iStock, Michael Vi

AbbVie on Friday beat Wall Street expectations in its first quarter of 2024, thanks in part to robust sales of its immunology drugs Rinvoq and Skyrizi, the company announced.

The company said it is raising its guidance for the full-year 2024 from $10.97 to $11.17 per share to $11.13 to $11.33 per share. AbbVie also reported net revenue of over $12.3 billion, a 0.7% increase from the first quarter of 2023.

Skyrizi’s worldwide revenue for Q1 was more than $2 billion, a 47% increase from the first quarter of last year and beating estimates of $1.94 billion. Rinvoq brought in $1.09 billion in global sales, a 59% increase from Q1 2023 and narrowly higher than expectations of $1.06 billion. 

AbbVie’s immunology sector overall pulled in…
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