Slide 1: AbbVie Reports Third-Quarter 2023 Financial Results
PRESS RELEASE AbbVie Reports Third-Quarter 2023 Financial Results • Reports Third-Quarter Diluted EPS of $1.00 on a GAAP Basis, a Decrease of 54.8 Percent; Adjusted Diluted EPS of $2.95, a Decrease of 19.4 Percent; These Results Include an Unfavorable Impact of $0.04 Per Share Related to Acquired IP
Slide 2: Third-Quarter Results
Third-Quarter Results • Worldwide net revenues were $13.927 billion, a decrease of 6.0 percent on a reported basis, or 5.8 percent on an operational basis. • Global net revenues from the immunology portfolio were $6.783 billion, a decrease of 11.3 percent. ◦ Global Humira net revenues of $3.547 bill
Slide 3: Recent Events
Recent Events • AbbVie announced that it submitted applications for a new indication to the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) for Skyrizi (risankizumab) for the treatment of adult patients with moderately to severely active ulcerative colitis (UC). The submi
Slide 4: Recent Events (Continued)
Recent Events (Continued) • AbbVie announced results from CANOVA, a Phase 3 study evaluating Venclexta (venetoclax) plus dexamethasone (VenDex) for patients with t(11;14)-positive r/r multiple myeloma (MM) who received two or more prior treatments. Data did not demonstrate that the treatment combina
Slide 5: Full-Year 2023 Outlook
Full-Year 2023 Outlook AbbVie is raising its adjusted diluted EPS guidance for the full year 2023 from $10.86 - $11.06 to $11.19 - $11.23, which includes an unfavorable impact of $0.27 per share related to acquired IPR&D and milestones expense incurred year-to-date through the third quarter 2023. Th
Slide 6: Forward-Looking Statements
Forward-Looking Statements Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional
Slide 7: Key Product Revenues Quarter Ended September 30, 2023
AbbVie Inc. Key Product Revenues Quarter Ended September 30, 2023 (Unaudited) % Change vs. 3Q22 Net Revenues (in millions) Reported Operationala U.S. Int’l. Total U.S. Int'l. Total Int'l. Total NET REVENUES $10,852 $3,075 $13,927 (7.7)% 0.8% (6.0)% 1.4% (5.8)% Immunology 5,696 1,087 6,783 (14.7) 12.
Slide 8: Key Product Revenues Nine Months Ended September 30, 2023
AbbVie Inc. Key Product Revenues Nine Months Ended September 30, 2023 (Unaudited) % Change vs. 9M22 Net Revenues (in millions) Reported Operationala U.S. Int’l. Total U.S. Int’l. Total Int’l. Total NET REVENUES $30,773 $9,244 $40,017 (8.2)% (1.8)% (6.8)% 1.6% (6.0)% Immunology 15,963 3,220 19,183 (1
Slide 9: Consolidated Statements of Earnings
AbbVie Inc. Consolidated Statements of Earnings (Unaudited) Third Quarter Nine Months (in millions, except per share data) Ended September 30 Ended September 30 2023 2022 2023 2022 Net revenues $ 13,927 $ 14,812 $ 40,017 $ 42,933 Cost of products sold 6,485 5,022 14,711 13,244 Selling, general and a
Slide 10: Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
AbbVie Inc. Reconciliation of GAAP Reported to Non-GAAP Adjusted Information (Unaudited) 1. Specified items impacted results as follows: Quarter Ended September 30, 2023 (in millions, except per share data) Earnings Diluted a Pre-tax After-tax EPS As reported (GAAP) $ 1,953 $ 1,778 $ 1.00 Adjusted f
Slide 11: Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
AbbVie Inc. Reconciliation of GAAP Reported to Non-GAAP Adjusted Information (Unaudited) 1. Specified items impacted results as follows: Quarter Ended September 30, 2022 (in millions, except per share data) Earnings Diluted a Pre-tax After-tax EPS As reported (GAAP) $ 4,400 $ 3,949 $ 2.21 Adjusted f
Slide 12: Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
AbbVie Inc. Reconciliation of GAAP Reported to Non-GAAP Adjusted Information (Unaudited) 1. Specified items impacted results as follows: Nine Months Ended September 30, 2023 (in millions, except per share data) Earnings Diluted Pre-tax After-taxa EPS As reported (GAAP) $ 5,038 $ 4,041 $ 2.26 Adjuste
Slide 13: Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
AbbVie Inc. Reconciliation of GAAP Reported to Non-GAAP Adjusted Information (Unaudited) 1. Specified items impacted results as follows: Nine Months Ended September 30, 2022 (in millions, except per share data) Earnings Diluted Pre-tax After-taxa EPS As reported (GAAP) $ 10,512 $ 9,363 $ 5.24 Adjust