AbbVie (NYSE:ABBV) delivered a robust full-year performance for 2025, proving that its strategy to replace the aging blockbuster Humira is ahead of schedule as its newer immunology and neuroscience portfolios hit record highs.
The North Chicago-based drugmaker reported Wednesday that full-year net revenues rose 8.6% to $61.16 billion.
The performance was anchored by the continued dominance of Skyrizi, which generated a staggering $17.56 billion for the year, and Rinvoq, which brought in $8.30 billion.
Together, the two therapies have successfully cushioned the impact of Humira’s decline, which saw its global revenue slide to $4.54 billion amid intense biosimilar competition.
On a GAAP basis, the company reported full-year diluted EPS of $2.36, heavily impacted by a $2.76 per-share headwind from acquired in-process R&D (IPR&D) and milestone payments related to its aggressive deal-making.
Stripping out these one-time costs, adjusted diluted EPS reached $10, meeting the high end of the company’s internal targets.
AbbVie's pipeline also saw significant milestones in 2025.
The company secured FDA approval for Epkinly in relapsed or refractory follicular lymphoma, marking the first-ever bispecific antibody combination therapy in the space.
Its neuroscience division also remained a major engine of growth, with full-year revenue for that segment jumping 19.6% to $10.77 billion, fueled by strong demand for Vraylar and migraine therapies Ubrelvy and Qulipta.
The company’s 2026 guidance suggests the "trough" year for the company is firmly in the rearview mirror.
AbbVie initiated adjusted diluted EPS guidance for 2026 in the range of $14.37 to $14.57.
This outlook excludes any future IPR&D impacts but represents a significant double-digit leap from 2025's adjusted results.