Sector: Healthcare|Industry: Drug Manufacturers - General|Market Cap: $311.32B|Employees: 50K
AbbVie Inc. is a global, diversified research-based biopharmaceutical company that develops and markets advanced therapies for serious diseases. Its core business model centers on the research, development, manufacturing, and commercialization of innovative medicines, generating revenue primarily through product sales. AbbVie holds leadership positions across immunology, oncology, aesthetics, neuroscience, and eye care, with a global presence.
Net revenues for the nine months ended September 30, 2024 were $41.232 billion, a 3% increase compared to the same period in 2023. However, this growth is significantly influenced by the acquisitions of ImmunoGen and Cerevel Therapeutics. Organic growth was more modest.
Diluted earnings per share attributable to AbbVie Inc. for the nine months ended September 30, 2024 were $2.41, up from $2.27 in 2023. However, this increase comes despite significant costs related to intangible asset amortization, changes in fair value of contingent consideration liabilities, acquisition and integration expenses, and litigation charges.
Operating earnings for the nine months ended September 30, 2024 were $10.627 billion, compared to $9.562 billion in the same period of 2023. This represents a moderate increase, but further analysis is needed to determine the drivers of this growth and the underlying profitability.