AbbVie completed the acquisitions of Cerevel Therapeutics and ImmunoGen in 2024, adding a range of potentially best-in-class assets in neuroscience and novel targeted therapies in oncology, respectively. These acquisitions are expected to contribute to long-term growth.

Skyrizi and Rinvoq revenues increased 51% and 53% respectively. This is due to continued strong market share uptake as well as market growth across all indications.

Global Humira sales decreased 37% in 2024, with a 41% decrease in the United States. This is primarily driven by direct biosimilar competition following loss of exclusivity on January 31, 2023.

AbbVie is focusing on maximizing revenue growth of key on-market products, including Skyrizi, Rinvoq, Venclexta, Elahere, Vraylar, Ubrelvy, Qulipta, Vyalev/Produodopa, Botox and Juvederm Collection.

AbbVie is advancing its research and development pipeline by delivering late-stage pipeline milestones, achieving key proof-of-concept objectives across therapeutic areas and continuing to invest in key on-market product indication expansion.

AbbVie is continuing to effectively manage the impact of Humira biosimilar erosion.

AbbVie relies on patent, trademark and other intellectual property protection in the discovery, development, manufacturing and sale of its products. As patents for certain of its products expire, AbbVie could face competition from lower priced generic or biosimilar products.

AbbVie is subject to increasing public and legislative pressure with respect to pharmaceutical pricing. In the United States, practices of managed care groups, and institutional and governmental purchasers, as well as federal laws and regulations related to Medicare and Medicaid, contribute to pricing pressures.

The successful discovery, development, manufacturing and sale of biologics is a long, expensive and uncertain process. There are unique risks and uncertainties with biologics.

AbbVie competes with other research-based pharmaceutical and biotechnology companies that research, develop, manufacture, market and sell proprietary pharmaceutical products and biologics.

Humira faces direct biosimilar competition globally, and AbbVie will continue to face competitive pressure from these biologics and from orally administered products.

New products and technological advances by AbbVie's competitors may negatively affect AbbVie's results of operations.

AbbVie continuously evaluates its operations to identify opportunities to optimize its manufacturing and R&D operations, commercial infrastructure and administrative costs.

The manufacture of many of AbbVie's products is a highly exacting and complex process, due in part to strict regulatory requirements.

AbbVie uses raw materials and components in its pharmaceutical and biologic manufacturing processes, including those sourced from single suppliers around the world.

AbbVie commits substantial effort, funds and other resources to research and development and must make ongoing substantial expenditures without any assurance that its efforts will be commercially successful.

AbbVie depends on alliances and joint ventures with pharmaceutical and biotechnology companies for a portion of the products in its near-term pharmaceutical pipeline.

AbbVie's innovations may not be accepted quickly in the marketplace because of existing clinical practices or uncertainty over third-party reimbursement.

Investing cash flows in 2024 included $18.5 billion cash consideration paid to acquire ImmunoGen and Cerevel Therapeutics offset by cash acquired of $952 million, net sales and maturities of investment securities of $482 million, payments made for other acquisitions and investments of $3.0 billion and capital expenditures of $974 million.

The company's financial performance in 2024 included delivering worldwide net revenues of $56.3 billion, operating earnings of $9.1 billion, diluted earnings per share of $2.39 and cash flows from operations of $18.8 billion. Worldwide net revenues increased by 4% on a reported and 5% on a constant currency basis.

Financing cash flows in 2024 included cash dividend payments of $11.0 billion in 2024 and $10.5 billion in 2023. The increase in cash dividend payments was primarily driven by an increase of the dividend rate.

AbbVie believes that its operations comply in all material respects with applicable laws and regulations concerning environmental protection.

AbbVie's capital expenditures for pollution control in 2024 were approximately $13 million and operating expenditures were approximately $35 million.

AbbVie employed approximately 55,000 employees in over 70 countries as of January 31, 2025. Outside the United States, some of AbbVie's employees are represented by unions or works councils.

AbbVie's business is subject to risks associated with doing business internationally, including in emerging markets.

AbbVie's products are subject to rigorous regulation by numerous international, supranational, federal and state authorities.

AbbVie is subject to increasing public and legislative pressure with respect to pharmaceutical pricing.