CLAIM #2471 · AbbVie Inc (ABBV) · 2024Q3 earnings call · Oct 30, 2024 · due Dec 31, 2025
“But, as we look at 2025, we’re very confident in our ability to return to that robust mid-single-digit growth.”
Rob Michael · CEO
In context
“arlier returns on Elahere. Venclexta is performing exceptionally well. The guidelines changes in Europe are positive as we think about combination opportunities with BTK inhibitors. So, Venclexta is going to be strong, Epkinly is performing very nicely as well. And, then when I look across the neuroscience franchise, Vraylar is a strong grower. We’re very pleased with the migraine portfolio. Obviously, very excited about Cerevel and doing a number of deals now on the early pipeline both with Gedeon Richter and Aliada that really fortifies the long-term view for neuroscience as well. And, then with aesthetics, while it’s below our expectations for this year, obviously the economic conditions have dictated that. We still have tremendous confidence in the long-term outlook for that business. But, as we look at 2025, we’re very confident in our ability to return to that robust mid-single-digit growth. Jeffrey R. Stewart: Yes. Thanks, Rob. And, I’ll just add a little bit more flavor. It’s Jeff. So, we saw this trend start to emerge in terms of this compression of the, let’s say, the ADAM molecule or the ADAM market, the Humira plus biosimilars, just prior to the CVS event and then it accelerated over Q2. And again, we saw it throughout Q3. So, that’s why we’ve adapted our approach here. Other than this dynamic, the biosimilar dynamics are playing out really exactly as we anticipated. And you can see this compression in the IQVIA data. So, really the shrinking of the Humira or the ADAM market is something that’s quite clear. It’s a little difficult quantify over time with full precision, but we can see that the molecule continues to decline sequentially and we continue to see strong shar”
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SEC filings for ABBV ↗ · Claim quote is verbatim from the 2024Q3 earnings call.