AbbVie Reported Full-Year and Fourth-Quarter 2021 Earnings

Feb 2, 2022 By MarketDepth

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AbbVie Inc. (NYSE: ABBV) announced financial results for the fourth quarter and full-year ended December 31, 2021. The pharmaceutical Company reported worldwide net revenues were $14.886 billion, an increase of 7.4 percent on a reported basis, or 7.5 percent on an operational basis.

New Revenues Up 13.2%

In addition, Global net revenues from the immunology portfolio were $6.746 billion, an increase of 13.2 percent on a reported basis, or 13.3 percent on an operational basis.

“We delivered another year of outstanding performance in 2021 with double-digit revenue and EPS growth that were well above our initial expectations. We are entering 2022 with significant momentum and expect our diverse set of growth assets, robust pipeline and excellent execution to deliver continued strong performance this year and over the long term.”

Richard A. Gonzalez, chairman and chief executive officer, AbbVie

The Company also highlighted recent events like the announcement that the U.S. Food and Drug Administration (FDA) approved Rinvoq for the treatment of moderate to severe atopic dermatitis (AD) in adults and children 12 years of age and older whose disease did not respond to previous treatment and is not well controlled with other pills or injections, including biologic medicines, or when use of other pills or injections is not recommended. The approval includes two dose strengths (15 mg and 30 mg, once daily) and is supported by efficacy and safety data from one of the largest registrational Phase 3 programs for AD with more than 2,500 patients evaluated across three studies. This milestone marked the third FDA-approved indication for Rinvoq.

FDA Approved

And AbbVie reported the FDA-approved Skyrizi in Q4 for the treatment of adults with active PsA. The approval is supported by two Phase 3 clinical studies where Skyrizi demonstrated significant improvement in joint symptoms, including swollen, tender and painful joints, compared to placebo. This milestone marked the second FDA-approved indication for Skyrizi.