AbbVie forecasts 2026 profit above estimates on strong sales of newer immunology drugs

Feb 4 (Reuters) - AbbVie forecast 2026 nett supra Wall Street estimates connected Wednesday aft posting a fourth-quarter results beat, fueled by beardown ​demand for newer immunology drugs Skyrizi and Rinvoq and a smaller-than-expected ‌decline successful income of its older medicine Humira.

The drugmaker has been relying connected Skyrizi and Rinvoq ‌to antagonistic a driblet successful Humira sales, which person been facing contention from cheaper biosimilars, oregon adjacent copies of a biologic drug. Humira was erstwhile the world's top-selling drug, with highest planetary income of much than $21 cardinal successful 2022 earlier ⁠it mislaid patent exclusivity successful ‌the U.S.

Since then, the institution has besides spent much than $20 cardinal connected acquisitions, and plans to walk different $10 cardinal implicit ‍the adjacent decade, including gathering 4 caller manufacturing plants successful the U.S.

AbbVie expects adjusted yearly nett per stock of betwixt $14.37 and $14.57, higher than analysts' mean estimation of $14.24, according ​to information compiled by LSEG.

It besides posted better-than-expected fourth-quarter nett and gross ‌on Skyrizi and Rinvoq demand, and a astonishment bushed for Humira for the archetypal clip successful astir 2 years.

Skyrizi recorded income of $5.01 billion, increasing 32.5%, and beating Wall Street estimates of $4.82 billion, and portion Rinvoq income grew 29.5% to $2.37 cardinal they missed estimates of $2.41 billion.

Global income of Humira fell 25.9% to $1.25 ⁠billion successful the 4th quarter, but bushed ​estimates of $983.8 million.

Sales of Botox for cosmetic usage ​grew for the archetypal clip since the 3rd 4th of 2024, coming successful astatine $717 cardinal and up of estimates of $696.2 million. ‍Demand for the ⁠anti-wrinkle injection has been weighed down by lawsuit concerns astir the system and inflation, arsenic good arsenic contention from newer products from companies specified ⁠as Revance and Evolus.

The institution earned an adjusted quarterly nett of $2.71 per share, beating analysts' ‌average estimation of $2.65 per share.

(Reporting by Puyaan Singh and Christy Santhosh ‌in Bengaluru; Editing by Leroy Leo)