AbbVie Confirms Guidance of Greater Than $15 Billion in Combined Risk-Adjusted Sales for Rinvoq and Skyrizi in 2025

Rhea-AI Summary

AbbVie confirms its revenue guidance for 2025, projecting combined risk-adjusted sales exceeding $15 billion from Rinvoq and Skyrizi. The forecast includes more than $7.5 billion in sales for each product. Adjustments were made due to lower sales expectations for Rinvoq in the U.S. after label updates, balanced by increased international sales and higher demand in Crohn's disease and ulcerative colitis, following positive Phase 3 study results. Skyrizi's growth is attributed to strong performance in psoriasis.

Positive

• Projected combined risk-adjusted sales exceeding $15 billion for Rinvoq and Skyrizi in 2025.
• Expected sales of more than $7.5 billion for both Rinvoq and Skyrizi.
• Positive Phase 3 study readouts for Crohn's disease and ulcerative colitis.

Negative

• Lower expected sales for Rinvoq in the U.S. following recent label updates.

NORTH CHICAGO, Ill., Jan. 11, 2022 /PRNewswire/ -- AbbVie (NYSE: ABBV) is confirming prior revenue guidance of greater than $15 billion in combined Rinvoq (upadacitinib) and Skyrizi (risankizumab) risk-adjusted sales in 2025. AbbVie now expects 2025 risk-adjusted sales of greater than $7.5 billion for Rinvoq and greater than $7.5 billion for Skyrizi. The new Rinvoq sales guidance is the result of lower expected Rinvoq sales in the U.S. following the recent label updates in approved indications, partially offset by higher anticipated sales in international markets, as well as higher anticipated global sales in Crohn's disease and ulcerative colitis following positive Phase 3 study readouts. The updated Skyrizi sales guidance is based on continued strong performance in psoriasis.

Forward-Looking Statements and Other Notices

Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the failure to realize the expected benefits of AbbVie's acquisition of Allergan or to effectively integrate Allergan's business, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2020 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

Rinvoq has not been approved by the U.S. Food and Drug Administration (FDA) for use in atopic dermatitis or ankylosing spondylitis and AbbVie's regulatory applications for these indications are currently under review. Rinvoq has not been approved by the FDA or European Medicines Agency (EMA) for use in ulcerative colitis, Crohn's disease, or non-radiographic axial spondyloarthritis. AbbVie's regulatory applications for Rinvoq in ulcerative colitis and non-radiographic axial spondyloarthritis are currently under review by the FDA and EMA. Skyrizi has not been approved by the FDA for use in psoriatic arthritis and AbbVie's regulatory application for this indication is currently under review. Skyrizi has not been approved by the FDA or EMA for use in Crohn's disease or ulcerative colitis. AbbVie's regulatory applications for Skyrizi in Crohn's disease are currently under review by the FDA and EMA.

About AbbVie

AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.

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SOURCE AbbVie

FAQ

What is AbbVie's revenue guidance for 2025?

AbbVie projects combined risk-adjusted sales of over $15 billion from Rinvoq and Skyrizi in 2025.

How much is expected from Rinvoq and Skyrizi sales in 2025?

AbbVie expects more than $7.5 billion in sales from both Rinvoq and Skyrizi each in 2025.

What factors influenced the sales forecast for Rinvoq?

The sales forecast for Rinvoq was influenced by lower expected sales in the U.S. following recent label updates, despite higher anticipated sales in international markets.

What drove the updated sales guidance for Skyrizi?

The updated sales guidance for Skyrizi is based on its continued strong performance in psoriasis.

Are there any ongoing regulatory reviews for Rinvoq and Skyrizi?

Yes, regulatory applications for Rinvoq and Skyrizi in various indications are currently under review by the FDA and EMA.