The company said that 2023 full-year net revenues were $54.318 billion, a decrease of 6.4% on a reported basis. Diluted EPS was $2.72 on a GAAP basis, down 59.0%, and $11.11 on an adjusted basis, down 19.3%.

1. 01

   The company said that 2023 full-year net revenues were $54.318 billion, a decrease of 6.4% on a reported basis. Diluted EPS was $2.72 on a GAAP basis, down 59.0%, and $11.11 on an adjusted basis, down 19.3%.

2. 02

   AbbVie said Humira net revenues for Q4 were $3.304 billion, a decrease of 40.8% on a reported basis. Skyrizi revenues were $2.394 billion, up 51.9%, and Rinvoq revenues were $1.255 billion, up 62.9%. The company cited Humira biosimilar competition as the factor behind the decline in the immunology portfolio.

3. 03

   The company said it signed definitive agreements to acquire ImmunoGen at a total equity value of about $10.1 billion and Cerevel Therapeutics at about $8.7 billion. It said it expects both acquisitions to close in the middle of 2024.

4. 04

   The company said its adjusted diluted EPS guidance for 2024 is $11.05 to $11.25. The guidance includes a dilutive impact of $0.32 per share from the two acquisitions and excludes acquired IPR&D and milestones expense. It also said it raised its outlook for combined Skyrizi and Rinvoq revenues in 2027 to more than $27 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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