"AbbVie posted record net sales with revenue up 10% year over year, powered by a post-Humira immunology rebuild that is now clearly working."
"Skyrizi generated $5 billion in Q4 revenue, up 32.5% year over year, making it AbbVie's largest product, while Rinvoq added $2.37 billion, up 29.5%."
"Pfizer's non-COVID portfolio grew 9% operationally in Q4, but Paxlovid collapsed 70% and Comirnaty dropped 33%, dragging Primary Care revenue down 11%."
"AbbVie has a strategic advantage with its post-Humira transition already executed, while Pfizer is still building toward a replacement for its COVID products."
AbbVie achieved record net sales with a 10% year-over-year revenue increase, primarily due to Skyrizi and Rinvoq, which offset Humira's decline. Skyrizi generated $5 billion in Q4, while Rinvoq contributed $2.37 billion. Pfizer experienced a slight revenue decline of 1.16%, impacted by a significant drop in COVID-related products. Despite a 9% growth in its non-COVID portfolio, Pfizer faced a GAAP net loss of $1.648 billion due to a non-cash impairment charge. AbbVie is expanding its product offerings and investing heavily in R&D.
Read at 24/7 Wall St.
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