The fourth quarter of 2024 was not without setbacks for AbbVie, which took a $3.5bn impairment against the value of its 2023 buyout of Cerevel after a Phase II failure in schizophrenia, but the pharma reported the expected strong growth for Skyrizi, Rinvoq, Venclexta and its neuroscience portfolio. Despite its overall optimism during its Q4 and full-year 2024 earnings call on 31 January, including an increased Skyrizi/Rinvoq peak sales estimate, AbbVie also raised its projection for the revenue impact of the Medicare Part D redesign this coming year.
Key Takeaways
- AbbVie reported quarterly sales growth that beat consensus, including continued upward momentum for Skyrizi and Rinvoq, for the fourth quarter.
- But despite strong financials and optimistic forecasts, AbbVie said it thinks redesign of Medicare Part D could cut into sales by about 4% this year
Earlier in January, Johnson & Johnson estimated that redesign of the Medicare prescription drug benefit would negatively impact its overall revenue in 2025 by about $2bn. Starting this year, Medicare will place a $2,000 cap on beneficiary out-of-pocket spending on prescription drugs. Another AbbVie peer,
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