abbvie annual report 2021

Specified items impacted results as follows: Change in fair value of contingent consideration. AbbVie Reports Full-Year and Fourth-Quarter 2022 Financial Results. Milestones and other R&D expenses include milestone payments for previously announced collaborations and the purchase of FDA priority review vouchers from third parties. 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 Allergan integration also continues to track exceptionally well, with both the neuroscience and aesthetics portfolios delivering double-digit sequential growth.

On a GAAP basis, selling, general and administrative expense was 22.7 percent of net revenues. WebTable 1: Annual Budget 1 The Program start is Q2 2020. 3. In the study, AGN-190584 met both its primary and key secondary efficacy endpoints with patients achieving near and intermediate vision gains with no loss of distance vision, a rapid onset of action, and sustained vision gains of up to six hours. No new safety risks were observed compared to the known safety profile of Rinvoq.

On a GAAP basis, selling, general and administrative expense was 21.9 percent of net revenues. AbbVie announced the FDA approved Skyrizi for the treatment of adults with active PsA.

AbbVie's management believes non-GAAP financial measures provide useful information to investors regarding AbbVie's results of operations and assist management, analysts, and investors in evaluating the performance of the business.

NORTH CHICAGO, Ill., March 13, 2023 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced it will present more than 20 abstracts, including one late AbbVie will host an investor conference call today at 8:00 a.m. Central time to discuss our fourth-quarter performance. The adjusted gross margin ratio was 83.6 percent.

The adjusted tax rate for the full-year 2021 was 12.5 percent, as detailed below: Acquisition and integration costs reflect transaction and financing costs, compensation expense and other integration costs as well as amortization of the acquisition date fair value step-up for inventory related to the Allergan acquisition.

3.

This marks the sixth BTD granted to Venclexta and a submission of a sNDA for Venclexta in higher-risk MDS is planned for later this year. Highlights included two Botox Cosmetic (OnabotulinumtoxinA) abstracts that were recognized as "Best of Cosmetic Oral Abstracts".

On a GAAP basis, research and development expense was 12.3 percent of net revenues.

View our social media channel guidelines , AbbVie.com | endobj For more information about AbbVie, please visit us at www.abbvie.com. This milestone marked the second FDA-approved indication for Rinvoq. /Type /XObject Annual Before engaging, please read and adhere to our established community guidelines for each channel. /CreationDate (D:20211231161244Z) Other primarily includes tax related items and COVID-19 related charitable contributions and expenses. Non-GAAP results adjust for certain non-cash items and for factors that are unusual or unpredictable, and exclude those costs, expenses, and other specified items presented in the reconciliation tables later in this release. 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. WebCash Flow AbbVie Inc. Quarterly Annual Net Operating Cash Flow 0 2B 4B 6B 8B Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Advertisement Overview Financials Stocks: Additional presentations showcased the importance of understanding patient preferences and patient-reported outcomes in IBD treatments. /Type /ExtGState AbbVie announced that it submitted applications to the FDA and EMA seeking approval for Skyrizi (150 mg) for the treatment of adults with active PsA. The adjusted tax rate for the fourth quarter of 2020 was 11.6 percent, as detailed below: Acquisition and integration costs reflect Allergan integration costs, Soliton acquisition costs as well as amortization of the acquisition date fair value step-up for inventory related to the Allergan acquisition partially offset by a recovery of certain Allergan acquisition-related regulatory fees. Refer to the Reconciliation of GAAP Reported to Non-GAAP Adjusted Information for further details. 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.

Allergan Aesthetics and Soliton announced a definitive agreement under which Allergan Aesthetics will acquire Soliton and Resonic, its Rapid Acoustic Pulse device which recently received FDA 510(k) clearance and is a non-invasive treatment for the improvement in the appearance of cellulite.

Title. _7qN{ 7?cViU1!y@3NVFo'/6AZCozz)U!YwauEb? /yW?v|+Co[H3]nd 7VevwaGn>W]b>px7[sNw&7V o&3_s62B[6)Ff7;p]um?=s|;n5,lOO;\*t&Z_. On a GAAP basis, the gross margin ratio in the second quarter was 67.6 percent.

AbbVie exercised its exclusive right to acquire TeneoOne and TNB-383B based on an interim analysis of an ongoing Phase 1 study in which results demonstrated an objective response rate (ORR) of 79 percent, very good partial response (VGPR) or better of 63 percent, and complete response (CR) of 29 percent at doses 40 mg in the dose escalation cohorts with a median follow-up time of 6.1 months. WebAnnual Reports Year in Review 2021 Annual Reports View the Report Download Report (Desktop) Download Report (Mobile) Previous Year in Review PDFs Year in Review 2020 Year in Review 2019 Year in Review 2018 Year in Review 2017 Year in Review 2016 Year in Review 2015 Year in Review 2014 Year in Review 2013 Year in Review 2012 Year in 1. The addition of Soliton and its technology complements Allergan Aesthetics' portfolio of non-invasive body contouring treatments to now include a proven treatment for the appearance of cellulite. Note: "Comparable Operational" comparisons include full-quarter current year and prior year results for Allergan, which was acquired on May 8, 2020, as if the acquisition closed on January 1, 2019, and are presented at constant currency rates and reflect comparative local currency net revenues at the prior year's foreign exchange rates.

Acquired IPR&D represents initial costs to acquire rights to in-process R&D projects through R&D collaborations, licensing arrangements or other asset acquisitions. The positive opinion is based on three global Phase 3 pivotal studies evaluating the safety and efficacy of Rinvoq used with or without topical corticosteroids (TCS) in adults and adolescents with moderate to severe AD. AbbVie Reports Third-Quarter 2022 Financial Results. 3. Net earnings (loss) attributable to AbbVie Inc. The adjusted tax rate was 12.6 percent. AbbVie announced that the U.S. Food and Drug Administration (FDA) approved Rinvoq for the treatment of moderate to severe atopic dermatitis (AD) in adults and children 12 years of age and older whose disease did not respond to previous treatment and is not well controlled with other pills or injections, including biologic medicines, or when use of other pills or injections is not recommended. 8 0 obj

Intrinsic Value. AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow.

The call will be webcast through AbbVie's Investor Relations website at investors.abbvie.com. Presentations included full results from the Phase 3 GEMINI 1 clinical study, evaluating the efficacy, safety and tolerability of investigational AGN-190584 (pilocarpine 1.25%) ophthalmic solution for the treatment of presbyopia. In the study, significantly more Rinvoq-treated patients achieved the primary endpoint of clinical remission (per Adapted Mayo Score) compared to patients on placebo (15 mg: 42 percent, 30 mg: 52 percent, placebo: 12 percent) at one year. AbbVie will host an investor conference call today at 8:00 a.m. Central time to discuss our fourth-quarter performance. Reported results were prepared in accordance with GAAP and include all revenue and expenses recognized during the period. The new muscles for treatment include additional muscles of the elbow and forearm, intrinsic hand muscles and thumb muscles.

Vuity is the first and only FDA-approved eye drop to treat this common and progressive eye condition that affects nearly half of the U.S. adult population. Allergan Aesthetics announced the successful completion of its acquisition of Soliton, Inc. Due to the GAAP net loss in the second quarter ended June 30, 2020, certain shares issuable under stock-based compensation plans that were dilutive on a non-GAAP basis were excluded from the computation of GAAP diluted EPS because the effect would have been antidilutive. AbbVie announced that the FDA granted a Breakthrough Therapy Designation (BTD) to Venclexta (venetoclax) in combination with azacitidine for the potential treatment of adult patients with previously untreated intermediate-, high- and very high-risk myelodysplastic syndromes (MDS).

Presentations included results from the Phase 3 ADVANCE clinical trial evaluating the safety and efficacy of atogepant in the preventive treatment of migraine as well as interim results on the real-world effectiveness of Ubrelvy (ubrogepant) for the acute treatment of migraine in combination with calcitonin gene-related peptide receptor (CGRP) monoclonal antibody (mAb) preventives, Botox (onabotulinumtoxinA) or both. We also welcome the opportunity to hear from you in these social channels, but remember we work in a highly-regulated industry with unique legal considerations. YOU ARE ABOUT TO LEAVE FOR A 3RD PARTY WEBSITE. AbbVie Inc. Reconciliation of GAAP Reported to Non-GAAP Adjusted Information. The "Yes" link below will take you out of the AbbVie family of websites.

For more information about AbbVie, please visit us at www.abbvie.com. 7) If you qualify, please, Adjusted weighted-average diluted shares outstanding, Global net revenues from the immunology portfolio were, Global net revenues from the hematologic oncology portfolio were, Global net revenues from the neuroscience portfolio were, Global Botox Therapeutic net revenues were, Global net revenues from the aesthetics portfolio were. Milestones and other R&D expenses include milestone payments for previously announced collaborations and the purchase of FDA priority review vouchers from third parties. Historically reported Allergan revenues also exclude Zenpep and Viokace product revenues, which were both divested as part of the acquisition, as well as specified items. The submission is supported by three pivotal Phase 3 studies in which Skyrizi demonstrated significant improvements in clinical remission and endoscopic response as both induction and maintenance therapy. Reconciliation of GAAP Reported to Non-GAAP Adjusted Information. |

The adjusted operating margin was 49.7 percent. AbbVie. * Represents product(s) acquired as part of the Allergan acquisition. /Height 790 Diluted earnings (loss) per share attributable to AbbVie Inc. Weighted-average diluted shares outstanding, Adjusted weighted-average diluted shares outstandinga.

The call will be webcast through AbbVie's Investor Relations website at investors.abbvie.com.

The information in the press releases on these pages was factually accurate on the date of publication. 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. Site map At the American Society of Cataract and Refractive Surgery (ASCRS) Annual Meeting, AbbVie presented new data from its leading portfolio of eye care medicines. 2017 Annual Report and Proxy Statement . Refer to the Reconciliation of GAAP Reported to Non-GAAP Adjusted Information for further details. Unless otherwise specified, all product names appearing in this Internet site are trademarks owned by or licensed to AbbVie Inc., its subsidiaries or affiliates. The adjusted tax rate for the full-year 2020 was 11.2 percent, as detailed below: Cision Distribution 888-776-0942 The impact of the specified items by line item was as follows: 3. AbbVie announced that the U.S. Food and Drug Administration (FDA) approved Rinvoq for the treatment of moderate to severe atopic dermatitis (AD) in adults and children 12 years of age and older whose disease did not respond to previous treatment and is not well controlled with other pills or injections, including biologic medicines, or when use of other pills or injections is not recommended. 2022 Proxy Statement 1.7 MB. - Reports Full-Year Diluted EPS of $6.45 on a GAAP Basis, an Increase of 137.1 Percent; Adjusted Diluted EPS of $12.70, an Increase of 20.3 Percent, - Delivers Full-Year Net Revenues of $56.197 Billion on a GAAP Basis, an Increase of 22.7 Percent; Adjusted Net Revenues Were $56.122 Billion, - Full-Year Global Net Revenues from the Immunology Portfolio Were $25.284 Billion, an Increase of 14.1 Percent on a Reported Basis, or 13.5 Percent on an Operational Basis; U.S. Humira Net Revenues Were $17.330 Billion, an Increase of 7.6 Percent; Internationally, Humira Net Revenues Were $3.364 Billion, a Decrease of 9.6 Percent on a Reported Basis, or 12.8 Percent on an Operational Basis, Due to Biosimilar Competition; Global Skyrizi Net Revenues Were $2.939 Billion; Global Rinvoq Net Revenues Were $1.651 Billion, - Full-Year Global Net Revenues from the Hematologic Oncology Portfolio Were $7.228 Billion, an Increase of 8.7 Percent on a Reported Basis, or 8.3 Percent on an Operational Basis; Global Imbruvica Net Revenues Were $5.408 Billion, an Increase of 1.8 Percent, with U.S. Net Revenues of $4.321 Billion and International Profit Sharing of $1.087 Billion; Global Venclexta Net Revenues Were $1.820 Billion, - Full-Year Global Net Revenues from the Neuroscience Portfolio Were $5.927 Billion; Global Botox Therapeutic Net Revenues Were $2.451 Billion; Vraylar Net Revenues Were $1.728 Billion, - Full-Year Global Net Revenues from the Aesthetics Portfolio Were $5.233 Billion; Global Botox Cosmetic Net Revenues Were $2.232 Billion, - Reports Fourth-Quarter Diluted EPS of $2.26 on a GAAP Basis, an Increase of Over 100.0 Percent; Adjusted Diluted EPS of $3.31, an Increase of 13.4 Percent, - Delivers Fourth-Quarter Net Revenues of $14.886 Billion, an Increase of 7.4 Percent on a GAAP Basis, - Provides 2022 GAAP Diluted EPS Guidance Range of $9.26 to $9.46; Provides 2022 Adjusted Diluted EPS Guidance Range of $14.00 to $14.20. This milestone marked the second FDA-approved indication for Skyrizi. On a GAAP basis, the tax rate in the quarter was 33.8 percent. 2016 Annual Report (521 KB) May 11, 2016 2015 Annual Report (1.3 MB) May 5, 2015. The adjusted R&D expense was 12.1 percent of net revenues, reflecting funding actions supporting all stages of our pipeline. All historically reported Allergan revenues have been recast to conform to AbbVie's revenue recognition accounting policies and reporting conventions for certain rebates and discounts.

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