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Skyrizi, Rinvoq sales expected to surpass $31 billion by

2027

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Humira sales decline 49% due to cheaper biosimilar

competitors

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AbbVie ( ABBV ) earns $2.16 per share in Q4, beats estimates

Jan 31 (Reuters) - AbbVie ( ABBV ) forecast 2025 profit

above estimates on Friday, as strong sales of its newer

immunology drugs Skyrizi and Rinvoq make up for a steep decline

in those of Humira, its flagship rheumatoid arthritis drug that

now faces stiff competition.

Quarterly sales of Humira declined 49% to $1.68 billion, a

steeper fall than the $1.99 billion analysts expected, according

to data compiled by LSEG.

Once the world's best-selling drug, Humira must now beat

competition from numerous less-expensive biosimilars that began

hitting the U.S. market in 2023.

AbbVie ( ABBV ) is pushing Skyrizi and Rinvoq to counter the drop in

Humira sales and said the two newer drugs would generate more

than $31 billion in 2027, up $4 billion from its previous

estimate.

The drugmaker forecast Skyrizi revenues of more than $20

billion and Rinvoq revenues of more than $11 billion in 2027.

"We are entering 2025 with significant momentum and expect

net revenues to exceed their previous peak in just the second

full year following the U.S. Humira loss of exclusivity," AbbVie ( ABBV )

CEO Robert Michael said in a statement.

Despite the competition, AbbVie ( ABBV ) has maintained Humira's

market share with industry middlemen, known as pharmacy benefit

managers, in the past year by reducing the drug's net price.

Pharmacy benefit managers, who negotiate volume discounts

and fees with drug manufacturers on behalf of employers and

health plans, have begun to remove Humira from their preferred

drugs lists for reimbursement.

AbbVie ( ABBV ) is also bolstering its pipeline of drugs through

acquisitions, especially in neuroscience, like its $8.7 billion

deal for Cerevel Therapeutics.

The company now expects annual adjusted profit of $12.12

to $12.32 per share, compared to analysts' average estimate of

$12.18 per share.

On an adjusted basis, AbbVie ( ABBV ) earned $2.16 per share in the

fourth quarter, compared with an estimate of $2.12.

(Reporting by Puyaan Singh and Christy Santhosh in Bengaluru)