AbbVie Inc. (NYSE:ABBV) Citi’s 2024 Global Healthcare Conference Call December 3, 2024 10:15 AM ET
Company Participants
Jeffrey Stewart – Executive Vice President and Chief Commercial Officer
Roopal Thakkar – Executive Vice President, R&D and Chief Scientific Officer
Scott Reents – Executive Vice President and Chief Financial Officer
Conference Call Participants
Geoff Meacham – Citigroup
Geoff Meacham
Morning sessions. I’m Geoff Meacham. I’m the senior biopharma analyst here at Citi. And this is our first Annual Global Healthcare Conference. So we’re thrilled to put it on. We’re excited to have with us on stage AbbVie. So we have CFO, Scott Reents; we have COO, Jeff Stewart; and we have CSO and Head of R&D, Roopal Thakkar. So thanks, guys, for coming. Appreciate the time.
So let’s talk a little bit about as we sort of head off the rest of the year, like how are you guys thinking about ’25 and the bigger events to look forward to and bigger picture on next year.
Jeffrey Stewart
Sure. So maybe, obviously, we’re — we’ve been very happy with the performance and momentum of the business this year in 2024. We’re looking forward to closing out on a continued positive note.
When you think about the execution, momentum of the business, every quarter, for the first 3 quarters, we beat expectations on the top line, the bottom line. When you look at that top line profile, we’ve raised cumulatively sales by $1.8 billion over the course of the year. And that’s really been driven by the growth platform. Our growth platform is our ex-HUMIRA business which accounts for more than 80% of our sales. And that has been performing extremely well, growing year-to-date on a high teens basis. In the third quarter, it grew 18% on a reported basis. So extremely strong momentum.
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