AbbVie backs high single-digit compound annual revenue growth through 2029

AbbVie (ABBV) is reaffirming its expectations for a high single-digit compound annual revenue growth rate through 2029. This guidance assumes 2024 as the base year in the compound annual growth rate calculation. AbbVie is raising its long-term outlook for Skyrizi and Rinvoq revenues. The company now expects combined Skyrizi and Rinvoq 2027 revenues of more than $31B, an increase of approximately $4B compared to previous guidance for combined revenues of more than $27B in 2027. This guidance assumes Skyrizi revenues of more than $20B and Rinvoq revenues of more than $11B in 2027. AbbVie is also updating its outlook for aesthetics revenues. The company now expects a high single-digit compound annual revenue growth rate for aesthetics through 2029. This guidance assumes 2025 as the base year in the compound annual growth rate calculation.