U.S. COMPANY FILING
AbbVie Inc. — Form 10-K filed 2026-02-20
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AbbVie's 2025 net revenues reached $61.2B, up 9% YoY, with operating earnings of $15.1B, diluted EPS of $2.36, and operating cash flow of $19.0B. R&D expenses fell 29% to $9.1B due to lower impairments. Acquired IPR&D costs totaled $5.0B, including Capstan and Gilgamesh. Moody's upgraded credit rating to A2. Skyrizi and Rinvoq combined represent 42% of net revenues. Risks include patent challenges, Medicare pricing, and high debt.
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