ABBVIE RAISES GUIDANCE, HIKES DIVIDEND 5.2%

AbbVie posted third-quarter adjusted EPS of $3.82, beating estimates of $3.74, as net revenue climbed 10.3% to $17.4 billion. Skyrizi and Rinvoq, the drugs built to replace Humira, grew revenue 23% and 24% respectively to a combined $8.48 billion, while Humira sales kept falling, down 31% to $683 million. AbbVie raised its full-year adjusted EPS guidance to $13.95-$13.99 from $13.76-$13.96 and lifted its quarterly dividend 5.2% to $1.82 per share. $ABBV is proving the post-Humira transition is complete.