Company: ABBV
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001551152-25-000040
Chunk: 12

Company: AbbVie Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 months and 6% for the six months ended June 30, 2025 primarily driven by increased consumer demand across certain international markets.

Net revenues for Juvederm Collection decreased 24% for the three months and 22% for the six months ended June 30, 2025 primarily driven by decreased global consumer demand.

Gross Margin Three months endedJune 30,Six months endedJune 30,(dollars in millions)20252024% change20252024% changeGross margin$11,077$10,2608 %$20,418$18,47611 %as a % of net revenues72 %71 %71 %69 %

Gross margin as a percentage of net revenues increased for the three and six months ended June 30, 2025 compared to the prior year primarily due to increased leverage from net revenues growth, lower amortization of intangibles and the favorable impact of acquisition and integration costs incurred during the six months ended June 30, 2024 in connection with the ImmunoGen acquisition partially offset by unfavorable changes in product mix.

Selling, General and AdministrativeThree months endedJune 30,Six months endedJune 30,(dollars in millions)20252024% change20252024% changeSelling, general and administrative $3,253$3,377(4)%$6,546$6,692(2)%as a % of net revenues21 %23 %23 %25 %

Selling, general and administrative (SG&A) expenses as a percentage of net revenues decreased for the three and six months ended June 30, 2025 compared to the prior year. SG&A expense as a percentage of net revenues for the three and six months ended June 30, 2025 was favorably impacted by leverage from revenue growth partially offset by increased restructuring charges. SG&A expense for the six months ended June 30, 2025 was also favorably impacted by acquisition and integration costs incurred during the six months ended June 30, 2024 in connection with the ImmunoGen acquisition.

Research and DevelopmentThree months endedJune 30,Six months endedJune 30,(dollars in millions)20252024% change20252024% changeResearch and development$2,131 $1,948 9 %$4,198$3,8878 %as a % of net revenues14 %13 %15 %