Company: ABBV
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001551152-25-000049
Chunk: 13

Company: AbbVie Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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 for the nine months ended September 30, 2025 primarily driven by decreased demand and unfavorable pricing in the United States as well as decreased collaboration revenues.

Net revenues for Venclexta increased 5% for the three months and 8% for the nine months ended September 30, 2025 primarily driven by increased demand, partially offset by unfavorable pricing.

Net revenues for Elahere increased 22% for the three months and 53% for the nine months ended September 30, 2025 primarily driven by increased demand. Net revenues for the nine months ended September 30, 2025 were also favorably impacted by a full period of Elahere results in 2025 compared to the prior year.

Net revenues for Botox Cosmetic decreased 5% for the three months and 7% for the nine months ended September 30, 2025. In the United States, Botox Cosmetic net revenues decreased 8% for the three months and 13% for the nine months ended September 30, 2025 primarily driven by unfavorable pricing due to consumer loyalty program changes, lower market share and decreased consumer demand, partially offset by the timing of customer inventory destocking in the prior year. Internationally, Botox Cosmetic net revenues increased 4% for the nine months ended September 30, 2025 primarily driven by increased consumer demand across certain international markets, partially offset by unfavorable pricing.

Net revenues for Juvederm Collection decreased 3% for the three months and 17% for the nine months ended September 30, 2025 primarily driven by decreased global consumer demand, partially offset by the timing of customer inventory destocking in the prior year. 

Gross Margin Three months endedSeptember 30,Nine months endedSeptember 30,(dollars in millions)20252024% change20252024% changeGross margin$10,472$10,2482 %$30,890$28,7248 %as a % of net revenues66 %71 %69 %70 %

Gross margin as a percentage of net revenues decreased for the three and nine months ended September 30, 2025 compared to the prior year primarily due to intangible asset impairment charges of $847 million and unfavorable changes in product mix, partially offset by increased leverage from net revenues growth and lower acquisition and integration costs. Gross margin as a percentage of net revenues for the nine months ended September 30, 2025 was also partially