艾伯维 2025年度报告

~57K 12 blockbuster productswith sales over$1B in 2025 employees in morethan 70 countries new product orindication approvalsin 2025 ~90* >75conditions treated $13.8B** active clinical anddevice programs in adjusted R&Dinvestment in 2025 >210K U.S. patients providedmedicine at no cost throughour patient assistanceprogram in 2025 Dear Shareholders, AbbVie is committed to transforming the standard of care for millions of patients around the world.In 2025, we demonstrated that our diverse portfolio, dedication to innovation and strong culture allowus to make a remarkable impact for our patients and deliver meaningful returns for our investors. Over thepast decade, AbbVie has generated a 485% total shareholder return and increased our marketcapitalization by $309 billion. We have an impressive track record of success, and this past year hasfurther reinforced the strength of our business. AbbVie had an outstanding year in 2025, delivering record total net revenues of $61.2 billion,reflecting operational sales growth of 8.5%.1We surpassed our previous peak revenue by more than$3 billion in just the second full year following the U.S. Humira loss of exclusivity. These results weredriven by strong execution across our growth platform, which continues to perform exceptionally well. Ourimmunology portfolio recorded $30.4 billion in net revenues with impressive performance from Skyriziand Rinvoq. Neuroscience generated net revenues of $10.8 billion and is our fastest growing therapeuticarea, putting us on track to be an industry leader in this space. Our oncology portfolio contributed$6.7 billion of net revenues, while aesthetics delivered $4.9 billion of net revenues. Advancing our pipeline is a top priority. We increased our adjusted R&D investment significantly in2025, to $13.8 billion,2fully funding approximately 90 clinical and device programs currently indevelopment.3We received several important approvals including Rinvoq for giant cell arteritis, Emrelisfor non-squamous, non-small cell lung cancer and Epkinly for second-line follicular lymphoma. Wealso bolstered our pipeline and entered new potential areas of growth with more than $5 billion in newbusiness development. This included a novel, next-generation psychedelic compound for majordepressive disorder, novel tri-specifics for multiple myeloma, an in-vivo CAR-T platform, a next-generation siRNA platform and a long-acting amylin analog for obesity. This excellent progress is backed by our strong culture and shared purpose. We have continuallyshown determination and an unwavering commitment in serving our patients, shareholders andcommunities. In 2025, AbbVie was once again recognized by Great Place to Work U.S. and Fortune,ranking #1 in the BioPharma industry. Through our employee impact programs, employees help advancethe AbbVie Foundation mission to drive transformative change in communities worldwide so thateveryone can live their healthiest life. Our employees make a real difference in people’s lives bygenerously giving their time, talent and resources. This past year, employees volunteered over 58,000hours and raised $25 million for charities around the world through donations matched by the AbbVieFoundation. Since our inception in 2013, AbbVie and the AbbVie Foundation have provided morethan $775 million to over 500 philanthropic partners. AbbVie is well-positioned to drive significant growth in 2026 and through the end of the decade,enabling us to deliver top-tier performance and elevate the standard of care for patients for years tocome. Thank you for supporting our important mission. Sincerely, Robert A. MichaelChairman of the Board and Chief Executive Officer A Message from AbbVie’s Lead Independent Director Dear AbbVie Shareholder, In my first full year as lead independent director, it has been a pleasure to work withAbbVie employees, shareholders, and other stakeholders as the company transitionedinto a new chapter of leadership and growth. On July 1, 2025, the board ushered in new board leadership by appointing RobMichael as chairman of the board of directors. Since his appointment as AbbVie’s chiefexecutive officer in July 2024, Rob has demonstrated exceptional leadership and strategicvision, providing the board with confidence in his ability to lead both the company andthe board. In addition to this leadership change, the board oversaw AbbVie’s growth in 2025.Over the past several years, a key priority for the board was to oversee the company’sbusiness diversification strategy for returning to growth after Humira’s loss of exclusivityin the U.S. in 2023 — the pharmaceutical industry’s largest patent cliff in history. The boardis extraordinarily pleased that AbbVie rapidly returned to growth in 2025, as anticipated.This remarkable achievement was due to thoughtful planning and exceptional execution inour ex-Humira platform, including key products in our Immunology, Neuroscience, andOncology portfolios. The board is also