AbbVie’s neuroscience portfolio now accounts for more than 17% of total revenues, underpinning a significant acceleration in top-line growth. In the third quarter, the company reported overall revenues of $15.78 billion, up 9.1% year-over-year, with neuroscience therapies contributing double-digit growth. Botox sales remain a stalwart performer, delivering high-single-digit percentage increases as cosmetic demand held steady globally. Vraylar, AbbVie’s antipsychotic treatment, posted year-over-year revenue growth in excess of 20%, while its recently launched migraine therapy exceeded quarterly expectations by securing rapid formulary placements in key U.S. markets. This diversification away from legacy products has improved the company’s revenue mix and driven a 5% expansion in its overall operating margin.

During the third quarter, Generali Asset Management SPA SGR trimmed its position in AbbVie by 7.3%, selling 6,172 shares and ending the period with 78,122 shares valued at $18.1 million. Contrastingly, Norges Bank initiated a new position in the second quarter valued at approximately $4.29 billion, reflecting growing confidence among sovereign wealth investors. Laurel Wealth Advisors dramatically increased its stake by 18,384%, acquiring over 5.6 million shares for a holding valued at $1.06 billion, while Assenagon Asset Management boosted its position by 551%, adding 3.67 million shares worth $804 million. Overall, institutional ownership stands at just over 70%, with Vanguard Group marking a modest 1.9% increase to nearly 177.3 million shares. These moves highlight divergent views on AbbVie’s mid-cycle growth prospects and its ability to offset biosimilar headwinds with innovation in specialty care.