Friday, AbbVie Inc (NYSE:ABBV) reported first-quarter adjusted EPS of $2.31, down 6.1% Y/Y, beating the consensus of $2.23. Net revenues reached $12.31 billion, up 0.7%, beating the consensus of $11.92 billion. Sales were up 1.6% on an operational basis. “First quarter results were well ahead of our expectations, driven by excellent performance from our ex-Humira growth platform,” said Robert Michael, president and chief operating officer. The immunology portfolio generated $5.37 billion in sales, down 3.9% on a reported basis or 3.1% on an operational basis, due to Humira biosimilar competition. Humira revenues were $2.27 billion (down 35.9%), Skyrizi sales reached ...