AbbVie Inc. (ABBV) shares traded near their all-time high Friday as the pharmaceutical company posteℱd better-th⛄an-expected results and raised its sales forecast for two of its key medicines.

AbbVie reported fourth-quarter profit of $2.79 per share, off 22.5% from the year-ago quarter. Revenue also fell, by 5.4% to $14.3 billion, but both results exceeded estimates. Revenue from its two key immunology drugs, Skyrizi and Rinvoq, soared 51.9% and 62.9%, respectively, for a total of $3.65 billion.

However, revenue was hurt by a 45.3% decline in U.S. sales of its i𒁃mmunosuppressive treatment, Humira, which was once t🍷he world’s biggest-selling drug. The company blamed the drop on copycat medicines, known as biosimilars, that recently have entered the market.

Chief Executive Officer (CEO) Richard Gonzalez said AbbVie is “well-positioned to fully abﷺsorb Humira erosion and achieve modest operational revenue growth” this year, with even stronger gains expected to come in𝄹 the future.

The company told analysts it anticipates 2027 sales of Skyrizi and Rinvoq will be $27 billion, about a $6 billion jump from its previous guidance. Executives explained that the new prediction was based on the growth seen in the two drugs' combined revenue, and that they are expected to bring in a combined $16 billion in sales this year. 

Sh♓ares of AbbVie were up 0.9% to $169.17 at about 2:40 p.m. ET, just a fed dollars away from its record high set in April of 2022.