AbbVie Inc. · Q2 2026 call

AbbVie delivered another excellent quarter. With results once again exceeding our expectations. I am especially pleased with the execution across our business. Including double digit sales growth from our diverse portfolio, the advancement of our compelling pipeline of innovative medicines, and our planned acquisition of Apogee Therapeutics. Which represents an exciting opportunity to bolster AbbVie's leading immunology portfolio.

This transaction is an excellent fit with our strategy to build and advance a compelling pipeline with new sources of growth to support AbbVie's performance in the 20 thirties and beyond. We have ample financial capacity for more business development. And remain focused on adding both early and late stage opportunities across our core disease areas.

I am very pleased with our performance in psoriasis where we continue to capture robust in play share of new and switching patients, at a rate which is impressively 4x higher than any other biologic or oral treatment in the U.S. We have achieved market share leadership now in more than 30 countries, and see substantial room for continued growth globally.

I am especially pleased with the momentum we see in gastroenterology. Where RINVOQ is on pace to deliver 30% global sales growth this year.

Total sales for Vialev were $256 million up more than 27% on a sequential basis. Vialev is well on track to achieve blockbuster sales this year. […] We continue to expect collective Parkinson's peak sales of more than $5 billion

The subcutaneous regimen demonstrated very high levels of endoscopic response and clinical remission. With rates on both measures 25 points higher than placebo in the overall population. and 45 points higher in patients who had not previously experienced advanced therapy.

Interim results for SKYRIZI plus anti alpha-4 beta-7 in Crohn's disease demonstrated a doubling of endoscopic remission at week 24 compared to either monotherapy.

We are updating our full year adjusted earnings per share guidance to between $13.87 and $14.07 This update reflects a $0.10 improvement in the outlook of our existing business. […] It also now includes $0.14 of anticipated dilution related to the planned Apogee acquisition that is more than offsetting our underlying overperformance.

We anticipate net revenues of approximately $17.2 billion, which includes an estimated 0.4% unfavorable impact from foreign exchange. We also forecast adjusted earnings per share between $3.84 and $3.88

We have secured interim financing and expect to issue long term debt in the coming months. We remain committed to achieving a net leverage ratio of 2 times within 2 to 3 years following the deal close.

we always viewed this as a market expanding, competitive launch, and that is exactly how we are seeing it. […] we are actually seeing an acceleration of NBRx growth for SKYRIZI since the launch of ICO just further supports our view that this is more of a market expanding opportunity.

SKYRIZI's composition of matter patent expires in 2033 as you noted, we do have later expiring IP granted and in process that embodies SKYRIZI's significant innovation. And this includes patents expiring in The US in the mid 20 thirties and later. Now it is important to note, though, that regulatory data protection for SKYRIZI does not expire until 2031, so we do not expect to see biosimilar application filings until the end of this decade.