AbbVie Inc. earnings call

… a transaction with Remagen, adding a novel PD-1 VEGF bispecific antibody to combine with our ADCs across multiple solid tumors, further strengthening AbbVie's oncology portfolio. Turning to 2026, we expect AbbVie to once again deliver top-tier performance. We anticipate total sales growth of 9.5%, reflecting another year of robust sales results, despite headwinds from continued Humira erosion and Imbruvica IRA pricing. The main drivers of this growth include SkyRizzy and Renvoke, with combined sales of more than $31 billion, already surpassing our 2027 long-term guidance by half a billion. We are also forecasting a substantial sales ramp for Vylev, achieving blockbuster status this year as a transformational treatment for Parkinson's. And we expect continued double-digit revenue growth from our leading migraine products, which are also trending significantly above our long-term expectations. Given the strong outlook of our diverse portfolio, we are well-positioned to deliver high single-digit revenue growth through 2029. Turning now to R&D, we anticipate a number of key catalysts across our core therapeutic areas over the next 24 months. In immunology, this includes …

… quarter, up approximately 33% on a sequential basis. The uptake is exceptionally strong across international markets, and we expect sales to ramp in the U.S., where Violev recently received full coverage. Feedback from prescribers and patients' communities remain very encouraging, highlighting meaningful improvements in on-time and off-time as a result of Violev's continuous 24-hour delivery and the control of symptoms morning, day, and night. Given these insights and the robust early launch trends globally, we now expect Vylev to achieve blockbuster revenue in 2026. And when you add Tevapidon for potential use as a monotherapy for early Parkinson's disease, as well as an adjunct to optimize oral therapy for more advanced patients, we believe we have the potential multibillion-dollar emerging PD franchise over the long term. and we remain on track for commercial approval of Tabapadon in the U.S. later this year. Moving now to oncology, where total revenues were nearly $1.7 billion in the quarter, down 2.5% on an operational basis. Venclefta global sales were $710 million, up 6.4% on an operational basis, reflecting continued strong demand in CLL, with combination use of …

And this is Rob. I'll just add, I mean, we saw the comments as well. It's hard for us to reconcile when you just compare the revenue in 2025 for QLIPTA and Ubrella combined is almost a billion dollars higher than the competitor. So it's difficult for us to reconcile the numbers that were being quoted. When I look at the performance of the oral migraine franchise and just the continuous share gains, We were talking about, you know, over a point every year and now delivering, you know, almost $3 billion this year, which was, again, the peak that we had previously communicated. Obviously, both brands have a long runway. And so, as I mentioned before, as we look at these brands, we would expect them to exceed $5 billion now. So just tremendous momentum. The profile of both drugs is very powerful, and the commercial execution has been very strong.

… rates, particularly in the bio-naive patients. And you can see this clinical profile playing out well when you consider our current market shares by line of therapy. Importantly, and despite in-class competition for most of 2025, Skyrizzy's capture rates remain exceptionally impressive, especially in that frontline treatment of IVD, which is the strongest signal of overall physician preference. And Skyrizzy remains the clear leader. Skyrizzy retains a very high IL-23 category patient share with an in-play capture rate of approximately 75% in the frontline setting overall for IBD. This is driven by an even higher frontline capture rate for Skyrizzy and Crohn's disease, which is roughly two-thirds of the total IBD market. And these capture rates have been strong and consistent even as the IL-23 category expands rapidly. Skyrizzy's dosing convenience is also favored, with less frequent maintenance treatment to the most effective dose for other IL-23s, which is very important as patients tend to be on therapy for many years. So, Skyrizzy continues to perform very well and will continue to do so in 2026 and beyond. Equally importantly, and unlike any other competitor, we have a …