AbbVie (NYSE:ABBV) FY Conference January 14, 2026 11:15 AM ET Company ParticipantsJeff Stewart - Chief Commercial OfficerScott Reents - CFORoopal Thakkar - EVPConference Call ParticipantsChris Schott - AnalystChris SchottGood morning, everybody. I'm Chris Schott at JPMorgan, and it's my pleasure to be hosting this Fireside Chat today with AbbVie. From the company, we have Scott Reents, CFO, Jeff Stewart, Chief Commercial Officer, and Roopal Thakkar, Chief Medical Officer. So, happy New Year, guys, and thank ...

Novo Nordisk CEO Maziar Mike Doustdar shakes hands with U.S. President Donald Trump during an event to announce a deal with Eli Lilly and Novo Nordisk to reduce the prices of GLP-1 weight‑loss drugs during an event in the Oval Office at the White House in Washington, D.C., U.S., November 6, 2025.A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.Good morning from San Francis ...

Core Insights - The collaboration between AbbVie and Rongchang Biopharma marks a significant shift in the global oncology treatment landscape, highlighting the trend of "Chinese innovation + global market" in drug development [1][2] Group 1: Collaboration Details - AbbVie and Rongchang Biopharma signed an exclusive licensing agreement for the development, production, and commercialization of RC148, a bispecific antibody targeting PD-1 and VEGF [1] - Rongchang Biopharma will receive an upfront payment of $650 million and is eligible for up to $4.95 billion in milestone payments, along with a tiered royalty on net sales outside Greater China [1][2] Group 2: Market Implications - The deal allows Rongchang Biopharma to accelerate clinical trials for RC148 in China and globally, while also supporting the development of other pipelines [2] - AbbVie aims to enhance its product portfolio in immuno-oncology, particularly in the emerging PD-1/VEGF bispecific antibody space, which could improve its competitiveness in solid tumor treatments [2] Group 3: Industry Trends - The PD-1/VEGF bispecific antibody represents a new class of cancer therapies that may overcome tumor resistance mechanisms by simultaneously blocking PD-1 and VEGF [3][5] - Chinese companies are leading in this field, with significant advancements and approvals, such as the launch of Ak112/Ivonescimab by Kangfang Biopharma, which is the first bispecific antibody combining tumor immunity and anti-angiogenesis mechanisms [3] Group 4: Broader Market Dynamics - The global interest in PD-1/VEGF bispecific antibodies is rising, with several Chinese firms successfully engaging in business development (BD) transactions, reflecting the increasing recognition of Chinese innovative drug assets by multinational pharmaceutical companies [6][7] - In 2025, the total value of Chinese innovative drug licensing transactions exceeded $130 billion, accounting for 49% of the global total, indicating a significant shift in the global pharmaceutical landscape [7][8] Group 5: Future Outlook - The increasing number of approved innovative drugs in China, along with the growing bargaining power of Chinese companies in licensing agreements, suggests a transition from a "follow" to a "lead" position in global pharmaceutical innovation [8][10] - The ability of Chinese companies to negotiate favorable terms in BD transactions is becoming crucial, emphasizing the importance of pipeline strength, data quality, and structured deal design [9][10]

肿瘤双抗治疗的战场再次传来重磅消息，一家中国创新药企与跨国巨头的牵手，不仅是单个药物的授权，更是全球肿瘤治疗格局加速演变的信 号。 1月12日，艾伯维（纽约证券交易所代码：ABBV）和荣昌生物宣布签署独家授权许可协议，共同开发、生产以及商业化RC148。RC148是一种 靶向程序性细胞死亡蛋白1（PD-1）和血管内皮生长因子（VEGF）的新型在研双特异性抗体，目前正由荣昌生物作为单药治疗及联合疗法， 针对多种晚期实体肿瘤进行开发。 根据协议，艾伯维将获得RC148在大中华区以外地区的独家开发、生产和商业化权利。荣昌生物将获得6.5亿美元的首付款，并有资格获得最 高达49.5亿美元的开发、监管和商业化里程碑付款，以及在大中华区以外地区净销售额的两位数分级特许权使用费。 有券商医药行业分析师对21世纪经济报道记者表示，从交易结构看，这是一次典型的"中国创新+全球市场"模式，荣昌生物通过RC148的海外 权益转让，不仅锁定了6.5亿美元首付款的现金流，还获得了最高可达49.5亿美元的里程碑收入，以及大中华区以外的销售分成。这笔交易对荣 昌生物的意义在于，充裕的资金可加速RC148在中国及全球的临床试验推进，并支持其 ...

Key Takeaways ABBV agreed to lower U.S. drug prices to match comparable developed markets under MFN terms.Under the pact, ABBV commits $100B over the next decade to boost U.S. R&D and manufacturing capacity.ABBV licensed RemeGen's PD-1xVEGF bispecific RC148 for up to $5.6B to expand its solid tumor pipeline.AbbVie (ABBV) announced that it has signed an agreement with the Trump administration to lower drug prices in the United States.Under the agreement, AbbVie has agreed to reduce the prices of its prescrip ...

每年1月，旧金山都会迎来被全球生物医药、医疗器械与医疗科技圈称为"一年中最重要的一周"—— 摩 根大通医疗健康周（JPM Healthcare Week，简称JPM Week）。 在2026年摩根大通医疗健康大会上，授权交易讨论与定价政策受关注。讨论焦点集中于授权交易而非大 型并购以及药品定价政策，可能对艾伯维（ABBV）、诺华（NVS）、Revolution Medicines（RVMD） 和Abivax（ABVX）产生影响。 责任编辑：张俊 SF065 每年1月，旧金山都会迎来被全球生物医药、医疗器械与医疗科技圈称为"一年中最重要的一周"—— 摩 根大通医疗健康周（JPM Healthcare Week，简称JPM Week）。 在2026年摩根大通医疗健康大会上，授权交易讨论与定价政策受关注。讨论焦点集中于授权交易而非大 型并购以及药品定价政策，可能对艾伯维（ABBV）、诺华（NVS）、Revolution Medicines（RVMD） 和Abivax（ABVX）产生影响。 责任编辑：张俊 SF065 ...

Key Takeaways AbbVie's oncology franchise is projected at $1.75B in Q4 2025 sales, nearly 4% year-over-year growth.ABBV's Venclexta, Epkinly and Elahere likely drove gains, partly offset by declining Imbruvica sales.Investor focus stays on AbbVie's immunology drugs Humira, Rinvoq and Skyrizi ahead of Q4 results.A meaningful portion of AbbVie’s (ABBV) revenues comes from its oncology franchise. Initially anchored by blood cancer drugs Imbruvica and Venclexta, the company has expanded its offerings into solid ...

Group 1 - The pharma company has agreed to cut some prices in exchange for an exemption from certain levies [1]

今日午后电网表现相对较好。国内方面，风光大基地建设带来新能源消纳需求，加上我国幅员辽阔，远 距离运输带来特高压建设需求，仍有望进一步拉动特高压电网建设需求。预计"十五五"期间特高压直流 有望保持年均3~4条核准节奏，特高压交流有望保持年均2个大型项目核准。海外方面，北美AIDC爆发 式增长形成的新增电力需求，国内电网产业链完整、交付效率领先、海外经验丰富，有望成为填补缺口 的主要供应方。感兴趣的投资者可关注电网ETF。 （风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供参 考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构成 投资建议或承诺。提及基金风险收益特征各不相同，敬请投资者仔细阅读基金法律文件，充分了解产品 要素、风险等级及收益分配原则，选择与自身风险承受能力匹配的产品，谨慎投资。） 今日医药板块领涨，主要原因为：（1）荣昌生物与艾伯维签署RC148独家授权许可协议，交易总额高 达56亿美元，再次验证PD-1/VEGF双抗赛道的巨大市场潜力。（2）CXO龙头药明康德发布2025年业绩 公告，预计全年实现营业收入454.56亿元 ...

港股创新药，可能又要热闹起来了。 今天，消息面最大的利好，来自荣昌生物（HK09995）。 荣昌生物昨晚公布了重量级利好：艾伯维（纽约证券交易所代码：ABBV）和荣昌生物宣布签署独家授权许可协议，共同开发、生产以及商业化RC148。 更值得注意的是，最近一周，中国创新药可谓"遍地开花"。据券商机构统计，短短几天时间就落地了5个BD项目。合作项目涵盖小分子抑制剂、单抗、双 抗、ADC和RDC等多个领域。除了荣昌生物外，宜联生物B7H3 ADC授权罗氏，获得5.7亿美元首付款及近期里程碑付款；海思科PDE3/4双重抑制剂与美国 AirNexis Therapeutics公司合作，获得1.08亿美元首付款，总包超10亿美元；中晟全肽RDC授权诺华，处于临床前；此外还有赛神医药Aβ抗体授权给诺华， 1.65亿美元预付款，16.65亿美元总包。 现在的问题是：港股创新药的热度到底有多高，能否重新回到去年上半年的"辉煌"？目前，如果要投资港股创新药板块，渠道还是比较丰富的：可以直接在 港交所"下场"买票，也可以通过"港股创新药"相关ETF来投资。去年，港股创新药ETF也是最快实现翻倍的跨境ETF。 不过，自2025年9月 ...