Group 1 - AbbVie has reached settlements with all generic drugmakers regarding litigation over Rinvoq, a significant product in its immunology portfolio [4] - The settlements resolve challenges posed by generic manufacturers planning to introduce copycat versions of Rinvoq [4] - This development is expected to protect AbbVie's market position and revenue from Rinvoq, which is crucial for its immunology franchise [4]

格隆汇9月11日｜据SEC文件披露，制药巨头艾伯维就瑞福(Rinvoq)专利诉讼与仿制药商达成和解。艾伯 维还称，乌帕替尼片在2037年4月前不会面临仿制药竞争。 ...

PresentationTerence FlynnEquity Analyst Great. Thanks for joining us, everybody. I'm Terence Flynn, Morgan Stanley's U.S. biopharma analyst. I'm very pleased to be hosting AbbVie this morning. Joining us from the company, we have the company's CEO, Rob Michael. We have Jeff Stewart, the company's Chief Commercial Officer; and Roopal Thakkar, the company's Chief Scientific Officer. Thank you all so much for being here today. I'm really looking forward to it. ...

PresentationTerence FlynnEquity Analyst Great. Thanks for joining us, everybody. I'm Terence Flynn, Morgan Stanley's U.S. biopharma analyst. I'm very pleased to be hosting AbbVie this morning. Joining us from the company, we have the company's CEO, Rob Michael. We have Jeff Stewart, the company's Chief Commercial Officer; and Roopal Thakkar, the company's Chief Scientific Officer. Thank you all so much for being here today. I'm really looking forward to it. ...

AbbVie (NYSE:ABBV) FY Conference September 09, 2025 10:00 AM ET Company ParticipantsRobert Michael - CEO & Chairman of BoardRoopal Thakkar - EVP - R&D & Chief Scientific OfficerJeffrey Stewart - EVP & CCOConference Call ParticipantsTerence Flynn - Equity Research AnalystTerence FlynnGreat. Thanks for joining us, everybody. I'm Terence Flynn, Morgan Stanley's U.S. biopharma analyst. I'm very pleased to be hosting AbbVie this morning. Joining us from the company, we have the company CEO, Rob Michael. We have ...

Group 1: Biotech Sector - Wolf expresses a bullish outlook on the biotech sector, indicating significant upside potential for the group [1] - Abby and Vertex are highlighted as companies with multiple approved drugs generating revenue, contrasting with typical biotech firms that may rely on a few products awaiting FDA approval [2][3] - Abby is noted for its mid-teens valuation multiple and approximately 3% dividend yield, while Vertex has a recently approved pain medication that enhances its attractiveness [3][4] Group 2: Healthcare Sector - JP Morgan upgrades Viva to overweight, emphasizing its role as a cloud-based software provider for the life sciences sector [5] - Viva has demonstrated consistent revenue growth, with last quarter's growth at 16%, and prior years at 15% and 14% respectively, while maintaining a balanced revenue exposure of 50% in the US and 50% internationally [6] - Viva's market capitalization is around $45 billion, and its stock is currently trading about 15% below its all-time high from August 2021 [6] Group 3: Utility Sector - Roth Capital shows a bullish stance on Vistra, which is one of the three utility names owned by the company, alongside Constellation and Atmos Energy [7] - The utility sector is experiencing a pullback, with Vistra and Constellation both seeing declines of just over 1.5% [7]

Key Takeaways J&J projects over $57B in 2025 Innovative Medicines sales with 5-7% annual growth through 2030.AbbVie expects Skyrizi and Rinvoq to deliver $25B in 2025 sales, which will rise to $31B by 2027.Both stocks have gained over 20% YTD, with AbbVie offering a higher dividend yield at around 3.2%.Johnson & Johnson (JNJ) and AbbVie (ABBV) are both pharma-driven healthcare giants with a strong presence in immunology, oncology and neuroscience areas. Other than that, J&J also has drugs for cardiovascular ...

Core Insights - AbbVie's ability to extend patent-protected market exclusivity for its drugs is a positive indicator for new investors [1][3] - The company has delivered a total return of 494% over the past decade, largely due to its successful management of patent exclusivity for its lead drug, Humira [3] - AbbVie has a strong track record of increasing dividend payouts, with a 221.6% increase over the past ten years [1] Patent Exclusivity - Composition of matter patents typically provide 25 years of protection, allowing drugmakers over a decade of exclusivity after new drug development [4] - AbbVie utilized a range of additional patents to delay biosimilar competition for Humira in the U.S. until 2023 [4] New Drug Performance - AbbVie's new lead drug, Skyrizi, has seen sales increase by 69% year-over-year in the first half of 2025, reaching $7.8 billion [6] - Rinvoq, another drug launched in 2019, generated $3.7 billion in sales during the same period, contributing to an overall 8% increase in total first-half revenue despite a significant decline in Humira sales [6] Dividend Yield - AbbVie currently offers a dividend yield of 3.1%, and if the company can maintain exclusivity for Rinvoq and Skyrizi as it did for Humira, shareholder dividends may increase significantly in the coming decade [7]

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **Biopharma** industry in **North America** with a comprehensive analysis of the **US drug market** as per **IQVIA Rx** data [1][6]. Core Insights - The **Total Prescription Year-over-Year (YoY) growth** for the week ending **August 29, 2025**, was reported at **+1.7%**, a decrease from **+2.3%** the previous week and **+2.6%** over the past 12 weeks [1][2]. - The **rolling 4-week TRx YoY** change was **+2.3%**, while the **rolling 12-week TRx YoY** was **+2.6%** [2]. - The **Extended Unit (EUTRx)** weekly YoY growth was **+2.0%**, indicating stronger performance compared to the overall TRx YoY [2]. Company-Specific Developments - **Bristol Myers Squibb (BMY)**: The drug **Cobenfy** for schizophrenia was approved on **September 26, 2024**. The current weekly scripts are approximately **2,210**, up from **2,160** the previous week. To meet the 2025 consensus expectations, Cobenfy needs to achieve **~129K TRx** at a net price of **~$1,200** [3]. - **Vertex Pharmaceuticals (VRTX)**: The drug **Journavx** for acute pain was approved on **January 30, 2025**. Current scripts are around **7,280**, with hospital scripts making up about **35%** of total scripts. To achieve projected sales of **$78 million**, approximately **349K total scripts** are needed [4]. - **Gilead Sciences (GILD)**: The drug **Yeztugo** was approved on **June 18, 2025**. The latest total TRx is approximately **470**, up from **390** the previous week. Projections for achieving consensus estimates for the second half of 2025 are discussed, with a focus on gross-to-net pricing adjustments [5]. Market Trends and Comparisons - A comparison of launches between **GILD's Yeztugo**, **Descovy**, and **Apretude** is provided, highlighting the uptake among different patient groups and the anticipated growth trajectory [5][9]. - The **GLP-1 franchise** from **Eli Lilly** shows significant growth, with **Mounjaro** and **Zepbound** experiencing **+66%** and **+233%** YoY growth respectively [20][23]. Additional Insights - The call includes a detailed analysis of **key products** and their respective YoY performance, with notable declines in some established drugs like **Humira** (-39%) and growth in others like **Skyrizi** (+44%) [20]. - The **COVID vaccine** tracking and **biosimilar adoption** analysis are also mentioned, indicating ongoing trends in the pharmaceutical landscape [12][28]. Conclusion - The conference call provides a comprehensive overview of the current state of the biopharma industry in North America, highlighting both challenges and opportunities for key players in the market. The data reflects a mixed performance across various drugs, with some experiencing significant growth while others face declines.

Core Insights - AbbVie has developed a strong neuroscience franchise, initially driven by blockbuster drugs like Botox Therapeutic and Vraylar, and has expanded its portfolio with new migraine treatments Qulipta and Ubrelvy, as well as Vyalev for Parkinson's disease [1][2]. Financial Performance - The neuroscience segment contributed over 17% to AbbVie's total sales in the first half of 2025, with revenues growing nearly 21% year over year, primarily due to increased sales of Botox Therapeutic and Vraylar, along with rising uptake of Ubrelvy and Qulipta [2][9]. - The strong performance in the neuroscience segment has helped mitigate the decline in Duodopa sales [2][9]. Product Launches and Acquisitions - AbbVie launched Vyalev in the U.S. earlier this year, and while initial sales have been modest, expectations are for its contribution to total revenues to grow over time [3]. - The company is actively investing in new therapies, including a recent agreement to acquire Gilgamesh Pharmaceuticals' lead pipeline drug for approximately $1.2 billion, which targets major depressive disorder (MDD). This follows a $1.4 billion acquisition of Aliada Therapeutics, which added an investigational antibody for Alzheimer's disease (AD) [4][5]. Competitive Landscape - Major competitors in the neuroscience space include Biogen and Johnson & Johnson. Biogen is diversifying its offerings due to declining revenues in its multiple sclerosis franchise and has partnered with Eisai to market an FDA-approved treatment for Alzheimer's disease [6]. - Johnson & Johnson has a strong neuroscience portfolio, including the antidepressant nasal spray Spravato and the antipsychotic Invega Sustenna, and recently acquired Intra-Cellular Therapies to enhance its offerings [7]. Valuation and Market Performance - AbbVie shares have outperformed the industry year to date, trading at a premium with a price/earnings (P/E) ratio of 15.59, compared to the industry average of 14.84 and above its five-year mean of 12.82 [8][11]. - Earnings per share (EPS) estimates for 2025 and 2026 have seen slight increases in the past 30 days [12].