Group 1 - The marketplace channel Haggerston BioHealth offers exclusive stock tips focused on Pharma, Biotech, and Healthcare, providing access to investment bank-grade financial models and research [1] - The group caters to both novice and experienced biotech investors, offering insights on catalysts, buy and sell ratings, product sales forecasts, and integrated financial statements [2] - Edmund Ingham, a biotech consultant with over 5 years of experience, leads the Haggerston BioHealth investing group and has compiled detailed reports on over 1,000 companies [2]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share of $2.46, which is $0.10 above the guidance midpoint [7][45] - Total net revenues exceeded $13.3 billion, reflecting robust growth of 9.8% on an operational basis, excluding a 1.4% unfavorable impact from foreign exchange [7][45] - The adjusted operating margin ratio was 42.3% of sales, including a 1.9% unfavorable impact from acquired IPR&D expense [46] Business Line Data and Key Metrics Changes - Immunology revenues were over $6.2 billion, with Skyrizi and Rinvoq contributing $5.1 billion in combined sales, reflecting growth of more than 65% [14][20] - Oncology revenues reached $1.6 billion, with Imbruvica global sales at $738 million (down 11.9%) and Venclexta global revenues at $665 million (up 12.3%) [20][21] - Aesthetics delivered global sales of $1.1 billion, down 10.2% on an operational basis, with BOTOX Cosmetic revenues at $556 million (down 10.7%) and Juvederm sales at $231 million (down 20%) [23][24] - Neuroscience revenues were approximately $2.3 billion, up 17% on an operational basis, with VRAYLAR global sales at $765 million (up 10.3%) [26][27] Market Data and Key Metrics Changes - The company anticipates total net revenues of approximately $59.7 billion for the year, an increase of $700 million from previous estimates [47] - Skyrizi global revenues are now expected to be $16.5 billion, an increase of $600 million, while Rinvoq global sales are projected at $8.2 billion, an increase of $300 million [48] - US Humira revenues are expected to decrease to $3.5 billion, reflecting higher erosion from biosimilar competition [49] Company Strategy and Development Direction - The company plans to invest over $10 billion in the US over the next decade to support volume growth and expansion into new areas such as obesity [10][54] - The company is focused on advancing its internal pipeline and pursuing strategic acquisitions to drive growth, including the acquisition of Nimble Therapeutics [11][12] - The company aims for a high single-digit revenue CAGR through 2029, indicating a clear runway for growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong performance across therapeutic areas and raised full-year adjusted EPS guidance by $0.10 [9][54] - The management acknowledged potential impacts from sectoral tariffs but believes any related effects would align with peers due to the company's extensive US manufacturing presence [10][53] - Management highlighted the importance of maintaining a competitive tax policy to encourage sustainable investment in US manufacturing [54][82] Other Important Information - The company is preparing for the global launch of giant cell arteritis for Rinvoq, which is expected to further enhance its rheumatology label [19] - The company is also making significant progress in its pipeline, with several important data readouts and regulatory submissions anticipated throughout 2025 [44] Q&A Session Summary Question: Insights on Skyrizi and Rinvoq's guidance increase - The increase in guidance for Skyrizi and Rinvoq is attributed to strong performance in IBD and rheumatology indications, with specific revenue increases detailed [60][61] Question: Thoughts on Humira's erosion - Management noted faster erosion due to biosimilar competition and expects further declines as the market matures [66] Question: Mitigation strategies regarding tariffs - The company plans to manage inventory and explore cost efficiencies to mitigate potential tariff impacts, while also expanding US manufacturing capacity [75][76] Question: Pricing strategy for BoNT/E - The pricing strategy for BoNT/E will be determined closer to launch, considering its shorter duration of action and potential market dynamics [106][107] Question: Future of emraclidine in schizophrenia - The company sees potential in emraclidine and plans to initiate a multiple ascending dose study to explore higher dosing options [120][121] Question: Manufacturing footprint and investment strategy - The company maintains a robust manufacturing network and plans to continue investing in US operations while ensuring supply chain resilience [123][126]

Group 1: AbbVie Inc (NYSE:ABBV) - AbbVie reported adjusted first-quarter earnings of $2.46 per share on $13.3 billion in revenue, exceeding analyst expectations [2] - The company raised its full-year outlook, projecting $16.5 billion in sales for its psoriasis drug Skyrizi [2] - AbbVie shares are up 1.1% to $182.53, and are now 10% higher over the last 12 months despite a 12% pullback this quarter [2][3] Group 2: Options Activity for AbbVie - Over 9,000 call options for AbbVie have been traded, which is quadruple the average intraday volume [4] - The most popular option is the weekly 4/25 190-strike call, with new positions being opened at the weekly 5/2 200-strike call [4] Group 3: Gilead Sciences Inc (NASDAQ:GILD) - Gilead's first-quarter revenue of $6.7 billion fell short of the forecasted $6.8 billion, leading to a 3.9% drop in share price to $102.45 [5] - RBC and Morgan Stanley raised their price targets to $92 and $135, while Oppenheimer lowered its target from $132 to $125 [5] - Gilead shares are 11% higher year-to-date but have been consolidating below the all-time high of $119.96 [6] Group 4: Options Activity for Gilead - Gilead call options are trading at five times the average intraday volume, with notable sell-to-open activity in the weekly 5/2 109-strike call [6] - The weekly 4/25 108-strike call is also seeing significant activity, expiring at the close today [6]

Core Insights - AbbVie reported quarterly earnings of $2.46 per share, exceeding the Zacks Consensus Estimate of $2.39 per share, and showing an increase from $2.31 per share a year ago, representing an earnings surprise of 2.93% [1] - The company achieved revenues of $13.34 billion for the quarter, surpassing the Zacks Consensus Estimate by 3.39% and increasing from $12.31 billion year-over-year [2] - AbbVie has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] Earnings Outlook - The future performance of AbbVie’s stock will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current consensus EPS estimate for the upcoming quarter is $3.09 on revenues of $14.8 billion, and for the current fiscal year, it is $12.20 on revenues of $59.58 billion [7] Industry Context - The Large Cap Pharmaceuticals industry, to which AbbVie belongs, is currently ranked in the top 21% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - The performance of AbbVie’s stock may also be influenced by the overall industry outlook and trends [8] Competitor Insights - Eli Lilly, a competitor in the same industry, is expected to report quarterly earnings of $3.52 per share, reflecting a year-over-year increase of 36.4%, with revenues anticipated to be $12.62 billion, up 43.9% from the previous year [9][10]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Viewpoint - AbbVie is positioned for sustained growth and is expected to reach new all-time highs due to its well-diversified portfolio and strong management [1][2]. Financial Performance - AbbVie reported an 8.4% increase in revenue, surpassing MarketBeat's consensus by over 300 basis points, with Immunology leading the growth at 16.6% [2][6]. - The adjusted EPS was $2.46, reflecting a 6.5% year-over-year increase and exceeding forecasts by $0.06 [6]. - The company improved its guidance, aligning the adjusted EPS target with analysts' expectations for a 20% year-over-year increase [7]. Product Performance - Immunology remains the core segment, with Humira sales declining by 50% year-over-year, but this was offset by strong performances from Skyrizi and Rinvoq, which grew by 72% and 57.2%, respectively [4][5]. - Neuroscience saw a 16.1% increase, while Oncology grew by 5.8%, and Aesthetics experienced an 11.7% decline [5]. Dividend and Shareholder Returns - AbbVie has a dividend yield of 3.63% and an annual dividend of $6.56, with a track record of 53 years of dividend increases [8][10]. - The company is expected to pay 3% of its earnings in dividends in 2025 and maintain annual growth in distributions [10]. Market Sentiment and Analyst Trends - Analysts have increased coverage and sentiment towards AbbVie, maintaining a Moderate Buy rating and raising the consensus price target by nearly 20% year-over-year [9][10]. - Following the Q1 release, AbbVie's stock price confirmed an uptrend, with potential to retest all-time highs before mid-year [11].

[Form 8-K Filing: Financial Guidance Update](index=1&type=section&id=Form%208-K%20Filing%20April%203%2C%202025) This Form 8-K filing provides an update on preliminary Q1 2025 financial results, revised EPS guidance due to an IPR&D expense, and details related exhibits [Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) AbbVie announced preliminary Q1 2025 results, highlighting an expected acquired In-Process Research and Development (IPR&D) and milestones expense of $248 million, consequently updating its full-year and Q1 2025 adjusted diluted EPS guidance to incorporate this impact, while noting that the results are not yet final - Preliminary Q1 2025 results are expected to include a pre-tax acquired IPR&D and milestones expense of **$248 million**, which will unfavorably impact both GAAP and adjusted non-GAAP diluted EPS by **$0.13**[5](index=5&type=chunk) Updated 2025 Adjusted Diluted EPS Guidance | Guidance Period | Updated Adjusted Diluted EPS Range | Notes | | :--- | :--- | :--- | | Q1 2025 | $2.34 - $2.38 | Includes $0.13/share impact from IPR&D expense | | Full-Year 2025 | $11.99 - $12.19 | Includes Q1 IPR&D expense; original guidance from Jan 31, 2025 excluded this | - The updated guidance does not reflect the impact from the licensing agreement with Gubra for GUB014295, as that transaction closed after the first quarter of 2025[6](index=6&type=chunk) [Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) The report includes Exhibit 99.1, which provides detailed guidance including the impact of the acquired IPR&D and milestones expense, and Exhibit 104 for XBRL data - The filing includes the following key exhibits: * **Exhibit 99.1:** Detailed guidance including the impact of acquired IPR&D and milestones expense * **Exhibit 104:** Cover page data formatted in Inline XBRL[10](index=10&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) The report contains forward-looking statements subject to risks and uncertainties, with AbbVie cautioning that actual results may differ materially and directing investors to its Form 10-K and other SEC filings for a detailed discussion of these risks, without undertaking an obligation to update these statements - Forward-looking statements are subject to risks including, but not limited to, challenges to intellectual property, competition, R&D difficulties, adverse litigation or government action, and changes in laws and regulations[9](index=9&type=chunk) - For more detailed information on risks and uncertainties, the company refers to Item 1A, 'Risk Factors,' of its 2024 Annual Report on Form 10-K and subsequent SEC filings[9](index=9&type=chunk)

Core Insights - AbbVie reported strong first-quarter results for 2025, exceeding expectations and indicating a solid start to the year, with a focus on pipeline advancements and strategic investments [2][3] Financial Performance - First-quarter diluted EPS was $0.72 on a GAAP basis, a decrease of 6.5%, while adjusted diluted EPS was $2.46, an increase of 6.5% [3][19] - Net revenues for the first quarter reached $13.343 billion, an increase of 8.4% on a reported basis and 9.8% on an operational basis [3][4] - The immunology portfolio generated global net revenues of $6.264 billion, up 16.6% on a reported basis and 18.1% operationally [3][4] - Skyrizi net revenues were $3.425 billion, reflecting a 70.5% increase on a reported basis, while Rinvoq net revenues were $1.718 billion, up 57.2% [4][19] - Humira net revenues decreased by 50.6% to $1.121 billion [4][19] - Neuroscience portfolio revenues were $2.282 billion, an increase of 16.1% [4][19] - Oncology portfolio revenues reached $1.633 billion, up 5.8% [4][19] - Aesthetics portfolio revenues were $1.102 billion, a decrease of 11.7% [4][19] Guidance and Outlook - AbbVie raised its 2025 adjusted diluted EPS guidance from $11.99 - $12.19 to $12.09 - $12.29, accounting for an unfavorable impact of $0.13 per share related to acquired IPR&D and milestones expense [3][9] Recent Developments - The European Commission granted marketing authorization to Rinvoq for treating giant cell arteritis in adults, marking the eighth approved indication for the drug in the EU [7] - AbbVie announced a collaboration with Xilio Therapeutics to develop novel immunotherapies for cancer [7] - A Biologics License Application was submitted to the FDA for trenibotulinumtoxinE for treating moderate to severe glabellar lines, which could be the first neurotoxin of its kind available [7][8]

Core Viewpoint - A class action securities lawsuit has been filed against Cerevel Therapeutics Holdings, Inc. due to alleged securities fraud affecting investors during a specific time frame [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who sold or held shares of Cerevel from October 11, 2023, to August 1, 2024, and were impacted by the alleged fraud [2]. - The complaint alleges that Cerevel's October 16, 2023, secondary stock offering documents omitted critical information regarding AbbVie's interest in acquiring Cerevel at a significantly higher price than the offering price of $22.81 per share [3]. - Bain Capital, Cerevel's controlling shareholder, is accused of acquiring shares at an artificially low price while possessing nonpublic information about AbbVie's acquisition interest, leading to a substantial profit when AbbVie announced the acquisition at $45 per share [3]. Group 2: Next Steps for Investors - Investors who suffered losses during the relevant period have until June 3, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [4]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [4]. Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the U.S. [5].

Core Viewpoint - A class action securities lawsuit has been filed against Cerevel Therapeutics Holdings, Inc. due to alleged securities fraud affecting investors during a specific time frame [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who sold or held shares of Cerevel from October 11, 2023, to August 1, 2024, and were affected by the alleged fraud [2]. - The complaint alleges that Cerevel's October 16, 2023, secondary stock offering omitted critical information regarding AbbVie's interest in acquiring Cerevel at a significantly higher price than the offering price of $22.81 per share [3]. - Bain Capital, Cerevel's controlling shareholder, is accused of acquiring shares at an artificially low price while possessing nonpublic information about AbbVie's acquisition interest [3]. Group 2: Financial Implications - AbbVie announced its agreement to acquire Cerevel for $45 per share on December 6, 2023, resulting in Bain Capital receiving over $120 million in windfall profits from shares purchased at the depressed offering price [3]. - Cerevel's January 18, 2024, Proxy statement allegedly misled investors regarding the timing and nature of AbbVie's interest in the company [3]. Group 3: Next Steps for Investors - Investors who suffered losses during the relevant period have until June 3, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [4]. - Class members may be entitled to compensation without incurring out-of-pocket costs or fees [4]. Group 4: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [5].