AbbVie Conference Call Summary Company Overview - **Company**: AbbVie (NYSE: ABBV) - **Date**: February 13, 2026 - **Focus**: Discussion on drug development, particularly lutikizumab and RINVOQ for hidradenitis suppurativa (HS) and inflammatory bowel disease (IBD) Key Points Drug Development and Differentiation - **Lutikizumab and RINVOQ**: Targeting HS with a distinct mechanism involving IL-1 alpha and IL-1 beta, aiming for clinical differentiation from HUMIRA and Cosentyx [1][2] - **Clinical Data**: Phase II data shows strong efficacy in both biologic-experienced and naive patients, indicating potential for differentiation in treatment outcomes [13][21] - **Combination Therapies**: AbbVie is exploring co-formulations and combinations with other assets to enhance treatment efficacy [7][9] Clinical Insights - **Neutrophil Role in HS**: Lutikizumab's bispecific approach targets both IL-1 alpha and beta, which play crucial roles in HS pathology [11][43] - **Efficacy Expectations**: Conventional wisdom suggests biologic-naive patients may show higher efficacy, but AbbVie has observed clinically meaningful effects in TNF-failure populations [17][21] Competitive Landscape - **Other Compounds**: AbbVie is aware of competitors like Sanofi's OX40 bispecific and their implications in HS treatment, particularly regarding immunosuppression risks [23][28] - **Immunogenicity Concerns**: Challenges with anti-TNF bispecifics have been noted, leading AbbVie to focus on novel mechanisms rather than traditional anti-TNFs [34][36] IBD Development - **SKYRIZI and Combinations**: AbbVie is excited about the potential of SKYRIZI in IBD, particularly with combinations involving lutikizumab and TL1A-directed treatments [45][49] - **TREM1 Mechanism**: TREM1 is being evaluated as a novel mechanism for IBD, with potential applications in other fibrotic diseases [60][78] Future Directions - **Biomarker Research**: AbbVie is investigating biomarkers to enhance individualized treatment approaches in IBD, aiming for more targeted therapies [69][70] - **TL1A in Fibrotic Diseases**: The potential for TL1A as an anti-fibrotic agent is being explored, with interest in diseases like rheumatoid arthritis and systemic sclerosis [78][80] Oral IL-23 Development - **Next-Generation Oral Treatments**: AbbVie is developing an oral IL-23 treatment, focusing on higher potency and longer half-life to improve patient adherence compared to existing therapies [81][83] Unique Compounds - **ADC Targeting CD19**: AbbVie is excited about a unique ADC targeting CD19 with a steroid payload, which may offer rapid and durable B-cell depletion [86][91] Additional Insights - **Market Positioning**: AbbVie aims to position its products effectively in the market, leveraging data from ongoing studies to enhance treatment options for patients [68][86] - **Long-Term Strategy**: The company is focused on developing innovative therapies that address unmet medical needs in both HS and IBD, with a strong emphasis on combination therapies and novel mechanisms [56][60]