Core Insights - AbbVie reported strong second quarter 2025 results with adjusted EPS of $2.97 and net revenues of $15.4 billion, exceeding expectations [1] - The company raised its full-year revenue guidance by $800 million to $60.5 billion, driven by growth in immunology and neuroscience portfolios [1][12] Immunology Performance - SKYRIZI generated global revenue of $4.4 billion, up 61.8% year-over-year, while RINVOQ reached $2 billion, up 41.2%, benefiting from strong market share gains [3] - Combined sales of SKYRIZI and RINVOQ are projected to exceed $25 billion for the year, with SKYRIZI leading in the psoriasis market and RINVOQ expanding in IBD and rheumatology [4][5] R&D Pipeline and Growth Strategy - AbbVie has executed over 30 business development transactions since early 2024, including entering the obesity market and acquiring innovative CAR-T and immunology assets [6] - Recent FDA approvals and positive phase 3 data for RINVOQ position the company for sustained growth as it shifts focus from legacy biologics [7] Neuroscience Growth - The neuroscience portfolio achieved $2.7 billion in revenue, up 24% year-over-year, with significant contributions from Vraylar, Botox Therapeutic, Ubrelvy, and QULIPTA [8] - QULIPTA demonstrated superiority in migraine prevention, contributing to a $100 million upward revision in full-year guidance [9][10] Future Outlook - Management set net revenue guidance at approximately $15.5 billion for the next quarter, with adjusted EPS expected between $3.24 and $3.28 [12] - Updated product-level guidance includes SKYRIZI revenues of $17.1 billion and neuroscience sales of $10.5 billion for the full year [12]