AbbVie (NYSE:ABBV) executives outlined a pipeline and business-development strategy centered on immunology, neuroscience, oncology and obesity, while highlighting plans to expand beyond the company’s established SKYRIZI and RINVOQ franchises.
Speaking at a Morgan Stanley event, Chairman and Chief Executive Officer Rob Michael said AbbVie’s 2026 guidance is expected to be nearly $10 billion above the company’s peak before HUMIRA’s loss of exclusivity. He said HUMIRA revenue has declined by $18 billion from its peak, while growth from AbbVie’s other platforms has totaled $28 billion, led by immunology and neuroscience.
Apogee deal expands immunology ambitions
AbbVie highlighted its acquisition of Apogee Therapeutics as a key addition to its immunology strategy. Michael said the transaction provides a late-stage atopic dermatitis asset, referred to during the event as zumi, as well as an opportunity to enter asthma, an area AbbVie had previously identified as a growth target.
Roopal Thakkar, AbbVie’s head of research and development and chief scientific officer, said the company expects to begin enrolling patients in the registrational program for zumi this year, with a potential launch in the early part of 2030. AbbVie plans to conduct global studies and include adolescents, while also evaluating the asset in combination with a half-life-extended TSLP program in asthma.
Thakkar said the Phase 2b data generated by Apogee showed strong efficacy and that the company aims to replicate those results in larger studies. He noted that atopic dermatitis and asthma remain underpenetrated markets for advanced therapies and said both markets are growing at more than 15% annually.
Chief Commercial Officer Jeff Stewart said AbbVie is not particularly concerned about potential biosimilar competition for DUPIXENT, citing the company’s experience competing in markets affected by biosimilars to HUMIRA and STELARA. Stewart said atopic dermatitis biologic penetration is approximately 8% in the U.S. and lower internationally, leaving room for market expansion.
SKYRIZI, RINVOQ and combination programs
Stewart said AbbVie continues to see strong patient capture rates for SKYRIZI and RINVOQ despite increasing competition. The company expects a fourth-quarter approval for subcutaneous induction of SKYRIZI in Crohn’s disease, followed by an estimated 60 to 90 days to secure broad payer access.
According to Stewart, the SKYRIZI subcutaneous induction data showed strong results across placebo-controlled endoscopic endpoints and clinical remission. AbbVie also expects additional RINVOQ catalysts from potential indications in giant cell arteritis, lupus, hidradenitis suppurativa, vitiligo and alopecia.
Michael said combination therapies represent the next stage of innovation in immunology. AbbVie has added or developed several mechanisms, including TL1A, TREM1 and alpha 4 beta 7, which it intends to study with SKYRIZI in inflammatory bowel disease.
Thakkar said early Phase 2a data for a SKYRIZI and alpha 4 beta 7 combination showed a doubling of endoscopic remission compared with SKYRIZI alone. AbbVie plans to evaluate multiple combinations in Crohn’s disease and ulcerative colitis, including combinations involving alpha 4 beta 7, TL1A and potentially TREM1. The company is also working on co-formulations designed to deliver combination treatments in a single injection.
Neuroscience and oncology updates
In neuroscience, Michael said VYALEV has exceeded AbbVie’s expectations and is expected to reach global blockbuster status this year. He said the company also expects tavapadon to complement VYALEV in Parkinson’s disease and reiterated AbbVie’s view that its Parkinson’s franchise represents a $5 billion opportunity at peak.
Stewart said tavapadon could have a slower initial launch because AbbVie missed the Medicare reimbursement window for 2027. Still, he described its clinical profile as differentiated, citing data suggesting sustained control over 85 weeks without requiring escalation of oral levodopa and carbidopa.
Thakkar said AbbVie’s Alzheimer’s disease work includes an A-beta program acquired through Aliada Therapeutics that has entered Phase 1b, as well as an ADARx collaboration focused on siRNA approaches targeting tau. He said the company is also exploring neuroimmunology and disease-modifying opportunities in Parkinson’s disease.
In oncology, Thakkar highlighted etentamig, AbbVie’s next-generation BCMA T-cell engager for multiple myeloma. He said the company plans to present data later in September at the International Myeloma Society meeting and expects to submit the treatment for approval this year. Thakkar said the program is being developed with once-monthly dosing, a single step-up regimen, and an aim of improving convenience and safety compared with currently available therapies.
Policy and AI priorities
Michael said AbbVie is monitoring policy issues involving U.S. biopharma competitiveness, international drug-pricing practices and the 340B drug discount program. He said the company supports the original intent of 340B but believes the program’s growth and patient definition have led to abuse that could divert investment from research and development.
He also said AbbVie will have three medicines participating in a rebate pilot program, which he described as an opportunity to increase transparency.
On artificial intelligence, Michael said AbbVie’s focus extends beyond individual functional applications. He said the company is training employees and deploying tools intended to improve decision-making across research, operations and commercial activities, including efforts to increase the probability of research success, reduce costs and support new patient starts.
About AbbVie (NYSE:ABBV)
AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.
AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.
