AbbVie (ABBV) Goldman Sachs 47th Annual Global Healthcare Conference 2026 summary

Strategic vision and growth outlook

• Expects continued top-tier growth, exceeding previous peak sales just two years after a major LOE, driven by four main pillars: immunology, oncology, neuroscience, and aesthetics, with obesity as an emerging area.

• Immunology remains a core strength, with Skyrizi and Rinvoq showing significant runway and continued double-digit growth, both exceeding 20% growth in their eighth year on the market.

• Oncology is positioned as a future growth driver, with a robust pipeline and recent promising data from ASCO, including assets like Temab-A and etentamig.

• Neuroscience is highlighted as a major contributor, with three verticals each expected to surpass $5 billion in peak sales, including programs in migraine, Parkinson’s, and neurodegeneration.

• Aesthetics and obesity are seen as synergistic, leveraging established channels and anticipating growth from new entrants and differentiated therapies.

Pipeline and innovation highlights

• Oncology pipeline features combination approaches in PD-1, VEGF, and KRAS spaces, with Temab-A and etentamig showing strong data in head and neck, ovarian, and multiple myeloma.

• Anticipates phase III data for etentamig in multiple myeloma later this year, with potential for outpatient, once-a-month dosing and strong CRS profile.

• Immunology pipeline includes next-generation assets like TL1A, TREM1, IRAK4, and in vivo CAR T, aiming for functional cures and extending beyond Skyrizi and Rinvoq.

• In IBD, combination strategies with Skyrizi and novel α4β7 (ABBV-382) show doubling of endoscopic remission in Crohn’s, with plans for rapid phase III advancement.

• Neuroscience pipeline strengthened by acquisitions and new assets targeting depression and Alzheimer’s, with ongoing expansion in migraine and Parkinson’s.

Business development and capital deployment

• Over $8 billion invested in external innovation over the past two years, focusing on differentiated assets in core verticals and building depth for long-term growth.

• Open to acquiring later-stage or revenue-generating assets if they offer clear differentiation and value, with financial capacity to execute such deals.

• Recent deals include expansion in immunology, oncology, neuroscience, and entry into obesity, with a focus on cross-therapeutic benefits and pipeline depth.