AbbVie (ABBV) Leerink Global Healthcare Conference 2026 summary

Growth outlook and financial performance

• Guidance targets $67 billion in revenue for 2026, with high single-digit growth expected through the decade.

• SKYRIZI and RINVOQ drive over 20% combined growth, with significant headroom for further market share gains.

• Neuroscience is the second fastest-growing area, with migraine and Parkinson’s franchises expected to exceed $5 billion each in peak sales.

• Operating margin expansion continues, with EPS growth outpacing revenue and ongoing SG&A efficiencies.

• R&D investment remains at 14%-15% of sales, increasing in absolute terms to support long-term growth.

Product and pipeline updates

• SKYRIZI maintains strong new patient share in IBD, with 75% in first-line naive patients and new subcutaneous data to be filed soon.

• RINVOQ label update in Q3 last year allows second-line use after biologic failure, enhancing its positioning in IBD.

• Subcutaneous SKYRIZI filing expected in the coming months, with potential approval and launch early next year.

• Amylin candidate shows nearly 10% weight loss at 12 weeks in a non-obese, mostly male population; phase Ib and II trials planned for broader populations.

• Multiple phase III and II readouts expected this year across immunology, oncology, and neuroscience, including key assets in HS, IBD, multiple myeloma, and depression.

Competitive landscape and strategy

• Competitive threats in IBD, such as Tremfya and icotrokinra, are factored into guidance, with continued confidence in market share growth.

• Dual asset approach in IBD (SKYRIZI front-line, RINVOQ second-line) strengthens portfolio positioning.

• HS market is under-penetrated; RINVOQ and lutikizumab phase III trials target both naive and biologic-failure patients.

• Oncology pipeline includes T-cell engagers, ADCs, and bispecifics, with several assets targeting ovarian, lung, prostate, and colorectal cancers.

• Neuroscience pipeline includes migraine expansion and a promising short-acting psychedelic for depression.