We continue to expect positive full year growth for Juvederm, driven by the lessening COVID impact in China and two new filler launches in the U.S., which will benefit growth in the second half of the year. View our full suite of financial calendars and market data tables, all for free. So, Tim, this is Rob. Thank you very much. In the quarter, we also completed a registrational program for Rinvoq in Crohn's disease, reporting positive top-line results from our Phase 3 maintenance study We recently submitted our regulatory applications for Rinvoq in this indication and expect approval decisions next year. The adjusted tax rate for the second quarter of 2022 was 13.4 percent, as detailed below: Acquisition and integration costs reflect integration costs related to the Allergan acquisition. And that is the logic that we will will employ. It's Tim Anderson with Wolfe Research. ET Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Good morning And not really isn't surprising in light of the inflationary pressures that we're seeing on discretionary income. Thanks for the question. So obviously if the Street was way off, we want to point that out. we were the, really the last large product that didn't have that indication. So, based on the data we saw, we expanded the platform to other biomarkers getting into other specific immune cell types. And then remember were also going to get data and polymyalgia rheumatica. So, with that, I'll turn the call over to Rob for additional comments on our second quarter performance and financial outlook. Chris, it's Jeff. And about half of those customers had never written a JAK inhibitor. The company has a market cap of $259.75 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.20 and a beta of 0.65. Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds. Operator, lets take the next question, please. Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics. Tom? Including meaningful contributions from new products and recently launched indications. We're encouraged with the myeloma data, which is very unique in terms of biomarker driven approach for the (11;14). Turning to our financial outlook, we are confirming our full-year adjusted earnings per share guidance between $13.78 and $13.98. Rinvoq is now achieving an in-play RA share of approximately 13% in the U.S. So, those two factors, three and four are things that won't fluctuate. We'll see that data later, but the more data we have, the more likely we're going to expand this program to other indications where we believe that deep steroid suppression with TNF might actually bring new solutions for patients. So, there's multiple facets to this and potentially a number of opportunities and then later on in Crohn's disease as well. Jeff, this is Rob. Thank you. Thank you, Liz. This is Tom Hudson. Total adjusted net revenues of nearly $14 billion were up 19. . Thank you. On a GAAP basis, selling, general and administrative expense was 37.1 percent of net revenues. Rinvoq is now achieving an in-play RA share of approximately 13% in the U.S. We're also making excellent progress with our next generation c-MET ADC, ABBV-400, where the emerging clinical data is very promising in several solid tumors. Also on the call with me today, are Rick Gonzalez, Chairman of the Board and Chief Executive Officer; Rob Michael, Vice Chairman and President; Jeff Stewart, Executive Vice President, Chief Commercial Officer and Tom Hudson, Senior Vice President, R&D and Chief Scientific Officer. Signed up already? Thanks guys. Thanks. In summary, the diversity of our portfolio, once again allowed us to deliver another strong performance, despite the challenges we see in the CLL market, and increasing Imbruvica competition. At the European Alliance of Associations for Rheumatology (EULAR) 2022 Congress, AbbVie showcased its leadership in rheumatology research with new data across multiple inflammatory joint diseases. I mean, the real big ones in terms of how we look at it is the two big scenarios are you are likely coexisting with one or more biosimilars or if the negotiations don't go the way that we anticipate that were excluded in favor of biosimilars. In closing, we delivered strong performance again this quarter. We plan to advance to Phase II in several solid tumors, starting with urothelial cancer. They're very durable one year, two year, very unusual. But as you noted, there is also this impact -- economic impact that is suggestive of some early changes in consumer behavior. Rick, I know you're still going through the conversations with 2023 for Humira. And so far, it looks like that, but obviously evolving a bit here as we go along. The other -- so that's my enthusiasm. Quarter and Six Months Ended June 30, 2022 and 2021, (Unaudited) (In millions, except per share data), Net earnings attributable to noncontrolling interest. We continue to make good progress with the indication expansion programs for Venclexta, and remain on track to see results from the Phase III CANOVA trial in relapsed-refractory multiple myeloma patients with a t(11,14) mutation in the second half of this year. At the Association for Research in Vision and Ophthalmology (ARVO) Annual Meeting, AbbVie presented new data from its leading portfolio of eye care treatments. I would say we're midway through that process right now. And so what we here at least at a high level from our research so far as while that efficacy is incredibly impressive even after CAR-T, but where they go is this simple subcu of epcoritamab maybe the fastest way to deliver T-cells to my patients Im dealing with. In PsA, Rinvoq continues to see nice uptake, especially in the room segment, with commercial access now equal to RA. So, I feel that our communication is on track. Not to belabor the point on Humira, but I wanted to ask you, is the long-term, meaning the four-year kind of trend that we saw this quarter for Humira in Europe, is that still a good proxy for how you guys are thinking about the tail for Humira, just given we're coming up on four years in Europe and we're talking about high single-digit erosion still. Export data to Excel for your own analysis. Venclexta global sales were $505 million, up 21.2% on an operational basis. Good morning, everyone and thank you for joining us today. So, Jeff, if you want to add anything, feel free to jump in and add. And our anticipation is that we will initiate multiple additional Phase IIIs at both in DLBCL and other indications over the coming 12 to 18 months. Log In Help Join The Motley Fool . In some cases, as you probably know, the payers would publish this information. If you take small molecules as an example, I'll walk you through an example that illustrates the point that I'm going to raise here. 4 Remarkable Growth Stocks Billionaires Can't Stop Buying. But when you think about the combination between 951 and Duodopa, obviously, it's going to grow the revenue for the Company and expand the market. Sales of $492 million were up 13.9% on an operational basis, reflecting continued share gains in the U.S. atypical antipsychotic market. And thank you. AbbVies second quarter results demonstrate the strength of our diversified portfolio. On the second question, as it relates to an update on 2023 and potentially something on 2024. So we do see segments of physicians that are more wary of the JAKs after the label change. Welcome to the AbbVie Second Quarter 2022 Earnings Conference Call. But one, it's impossible to figure out what the return is going to be, so how do you invest? So it's a very common immunosuppressive mechanism. Not to belabor the point on Humira, but I wanted to ask you is the long-term, meaning the four-year kind of trend that we saw this quarter for Humira in Europe. Good morning, everyone. Qulipta continues to increase its leading new to brand share in the U.S. preventative CGRP class, when we consider both paid and bridge volume. Id say, overall, we feel good about the contracting position that were in. 29, 2022, Elizabeth SheaVice President, Head of Investor Relations, Richard GonzalezChairman of the Board, Chief Executive Officer, Jeffrey StewartExecutive Vice President, Commercial Operations, Thomas HudsonSenior Vice President of Research and Development, Chief Scientific Officer, Carrie StromSenior Vice President, President of Global Allergan Aesthetics, Gary NachmanBMO Capital Markets Analyst, Roopal ThakkarVice President, Global Regulatory Affairs, Christopher RaymondPiper Sandler Analyst, Timothy AndersonWolfe Research Analyst, Geoffrey MeachamBank of America Analyst, Chris ShibutaniGoldman Sachs Analyst, David RisingerSVB Securities Analyst. Included in this guidance are the following updated assumptions. On today's conference call, non-GAAP financial measures will be used to help investors understand AbbVie's business performance. So first, what happens is, it starts to interact very positively in the dermatology segment. The toxin warhead for 400 uses a more potent topoisomerase inhibitor payload, which is similar to irinotecan, a chemotherapy that is used in the treatment of colorectal cancer. So it has the enthusiasm waned over, let's say, the last couple of years. But unless Congress wants to harm patients and harm innovation in this industry, they need to change that part of it. But it's certainly has been exciting to see how this evolves -- program is evolved. 1. We expect adjusted earnings per share between $3.55 and $3.59, this guidance does not include acquired IPR&D expense that may be incurred in the quarter. And maybe you could talk about the near-term opportunities you see for products like epcoritamab and navitoclax, how much of those could contribute and potentially offset some of the pressure you've been seeing from Imbruvica? And I think that would be a little bit unlikely, because not all of these contracts will be two-year contracts. If youd like to listen to a replay of the call, please visit our website at investors.abbvie.com. An archived edition of the call will be available after 11:00 a.m. Central time. These results include a $0.14 unfavorable impact from acquired IPR&D expense. And look, these are complex negotiations, they go on for many, many months. In the U.S. dermatology segment, we're approximately 30% of patients exhibit both skin and joint involvement. And it has to do with both both inflammatory T-cells, which are there for the killing, but also the inhibitory TGF-beta signatures. And to answer your question, so the signatures we're looking at are not the CMS or kind of histology-based signatures on the tumor. So, it includes both. And so, that's the one piece that will still be somewhat of an unknown until we see the landscape start to play out in 2023. In terms of your second question, again its Jeff. In closing, AbbVie has, once again, delivered outstanding performance and we are very pleased with the strong momentum . Thank you. So, the way this was designed was to have that anti-TNF and then that direct delivery to avoid systemic side effects of the steroids. Just wanted to make sure that you are maintaining your 2022 aesthetics guidance of $5.9 billion, Robert. So, as I mentioned, about 30% of patients both have skin and joint involvement. As this plays out, we'll see how that shakes out. So its a very common immunosuppressive mechanism. Two questions, if I could. Beginning in the first quarter of 2022, the company includes acquired IPR&D and milestones expense in its reported non-GAAP financial measures. Well let me take a shot at that, and then certainly Jeff is closer to it. Good morning. We understand that the timing is still on track, but I just it feels like to me there is a distinct lack of enthusiasm towards this program. This reactivates the immune system against tumors, enhancing the antitumor immune response triggered by a PD-1 inhibitor. Share this transcript. Elizabeth Shea . And ultimately, I think the real challenge is, how we invest in this as an industry in innovation it is a small molecules. Hi. Global sales of $592 million were up more than 27% on a sequential basis. We now expect net revenues of approximately $58.9 billion, reflecting growth of 6.5% on an operational basis. 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