“We now expect total net revenues of approximately $60.5 billion, an increase of $800 million.”

In context

“ude a $0.42 unfavorable impact from acquired IPR&D expense. Total net revenues were $15.4 billion, reflecting growth of 6.5% on an operational basis, excluding a modestly favorable impact from foreign exchange. Adjusted gross margin was 84.4% of sales, adjusted R&D expense was 13.7% of sales and adjusted SG&A expense was 21% of sales. The adjusted operating margin ratio was 44.3% of sales, which includes a 5.3% unfavorable impact from acquired IPR&D expense. Net interest expense was $678 million. The adjusted tax rate was 16.2%. Turning to our financial outlook. We are raising our full year adjusted earnings per share guidance to between $11.88 and $12.08. Please note that this guidance does not include an estimate for acquired IPR&D expense that may be incurred beyond the second quarter. We now expect total net revenues of approximately $60.5 billion, an increase of $800 million. This reflects a relatively neutral impact from foreign exchange on full year sales growth. Our updated revenue forecast includes the following approximate assumptions for several of our key products and therapeutic areas. In Immunology, we now expect Skyrizi global revenues of $17.1 billion, an increase of $600 million, reflecting continued share gains in psoriasis and IBD and U.S. HUMIRA revenues of $3 billion, a decrease of $500 million, reflecting biosimilar competition. In neuroscience, we now expect global sales of $10.5 billion, an increase of $300 million. This includes a $100 million increase for VYALEV, reflecting strong international uptake with the remaining $200 million increase split relatively evenly across Vraylar, BOTOX Therapeutic and the total oral CGRP portfolio. And in”