“The acute indication expansion in international markets for QLIPTA further supports our long-term outlook for our oral CGRPs to collectively achieve more than $5 billion of peak sales.”

In context

“Jeffrey Ryan Stewart (Executive Vice President, Chief Commercial Officer): Thank you, Robert. I will start with the quarterly results for immunology, which delivered total revenues of nearly $8.8 billion, reflecting very strong operational sales growth of 14.6%. SKYRIZI total sales were $5.5 billion, up 24% on an operational basis, once again exceeding our expectations. I am very pleased with our performance in psoriasis where we continue to capture robust in-play share of new and switching patients at a rate which is impressively four times higher than any other biologic or oral treatment in the U.S. We have achieved market share leadership now in more than 30 countries and see substantial room for continued growth globally. We do not expect a material impact to our robust outlook in psoriasis from existing or new therapies, given SKYRIZI's distinct profile. This includes high and very durable skin clearance from head to toe, widely demonstrated superior efficacy in head-to-head trials versus five different mechanisms, including both biologics and oral agents; simple and convenient quarterly dosing; and extremely strong long-term data in psoriatic arthritis extending now to five years, which is very important to prescribers as roughly 30 percent of psoriasis patients ultimately develop PsA. As well as now our recent approval for pediatric use with the new weight-based dosing option. In IBD, SKYRIZI is the fastest growing; we continue to capture a leading share of total new patient starts in the U.S. in the quarter, including substantial leadership in the frontline setting, the clearest signal of physician preference. Competitive dynamics remain in line with our expectations with the category seeing very robust growth in both Crohn's disease and ulcerative colitis. Importantly, we are also preparing for the potential approval of our subcutaneous induction dosing option for Crohn's later this fall, which is supported by very strong data, particularly in the frontline where we observe the highest levels of endoscopic response seen in the category. Turning now to RINVOQ, which is also performing above our expectations. Global sales were more than $2.5 billion, up 23.7% on an operational basis. I am especially pleased with the momentum we see in gastroenterology, where RINVOQ is on pace to deliver 30% global sales growth this year. RINVOQ has set a very high bar for efficacy in both ulcerative colitis and Crohn's disease, demonstrating strong rates of remission and endoscopic improvement. We continue to see a nice inflection of in-play patient share following the recently expanded label supporting access to RINVOQ earlier in the treatment paradigm for IBD patients. More broadly, we continue to see strong demand across all of RINVOQ's indications, and we are very excited about the growth potential in dermatology with vitiligo and alopecia areata now approved in Europe and U.S. approval decisions anticipated over the next few quarters. RINVOQ's profile is competitively positioned for both of these chronic diseases where our recently expanded U.S. dermatology field force will support both launches. Lastly in immunology, HUMIRA global sales were $706 million, down 36.1% on an operational basis, reflecting biosimilar competition and in line with our expectations. Moving to neuroscience where we once again outperformed our expectations. Total revenues were more than $3.2 billion, up approximately 20% on an operational basis. All three of our leading neuro pillars continue to demonstrate robust sales growth. In psychiatry, Vraylar global sales were nearly $1.1 billion, up approximately 19%, reflecting share gains in both bipolar disorder and adjunctive MDD. In migraine, our leading portfolio continues to deliver outstanding results, with Botox Therapeutic, Ubrelvy, and QLIPTA each delivering double-digit sales growth again this quarter. QLIPTA is now approved in Europe for adults as both an acute treatment for migraine attacks and as a once-daily preventive treatment option for chronic or episodic migraine. The acute indication expansion in international markets for QLIPTA further supports our long-term outlook for our oral CGRPs to collectively achieve more than $5 billion of peak sales. Moving to Parkinson's disease, another substantial long-term growth driver for AbbVie. Total sales for Vialev were $256 million, up more than 27% on a sequential basis. Vialev is well on track to achieve blockbuster sales this year, and we expect continued robust momentum in Parkinson's with the anticipated U.S. approval and launch of tevapadon in the third quarter. Feedback from key opinion leaders has been very positive, with tevapadon demonstrating strong efficacy as both a monotherapy as well as an add-on to standard of care. Overall, we believe our Parkinson's portfolio with Vialev, tevapadon, and Duopa will be a substantial commercial opportunity. We continue to expect collective Parkinson's peak sales of more than $5 billion. Turning now to oncology, where total revenues were more than $1.6 billion, down 2.4% on an operational basis. Total VENCLEXTA sales were $771 million, up 9.6% on an operational basis. Performance in CLL continues to be strong as VENCLEXTA used in combination with BTK inhibitors is expanding as a preferred fixed-duration treatment globally. Double-digit sales growth from Elahere, Epkinly, and Amrelis also helped to partially offset the sales decline for IMBRUVICA, which was down 29.4% as expected due to IRA pricing and competitive share pressure. We also launched DecNUPAS, a new therapeutic option for patients living with BPDCN, an ultra-rare form of blood cancer, further expanding AbbVie's emerging ADC portfolio. Moving now to aesthetics, which delivered sales of nearly $1.3 billion, down 0.9% on an operational basis. Botox Cosmetic total revenues were $728 million, up 3.4% operationally reflecting modest market growth globally. Juvederm global sales were $245 million, down 6.6% operationally reflecting continued headwinds in key dermal filler markets. As the industry leader, we continue to invest in this highly underpenetrated market to support long-term growth. I am especially pleased with the recent Europe and Canada approvals of Bowie, our fast-acting short-duration toxin. Bowie complements our toxin portfolio nicely and represents a new way for patients to initiate aesthetic treatment. We expect Bowie will meaningfully expand the toxin market and look forward to potentially bringing this innovation to the U.S. Overall, we continue to demonstrate outstanding commercial execution. With that, I will turn the call over to Roopal for comments on our R&D highlights.”