AbbVie Inc.

Good morning and thank you for standing by. Welcome to the AbbVie first quarter 2026 earnings conference call. All participants will be able to listen only until the question and answer portion of this call. You may ask a question by pressing star 1 on your phone. Today's call is also being recorded. If you have any objections, you may disconnect at this time. I would now like to introduce Ms. Liz Shea, Senior Vice President, Investor Relations.

Good morning and thanks for joining us. Also on the call with me today are Rob Michael, Chairman and Chief Executive Officer, Jeff Stewart, Executive Vice President, Chief Commercial Officer, Rupal Thakkar, Executive Vice President, Research and Development and Chief Financial Officer, and Scott Rents, Executive Vice President, Chief Financial Officer. Before we get started, I'll note that some statements we make today may be considered forward-looking statements based on our current expectations. Abby cautions that these forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from those indicated in our forward-looking statements. Additional information about these risks and uncertainties is included in our SEC filings. Abby undertakes no obligation to update these forward-looking statements except as required by law. On today's conference call, non-GAAP financial measures will be used to help investors understand Abby's business performance These non-GAAP financial measures are reconciled with comparable GAAP financial measures in our earnings release and regulatory filings from today, which can be found on our website. Following our prepared remarks, we'll take your questions. So with that, I'll turn the call over to Rob.

Thank you, Liz. Good morning, everyone, and thank you for joining us. AbbVie is off to an excellent start to the year, with first quarter results exceeding our expectations across our diverse portfolio. We are delivering top-tier growth, and continue to strengthen our long-term outlook with pipeline advancements and strategic transactions. Turning to our first quarter performance, we achieved adjusted earnings per share of $2.65, which is 7 cents above our guidance midpoint. Total net revenues were $15 billion, beating our expectations by $300 million and reflecting robust sales growth of 12.4%. I'm especially pleased with the momentum in immunology and neuroscience, which are both delivering share gains in growing markets. Based on this strong performance, we are raising our full year adjusted earnings per share guidance by 12 cents, and now expect adjusted EPS between $14.08 and $14.28. Turning now to R&D, we are making meaningful progress advancing programs across all stages of development. Recent highlights include the U.S. regulatory submissions of RENVOC for alopecia areata, giving us a potential new source of growth in dermatology, and SCI-RISI sub-Q induction in Crohn's, with an approval decision expected later this year. We also saw promising interim data from our Crohn's platform study combining Skyrizzy and our own Alpha-4-Beta-7, which has potential to deliver transformational efficacy. In obesity, we announced early-stage data for our amylin analog 295, with very encouraging weight loss results. In oncology, we are now expecting the regulatory submission for etentamig by the end of this year, which is earlier than our previous expectations. We also expanded our emerging oncology pipeline by closing the Remagen agreement, giving us a novel PD-1 VEGF bispecific antibody. We will continue to augment our portfolio with business development to access external innovation. And given our strong growth outlook, we have significant financial capacity to pursue both early and late stage opportunities. Lastly, As part of AbbVie's $100 billion commitment to US R&D and capital investments over the next decade, we recently announced construction of several new manufacturing sites. This includes a $1.4 billion investment to build a pharmaceutical manufacturing campus in North Carolina and a $380 million investment for two new plants in North Chicago. These strategic investments will strengthen AbbVie's ability to produce medical breakthroughs in immunology, neuroscience, oncology, and obesity. In summary, the fundamentals of our business are strong, and we are well-positioned to deliver top-tier growth for the long term. With that, I'll turn the call over to Jeff for additional comments on our commercial highlights. Jeff.