Rob Michael : And Gary, this is Rob. On your question regarding 2025 guidance, we do periodically update the long-term guidance for our portfolio. We’re obviously very pleased with the momentum we’re seeing both from Skyrizi and RNA, particularly in — if you recall when we provided — last time we provided guidance for Skyrizi, we had about $2.5 billion of revenue in IBD in 2025 and it was $1.8 billion for Rinvoq. And those are obviously ramping very nicely. We have a lot of confidence. We periodically update that guidance, we’ll find the right time to provide a holistic update to our long-term guy. But clearly, the momentum is there. And the Street reflects that, too. I mean if I look at consensus, not for Skyrizi, I think it’s around $11 billion. So it’s $1 billion higher than our 2025 guide. So I think the market is recognizing the strong momentum, and we’ll update that long-term guide holistically at the appropriate time.
Operator: Next question comes from Luisa Hector with Berenberg.
Luisa Hector : To continue with IBD, I just wondered if you could talk a little bit more about the AbbVie pipeline emerging behind Skyrizi and Rinvoq and how we think about that and maybe potential combinations with Skyrizi? And with the recent competitor launch in psoriasis with a label where the FDA has asked to mention anti-TNF safety warnings. I wondered whether the FDA has mentioned anything to you about the review of labor in that regard. .
Roopal Thakkar: It’s Roople. I’ll take the IBD question. So you’ve heard already some mention of Lutikizumab. That’s our IL-1 alpha beta bispecific antibody. That’s an in-house antibody. And we have observed data where there’s resistance to anti-TNF and other biologics with patients with 1 beta signal. So we’ll be entering into ulcerative colitis looking at a potential biomarker approach. But in addition to that, we will also be looking at a set of combinations as was already mentioned, for example, with Skyrizi, we have Lutikizumab. We have other agents as well. RIPK1 was also mentioned. There’s also some partnerships that we have is another mechanism we’re interested in. And another one I’ll mention is an IL-2 mutein. All of these are under assessment.
And we do believe either you find a biomarker approach where you can see the high efficacy or if you want to see real transformational efficacy, you’re going to have to go a combination approach. So those are the assets we’ll be looking at. Now moving on to the question, I think it was around depression and suicidal ideation if I heard it correctly. This was in an IL-17 class agent that was recently approved. We’ve also observed a similar warning and precaution previously also in the IL-17 class. In fact, that previous asset, in fact, had a REMS in place. Remember, Skyrizi is an anti-IL-23 very different class. And to date, with all the data that’s been generated across numerous indications, we don’t see that type of signal at all nor do we have any of that in our label.
And as we look at psoriasis therapy, that particular agent that’s been mentioned has been available in Europe and our physicians really don’t tell us that there’s much of an uptake there. So Skyrizi continues to perform well. Also, our label does not have the high rate of fungal infections that have been observed with the new 1 in the ’17 class — and also, we’ve talked a lot about IBD. We — the Skyrizi doesn’t also lead to IBD, which is another risk for the IL-17 class. And also with our dosing regimen — you get it at 0 and week 4, and then it’s quarterly after that. With the new one, I think there’s 5 doses that are required and potentially every 8 weeks or in heavier patients every 4 weeks. So we’re very confident in Skyrizi’s position across indications, especially in psoriasis.
Operator: Our next question comes from David Risinger with Leerink Partners.
David Risinger : Upon your vision for oncology, clearly, the company has compelling assets. But in light of an increasingly complex and competitive oncology landscape, could you just paint a picture of how you see your portfolio evolving and opportunities to acquire assets when it may be difficult to see what’s around the corner from, let’s say, an emerging oncology competitor in 3 to 4 years?
Tom Hudson : This is Tom Hudson. We’ve been — we certainly — when we talk about 400, we’re also talking about going in different space than lung and breast, where there’s a lot of competition, like colon cancer, gastric cancer, pancreas. So c-Met is a target that’s expressed in many other tumors, and that’s why we’ve developed this with topo warhead, so we can go to a broader set of tumors. And that’s where we’re seeing a very good data with ABBV-400 even unselected patient population, third line plus, we saw a 22% response versus 2% to 3%. What’s also interesting about this is — it’s not just for colon cancer, but most chemos, most treatments and GI tumors have a lot of toxicity, a lot of diarrhea. And one of the things that excite the clinicians about this program is actually a very low rate of diarrhea.
So what makes that not only can we see some efficacy in third line, but it sees we can move to earlier lines and combined with other therapies have higher efficacy. So there’s a lot of unmet need in GI tumors. And so this data, again, we’re going to have more data in our next cohort at the end of this year. In CRC will have different doses, and we’ll also have potential cutoffs of biomarkers. So moving very well, but we’re actually in a big space, in GI tumors, as I’ve mentioned, even our GARP program, also where we’ve shown the best data is in liver cancer, where c-Met is also expressed. We have opportunities to go explore places where there’s a big unmet need and the competition is not the same. Now the other targets because we talked about topo platform.
We have others, 706, which is already in the clinic with 6. Next year, we’ll be going to 2 other indications, which for which there’s less competition in terms of ADC space. So our strategy is actually to go and bring this in offering to a lot more cancer patients. I’ll stop there, and I’ll stop there.
Roopal Thakkar : It’s Roopal. Let me add on a little bit. I think you may be also reflecting on some of the ESMO data that came out I will mention long a little bit, we still see an opportunity with Teliso-V. We’re going to get data later this year. But what we’ve already observed is 50% ORRs in a biomarker-selected population in the EGFR wild type. If you look at some of the data that has come out, the ORRs are probably right around 20% to 30%. We don’t have all the breakdown of all the different lung subtypes. But 1 approach is to use a biomarker and then select the patient population rather than going so broadly that was observed at ESMO. The other thing I would say reflecting on the data that came out, if you looked at EGFR mutants in lung, you see some higher levels of efficacy, either in the frontline or second line in that space.
