Analysis of Stock Performance
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AbbVie's {{ m-tag option="price" ticker="ABBV" currency="USD" }} shares rose significantly, reaching an all-time high of $186.11, before stabilizing at around $183.25. This 4% increase is a testament to investor confidence in AbbVie's robust financial health and strategic direction, instilling a sense of confidence in the company's future.

Quarterly Financial Highlights
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In the second quarter, AbbVie reported revenues of $14.46 billion, exceeding analysts' expectations of $14.03 billion. The company earned $2.65 per share adjusted, surpassing estimates by 8 cents. Despite a 30% decline in global sales of Humira, AbbVie's flagship arthritis drug, the company outperformed market predictions with sales of $2.81 billion, above the $2.76 billion forecasted.

Transition to Newer Immunology Drugs
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AbbVie has been focusing on its newer immunology drugs, Skyrizi and Rinvoq, to mitigate the impact of declining Humira sales. Skyrizi's global sales surged 45% to $2.73 billion, beating expectations of $2.59 billion. Rinvoq also performed well, recording sales of $1.43 billion, surpassing Wall Street estimates of $1.36 billion. AbbVie now projects Skyrizi to achieve $11 billion in sales this year and Rinvoq $5.7 billion, reflecting increased market share and patient adoption.

Challenges and Strategic Responses
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AbbVie faces pressure on its cancer drug Imbruvica, which saw an 8% drop in sales to $833 million but still exceeded estimates of $789 million. Imbruvica is one of the first drugs selected for price negotiations under U.S. Medicare insurance plans, adding to the pricing pressure.

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