AbbVie maintains strong momentum in immunology, with Skyrizi and Rinvoq offsetting Humira declines and driving double-digit revenue growth. I reaffirm a 'Strong Buy' rating, supported by expanding indications for Skyrizi in Crohn's Disease and Rinvoq in alopecia areata and vitiligo. Skyrizi's subcutaneous induction for Crohn's Disease, validated by phase 3 AFFIRM data, targets further market share and revenue acceleration.