AbbVie reported a third-quarter beat and raised its full-year profit outlook, with immunology and neuroscience driving the outperformance. Total sales came in at $17.4 billion and earnings per share at $3.82, both above consensus estimates, as the company continued trading near all-time highs. In immunology, Skyrizi delivered 23% growth year over year to $5.7 billion, and AbbVie increased guidance for the franchise. Rinvoq also grew 24% in the quarter, offsetting continued erosion from Humira. In neuroscience, AbbVie pointed to 19% year-over-year growth to $3.4 billion in Q3 revenue, citing performance from Vraylar, Vyalev, Qulipta and Ubrelvy. CEO Rob Michael said AbbVie has capacity for additional acquisitions but prefers bolt-on transactions over a repeat of the 2020 Allergan mega-deal. Analysts characterized the results as keeping the momentum going, reinforcing the company’s position to reallocate capital toward targeted additions across existing franchises.