Episode Details

For years, investors feared the "Humira Cliff"—the moment AbbVie’s top-selling drug lost patent protection. Well, Q4 2025 is in, and it looks like the cliff is officially cancelled. In this episode, Susie and Miro unpack how Skyrizi has completely taken the baton, smashing through the $5 billion quarterly revenue mark and proving the replacement strategy is not just working-it’s accelerating. 🚀

But the biggest story isn't on the balance sheet; it’s in Washington. We break down the massive, "voluntary" agreement AbbVie just signed with the Trump administration. Did they really trade $100 billion in investment promises for a "Get Out of Tariffs Free" card? We analyze whether this political maneuvering has created the ultimate competitive moat while rivals worry about trade wars.

Plus, we look at the hidden gem in the portfolio (the Neuroscience boom led by Vyalev), why the "Zombie" Humira actually *grew* revenue this quarter, and the one red flag warning about the broader economy: the failure of the "Lipstick Effect" as consumers pull back on Botox and fillers. 💉📉

It’s the unvarnished truth about a pharma giant that just reinvented itself mid-flight.