Larry Peepo – VP, IR Richard Gonzalez – Chairman and CEO William Chase – EVP and CFO

Good morning and thank you for standing by. Welcome to the AbbVie Second 2014 Earnings Conference Call. All participants will be able to listen-only. This conference is being recorded by AbbVie. I would now like to introduce Mr. Larry Peepo, Vice President of Investor Relations. You may begin sir.

Thank you. Good morning and thanks for joining us. On the call with me today are Rick Gonzalez, Chairman of the Board and Chief Executive Officer; and Bill Chase, Executive Vice President of Finance and Chief Financial Officer. Rick will begin by discussing AbbVie’s results from the second quarter and then provide an update on our pipeline and some of the key milestones we expect this year. Bill will give a more detailed review of our quarterly performance and then provide an overview of our 2014 outlook. As a reminder we are currently operating under the UK takeover code and will be until the Shire transaction is completed. The UK takeover code governs what we are able to disclose regarding the specifics of the transaction as well as the various aspects of AbbVie’s underlying business, including operating performance, product details and pipeline milestones. To help investors we have added a Q&A section to our earnings news release today which addresses a number of typical questions we receive. Due to the UK takeover code we will only be providing prepared remarks during our conference call today. There will not be a question-and-answer portion of today’s call. Before I turn the call over to Rick I remind you that some statements we make today may be considered forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Additional information about the factors that may affect AbbVie’s operations is included in our 2013 Annual Report on Form 10-K and in our other SEC filings. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments except as required by law. On today’s conference call as in the past non-GAAP financial measures will be used to help investors understand AbbVie’s ongoing business performance. These non-GAAP financial measures are reconciled with comparable GAAP financial measures in our regulatory filings which can be found on our website. And with that I’ll now turn the call over to Rick.

Thank you, Larry. Good morning and thank you for joining us this morning. We’re pleased to report a strong second quarter result with adjusted earnings per share of $0.82, exceeding our guidance range for the quarter. This included sales growth of nearly 5% also ahead of our outlook for the quarter despite the positive impact from loss of exclusivity in our lipid franchise. Sales growth was led by continued robust performance from HUMIRA and other key products including Synthroid, Sevoflurane and Duodopa. We have been pleased with our performance in the first-half of the year and as a reminder last month we raised our full year 2014 earnings per share guidance range to $3.06 to $3.16 on an adjusted basis, reflecting strong underlying business performance. Beyond our strong financial performance we had a very productive second quarter with a number of important pipeline advancements, clinical trial results and other strategic activities. We submitted our U.S. and EU regulatory applications for interferon-free HCV combination. Both applications are currently under active priority review. We continue to anticipate U.S. approval later this year and EMA authorization in early 2015. We are also working to advance our Next-Generation HCV assets which are currently in Phase 2 development. We expect data from the Phase 2/b program in 2015 and plan to start Phase 3 development next year as well. We have also made progress with several assets in our oncology pipeline. At the recent ASCO and EHA meetings we presented interim-results from our Phase 1 clinical trial of ABT-199 our BCL-2 inhibitor in combination with Rituxan in relapsed refractory CLL patients. The data showed an overall response rate of 84% and a complete response of 36% which compares favorably to trial results from other therapies in this patient population. This combination is being investigated in…

Thank you Rick. This morning I’ll review our second quarter performance and provide an update on our outlook for the remainder of 2014. As Rick said we are very pleased with our results this quarter. We exceeded our guidance on both the top and bottom line. Total sales increased 4.8% on an operational basis, excluding 0.2% favorable impact from foreign exchange. Excluding sales from our lipid franchise, due to loss of exclusivity total sales increased 12.3% on an operational basis. Humira delivered global sales of nearly $3.3 billion, up 25.4% on an operational basis and 26.2% on a reported basis. In the United States Humira sales increased 35.6% driven by continued market expansion, share gains and particularly strong growth in the gastro segment. Growth in the second quarter also benefited from retail buying patterns and a favorable comparison to the prior year. Second quarter wholesaler inventory levels remain at roughly two weeks consistent with the first quarter. We expect third quarter Humira sales growth in the U.S. to be reflective of underlying product demand and pricing trends, partially offset by a reduction in retail buying patterns. As a result we are forecasting high teens growth in the U.S. for Humira in the third quarter. Internationally Humira sales grew 16.2% on an operational basis and 17.8% on a reported basis. International growth continues to be driven by the uptake of new indications, share gains and double digit market growth in most markets. Performance in the quarter also benefited modestly from the timing of international shipments. We are forecasting low double digit growth for Humira internationally in the third quarter driven by strong underlying trends, partially offset by the timing of shipments in international markets. On a global basis we continue to expect double digit sales growth for Humira in 2014. AndroGel…

Thanks Bill. And that concludes today’s conference call. As a reminder we will not be opening the line for question but there is comprehensive Q&A in this morning’s earnings news release which can be found on our website, abbvieinvestor.com. Thanks again for joining us today.

Thank you. And this does conclude today’s conference. We thank you for your participation. At this time you may disconnect your lines.