What's your overall take and what stood out to you?

I think w- what, what really stood out is how strong their, uh, innovative medicines division has been doing.

That's what's been driving a lot of that growth.

It looks like they're hitting, uh, on pretty much all those, o- o- on all cylinders of that business.

Their main products across their oncology and immunology franchises, I mean, those are two of the biggest, fastest-growing markets, those are the markets you want to be in.

Their main franchise products like Darzalex for multiple myeloma, Tremfya for, uh, ulce- ulce- ulcerative coli- colitis, and Crohn's disease, they're continuing to pace their, uh, their portfolio.

So they're in the fast-growing markets with compelling products, and they're executing on expanding the indications and usage for their main franchises.

Does that bother you at all?

What is that saying to you about their long-term growth and the pipeline that they have moving forward?

Yeah, no, it points out that they've been able to continue to maintain the patients, but continue to invest in their pipeline and to identify and have that follow-up drug available and ready to come out before their drug loses patent expiration so they can They can get a jump on transferring the patients over.

And of course, the drugs have to give additional benefit as well from safety or efficacy or just convenience standpoint.

And they've been able to execute on that across multiple products.

and arthur last question to you and we're a little bit tight on time but i see you have a triple eight rate a triple a rating on j and j but do you have any concerns about their ongoing litigation over their talc product and how much of an overhang that presents for the stock

Yeah, I think investors will have to get comfortable with the fact that there will be periodic headlines coming out of there.

I mean, the talc litigation, they've been frustrated.

J&J has been frustrated in their past attempts to try to bring closure to it.

What's your overall take when you look at first blush of this results?

Now, it looks like it's another strong quarter for AbbVie, and management has been really executing on its plan.

Like you said, it generated 8% operational growth this past quarter.

Now, we have an A- stable outlook for AbbVie, and it's one of the companies that we have pretty limited concerns on from a ratings perspective.

Now, its immunology franchise continues to lead the way.

It was up 11.2% this past quarter from an operational standpoint.

And Skyrizzy and Rynvo, their two immunology drugs, have been two of the more successful recent launches in the industry.

How do you see that playing out at AbbVie? Do you see them potentially negotiating with the government similar to Pfizer?

Art, can you let us know the main trends and drivers that are really top of mind for healthcare investors right now?

Sure.

I think the big focus for health care from an industry standpoint, but not just from an industry standpoint, but also from a societal and legislative standpoint, is the rising cost of health care.

You see that, and it's coming from the growth in demand, the growth in the population, and just also the increasingly aging population that we have around the world.

And a big challenge is how do we control those costs while ensuring a high quality of care? And that growth as well, that demand, has also led to burnout amongst nurses, amongst doctors.

I think everybody knows that you've read of a shortage in health care labor.

And just to put into perspective, health care spending in the U.S. consumes 18 percent of GDP.

Art, to what extent are the major healthcare companies considering wearable technology? Is it seen as a fad or a long-term structural trend?