Key facts
- AbbVie reported Q2 adjusted EPS of $3.65 on revenue of $16.99 billion, exceeding analyst estimates.
- Skyrizi and Rinvoq sales increased by over 24% in the second quarter.
- AbbVie agreed to acquire Apogee Therapeutics for $10.9 billion to bolster its immunology pipeline.
- The company lowered its 2026 adjusted EPS forecast to $13.87-$14.07, citing the Apogee deal's dilutive impact.
- Humira sales declined 36% to $756 million in the second quarter.
AbbVie reported second-quarter financial results, exceeding analyst expectations for both earnings and revenue. The company posted adjusted earnings per share of $3.65 on revenue of $16.99 billion, driven by strong performance in its immunology portfolio, particularly from its drugs Skyrizi and Rinvoq, which saw sales increases of over 24%. This growth helped offset a significant decline in sales for its former top-seller, Humira, which fell 36% to $756 million.
In parallel, AbbVie announced a definitive agreement to acquire Apogee Therapeutics for $10.9 billion, its largest buyout in over five years. This acquisition aims to strengthen AbbVie's pipeline for inflammatory diseases. The company adjusted its 2026 profit forecast downward, now expecting adjusted earnings per share between $13.87 and $14.07, compared to the previous range of $13.91 to $14.11. This revision accounts for a $0.14 per share dilutive impact from the Apogee deal, though the company anticipates its existing businesses will offset 10 cents of this impact.
Analysts noted the strong performance of Skyrizi and Rinvoq, while also anticipating scrutiny regarding the Apogee acquisition given AbbVie's recent stock performance. The company also provided third-quarter earnings per share guidance of $3.84 to $3.88.