AbbVie Lowers Annual Guidance Following Apogee Therapeutics Acquisition
The biopharmaceutical company reported second-quarter net revenues of $16.990 billion, a 10.2% increase from a year ago.
AbbVie (ABBV) reported second-quarter net revenues of $16.990 billion, an increase of 10.2% compared to the same period last year. The result followed a sequential rise from $15.002 billion in the first quarter.
Adjusted diluted earnings per share rose 22.9% year-over-year to $3.65. This figure increased from $2.65 in the prior quarter. The company reported an adjusted operating margin ratio of 48.3% and an adjusted gross margin ratio of 84.7% for the period.
Growth in the immunology portfolio, which saw revenues rise 15.1% to $8.786 billion, helped offset the continued decline of Humira. Skyrizi and Rinvoq contributed $5.505 billion and $2.525 billion respectively, with both drugs seeing reported growth of approximately 24%. Humira revenues fell 35.9% to $756 million.
Neuroscience revenues grew 20.3% to $3.228 billion. Vraylar reached $1.071 billion, up 18.9% year-over-year, while Botox Therapeutic rose 12.2% to $1.042 billion.
Oncology revenues decreased 1.5% to $1.650 billion. A 29.4% drop in Imbruvica sales to $532 million offset gains from Venclexta, which rose 11.6% to $771 million, and Elahere, which grew 33.1% to $211 million. Aesthetics revenues remained essentially flat at $1.282 billion, as a 5.2% increase in Botox Cosmetic to $728 million was countered by a 6.0% decline in Juvederm to $245 million.
AbbVie lowered its full-year 2026 adjusted diluted EPS guidance to a range of $13.87 to $14.07, down from the previous range of $13.91 to $14.11. The $0.04 decrease at the midpoint accounts for a $0.14 per share dilutive impact from the acquisition of Apogee Therapeutics.
The company entered a definitive agreement to acquire Apogee Therapeutics for a total equity value of approximately $10.9 billion. The transaction is expected to close in the third quarter of 2026.