AbbVie Adds Third-Quarter IPR&D Charge to 2026 Outlook
The company lowered full-year adjusted diluted EPS guidance to $13.76–$13.96 after $216 million of third-quarter acquired IPR&D and milestones expense, a $0.11 a-share hit.
AbbVie (ABBV) lowered its 2026 adjusted diluted earnings-per-share outlook after recording $216 million of acquired IPR&D and milestones expense in the third quarter, a $0.11-a-share charge that took the full-year range to $13.76–$13.96 from the $13.87–$14.07 band issued after the second quarter.
The prior range already included $1,035 million of year-to-date IPR&D and milestones expense through the second quarter. Adding the third-quarter charge lifted that cumulative figure to $1,251 million. The company said its 2026 adjusted diluted EPS guidance excludes any acquired IPR&D and milestones expense that may be incurred beyond the third quarter, as neither can be reliably forecast.
Third-quarter IPR&D and milestones expense of $216 million was down from $291 million in the second quarter, when the charge had been $0.17 a share.
In the second quarter, the biopharmaceutical company reported worldwide net revenues of $16.990 billion, up 10.2% on a reported basis or 9.5% on an operational basis. GAAP diluted EPS was $2.03, up 290.4%; adjusted diluted EPS was $3.65, up 22.9%, including the $0.17-a-share IPR&D impact.
Immunology remained the largest franchise. Global net revenues from the immunology portfolio were $8.786 billion, up 15.1% reported or 14.6% operational. Skyrizi contributed $5.505 billion, Rinvoq $2.525 billion, and Humira $756 million.
Neuroscience net revenues were $3.228 billion, up 20.3% reported or 19.8% operational. Vraylar was $1.071 billion, Botox Therapeutic $1.042 billion, Ubrelvy $392 million, Qulipta $350 million, and Vyalev $256 million.
Oncology net revenues were $1.650 billion, down 1.5% reported or 2.4% operational. Venclexta was $771 million, Imbruvica $532 million, and Elahere $211 million.
Aesthetics net revenues were $1.282 billion, up 0.3% reported or down 0.9% operational. Botox Cosmetic was $728 million and Juvederm $245 million.
Chairman and chief executive officer Robert A. Michael said AbbVie delivered another excellent quarter, marked by outstanding execution and pipeline advancement, and that the company’s long-term outlook remains very strong.
The company also announced a definitive agreement to acquire Apogee Therapeutics, expected to close in the third quarter of 2026, with a $0.14-a-share dilutive impact folded into 2026 adjusted EPS guidance. Michael said the deal strengthens AbbVie’s ability to deliver innovative medicines, bolsters immunology leadership, and creates significant shareholder value.
The second-quarter guidance update had already trimmed the full-year adjusted diluted EPS range from $13.91–$14.11 to $13.87–$14.07, incorporating the $0.14 Apogee dilution and the $0.58-a-share unfavorable IPR&D impact incurred year to date through the second quarter.
The third-quarter IPR&D charge of $216 million, down from $291 million in the second quarter, was the incremental item that moved the full-year band to $13.76–$13.96.
The company’s 2026 adjusted diluted EPS guidance still excludes acquired IPR&D and milestones expense that may be incurred beyond the third quarter.