AbbVie Reports 10% Revenue Growth in Q2, Announces $10.9 Billion Apogee Acquisition
The pharmaceutical giant posted second-quarter revenues of $17 billion, driven by its immunology and neuroscience portfolios, while updating guidance to reflect the planned Apogee deal.
Strong Revenue Growth Across Key Portfolios
AbbVie Inc. reported second-quarter 2026 net revenues of $16.990 billion, representing a 10.2% increase on a reported basis or 9.5% on an operational basis, according to an 8-K filing disclosed July 31, 2026. The company posted diluted earnings per share of $2.03 on a GAAP basis, up 290.4%, and adjusted diluted EPS of $3.65, a 22.9% increase (8-K filing, 2026-07-31).
The immunology portfolio continued its momentum with global net revenues of $8.786 billion, up 15.1% on a reported basis. Skyrizi led the segment with $5.505 billion in revenues, growing 24.4%, while Rinvoq delivered $2.525 billion, up 24.5%. Meanwhile, legacy product Humira continued its decline with revenues of $756 million, down 35.9% (8-K filing, 2026-07-31).
Neuroscience Delivers Double-Digit Growth
The neuroscience portfolio posted $3.228 billion in revenues, a 20.3% increase on a reported basis. Vraylar generated $1.071 billion, up 18.9%, while Botox Therapeutic contributed $1.042 billion, up 12.2%. The migraine franchise, comprising Ubrelvy and Qulipta, delivered combined revenues of $742 million (8-K filing, 2026-07-31).
Oncology revenues totaled $1.650 billion, down 1.5% on a reported basis, reflecting competitive pressures. Venclexta grew 11.6% to $771 million, while Imbruvica declined 29.4% to $532 million. The aesthetics portfolio showed minimal growth at $1.282 billion, up just 0.3% reported or down 0.9% operationally, with Botox Cosmetic at $728 million and Juvederm at $245 million (8-K filing, 2026-07-31).
$10.9 Billion Apogee Acquisition Announced
AbbVie disclosed a definitive agreement to acquire Apogee Therapeutics at a total equity value of approximately $10.9 billion. The acquisition adds a pipeline of clinical-stage candidates targeting inflammatory and immunological diseases, including zumilokibart (APG777), a late-stage IL-13 antibody for atopic dermatitis, and APG273, a combination therapy for asthma. The transaction is expected to close in the third quarter of 2026 (8-K filing, 2026-07-31).
CEO Robert A. Michael stated: "We also announced the proposed acquisition of Apogee Therapeutics, which strengthens our ability to deliver innovative medicines to patients, bolsters our immunology leadership and creates significant shareholder value" (8-K filing, 2026-07-31).
Guidance Updated to Reflect Acquisition Impact
AbbVie updated its 2026 adjusted diluted EPS guidance range from $13.91-$14.11 to $13.87-$14.07, reflecting a $0.14 per share dilutive impact from the proposed Apogee acquisition. The guidance also includes an unfavorable impact of $0.58 per share related to acquired IPR&D and milestones expense incurred year-to-date through the second quarter (8-K filing, 2026-07-31).
MarginX data shows upcoming Federal Reserve rate decisions scheduled for September 16 and October 28, 2026, which could influence pharmaceutical sector valuations. Recent insider activity included stock awards to executives Edward J. Rapp and Susan E. Quaggin.
The company also announced multiple regulatory approvals during the quarter, including FDA and European Commission approvals for Skyrizi in pediatric psoriasis, Rinvoq for vitiligo and alopecia areata in Europe, and Decnupaz for blastic plasmacytoid dendritic cell neoplasm (8-K filing, 2026-07-31).
This article was generated by MarginX from the 8-K filing on 2026-07-31. It is not investment advice.