AbbVie Lowers Annual Guidance Following Apogee Therapeutics Acquisition

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• ABBV

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AbbVie (ABBV) reported second-quarter net revenues of $16.990 billion, an increase of 10.2% compared to the same period last year [1][2]. The result followed a sequential rise from $15.002 billion in the first quarter [1][2].

Adjusted diluted earnings per share rose 22.9% year-over-year to $3.65 [1][2]. This figure increased from $2.65 in the prior quarter [1][2]. The company reported an adjusted operating margin ratio of 48.3% and an adjusted gross margin ratio of 84.7% for the period [3].

Growth in the immunology portfolio, which saw revenues rise 15.1% to $8.786 billion, helped offset the continued decline of Humira [1][4]. Skyrizi and Rinvoq contributed $5.505 billion and $2.525 billion respectively, with both drugs seeing reported growth of approximately 24% [1][4]. Humira revenues fell 35.9% to $756 million [1][4].

Neuroscience revenues grew 20.3% to $3.228 billion [1][4]. Vraylar reached $1.071 billion, up 18.9% year-over-year, while Botox Therapeutic rose 12.2% to $1.042 billion [1][4].

Oncology revenues decreased 1.5% to $1.650 billion [1][4][3]. 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 [1][4][3]. 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 [1][3].

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 [1][5]. The $0.04 decrease at the midpoint accounts for a $0.14 per share dilutive impact from the acquisition of Apogee Therapeutics [1][5].

The company entered a definitive agreement to acquire Apogee Therapeutics for a total equity value of approximately $10.9 billion [1][6]. The transaction is expected to close in the third quarter of 2026 [1][6].

Citations

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  2,ABBV,ex_99_1,2026-04-29,0001551152-26-000013,filing
  3,ABBV,ex_99_1,2026-07-31,0001551152-26-000023,filing
  4,ABBV,ex_99_1,2026-07-31,0001551152-26-000023,filing
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