AbbVie Reports Second-Quarter 2026 Financial Results
NORTH CHICAGO, Ill., July 31, 2026 /PRNewswire/ -- AbbVie (NYSE: ABBV) announced financial results for the second quarter ended June 30, 2026.
"AbbVie delivered another excellent quarter, marked by outstanding execution and pipeline advancement. 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," said Robert A. Michael, chairman and chief executive officer, AbbVie. "Based on our substantial momentum, AbbVie's long-term outlook remains very strong."
Second-Quarter Results
Note: "Operational" comparisons are presented at constant currency rates that reflect comparative local currency net revenues at the prior year's foreign exchange rates.
Recent Events
Full-Year 2026 Outlook
AbbVie is updating its adjusted diluted EPS guidance to include the impact of the proposed Apogee Therapeutics acquisition, which is expected to be $0.14 dilutive in 2026, based upon an anticipated close in the third quarter of this year. This dilution is partially offset by $0.10 of overperformance. As a result, AbbVie is updating its adjusted diluted EPS guidance range for the full year 2026 from $13.91 - $14.11 to $13.87 - $14.07, reflecting a change of $0.04 at the midpoint.
The company's 2026 adjusted diluted EPS guidance 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 2026. This guidance excludes any impact from acquired IPR&D and milestones that may be incurred beyond the second quarter of 2026, as both cannot be reliably forecasted.
About AbbVie
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas including immunology, neuroscience and oncology – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X and YouTube.
Conference Call
AbbVie will host an investor conference call today at 8:00 a.m. Central Time to discuss our second-quarter performance. The call will be webcast through AbbVie's Investor Relations website at investors.abbvie.com. An archived edition of the call will be available after 11:00 a.m. Central Time.
Non-GAAP Financial Results
Financial results for 2026 and 2025 are presented on both a reported and a non-GAAP basis. Reported results were prepared in accordance with generally accepted accounting principles in the United States (GAAP) and include all revenue and expenses recognized during the period. Non-GAAP results adjust for certain non-cash items and for factors that are unusual or unpredictable, and exclude those costs, expenses, and other specified items presented in the reconciliation tables later in this release. AbbVie's management believes non-GAAP financial measures provide useful information to investors regarding AbbVie's results of operations and assist management, analysts and investors in evaluating the performance of the business. Non-GAAP financial measures should be considered in addition to, and not as a substitute for, measures of financial performance prepared in accordance with GAAP.
Forward-Looking Statements
Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks related to the proposed acquisition of Apogee Therapeutics, Inc. ("Apogee"), including the possibility that such acquisition may not be consummated on the anticipated timeframe or at all, risks related to the ability to realize the anticipated benefits of the proposed acquisition on the anticipated timeframe or at all, risks that the costs to consummate the acquisition or to obtain the anticipated benefits of the proposed acquisition could be greater than expected, the failure to obtain applicable regulatory or Apogee stockholder approval in a timely manner or otherwise, the risk that an event occurs that could give rise to the right of AbbVie or Apogee to terminate the merger agreement, risks related to the ability of AbbVie and Apogee to successfully integrate the businesses and the possibility that such integration may be more difficult, time consuming or costly than expected, risks that the proposed acquisition disrupts Apogee's or AbbVie's current plans and operations and makes it more difficult to maintain business and operational relationships, the diversion of management's attention from ongoing business operations and opportunities due to the proposed transaction, negative effects of the consummation of the proposed acquisition on business or employee relationships or the market price of AbbVie's common stock and/or operating results, significant transaction costs, the assumption of unknown liabilities, the risk of litigation and/or regulatory actions related to the proposed acquisition, the risk that zumilokibart (APG777) or other Apogee pipeline assets may not demonstrate the anticipated success, safety, or efficacy in ongoing or future clinical trials, the risk that positive interim clinical trial results for zumilokibart (APG777) may not be predictive of results in later-stage or larger clinical trials, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to AbbVie's industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes, tariffs and other uncertainties and risks associated with global business operations. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's and Apogee's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2025 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information; and Item 1A, "Risk Factors," of Apogee's most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and in other documents that Apogee subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
Media:
Investors:
Marianne Ostrogorski
Liz Shea
(224) 240-6336
(847) 935-2211
Todd Bosse
(847) 936-1182
Jeffrey Byrne
(847) 938-2923
AbbVie Inc.
Key Product Revenues
Quarter Ended June 30, 2026
(Unaudited)
% Change vs. 2Q25
Net Revenues (in millions)
Reported
Operational a
U.S.
Int'l.
Total
U.S.
Int'l.
Total
Int'l.
Total
NET REVENUES
$12,861
$4,129
$16,990
9.3 %
12.8 %
10.2 %
10.2 %
9.5 %
Immunology
6,957
1,829
8,786
14.1
19.2
15.1
16.8
14.6
Skyrizi
4,767
738
5,505
24.0
27.3
24.4
24.2
24.0
Rinvoq
1,765
760
2,525
21.6
31.9
24.5
29.2
23.7
Humira
425
331
756
(47.0)
(12.5)
(35.9)
(13.2)
(36.1)
Neuroscience
2,771
457
3,228
18.8
29.9
20.3
25.7
19.8
Vraylar
1,068
3
1,071
18.9
30.1
18.9
28.5
18.9
Botox Therapeutic
864
178
1,042
11.4
16.2
12.2
12.5
11.6
Ubrelvy
379
13
392
15.0
54.9
16.0
52.5
15.9
Qulipta
289
61
350
22.1
>100.0
30.9
95.9
30.3
Vyalev
128
128
256
>100.0
67.7
>100.0
62.2
>100.0
Other Neuroscience
43
74
117
(38.6)
(8.9)
(22.7)
(12.4)
(24.6)
Oncology
936
714
1,650
(8.7)
9.9
(1.5)
7.6
(2.4)
Venclexta
369
402
771
14.8
8.8
11.6
5.0
9.6
Imbruvica b
337
195
532
(37.8)
(7.8)
(29.4)
(7.8)
(29.4)
Elahere
161
50
211
17.1
>100.0
33.1
>100.0
31.8
Epkinly c
36
67
103
62.4
39.7
46.8
41.7
48.1
Other Oncology
33
—
33
>100.0
n/m
>100.0
n/m
>100.0
Aesthetics
761
521
1,282
(4.4)
8.1
0.3
5.0
(0.9)
Botox Cosmetic
400
328
728
(2.4)
16.4
5.2
12.1
3.4
Juvederm Collection
103
142
245
(2.0)
(8.6)
(6.0)
(9.7)
(6.6)
Other Aesthetics
258
51
309
(8.3)
14.1
(5.2)
11.8
(5.5)
Other Key Products
761
174
935
(9.1)
(13.4)
(9.9)
(15.5)
(10.3)
Mavyret
133
162
295
(27.7)
(14.9)
(21.2)
(16.9)
(22.2)
Creon
345
—
345
(14.7)
n/m
(14.7)
n/m
(14.7)
Linzess
283
12
295
13.9
14.7
13.9
11.1
13.7
a
"Operational" comparisons are presented at constant currency rates that reflect comparative local currency net revenues
at the prior year's foreign exchange rates.
b
Reflects profit sharing for Imbruvica international revenues.
c
Epkinly U.S. revenues reflect profit sharing. International revenues reflect product revenues as well as profit sharing from
certain international territories.
n/m = not meaningful
AbbVie Inc.
Key Product Revenues
Six Months Ended June 30, 2026
(Unaudited)
% Change vs. 6M25
Net Revenues (in millions)
Reported
Operational a
U.S.
Int'l.
Total
U.S.
Int'l.
Total
Int'l.
Total
NET REVENUES
$23,830
$8,162
$31,992
9.6 %
16.2 %
11.2 %
10.7 %
9.9 %
Immunology
12,494
3,582
16,076
13.8
22.9
15.7
17.1
14.5
Skyrizi
8,542
1,446
9,988
26.3
33.1
27.3
26.0
26.3
Rinvoq
3,170
1,474
4,644
18.6
37.3
24.0
30.9
22.2
Humira
782
662
1,444
(49.4)
(12.4)
(37.2)
(15.3)
(38.2)
Neuroscience
5,230
873
6,103
21.5
32.0
22.9
23.9
21.8
Vraylar
1,970
6
1,976
18.6
45.6
18.6
41.1
18.6
Botox Therapeutic
1,706
345
2,051
13.9
16.3
14.3
9.7
13.2
Ubrelvy
709
22
731
26.1
43.3
26.5
39.1
26.4
Qulipta
539
107
646
31.9
>100.0
40.5
97.5
39.2
Vyalev
217
240
457
>100.0
80.7
>100.0
68.4
>100.0
Other Neuroscience
89
153
242
(38.8)
(5.2)
(21.2)
(12.0)
(24.8)
Oncology
1,818
1,463
3,281
(11.4)
16.4
(0.9)
11.5
(2.8)
Venclexta
710
831
1,541
12.0
15.0
13.6
7.5
9.6
Imbruvica b
669
419
1,088
(37.6)
(0.3)
(27.1)
(0.3)
(27.1)
Elahere
321
88
409
6.2
>100.0
21.2
>100.0
19.3
Epkinly c
61
125
186
42.7
59.0
53.3
57.3
52.2
Other Oncology
57
—
57
>100.0
n/m
>100.0
n/m
>100.0
Aesthetics
1,465
1,003
2,468
1.9
6.4
3.7
1.9
1.9
Botox Cosmetic
771
625
1,396
9.4
15.2
11.9
9.7
9.5
Juvederm Collection
188
289
477
3.9
(7.0)
(3.0)
(10.0)
(4.9)
Other Aesthetics
506
89
595
(8.3)
(0.9)
(7.3)
(4.5)
(7.8)
Other Key Products
1,577
353
1,930
7.1
(5.8)
4.5
(11.9)
3.3
Mavyret
316
330
646
(3.2)
(6.9)
(5.1)
(13.0)
(8.3)
Creon
706
—
706
(7.0)
n/m
(7.0)
n/m
(7.0)
Linzess
555
23
578
43.6
13.7
42.1
7.2
41.8
a
"Operational" comparisons are presented at constant currency rates that reflect comparative local currency net revenues
at the prior year's foreign exchange rates.
b
Reflects profit sharing for Imbruvica international revenues.
c
Epkinly U.S. revenues reflect profit sharing. International revenues reflect product revenues as well as profit sharing from
certain international territories.
n/m = not meaningful
AbbVie Inc.
Consolidated Statements of Earnings
(Unaudited)
(in millions, except per share data)
Second Quarter
Ended June 30
Six Months
Ended June 30
2026
2025
2026
2025
Net revenues
$ 16,990
$ 15,423
$ 31,992
$ 28,766
Cost of products sold
4,291
4,346
8,509
8,348
Selling, general and administrative
3,632
3,253
7,210
6,546
Research and development
2,344
2,131
4,816
4,198
Acquired IPR&D and milestones
291
823
1,035
1,071
Other operating income
—
(24)
—
(24)
Total operating costs and expenses
10,558
10,529
21,570
20,139
Operating earnings
6,432
4,894
10,422
8,627
Interest expense, net
679
678
1,324
1,305
Other expense, net
1,475
2,662
3,781
4,107
Earnings before income tax expense
4,278
1,554
5,317
3,215
Income tax expense
662
613
1,004
985
Net earnings
3,616
941
4,313
2,230
Net earnings attributable to noncontrolling interest
3
3
5
6
Net earnings attributable to AbbVie Inc.
$ 3,613
$ 938
$ 4,308
$ 2,224
Diluted earnings per share attributable to AbbVie Inc.
$ 2.03
$ 0.52
$ 2.42
$ 1.24
Adjusted diluted earnings per share a
$ 3.65
$ 2.97
$ 6.30
$ 5.43
Weighted-average diluted shares outstanding
1,771
1,771
1,773
1,772
a
Refer to the Reconciliation of GAAP Reported to Non-GAAP Adjusted Information for further details.
AbbVie Inc.
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
(Unaudited)
1. Specified items impacted results as follows:
Quarter Ended June 30, 2026
(in millions, except per share data)
Earnings
Diluted
Pre-tax
After-tax a
EPS
As reported (GAAP)
$ 4,278
$ 3,613
$ 2.03
Adjusted for specified items:
Intangible asset amortization
1,689
1,436
0.81
Change in fair value of contingent consideration
1,518
1,479
0.83
Other
128
(37)
(0.02)
As adjusted (non-GAAP)
$ 7,613
$ 6,491
$ 3.65
a Represents net earnings attributable to AbbVie Inc. Specified items reflect the impact of applicable statutory tax rates.
Reported GAAP earnings and adjusted non-GAAP earnings for the three months ended June 30, 2026 included acquired IPR&D
and milestone expense of $291 million on a pre-tax and $288 million on an after-tax basis, representing an unfavorable impact of
$0.17 to both diluted EPS and adjusted diluted EPS.
2. The impact of the specified items by line item was as follows:
Quarter Ended June 30, 2026
(in millions)
Cost of
products
sold
SG&A
R&D
Other
expense,
net
As reported (GAAP)
$ 4,291
$ 3,632
$ 2,344
$ 1,475
Adjusted for specified items:
Intangible asset amortization
(1,689)
—
—
—
Change in fair value of contingent consideration
—
—
—
(1,518)
Other
(4)
(58)
(30)
(36)
As adjusted (non-GAAP)
$ 2,598
$ 3,574
$ 2,314
$ (79)
3. The adjusted tax rate for the second quarter of 2026 was 14.7 percent, as detailed below:
Quarter Ended June 30, 2026
(dollars in millions)
Pre-tax
earnings
Income taxes
Tax rate
As reported (GAAP)
$ 4,278
$ 662
15.5 %
Specified items
3,335
457
13.7 %
As adjusted (non-GAAP)
$ 7,613
$ 1,119
14.7 %
AbbVie Inc.
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
(Unaudited)
1. Specified items impacted results as follows:
Quarter Ended June 30, 2025
(in millions, except per share data)
Earnings
Diluted
Pre-tax
After-tax a
EPS
As reported (GAAP)
$ 1,554
$ 938
$ 0.52
Adjusted for specified items:
Intangible asset amortization
1,864
1,571
0.89
Change in fair value of contingent consideration
2,795
2,709
1.53
Other
91
60
0.03
As adjusted (non-GAAP)
$ 6,304
$ 5,278
$ 2.97
a Represents net earnings attributable to AbbVie Inc. Specified items reflect the impact of applicable statutory tax rates.
Reported GAAP earnings and adjusted non-GAAP earnings for the three months ended June 30, 2025 included acquired IPR&D
and milestone expense of $823 million on a pre-tax and $737 million on an after-tax basis, representing an unfavorable impact of
$0.42 to both diluted EPS and adjusted diluted EPS.
2. The impact of the specified items by line item was as follows:
Quarter Ended June 30, 2025
(in millions)
Cost of
products
sold
SG&A
R&D
Other
operating
income
Other
expense,
net
As reported (GAAP)
$ 4,346
$ 3,253
$ 2,131
$ (24)
$ 2,662
Adjusted for specified items:
Intangible asset amortization
(1,864)
—
—
—
—
Change in fair value of contingent consideration
—
—
—
—
(2,795)
Other
(69)
(14)
(16)
24
(16)
As adjusted (non-GAAP)
$ 2,413
$ 3,239
$ 2,115
$ —
$ (149)
3. The adjusted tax rate for the second quarter of 2025 was 16.2 percent, as detailed below:
Quarter Ended June 30, 2025
(dollars in millions)
Pre-tax
earnings
Income taxes
Tax rate
As reported (GAAP)
$ 1,554
$ 613
39.4 %
Specified items
4,750
410
8.6 %
As adjusted (non-GAAP)
$ 6,304
$ 1,023
16.2 %
AbbVie Inc.
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
(Unaudited)
1. Specified items impacted results as follows:
Six Months Ended June 30, 2026
(in millions, except per share data)
Earnings
Diluted
Pre-tax
After-tax a
EPS
As reported (GAAP)
$ 5,317
$ 4,308
$ 2.42
Adjusted for specified items:
Intangible asset amortization
3,437
2,934
1.66
Change in fair value of contingent consideration
3,905
3,804
2.14
Other
523
156
0.08
As adjusted (non-GAAP)
$ 13,182
$ 11,202
$ 6.30
a Represents net earnings attributable to AbbVie Inc. Specified items reflect the impact of applicable statutory tax rates.
Reported GAAP earnings and adjusted non-GAAP earnings for the six months ended June 30, 2026 included acquired IPR&D
and milestones expense of $1.0 billion on a pre-tax and after-tax basis, representing an unfavorable impact of $0.58 to both
diluted EPS and adjusted diluted EPS.
2. The impact of the specified items by line item was as follows:
Six Months Ended June 30, 2026
(in millions)
Cost of
products
sold
SG&A
R&D
Other
expense,
net
As reported (GAAP)
$ 8,509
$ 7,210
$ 4,816
$ 3,781
Adjusted for specified items:
Intangible asset amortization
(3,437)
—
—
—
Change in fair value of contingent consideration
—
—
—
(3,905)
Other
(12)
(235)
(234)
(42)
As adjusted (non-GAAP)
$ 5,060
$ 6,975
$ 4,582
$ (166)
3. The adjusted tax rate for the first six months of 2026 was 15.0 percent, as detailed below:
Six Months Ended June 30, 2026
(dollars in millions)
Pre-tax
earnings
Income taxes
Tax rate
As reported (GAAP)
$ 5,317
$ 1,004
18.9 %
Specified items
7,865
971
12.3 %
As adjusted (non-GAAP)
$ 13,182
$ 1,975
15.0 %
AbbVie Inc.
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
(Unaudited)
1. Specified items impacted results as follows:
Six Months Ended June 30, 2025
(in millions, except per share data)
Earnings
Diluted
Pre-tax
After-tax a
EPS
As reported (GAAP)
$ 3,215
$ 2,224
$ 1.24
Adjusted for specified items:
Intangible asset amortization
3,722
3,145
1.78
Change in fair value of contingent consideration
4,313
4,186
2.36
Other
153
93
0.05
As adjusted (non-GAAP)
$ 11,403
$ 9,648
$ 5.43
a Represents net earnings attributable to AbbVie Inc. Specified items reflect the impact of applicable statutory tax rates.
Reported GAAP earnings and adjusted non-GAAP earnings for the six months ended June 30, 2025 included acquired IPR&D
and milestones expense of $1.1 billion on a pre-tax and $975 million on an after-tax basis, representing an unfavorable impact
of $0.55 to both diluted EPS and adjusted diluted EPS.
2. The impact of the specified items by line item was as follows:
Six Months Ended June 30, 2025
(in millions)
Cost of
products
sold
SG&A
R&D
Other
operating
income
Other
expense,
net
As reported (GAAP)
$ 8,348
$ 6,546
$ 4,198
$ (24)
$ 4,107
Adjusted for specified items:
Intangible asset amortization
(3,722)
—
—
—
—
Change in fair value of contingent consideration
—
—
—
—
(4,313)
Other
(97)
(27)
(32)
24
(21)
As adjusted (non-GAAP)
$ 4,529
$ 6,519
$ 4,166
$ —
$ (227)
3. The adjusted tax rate for the first six months of 2025 was 15.3 percent, as detailed below:
Six Months Ended June 30, 2025
(dollars in millions)
Pre-tax
earnings
Income taxes
Tax rate
As reported (GAAP)
$ 3,215
$ 985
30.6 %
Specified items
8,188
764
9.3 %
As adjusted (non-GAAP)
$ 11,403
$ 1,749
15.3 %
SOURCE AbbVie