AbbVie 8-K

Summary

Q2 2026 results with lower FY2026 adjusted EPS guidance and a proposed Apogee Therapeutics acquisition. Revenue grew 10.2% reported, led by immunology and neuroscience, while AbbVie lowered its full-year adjusted EPS range partly to include the acquisition’s expected dilution. The Apogee deal is expected to close in Q3 2026.

Key Figures

• Immunology revenue was $8.79B (+15.1% reported; +14.6% operational), with Skyrizi at $5.51B and Rinvoq at $2.53B; neuroscience revenue was $3.23B (+20.3%). Oncology revenue fell 1.5% to $1.65B, while aesthetics rose 0.3% to $1.28B.
• AbbVie agreed to acquire Apogee for approximately $10.9B in total equity value. Apogee’s pipeline includes late-stage IL-13 antibody zumilokibart (APG777) and asthma candidate APG273.
• Acquired IPR&D and milestones expense was $291M in Q2, an unfavorable $0.17 per share impact on both GAAP and adjusted diluted EPS.

Guidance

• FY2026 adjusted diluted EPS guidance: $13.87-$14.07, lowered from $13.91-$14.11; midpoint down $0.04. The update includes $0.14 per share of expected Apogee-related dilution, partly offset by $0.10 of overperformance. Guidance includes a $0.58 per share unfavorable impact from acquired IPR&D and milestones incurred through Q2, and excludes any such expense after Q2.

Investor Takeaways

• Watch for the anticipated Q3 2026 Apogee acquisition closing; completion would bring the pipeline assets into AbbVie’s portfolio and realize the dilution included in FY2026 guidance.
• Track whether Skyrizi and Rinvoq growth continues to offset Humira’s decline, alongside trends in oncology revenue.