AbbVie (NYSE:ABBV) reported second-quarter 2026 results that exceeded its expectations, supported by double-digit growth in its immunology and neuroscience businesses, and raised its full-year revenue outlook by $300 million.
Chairman and Chief Executive Officer Rob Michael said adjusted earnings per share totaled $3.65, or $0.06 above the midpoint of the company’s guidance. Net revenues were nearly $17 billion, exceeding AbbVie’s expectations by $300 million and increasing 10.2% year over year. Foreign exchange contributed a 0.7% favorable impact to quarterly revenue growth.
Guidance Raised as Core Products Gain Momentum
Chief Financial Officer Scott Reents said AbbVie now expects approximately $67.6 billion in full-year net revenue, reflecting a $300 million increase from its prior forecast and a roughly 0.5% favorable foreign-exchange impact on annual sales growth. The company has raised total revenue guidance by $600 million since the beginning of the year, according to Michael.
AbbVie updated its full-year adjusted earnings outlook to a range of $13.87 to $14.07 per share. The revised projection includes a $0.10 improvement related to the existing business, offset by $0.14 of anticipated dilution from the planned acquisition of Apogee Therapeutics.
The company expects the Apogee transaction to close in the third quarter. Reents said AbbVie has secured interim financing and expects to issue long-term debt in the coming months. The company remains committed to reaching a net leverage ratio of two times within two to three years after closing the deal.
For the third quarter, AbbVie forecast net revenue of about $17.2 billion and adjusted earnings per share of $3.84 to $3.88. That outlook includes a projected 0.4% unfavorable currency impact and partial-quarter dilution related to the planned Apogee acquisition.
- SKYRIZI full-year revenue is expected to reach $21.7 billion, up $100 million from the prior outlook.
- Total neuroscience revenue is projected at $12.7 billion, also up $100 million, including VRAYLAR sales approaching $4.1 billion and BOTOX Therapeutic sales approaching $4.2 billion.
- The remaining $100 million of the revenue guidance increase reflects momentum from RINVOQ and VENCLEXTA.
Immunology Revenue Climbs, HUMIRA Continues to Decline
Chief Commercial Officer Jeff Stewart said immunology revenue totaled nearly $8.8 billion during the quarter, increasing 14.6% on an operational basis. SKYRIZI sales reached $5.5 billion, up 24% operationally, while RINVOQ sales exceeded $2.5 billion, increasing 23.7% operationally.
SKYRIZI continued to gain share in psoriasis and inflammatory bowel disease, according to Stewart. He said the product has achieved market-share leadership in more than 30 countries and continues to lead total new patient starts in the U.S. IBD market, including in frontline treatment.
AbbVie is preparing for a potential U.S. approval of subcutaneous induction dosing for SKYRIZI in Crohn’s disease later this fall. Research and Development Chief Scientific Officer Roopal Thakkar said the regulatory review was proceeding according to plan and that the company had no concerns at the time of the call.
Stewart said the subcutaneous induction option could accelerate SKYRIZI’s capture rate in IBD by combining strong efficacy data with a more convenient reimbursement pathway for certain physicians. He expects the commercial effect to build over several months, with more visible momentum beginning in early 2027.
Meanwhile, HUMIRA global sales were $756 million, down 36.1% operationally due to biosimilar competition. AbbVie said that performance was in line with its expectations.
AbbVie also highlighted recent European approvals of RINVOQ in vitiligo and alopecia areata. U.S. decisions are expected later in 2026 for vitiligo and early 2027 for alopecia areata. Michael said the company now expects the two indications to generate combined peak sales approaching $2 billion, above prior expectations.
Neuroscience and Parkinson’s Programs Advance
Neuroscience revenue exceeded $3.2 billion, rising about 20% operationally. VRAYLAR sales were nearly $1.1 billion, up approximately 19%, supported by share gains in bipolar disorder and adjunctive major depressive disorder.
AbbVie’s migraine products—BOTOX Therapeutic, UBRELVY and QULIPTA—each posted double-digit sales growth. QULIPTA was approved in Europe for acute migraine treatment as well as once-daily preventive use in chronic or episodic migraine.
In Parkinson’s disease, Vyalev sales totaled $256 million, rising more than 27% sequentially. AbbVie said Vyalev remains on track for blockbuster sales this year. The company expects an FDA decision in the third quarter for tavapadon, a selective D1/D5 dopamine agonist for motor symptoms in Parkinson’s disease.
Stewart said tavapadon’s initial launch could be modest because the timing of a potential approval would delay placement on Medicare formularies. Still, AbbVie expects its Parkinson’s portfolio of Vyalev, tavapadon and DUOPA to exceed $5 billion in collective peak sales.
Oncology Pipeline and Aesthetics Developments
Oncology revenue was more than $1.6 billion, down 2.4% operationally. VENCLEXTA sales increased 9.6% operationally to $771 million. Growth from ELAHERE, Tepkinly and EMRELIS partly offset a 29.4% operational decline in IMBRUVICA sales, which AbbVie attributed to IRA pricing and competitive pressure.
The company also launched DECNUPAZ following FDA approval for blastic plasmacytoid dendritic cell neoplasm, an ultra-rare blood cancer. AbbVie described DECNUPAZ as its first marketed antibody-drug conjugate in hematology.
Thakkar outlined further development plans for Temab-A, including an actively recruiting phase III trial in third-line-plus colorectal cancer in combination with bevacizumab. AbbVie expects phase II data later this year from a study of Temab-A combinations versus chemotherapy in second-line colorectal cancer.
In aesthetics, revenue was nearly $1.3 billion, down 0.9% operationally. BOTOX Cosmetic revenue increased 3.4% operationally to $728 million, while JUVÉDERM revenue declined 6.6% operationally to $245 million amid continued pressure in dermal fillers.
AbbVie recently received approvals in Europe and Canada for Boey, a short-acting aesthetic toxin intended for temporary improvement of glabellar lines. The company said it views the product as a potential way to expand the toxin market by allowing patients to preview cosmetic toxin treatment without a long-lasting result.
About AbbVie (NYSE:ABBV)
AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.
AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.
