Strong Q2 Performance and Upgraded Revenue Guidance: AbbVie reported strong second-quarter net revenues of nearly $17 billion, a 10.2% operational increase, surpassing expectations. Management raised its full-year revenue guidance by $300 million to approximately $67.6 billion, reflecting confidence in ongoing business momentum.
Immunology and Neuroscience Drive Growth: The immunology portfolio, led by Skyrizi (up 24% operationally) and Rinvoq (up 23.7% operationally), continued its strong double-digit growth. The neuroscience portfolio also delivered robust growth of approximately 20%, with key products like Vraylar, Botox Therapeutic, Ubrelvy, and Qulipta showing significant sales increases.
Strategic Acquisition to Bolster Immunology: AbbVie announced the definitive agreement to acquire Apogee Therapeutics, an acquisition expected to strengthen its immunology pipeline with differentiated assets in dermatology and respiratory diseases.
EPS Impact from Acquisition and IPR&D: While adjusted diluted EPS of $3.65 exceeded the company's guidance midpoint, the full-year adjusted EPS guidance was updated to $13.87-$14.07, incorporating a $0.14 per share dilutive impact from the Apogee acquisition and a $0.58 per share unfavorable impact from acquired IPR&D and milestones expense.
Expected Declines in Humira, Oncology, and Aesthetics: Global Humira sales declined 36.1% operationally due to biosimilar competition, which was in line with expectations. Oncology revenues decreased by 2.4% operationally, largely due to a 29.4% decline in Imbruvica sales, and Aesthetics revenues saw a slight operational decrease of 0.9%.

Overall Takeaway
The Q2 2026 earnings call for AbbVie was broadly positive. The company demonstrated strong top-line growth driven by its key immunology and neuroscience franchises, leading to an increase in its full-year revenue guidance. While the announced acquisition of Apogee Therapeutics introduces a short-term dilutive impact on EPS, it strategically enhances AbbVie's long-term immunology pipeline, positioning the company for continued innovation and growth despite anticipated declines in mature products like Humira.

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