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AbbVie trims 2026 profit forecast on Apogee buy, beats second-quarter estimates
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AbbVie trims 2026 profit forecast on Apogee buy, beats second-quarter estimates
Jul 31, 2026 5:22 AM

* Sees 2026 EPS hit of 14 cents from planned Apogee deal

* Quarterly revenue rose above forecasts to $16.99 billion

* Humira sales dropped 36% to $756 million, still tops

estimate

* Skyrizi and Rinvoq beat expectations too

July 31 (Reuters) - AbbVie ( ABBV ) on Friday trimmed its

2026 profit forecast to account for its planned Apogee

Therapeutics ( APGE ) acquisition, while topping second-quarter estimates

on strong immunology drug sales.

In June, AbbVie ( ABBV ) agreed to buy Apogee for $10.9 billion, the

company's largest buyout in more than five years, as it seeks to

bolster its treatment pipeline for inflammatory diseases like

atopic dermatitis and asthma.

The company, which expects to close the deal in the third

quarter, forecast 2026 earnings to be reduced by 14 cents per

share.

AbbVie ( ABBV ) has bet on acquisitions to counter declining demand

for former top-selling drug Humira following biosimilar

competition, while bracing for patent expirations of immunology

drugs Skyrizi and Rinvoq.

North Chicago-based company AbbVie ( ABBV ) last year also bought an

experimental psychedelic-based depression drug from Gilgamesh

Pharmaceuticals for up to $1.2 billion.

The drugmaker now expects annual adjusted profit of $13.87

to $14.07, compared to its prior view of $13.91 to $14.11 per

share. Analysts on average were expecting $14.08 per share,

according to LSEG data.

The company earned an adjusted profit of $3.65 per share in

the quarter ended June 30, compared to an estimated $3.60 per

share. Quarterly revenue came in at $16.99 billion, above

estimates of $16.77 billion.

Global sales of Humira fell 36% to $756 million. Analysts

expected $732.4 million.

Skyrizi recorded sales of $5.51 billion, growing 24.4%,

compared to Wall Street estimates of $5.45 billion. Rinvoq sales

grew 24.5% to $2.53 billion, which beat estimates of $2.48

billion.

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