* 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.