11:45 AM EDT, 07/31/2026 (MT Newswires) -- AbbVie ( ABBV ) lowered its full-year earnings guidance on Friday to account for the expected dilution from its planned acquisition of Apogee Therapeutics ( APGE ) , despite reporting stronger-than-expected second-quarter results.

The biopharmaceutical company now expects earnings per share of $13.87 to $14.07 for 2026, compared with its prior estimate of $13.91 to $14.11. The updated guidance's midpoint of $13.97 falls short of the FactSet-polled consensus of $14.06.

AbbVie ( ABBV ) expects the proposed acquisition of Apogee, which was announced last month and is expected to close in the third quarter, to be $0.14 dilutive this year. The all-cash transaction valued at about $10.9 billion will give AbbVie ( ABBV ) access to Apogee's portfolio of clinical-stage candidates currently in development for the treatment of inflammatory and immunological diseases, including potential atopic dermatitis therapy zumilokibart.

"That is more than offsetting our underlying overperformance," Chief Financial Officer Scott Reents said at an earnings call, according to a FactSet transcript, referring to the anticipated dilution.

AbbVie's ( ABBV ) stock was down 1.3% intraday, trimming the year-to-date gain to about 11%.

Adjusted EPS for the June quarter rose to $3.65 from $2.97 a year earlier, surpassing the consensus of $3.60. Net revenue grew 10% to $16.99 billion, while analysts expected $16.78 billion.

"AbbVie ( ABBV ) delivered another excellent quarter, marked by outstanding execution and pipeline advancement," Chief Executive Robert Michael said in the earnings release. "Based on our substantial momentum, AbbVie's ( ABBV ) long-term outlook remains very strong."

Earlier this month, Johnson & Johnson ( JNJ ) raised its full-year outlook after reporting better-than-expected second-quarter results, driven by growth in its innovative medicine and medical device businesses. On Thursday, Bristol-Myers Squibb ( BMY ) also raised its full-year guidance after reporting second-quarter results.

AbbVie's ( ABBV ) immunology portfolio generated $8.79 billion in global sales during the second quarter, up 15% year over year, with Skyrizi and Rinvoq both delivering more than 20% growth in revenue to offset weak Humira sales.

Global sales from the neuroscience segment jumped 20% to $3.23 billion, while revenue in the aesthetics portfolio increased 0.3% to $1.28 billion. Oncology portfolio sales fell 1.5% to $1.65 billion.

The company expects third-quarter revenue of $17.2 billion, lower than the FactSet-polled consensus of $17.35 billion. Adjusted EPS for the ongoing quarter is expected between $3.84 and $3.88, compared with Wall Street's estimate of $3.87.

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