AbbVie Q2 Revenue Hits $17B, Skyrizi and Rinvoq Drive 10% Growth; Apogee Financing in Place
ABBV sits 30% above its 52-week low of $189.785.
Summary
AbbVie's Q2 revenue rose 10% to $16.99B, with Skyrizi and Rinvoq leading growth. Diluted EPS jumped to $2.03 from $0.52 a year ago. The company disclosed Botox will be subject to Medicare price negotiation starting in 2028 and has secured a $10B term loan for the pending Apogee acquisition.
Key Events · Earnings and Guidance · ABBV
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Q2 Revenue Tops $16.99B
Worldwide net revenues grew 10.2% year-over-year to $16.99 billion, driven by Skyrizi (+24%) and Rinvoq (+25%). Humira continued its decline, falling 36% to $756 million.
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Earnings Surge on Lower Tax Rate
Diluted EPS was $2.03, up from $0.52 in Q2 2025. The effective tax rate dropped to 15% from 39%, primarily due to a smaller impact from contingent consideration fair-value changes.
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Botox Selected for Medicare Price Negotiation
The Inflation Reduction Act will subject Botox to government-set prices in Medicare Parts B and D beginning in 2028, a new regulatory headwind for the $2.1 billion (H1) franchise.
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Apogee Acquisition Financing Secured
AbbVie entered into a $10 billion 364-day senior unsecured term loan facility to fund the $10.9 billion Apogee Therapeutics acquisition, expected to close in Q3 2026.
Analysis · ABBV · Life Sciences
A strong second quarter saw revenue climb 10% to $16.99 billion, powered by immunology stars Skyrizi and Rinvoq. Earnings per share nearly quadrupled from the prior year, helped by a lower tax rate and a smaller hit from contingent consideration fair-value adjustments. The company also disclosed that Botox will face Medicare price negotiation starting in 2028, a new regulatory overhang. With the $10.9 billion Apogee acquisition on track to close this quarter, AbbVie has lined up a $10 billion term loan, signaling confidence in its deal financing. The results reinforce the narrative that the post-Humira growth engine is firing, but the IRA price-setting on Botox introduces a fresh long-term risk.
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In the 30 days to Oct 19, 2026, 37.9% of the 895 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, ABBV was trading at $246.39 on NYSE in the Life Sciences sector, with a market capitalization of approximately $435.3B. The 52-week trading range was $189.79 to $267.47. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.