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AbbVie (NYSE: ABBV) lifts 2026 EPS guidance after double-digit Q1 growth

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

AbbVie reported strong first-quarter 2026 results, with worldwide net revenues of $15.002 billion, up 12.4% year over year on a reported basis (10.3% operational). Growth was driven by immunology and neuroscience, while oncology was flat and aesthetics grew modestly.

Immunology net revenues were $7.290 billion, up 16.4%, led by Skyrizi at $4.483 billion and Rinvoq at $2.119 billion, which more than offset a 38.6% decline in Humira to $688 million. Neuroscience net revenues rose 26.0% to $2.875 billion, with Botox Therapeutic at $1.009 billion and combined Ubrelvy/Qulipta at $635 million.

On a GAAP basis, diluted EPS was $0.39, down 45.8%, while adjusted diluted EPS rose 7.7% to $2.65, including an unfavorable $0.41 per-share impact from acquired IPR&D and milestones expense. AbbVie raised its full-year 2026 adjusted EPS guidance to a range of $14.08–$14.28.

Positive

  • Raised full-year 2026 outlook: AbbVie increased its 2026 adjusted diluted EPS guidance range from $13.96–$14.16 to $14.08–$14.28, signaling stronger expected profitability despite higher acquired IPR&D and milestones expense.
  • Broad-based revenue growth: Q1 2026 net revenues rose 12.4% to $15.002 billion, with immunology up 16.4% and neuroscience up 26.0%, demonstrating strong momentum in key growth portfolios.

Negative

  • None.

Insights

Double-digit revenue growth and a higher 2026 EPS outlook highlight AbbVie’s Q1 strength despite GAAP EPS pressure.

AbbVie delivered Q1 2026 net revenues of $15.002 billion, up 12.4% reported, with especially strong contributions from immunology and neuroscience. Skyrizi and Rinvoq together generated $6.602 billion, while neuroscience products like Botox Therapeutic and migraine therapies also posted robust growth.

GAAP diluted EPS fell to $0.39 due largely to higher acquired IPR&D and milestones expense of $744 million, but adjusted diluted EPS increased to $2.65, up 7.7%. The adjusted operating margin of 40.8% and an adjusted tax rate of 15.4% show solid underlying profitability.

Management raised full-year 2026 adjusted EPS guidance from $13.96–$14.16 to $14.08–$14.28, including the $0.41 per-share IPR&D impact incurred year-to-date. This, along with continued Humira erosion and mixed oncology trends, sets expectations that future filings will clarify how newer franchises offset legacy declines.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Item 10.3 Item 10.3
Item 11.3 Item 11.3
Net revenues $15.002 billion Worldwide net revenues, Q1 2026, up 12.4% reported
GAAP diluted EPS $0.39 Q1 2026, down 45.8% year over year
Adjusted diluted EPS $2.65 Q1 2026, up 7.7% year over year
Immunology net revenues $7.290 billion Q1 2026, up 16.4% reported
Skyrizi net revenues $4.483 billion Global Q1 2026, up 30.9% reported
Humira net revenues $688 million Global Q1 2026, down 38.6% reported
Neuroscience net revenues $2.875 billion Global Q1 2026, up 26.0% reported
2026 adjusted EPS guidance $14.08–$14.28 Full-year 2026 adjusted diluted EPS range, raised from $13.96–$14.16
acquired IPR&D and milestones expense financial
"These results include an unfavorable impact of $0.41 per share related to acquired IPR&D and milestones expense."
Costs a company records when it buys another party’s unfinished research and development projects and agrees to pay extra amounts if those projects hit future milestones. Think of it as paying for a partly built prototype plus promised success bonuses; the upfront payment is an acquisition expense and the milestone commitments are future liabilities. Investors watch these figures because they can reduce reported profits today, affect cash flow and balance-sheet risk, and signal potential future product value if the R&D succeeds.
adjusted diluted EPS financial
"Adjusted diluted EPS of $2.65, an increase of 7.7 percent;"
Adjusted diluted EPS is a company’s profit per share after adding back or removing one-time items (like restructuring costs or gains) and dividing by the number of shares including potential shares from options and convertible securities. Investors use it as a cleaner view of ongoing earnings—like looking at a car’s regular fuel efficiency rather than a trip boosted by downhill coasting—to judge underlying performance and compare companies without temporary distortions.
operational basis financial
"an increase of 12.4 Percent on a Reported Basis or 10.3 Percent on an Operational Basis"
Complete Response Letter regulatory
"AbbVie announced it received a Complete Response Letter (CRL) from the FDA regarding the Biologics License Application (BLA) for trenibotulinumtoxinE"
A complete response letter is an official communication from a drug or medical-device regulator, such as the U.S. Food and Drug Administration (FDA), telling a company that a marketing application cannot be approved in its current form and listing the specific deficiencies to be fixed. For investors it matters because it pauses or delays a product’s path to market—like a building inspector issuing a list of repairs before a certificate of occupancy—affecting revenue timing, costs and stock value.
supplemental new drug application regulatory
"the FDA approved a supplemental new drug application (sNDA) for the combination regimen of Venclexta and acalabrutinib"
A supplemental new drug application is a request submitted to regulatory authorities to make changes to an existing approved medication, such as adding new uses, strengths, or formulations. For investors, it signals that a pharmaceutical company is seeking approval for new product developments or expanded applications, which can impact the company's future sales, market potential, and stock value.
non-GAAP financial
"Financial results for 2026 and 2025 are presented on both a reported and a non-GAAP basis."
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
Net revenues $15.002 billion +12.4% reported YoY
GAAP diluted EPS $0.39 -45.8% YoY
Adjusted diluted EPS $2.65 +7.7% YoY
Guidance

AbbVie raised full-year 2026 adjusted diluted EPS guidance from $13.96–$14.16 to $14.08–$14.28, including a $0.41 per-share unfavorable impact from acquired IPR&D and milestones expense incurred year-to-date.

Understanding 8-K Material Events →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _____________________________________________________
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): April 29, 2026
 
ABBVIE INC.
(Exact name of registrant as specified in its charter)
Delaware 001-35565 32-0375147
(State or other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation)   Identification No.)
 _____________________________________________________
1 North Waukegan Road
North Chicago, Illinois 60064-6400
(Address of principal executive offices)(Zip Code)
 
Registrant’s telephone number, including area code:  (847) 932-7900
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐                      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐                      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐                      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐                      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.01 Par Value ABBV New York Stock Exchange
NYSE Texas
0.750% Senior Notes due 2027ABBV27New York Stock Exchange
2.125% Senior Notes due 2028ABBV28New York Stock Exchange
2.625% Senior Notes due 2028ABBV28BNew York Stock Exchange
2.125% Senior Notes due 2029ABBV29New York Stock Exchange
1.250% Senior Notes due 2031ABBV31New York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   


Item 2.02  Results of Operations and Financial Condition
 
On April 29, 2026, AbbVie Inc. issued a press release announcing financial results for the first quarter ended March 31, 2026.  A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits
Exhibit No. Exhibit
99.1
 
Press Release dated April 29, 2026 (furnished pursuant to Item 2.02).
104The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).



SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  ABBVIE INC.
   
Date:April 29, 2026By:/s/ Scott T. Reents
  Scott T. Reents
  Executive Vice President,
  Chief Financial Officer

 



abbvieimage1a53.jpg



PRESS RELEASE

AbbVie Reports First-Quarter 2026 Financial Results

•Reports First-Quarter Diluted EPS of $0.39 on a GAAP Basis, a Decrease of 45.8 Percent; Adjusted Diluted EPS of $2.65, an Increase of 7.7 Percent; These Results Include an Unfavorable Impact of $0.41 Per Share Related to Acquired IPR&D and Milestones Expense

•Delivers First-Quarter Net Revenues of $15.002 Billion, an Increase of 12.4 Percent on a Reported Basis or 10.3 Percent on an Operational Basis

•First-Quarter Global Net Revenues from the Immunology Portfolio Were $7.290 Billion, an Increase of 16.4 Percent on a Reported Basis, or 14.3 Percent on an Operational Basis; Global Skyrizi Net Revenues Were $4.483 Billion; Global Rinvoq Net Revenues Were $2.119 Billion; Global Humira Net Revenues Were $688 Million

•First-Quarter Global Net Revenues from the Neuroscience Portfolio Were $2.875 Billion, an Increase of 26.0 Percent on a Reported Basis, or 24.3 Percent on an Operational Basis; Global Vraylar Net Revenues Were $905 Million; Global Botox Therapeutic Net Revenues Were $1.009 Billion; Combined Global Ubrelvy and Qulipta Net Revenues Were $635 Million; Global Vyalev Net Revenues Were $201 Million

•First-Quarter Global Net Revenues from the Oncology Portfolio Were $1.631 Billion, a Decrease of 0.2 Percent on a Reported Basis, or 3.0 Percent on an Operational Basis; Global Venclexta Net Revenues Were $770 Million; Global Imbruvica Net Revenues Were $556 Million; Global Elahere Net Revenues Were $198 Million

•First-Quarter Global Net Revenues from the Aesthetics Portfolio Were $1.186 Billion, an Increase of 7.6 Percent on a Reported Basis, or 5.1 Percent on an Operational Basis; Global Botox Cosmetic Net Revenues Were $668 Million; Global Juvederm Net Revenues Were $232 Million

•Raises 2026 Adjusted Diluted EPS Guidance Range from $13.96 - $14.16 to $14.08 - $14.28, which Includes an Unfavorable Impact of $0.41 Per Share Related to Acquired IPR&D and Milestones Expense Incurred Year-To-Date Through the First Quarter 2026
 
NORTH CHICAGO, Ill., April 29, 2026 – AbbVie (NYSE:ABBV) announced financial results for the first quarter ended March 31, 2026.
 
“We are off to an excellent start in 2026, with first-quarter results exceeding our expectations. AbbVie’s key growth drivers continue to deliver strong performance and support our enhanced full-year outlook,” said Robert A. Michael, chairman and chief executive officer, AbbVie. “We are also generating exciting data and advancing numerous programs across all stages of development. Our pipeline progress and solid business fundamentals position AbbVie for robust long-term growth.”

Note: "Operational" comparisons are presented at constant currency rates that reflect comparative local currency net revenues at the prior year's foreign exchange rates.1

First-Quarter Results

•Worldwide net revenues were $15.002 billion, an increase of 12.4 percent on a reported basis, or 10.3 percent on an operational basis.

•Global net revenues from the immunology portfolio were $7.290 billion, an increase of 16.4 percent on a reported basis, or 14.3 percent on an operational basis.
◦Global Skyrizi net revenues were $4.483 billion, an increase of 30.9 percent on a reported basis, or 29.2 percent on an operational basis.
◦Global Rinvoq net revenues were $2.119 billion, an increase of 23.3 percent on a reported basis, or 20.2 percent on an operational basis.
◦Global Humira net revenues were $688 million, a decrease of 38.6 percent on a reported basis, or 40.3 percent on an operational basis.

•Global net revenues from the neuroscience portfolio were $2.875 billion, an increase of 26.0 percent on a reported basis, or 24.3 percent on an operational basis.
◦Global Vraylar net revenues were $905 million, an increase of 18.4 percent.
◦Global Botox Therapeutic net revenues were $1.009 billion, an increase of 16.5 percent on a reported basis, or 14.9 percent on an operational basis.
◦Global Ubrelvy net revenues were $339 million, an increase of 41.4 percent on a reported basis, or 41.2 percent on an operational basis.
◦Global Qulipta net revenues were $296 million, an increase of 53.6 percent on a reported basis, or 51.3 percent on an operational basis.
◦Global Vyalev net revenues were $201 million.

•Global net revenues from the oncology portfolio were $1.631 billion, a decrease of 0.2 percent on a reported basis, or 3.0 percent on an operational basis.
◦Global Venclexta net revenues were $770 million, an increase of 15.7 percent on a reported basis, or 9.7 percent on an operational basis.
◦Global Imbruvica net revenues were $556 million, a decrease of 24.7 percent.
◦Global Elahere net revenues were $198 million, an increase of 10.7 percent on a reported basis, or 8.3 percent on an operational basis.

•Global net revenues from the aesthetics portfolio were $1.186 billion, an increase of 7.6 percent on a reported basis, or 5.1 percent on an operational basis.
◦Global Botox Cosmetic net revenues were $668 million, an increase of 20.2 percent on a reported basis, or 17.0 percent on an operational basis.
◦Global Juvederm net revenues were $232 million, an increase of 0.4 percent on a reported basis, or a decrease of 2.9 percent on an operational basis.

•On a GAAP basis, the gross margin ratio in the first quarter was 71.9 percent. The adjusted gross margin ratio was 83.6 percent.

•On a GAAP basis, selling, general and administrative (SG&A) expense was 23.9 percent of net revenues. The adjusted SG&A expense was 22.7 percent of net revenues.

•On a GAAP basis, research and development (R&D) expense was 16.5 percent of net revenues. The adjusted R&D expense was 15.1 percent of net revenues.

•Acquired IPR&D and milestones expense was 5.0 percent of net revenues.

•On a GAAP basis, the operating margin ratio in the first quarter was 26.6 percent. The adjusted operating margin ratio was 40.8 percent.

•Net interest expense was $645 million.

•On a GAAP basis, the tax rate in the quarter was 32.9 percent. The adjusted tax rate was 15.4 percent.

•Diluted earnings per share (EPS) in the first quarter was $0.39 on a GAAP basis. Adjusted diluted EPS, excluding specified items, was $2.65. These results include an unfavorable impact of $0.41 per share related to acquired IPR&D and milestones expense.
Note: "Operational" comparisons are presented at constant currency rates that reflect comparative local currency net revenues at the prior year's foreign exchange rates.
2

Recent Events

•AbbVie announced it submitted an application to the U.S. Food and Drug Administration (FDA) seeking approval for Skyrizi (risankizumab) for subcutaneous (SC) induction in the treatment of adult patients with moderately to severely active Crohn’s disease (CD). AbbVie expects an approval decision later this year, which would offer adult CD patients an additional option for induction of Skyrizi. The submission is supported by data from the Phase 3 AFFIRM study evaluating the efficacy and safety of Skyrizi SC induction in adult patients with moderately to severely active CD. In the study, Skyrizi achieved superiority for the co-primary and ranked secondary endpoints at week 12 for induction delivered by SC injection versus placebo. The safety profile of Skyrizi SC induction was consistent with its known profile in CD, with no new safety risks observed.

•AbbVie announced it submitted an application to the FDA for a new indication for Rinvoq (upadacitinib) in the treatment of adult and adolescent patients with severe alopecia areata (AA). The submission is supported by data from the Phase 3 UP-AA clinical program in which Rinvoq achieved the primary endpoint as well as key secondary endpoints.

•At the 2026 American Academy of Dermatology (AAD) Annual Meeting, AbbVie presented key data reinforcing the company's leadership in advancing standards of care across immune-mediated skin diseases. Presentations showcased the efficacy and safety of Skyrizi in psoriatic disease, real-world evidence of minimal disease activity and clinical long-term safety outcomes of Rinvoq in atopic dermatitis (AD), as well as Phase 3 data for Rinvoq in vitiligo and AA. The company also presented data highlighting the safety and efficacy of new and emerging products in AbbVie's aesthetics portfolio, including trenibotulinumtoxinE.

•AbbVie announced the FDA approved a supplemental new drug application (sNDA) for the combination regimen of Venclexta (venetoclax) and acalabrutinib for the treatment of previously untreated adult patients with chronic lymphocytic leukemia (CLL). This approval establishes the Venclexta and acalabrutinib combination as the first all-oral, fixed-duration regimen for previously untreated CLL, offering patients the potential of time off treatment. The approval is supported by data from the Phase 3 AMPLIFY trial.

•At the Society of Gynecologic Oncology (SGO) Annual Meeting, AbbVie presented Phase 2 data for Elahere in platinum-sensitive ovarian cancer (PSOC). Results from the IMGN853-0420 trial showed a more than 60 percent objective response rate (ORR) and consistent safety findings with Elahere plus carboplatin followed by a continuation of Elahere monotherapy in patients with folate receptor alpha (FRα)-expressing PSOC. These findings highlight Elahere’s potential expanding role across the ovarian cancer treatment continuum.

•AbbVie announced it received a Complete Response Letter (CRL) from the FDA regarding the Biologics License Application (BLA) for trenibotulinumtoxinE (trenibotE), a first-in-class botulinum neurotoxin serotype E with a rapid onset of effect and short duration. In its letter, the FDA requested additional information about manufacturing processes. The CRL does not identify any safety or efficacy concerns for trenibotE and does not request additional clinical studies. AbbVie is confident that it can address the FDA's comments promptly and expects to submit a thorough response in the coming months.

•AbbVie announced positive topline results from the multiple ascending dose (MAD) part of its Phase 1 study evaluating the safety, tolerability, pharmacokinetics and pharmacodynamics of ABBV-295, in adults with a mean body mass index (BMI) of less than 30 kg/m2. In the study, ABBV-295 treatment showed clinically meaningful body weight reduction at week 12 (weekly dosing) and week 13 (every other week and monthly dosing after week 5). ABBV-295 also demonstrated a favorable tolerability profile at all evaluated dose levels, with no serious adverse events reported. Data support continued development of ABBV-295 as a potentially differentiated treatment for chronic weight management, with a non-incretin-based mechanism of action.

•AbbVie announced a $1.4 billion investment to build a 185-acre pharmaceutical manufacturing campus in Durham, North Carolina. The state-of-the-art campus will integrate advanced manufacturing and laboratory technologies with artificial intelligence (AI) to support the production of AbbVie’s immunology, neuroscience and oncology medicines.



3

Recent Events (Continued)

•AbbVie announced a $380 million investment to build two new active pharmaceutical ingredient (API) manufacturing facilities at its North Chicago, Illinois, campus. These state-of-the-art facilities will integrate advanced manufacturing technologies with AI to support the production of AbbVie's next-generation neuroscience and obesity medications.

•AbbVie announced the opening of the Allergan Medical Institute (AMI) Training Center in Austin, Texas. This location marks the third U.S. AMI Training Center opened in the last year, reflecting AbbVie's continued investment in aesthetics training and education.

Full-Year 2026 Outlook

AbbVie is raising its adjusted diluted EPS guidance for the full year 2026 from $13.96 - $14.16 to $14.08 - $14.28, which includes an unfavorable impact of $0.41 per share related to acquired IPR&D and milestones expense incurred year-to-date through the first quarter 2026. The company's 2026 adjusted diluted EPS guidance excludes any impact from acquired IPR&D and milestones that may be incurred beyond the first quarter of 2026, as both cannot be reliably forecasted.
About AbbVie

AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas including immunology, neuroscience and oncology – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X and YouTube.

Conference Call
 
AbbVie will host an investor conference call today at 8:00 a.m. Central Time to discuss our first-quarter performance. The call will be webcast through AbbVie’s Investor Relations website at investors.abbvie.com. An archived edition of the call will be available after 11:00 a.m. Central Time.

Non-GAAP Financial Results
 
Financial results for 2026 and 2025 are presented on both a reported and a non-GAAP basis. Reported results were prepared in accordance with generally accepted accounting principles in the United States (GAAP) and include all revenue and expenses recognized during the period. Non-GAAP results adjust for certain non-cash items and for factors that are unusual or unpredictable, and exclude those costs, expenses, and other specified items presented in the reconciliation tables later in this release. AbbVie’s management believes non-GAAP financial measures provide useful information to investors regarding AbbVie’s results of operations and assist management, analysts and investors in evaluating the performance of the business. Non-GAAP financial measures should be considered in addition to, and not as a substitute for, measures of financial performance prepared in accordance with GAAP.



4

Forward-Looking Statements
Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “project” and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to AbbVie's industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes, tariffs and other uncertainties and risks associated with global business operations. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie’s operations is set forth in Item 1A, “Risk Factors,” of AbbVie’s 2025 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
 
Media:Investors:
Gabby TarbertLiz Shea
(224) 244-0111(847) 935-2211
  
 Todd Bosse
 (847) 936-1182
  
 Jeffrey Byrne
 (847) 938-2923


5

AbbVie Inc.
Key Product Revenues
Quarter Ended March 31, 2026
(Unaudited)
    % Change vs. 1Q25
 Net Revenues (in millions)Reported
Operationala
U.S.Int’l.TotalU.S.Int’l.TotalInt’l.Total
NET REVENUES$10,969$4,033$15,0029.9%19.9%12.4%11.4%10.3%
Immunology5,5371,7537,29013.426.916.417.314.3
Skyrizi3,7757084,48329.339.830.928.029.2
Rinvoq1,4057142,11915.143.423.332.620.2
Humira357331688(52.0)(12.3)(38.6)(17.4)(40.3)
Neuroscience2,4594162,87524.734.426.021.824.3
Vraylar902390518.267.618.458.918.4
Botox Therapeutic8421671,00916.516.316.56.714.9
Ubrelvy330933941.729.241.422.941.2
Qulipta2504629645.4>100.053.699.751.3
Vyalev89112201>100.098.3>100.076.9>100.0
Other Neuroscience4679125(38.9)(1.5)(19.6)(11.7)(24.8)
Oncology8827491,631(14.1)23.4(0.2)15.7(3.0)
Venclexta3414297709.221.415.710.19.7
Imbruvicab
332224556(37.4)7.2(24.7)7.2(24.7)
Elahere16038198(2.9)>100.010.7>100.08.3
Epkinlyc
25588322.189.362.081.857.6
Other Oncology24—24n/mn/mn/mn/mn/m
Aesthetics7044821,1869.84.57.6(1.5)5.1
Botox Cosmetic37129766825.813.920.27.117.0
Juvederm Collection8514723212.2(5.3)0.4(10.3)(2.9)
Other Aesthetics24838286(8.4)(15.7)(9.4)(20.5)(10.1)
Other Key Products81617999528.53.023.0(7.9)20.7
Mavyret18316835128.32.414.5(8.6)8.6
Creon361—3611.8n/m1.8n/m1.8
Linzess2721128396.912.791.53.090.9
a "Operational" comparisons are presented at constant currency rates that reflect comparative local currency net revenues at the prior year's foreign exchange rates.
b Reflects profit sharing for Imbruvica international revenues.
c Epkinly U.S. revenues reflect profit sharing. International revenues reflect product revenues as well as profit sharing from certain international territories.
n/m = not meaningful

6

AbbVie Inc.
Consolidated Statements of Earnings
(Unaudited)
 
(in millions, except per share data) First Quarter
Ended March 31
20262025
Net revenues$15,002 $13,343 
Cost of products sold4,218 4,002 
Selling, general and administrative3,578 3,293 
Research and development2,472 2,067 
Acquired IPR&D and milestones744 248 
Total operating costs and expenses11,012 9,610 
Operating earnings3,990 3,733 
Interest expense, net645 627 
Other expense, net2,306 1,445 
Earnings before income tax expense1,039 1,661 
Income tax expense342 372 
Net earnings697 1,289 
Net earnings attributable to noncontrolling interest2 3 
Net earnings attributable to AbbVie Inc.$695 $1,286 
Diluted earnings per share attributable to AbbVie Inc.$0.39 $0.72 
Adjusted diluted earnings per sharea
$2.65 $2.46 
Weighted-average diluted shares outstanding1,774 1,772 

a    Refer to the Reconciliation of GAAP Reported to Non-GAAP Adjusted Information for further details.




7

AbbVie Inc.
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
(Unaudited)
1. Specified items impacted results as follows:
 Quarter Ended March 31, 2026
(in millions, except per share data)EarningsDiluted
 Pre-tax
After-taxa
EPS
As reported (GAAP)$1,039 $695 $0.39 
Adjusted for specified items:   
Intangible asset amortization1,748 1,498 0.85 
Change in fair value of contingent consideration 2,387 2,325 1.31 
Other395 193 0.10 
As adjusted (non-GAAP)$5,569 $4,711 $2.65 
a     Represents net earnings attributable to AbbVie Inc. Specified items reflect the impact of applicable statutory tax rates.
Reported GAAP earnings and adjusted non-GAAP earnings for the three months ended March 31, 2026 included acquired IPR&D and milestones expense of $744 million on a pre-tax and $738 million on an after-tax basis, representing an unfavorable impact of $0.41 to both diluted EPS and adjusted diluted EPS.
2. The impact of the specified items by line item was as follows: 
 Quarter Ended March 31, 2026
(in millions)Cost of products soldSG&AR&DOther expense, net
As reported (GAAP)$4,218 $3,578 $2,472 $2,306 
Adjusted for specified items:
Intangible asset amortization(1,748)— — — 
Change in fair value of contingent consideration — — — (2,387)
Other(8)(177)(204)(6)
As adjusted (non-GAAP)
$2,462 $3,401 $2,268 $(87)
3. The adjusted tax rate for the first quarter of 2026 was 15.4 percent, as detailed below:
 Quarter Ended March 31, 2026
(dollars in millions)Pre-tax earningsIncome taxesTax rate
As reported (GAAP)$1,039 $342 32.9 %
Specified items4,530 514 11.3 %
As adjusted (non-GAAP)
$5,569 $856 15.4 %

8

AbbVie Inc.
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
(Unaudited)
 
1. Specified items impacted results as follows:
 Quarter Ended March 31, 2025
(in millions, except per share data)EarningsDiluted
 Pre-tax
After-taxa
EPS
As reported (GAAP)$1,661 $1,286 $0.72 
Adjusted for specified items:   
Intangible asset amortization1,858 1,574 0.89 
Change in fair value of contingent consideration 1,518 1,477 0.83 
Other62 33 0.02 
As adjusted (non-GAAP)$5,099 $4,370 $2.46 
a     Represents net earnings attributable to AbbVie Inc. Specified items reflect the impact of applicable statutory tax rates.
Reported GAAP earnings and adjusted non-GAAP earnings for the three months ended March 31, 2025 included acquired IPR&D and milestones expense of $248 million on a pre-tax and $238 million on an after-tax basis, representing an unfavorable impact of $0.13 to both diluted EPS and adjusted diluted EPS.
2. The impact of the specified items by line item was as follows: 
 Quarter Ended March 31, 2025
(in millions)Cost of products soldSG&AR&DOther expense, net
As reported (GAAP)$4,002 $3,293 $2,067 $1,445 
Adjusted for specified items:
Intangible asset amortization(1,858)— — — 
Change in fair value of contingent consideration— — — (1,518)
Other(28)(13)(16)(5)
As adjusted (non-GAAP)
$2,116 $3,280 $2,051 $(78)

3. The adjusted tax rate for the first quarter of 2025 was 14.2 percent, as detailed below:
 Quarter Ended March 31, 2025
(dollars in millions)Pre-tax earningsIncome taxesTax rate
As reported (GAAP)$1,661 $372 22.4 %
Specified items3,438 354 10.3 %
As adjusted (non-GAAP)
$5,099 $726 14.2 %

9

Source: View Original Filing on SEC EDGAR

FAQ

How did AbbVie (ABBV) perform financially in Q1 2026?

AbbVie reported Q1 2026 net revenues of $15.002 billion, up 12.4% year over year on a reported basis. GAAP diluted EPS was $0.39, while adjusted diluted EPS was $2.65, reflecting strong underlying performance despite higher IPR&D and milestones expense.

What were AbbVie’s key drug revenue drivers in Q1 2026?

AbbVie’s growth was led by immunology and neuroscience. Skyrizi generated $4.483 billion and Rinvoq $2.119 billion. In neuroscience, revenues reached $2.875 billion, including $1.009 billion from Botox Therapeutic and a combined $635 million from Ubrelvy and Qulipta.

How did Humira impact AbbVie’s Q1 2026 results?

Humira net revenues declined to $688 million in Q1 2026, down 38.6% on a reported basis. While this weighed on the mature immunology portfolio, strong growth from Skyrizi and Rinvoq more than offset the Humira erosion at the total immunology level.

What profit margins did AbbVie report for Q1 2026?

AbbVie reported a Q1 2026 GAAP gross margin ratio of 71.9% and an adjusted gross margin ratio of 83.6%. The GAAP operating margin was 26.6%, while the adjusted operating margin reached 40.8%, highlighting solid profitability after excluding specified items.

Did AbbVie change its 2026 earnings guidance after Q1 2026?

Yes. AbbVie raised its 2026 adjusted diluted EPS guidance range from $13.96–$14.16 to $14.08–$14.28. This outlook includes an unfavorable impact of $0.41 per share from acquired IPR&D and milestones expense incurred year-to-date.

What recent R&D and regulatory milestones did AbbVie highlight?

AbbVie noted multiple milestones, including FDA submissions for Skyrizi in Crohn’s disease and Rinvoq in severe alopecia areata, Phase 3 and Phase 2 data for key assets like Elahere, and an FDA Complete Response Letter for trenibotE requesting additional manufacturing information without new safety concerns.

What major investments did AbbVie announce alongside Q1 2026 results?

AbbVie announced a $1.4 billion investment in a 185-acre manufacturing campus in Durham, North Carolina, and a $380 million investment in two new API manufacturing facilities in North Chicago. These projects will support production of immunology, neuroscience, oncology and next-generation obesity medicines.

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