AbbVie trims 2026 profit view on Apogee deal, tops second
Reuters reports AbbVie trimmed its 2026 adjusted EPS forecast to reflect its planned $10.9 billion acquisition of Apogee Therapeutics, agreed in June. AbbVie said the deal would reduce full-year earnings by 14 cents per share, with 10 cents offset, net 4 cents. In Q2, adjusted profit was $3.65 per share on $16.99B revenue, beating LSEG estimates; Skyrizi and Rinvoq sales rose.
How this was made
The 30-second read
Why it matters
The company adjusted its 2026 adjusted earnings per share and sales outlook to incorporate the acquisition, while reporting a Q2 beat driven by strong Skyrizi and Rinvoq sales and a steep Humira decline.
Market read
Traders get a concrete 2026 guidance reset tied to the Apogee deal plus a quarter-level read-through on immunology growth versus Humira erosion.
What to watch
Humira’s 36% slump remains large; traders may need to watch whether Skyrizi and Rinvoq growth can sustain enough to offset continued biosimilar erosion beyond the quarter.
Background
AbbVie agreed in June to buy Apogee Therapeutics for $10.9B, aiming to expand its inflammatory-disease pipeline as Humira faces biosimilar competition.
Ticker impact
AbbVie trimmed its 2026 adjusted EPS and sales outlook to reflect the planned $10.9B Apogee Therapeutics acquisition, while beating Q2 estimates.
Near-term volatility likely around deal integration and 2026 margin/dilution assumptions, with support from strong Skyrizi and Rinvoq sales momentum.
The article provides explicit 2026 EPS and sales ranges, quantifies the deal’s net EPS impact (4 cents), and reports Q2 beats and major Humira decline, which together drive a clear re-rating framework.
Market effects
Reinforces the immunology franchise trade, highlighting how Skyrizi and Rinvoq growth can partially offset Humira biosimilar pressure and acquisition dilution.
Limited, primarily US large-cap pharma sentiment and M&A expectations.
Moderate, as inflammatory-disease demand and pharma M&A financing assumptions can influence broader healthcare risk appetite.
Counterpoint
The 2026 guidance trim may be more about accounting/dilution optics than underlying demand strength, so the market may over-discount the Apogee impact versus the demonstrated Skyrizi and Rinvoq momentum.
Key entities
- companyAbbVie
Trimmed 2026 profit forecast for Apogee acquisition and reported Q2 adjusted EPS and revenue beats.
- companyApogee Therapeutics
Target in AbbVie’s $10.9B acquisition deal that is expected to reduce full-year earnings by 14 cents per share, netting 4 cents after offsetting performance.
- productSkyrizi
Immunology drug with Q2 sales up 24.4% to $5.51B, beating estimates.
- productRinvoq
Immunology drug with Q2 sales up 24.5% to $2.53B, above estimates.
- productHumira
Former top-seller with Q2 sales down 36% to $756M, still above estimate.
