Billionaire Ken Griffin Increased His Position in This Dividend King by 547%

AbbVie (NYSE:ABBV) reported Q2 2026 revenue of $16.99B, up 10.2%, driven by immunology and neuroscience. Skyrizi and Rinvoq revenues grew 24.4% and 24.5% respectively, offsetting Humira's 35.9% decline. However, concentration risk exists as these two products made up 47% of revenue. Oncology and aesthetics showed weaker performance, with oncology revenue down 1.5%. Adjusted EPS rose 22.9% to $3.65.

AbbVie (NYSE: ABBV) will present new clinical data on its lung cancer pipeline at the 2026 World Conference on Lung Cancer. Key data includes ABBV-1480's 90.0% ORR in squamous NSCLC and 75.9% in non-squamous NSCLC, Temab-A's Phase 1b/2 study, and ABBV-706's 82% ORR in relapsed/refractory SCLC. The company aims to advance next-generation immunotherapies and targeted ADCs.

AbbVie (NYSE: ABBV) raised its neuroscience revenue guidance to $12.7 billion for 2026, up from $10.8 billion last year. Q2 neuroscience revenue grew 20.3% YoY to $3.23 billion, driven by Vraylar, therapeutic Botox, and migraine drugs Ubrelvy and Qulipta. The company is also investing in psychedelics-based medicines, acquiring bretisilocin (ABBV-2505) for up to $1.2 billion.

Moderna and Merck's experimental cancer vaccine showed promising Phase 3 results, preventing melanoma recurrence in certain patients. This drove significant stock price increases for both companies and other biopharma stocks, including AbbVie, Amgen, Eli Lilly, Johnson & Johnson, and BioNTech. Moderna's shares surged 138%, while Merck's rose 12.4%. The broader biopharma sector has been on an upswing, with investors rotating away from tech stocks. President Trump's nomination of a new FDA commiss

Pharmaceutical companies have invested over $5 billion in psychedelic-derived medicines, with Eli Lilly, AbbVie, and Otsuka acquiring firms like AtaiBeckley, Gilgamesh, and Transcend. Compass Pathways' COMP360 is in FDA review for a 2027 launch. The market is projected to reach $11.8B-$14.9B by 2034-2035, driven by high demand for depression treatments. Companies are developing short-acting analogs to reduce clinic stay times.

AbbVie completed an $8.75B note offering, including $500M floating-rate and $8.25B fixed-rate notes, to fund its acquisition of Apogee Therapeutics. The fixed-rate notes have coupons ranging from 4.500% to 6.100% and mature between 2028 and 2066. Proceeds will cover the acquisition costs and related fees, with the remainder for general corporate purposes.