AbbVie Reports First-Quarter 2026 Financial Results

NORTH CHICAGO, Ill., April 29, 2026 /PRNewswire/ -- 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."

First-Quarter Results

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

Recent Events

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.

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:

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Todd Bosse

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AbbVie Inc.

Key Product Revenues

Quarter Ended March 31, 2026

(Unaudited)

% Change vs. 1Q25

Net Revenues (in millions)

Reported

Operational a

U.S.

Int'l.

Total

U.S.

Int'l.

Total

Int'l.

Total

NET REVENUES

$10,969

$4,033

$15,002

9.9 %

19.9 %

12.4 %

11.4 %

10.3 %

Immunology

5,537

1,753

7,290

13.4

26.9

16.4

17.3

14.3

Skyrizi

3,775

708

4,483

29.3

39.8

30.9

28.0

29.2

Rinvoq

1,405

714

2,119

15.1

43.4

23.3

32.6

20.2

Humira

357

331

688

(52.0)

(12.3)

(38.6)

(17.4)

(40.3)

Neuroscience

2,459

416

2,875

24.7

34.4

26.0

21.8

24.3

Vraylar

902

905

18.2

67.6

18.4

58.9

18.4

Botox Therapeutic

842

167

1,009

16.5

16.3

16.5

6.7

14.9

Ubrelvy

330

339

41.7

29.2

41.4

22.9

41.2

Qulipta

250

296

45.4

>100.0

53.6

99.7

51.3

Vyalev

112

201

>100.0

98.3

>100.0

76.9

>100.0

Other Neuroscience

125

(38.9)

(1.5)

(19.6)

(11.7)

(24.8)

Oncology

882

749

1,631

(14.1)

23.4

(0.2)

15.7

(3.0)

Venclexta

341

429

770

9.2

21.4

15.7

10.1

9.7

Imbruvica b

332

224

556

(37.4)

7.2

(24.7)

7.2

(24.7)

Elahere

160

198

(2.9)

>100.0

10.7

>100.0

8.3

Epkinly c

22.1

89.3

62.0

81.8

57.6

Other Oncology

—

n/m

Aesthetics

704

482

1,186

9.8

4.5

7.6

(1.5)

5.1

Botox Cosmetic

371

297

668

25.8

13.9

20.2

7.1

17.0

Juvederm Collection

147

232

12.2

(5.3)

0.4

(10.3)

(2.9)

Other Aesthetics

248

286

(8.4)

(15.7)

(9.4)

(20.5)

(10.1)

Other Key Products

816

179

995

28.5

3.0

23.0

(7.9)

20.7

Mavyret

183

168

351

28.3

2.4

14.5

(8.6)

8.6

Creon

361

—

361

1.8

n/m

1.8

n/m

1.8

Linzess

272

283

96.9

12.7

91.5

3.0

90.9

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

AbbVie Inc.

Consolidated Statements of Earnings

(Unaudited)

(in millions, except per share data)

First Quarter

Ended March 31

2026

2025

Net revenues

$ 15,002

$ 13,343

Cost of products sold

4,218

4,002

Selling, general and administrative

3,578

3,293

Research and development

2,472

2,067

Acquired IPR&D and milestones

744

248

Total operating costs and expenses

11,012

9,610

Operating earnings

3,990

3,733

Interest expense, net

645

627

Other expense, net

2,306

1,445

Earnings before income tax expense

1,039

1,661

Income tax expense

342

372

Net earnings

697

1,289

Net earnings attributable to noncontrolling interest

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 share a

$ 2.65

$ 2.46

Weighted-average diluted shares outstanding

1,774

1,772

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

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)

Earnings

Diluted

Pre-tax

After-tax a

EPS

As reported (GAAP)

$ 1,039

$ 695

$ 0.39

Adjusted for specified items:

Intangible asset amortization

1,748

1,498

0.85

Change in fair value of contingent consideration

2,387

2,325

1.31

Other

395

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

sold

SG&A

R&D

Other

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

earnings

Income taxes

Tax rate

As reported (GAAP)

$ 1,039

$ 342

32.9 %

Specified items

4,530

514

11.3 %

As adjusted (non-GAAP)

$ 5,569

$ 856

15.4 %

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)

Earnings

Diluted

Pre-tax

After-tax a

EPS

As reported (GAAP)

$ 1,661

$ 1,286

$ 0.72

Adjusted for specified items:

Intangible asset amortization

1,858

1,574

0.89

Change in fair value of contingent consideration

1,518

1,477

0.83

Other

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

sold

SG&A

R&D

Other

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

earnings

Income taxes

Tax rate

As reported (GAAP)

$ 1,661

$ 372

22.4 %

Specified items

3,438

354

10.3 %

As adjusted (non-GAAP)

$ 5,099

$ 726

14.2 %

SOURCE AbbVie