By Siddhi Mahatole and Puyaan Singh
July 31 (Reuters) – AbbVie slightly trimmed its 2026 profit forecast on Friday to account for its planned Apogee Therapeutics acquisition, while topping second-quarter estimates on strong immunology drug sales.
Shares of the drugmaker fell nearly 4% in premarket trading.
In June, AbbVie agreed to buy Apogee for $10.9 billion, the company’s largest buyout in more than five years, to bolster its treatment pipeline for inflammatory diseases like eczema and asthma.
The company on Friday said the deal would reduce 2026 earnings by 14 cents per share but performance of its existing businesses would make up for 10 cents of that, bringing the net impact to 4 cents per share.
BMO Capital Markets analyst Evan Seigerman said “slight beats on top and bottom line may not be enough for AbbVie investor high expectations.”
AbbVie has bet on acquisitions, along with newer immunology drugs Skyrizi and Rinvoq, to counter declining demand for former top-selling drug Humira following biosimilar competition.
“With shares +30% since lows in April, and +18% since the Apogee deal was announced in June, we expect there will be some questioning whether this print is ‘enough’ to see shares continue their momentum,” Cantor analyst Carter Gould said.
In the quarter, AbbVie posted an adjusted profit of $3.65 per share on revenue of $16.99 billion, compared to an estimated $3.60 per share on sales of $16.77 billion, according to LSEG data.
Global sales of Humira fell 36% to $756 million. Analysts expected $732.4 million. Skyrizi sales grew 24.4% to $5.51 billion, beating Wall Street estimates of $5.45 billion. Rinvoq sales grew 24.5% to $2.53 billion, above estimates of $2.48 billion.
The drugmaker now expects annual adjusted profit of $13.87 to $14.07 per share, compared to its prior view of $13.91 to $14.11 per share.
(Reporting by Siddhi Mahatole and Puyaan Singh in Bengaluru; Editing by Joyjeet Das)
