AbbVie (NYSE:ABBV) reported third-quarter 2026 results above its guidance midpoint and raised its full-year revenue and adjusted earnings outlook, citing continued growth from its immunology and neuroscience portfolios.
The company posted adjusted earnings per share of $3.82, $0.07 above the midpoint of its prior guidance. Net revenue totaled $17.4 billion, up 10.5% operationally, excluding foreign exchange, and exceeded AbbVie’s expectations by $200 million, Chairman and Chief Executive Officer Rob Michael said on the company’s earnings call.
AbbVie raised its 2026 revenue forecast by $200 million to approximately $67.8 billion and lifted adjusted EPS guidance by $0.11 at the midpoint to a range of $13.95 to $13.99. The company expects fourth-quarter revenue of about $18.4 billion and adjusted EPS of $3.83 to $3.87.
AbbVie also announced a 5.2% increase in its quarterly cash dividend to $1.82 per share, beginning with the dividend payable in February 2027.
Immunology Products Drive Growth
Immunology revenue approached $9.2 billion during the quarter, representing 16.6% operational growth. SKYRIZI generated nearly $5.8 billion in sales, up 22.9% operationally, while RINVOQ sales rose 24.3% operationally to $2.7 billion.
Michael said SKYRIZI and RINVOQ together are expected to deliver approximately $6 billion in combined growth during 2026 despite increased competition. AbbVie raised its full-year immunology sales forecast to $34.9 billion, including $21.8 billion for SKYRIZI and $10.3 billion for RINVOQ.
SKYRIZI received U.S. approval for subcutaneous induction treatment in Crohn’s disease, a new dosing option based on the Phase III AFFIRM study. Chief Scientific Officer Roopal Thakkar said results in patients who had not previously received advanced therapy included a 60% endoscopic response rate, 43% endoscopic remission rate and 74% clinical remission rate after 16 weeks.
Chief Commercial Officer Jeff Stewart said the new administration option should strengthen SKYRIZI’s competitive position in Crohn’s disease. He said AbbVie expects access to ramp over roughly 60 days or longer and anticipates faster share gains during the first part of 2027 and into the second quarter.
AbbVie is also evaluating combinations of SKYRIZI with ABBV-382, an anti-alpha-4 beta-7 antibody, and ABBV-701, an anti-TL1A antibody, in Crohn’s disease and ulcerative colitis. Thakkar said the company could potentially begin Phase III testing of the ABBV-382 combination by the end of 2027, depending on interim data and dose-selection work.
Humira sales were $683 million, declining 30.6% operationally as biosimilar competition continued.
Neuroscience Momentum and Parkinson’s Launch
Neuroscience revenue was nearly $3.4 billion, up 19.5% operationally. AbbVie increased its full-year neuroscience revenue outlook by $300 million to $13 billion, including expected sales of $4.2 billion each for VRAYLAR and BOTOX Therapeutic, as well as $3.1 billion in oral CGRP migraine treatments.
VRAYLAR sales reached nearly $1.1 billion, up 14.3% operationally. BOTOX Therapeutic generated about $1.1 billion, up 9.8%, while UBRELVY revenue increased 26.9% to $449 million and Qulipta revenue climbed more than 38% to $398 million.
The FDA approved JUVMO for Parkinson’s disease during the quarter. AbbVie said the treatment selectively targets D1/D5 dopamine receptors and can be used as either monotherapy or alongside standard care. The company expects its Parkinson’s disease therapies, including JUVMO, VYALEV and DUOPA, to eventually generate more than $5 billion in peak sales collectively.
Stewart said JUVMO’s sales ramp is expected to be gradual because broader Medicare coverage is not expected until 2028. Still, he said early physician and patient interest has exceeded AbbVie’s initial expectations.
Oncology Pipeline Advances
Oncology revenue totaled $1.7 billion, up 0.9% operationally. VENCLEXTA sales rose 10.7% to $803 million, while IMBRUVICA sales declined 26.1% due to Inflation Reduction Act pricing and competitive pressure.
AbbVie raised its full-year oncology forecast to $6.6 billion, now expecting $3.1 billion in VENCLEXTA revenue and $2.1 billion from IMBRUVICA.
The company recently submitted a U.S. regulatory application for etentamig in heavily pretreated, triple-class exposed multiple myeloma following positive Phase III CERVINO data. Thakkar said the company expects an approval decision next year. AbbVie also started two additional Phase III studies for etentamig, including a combination study in second-line-plus multiple myeloma and a monotherapy study in light-chain amyloidosis.
In lymphoma, AbbVie reported positive Phase III data for Epkinly plus R-CHOP in first-line diffuse large B-cell lymphoma. The regimen reduced the risk of disease progression or death by 51% versus R-CHOP alone at an interim analysis, according to Thakkar. Regulatory submissions are expected early next year.
Capital Allocation, Aesthetics and Outlook
AbbVie generated approximately $14 billion in free cash flow in the first nine months of 2026 and ended September with $10.8 billion in cash. The company said it remains on track to reduce its net leverage ratio to 2x over the next two to three years following its Apogee Therapeutics acquisition.
Michael said future business-development activity is likely to focus on bolt-on additions in immunology, neuroscience, oncology and obesity rather than a large transformational transaction.
Aesthetics sales were nearly $1.2 billion, down 1.8% operationally. BOTOX Cosmetic sales rose 4.1% operationally to $669 million, while JUVÉDERM sales fell 11.8% to $222 million. AbbVie maintained its full-year aesthetics outlook of $5 billion.
Regarding Boey, the company said it expects to resubmit its U.S. application before year-end after addressing chemistry, manufacturing and controls matters cited in a complete response letter. Thakkar said AbbVie anticipates a six-month review and a potential U.S. decision in mid-2027.
Michael also said a federal district court ruled in AbbVie’s favor on whether BOTOX should be eligible for Medicare drug-price negotiation under the Inflation Reduction Act. The ruling may be appealed by the government, and AbbVie said it would not expect a negotiated price to be published while the matter remains unresolved.
About AbbVie (NYSE:ABBV)
AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.
The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.
