AbbVie Earnings Show Immunology Strength

AbbVie Inc. reported strong fourth-quarter earnings on Feb. 4, 2026, driven by growth in its immunology drugs Skyrizi and Rinvoq. The company issued 2026 adjusted earnings per share (EPS) guidance that excludes acquired in-process research and development (IPR&D) and milestone costs, signaling reliance on acquisitions to sustain growth.

Fourth-Quarter Results and Product Performance

AbbVie posted fourth-quarter net revenues of $16.6 billion, up 10.0% reported and 9.5% operational compared with the year-earlier period. Its immunology portfolio reached $8.6 billion, rising 18.3% reported. Skyrizi sales grew 32.5% to $5.0 billion, and Rinvoq revenue increased 29.5% to $2.4 billion. Humira declined 25.9% to $1.2 billion.

Neuroscience products generated $3.0 billion, up 17.9% reported, with Vraylar contributing $1.0 billion, a 10.5% increase, and Botox Therapeutic adding $990 million, up 13.4%. Oncology sales fell 1.5% reported to $1.7 billion; Imbruvica declined to $671 million, while Venclexta rose to $710 million and Elahere increased 22.6% to $182 million. Aesthetics revenue slipped 0.9% reported to $1.3 billion, with Botox Cosmetic up 4.2% to $717 million and Juvederm down 10.7% to $249 million.

Adjusted diluted EPS for the quarter was $2.71, including a $0.71-per-share impact from acquired IPR&D and milestone expenses. The adjusted gross margin stood at 83.6%.

Full-Year Results and 2026 Outlook

For 2025, AbbVie reported net revenues of $61.2 billion, up 8.6% reported and 8.5% operational. Full-year immunology sales totaled $30.4 billion, led by Skyrizi at $17.6 billion and Rinvoq at $8.3 billion, while Humira contributed $4.5 billion. Neuroscience revenue reached $10.8 billion, with Vraylar at $3.6 billion and Botox Therapeutic at $3.8 billion. Oncology sales totaled $6.7 billion, including Imbruvica at $2.9 billion, Venclexta at $2.8 billion, and Elahere at $690 million. Aesthetics revenue was $4.9 billion, with Botox Cosmetic at $2.6 billion and Juvederm at $993 million.

AbbVie set 2026 adjusted diluted EPS guidance between $14.37 and $14.57, excluding acquired IPR&D and milestone costs. The company submitted supplemental new drug applications to the FDA and EMA seeking approval for Rinvoq to treat non-segmental vitiligo after Phase 3 Viti-Up trials met co-primary endpoints at week 48. If approved, Rinvoq would become the first systemic treatment for vitiligo, expanding AbbVie's immunology portfolio.

Chairman and CEO Robert A. Michael said, "Based on our strong fundamentals, we expect another year of robust growth in 2026."