AbbVie Inc. reported a significant increase in its financial performance for the first quarter of 2026, with net revenues reaching $15.0 billion, a 12% increase from $13.3 billion in the same period last year. The company's operating earnings also rose to $4.0 billion, compared to $3.7 billion in the prior year. However, net earnings attributable to AbbVie Inc. decreased to $695 million, or $0.39 per diluted share, down from $1.3 billion, or $0.72 per diluted share, in the first quarter of 2025. This decline in net earnings was attributed to higher costs, including a $2.4 billion change in the fair value of contingent consideration liabilities and $1.7 billion in amortization of intangible assets.
The company experienced notable changes in its product performance, particularly in its immunology segment. Sales of Skyrizi increased by 30.9% to $4.5 billion, driven by strong market share uptake. Rinvoq also saw a 23.3% increase in sales, totaling $2.1 billion. Conversely, Humira's sales fell sharply by 38.6% to $688 million, primarily due to the impact of direct biosimilar competition following the loss of exclusivity. Overall, AbbVie’s gross margin improved to 72% of net revenues, up from 70% in the previous year, reflecting higher revenues and lower amortization costs.
Strategically, AbbVie has been active in expanding its portfolio and capabilities. The company completed the acquisition of Nimble Therapeutics in January 2025 and entered a licensing agreement with RemeGen Co., Ltd. in March 2026, which included a $650 million upfront payment. AbbVie is also investing in U.S. manufacturing capabilities, including a new pharmaceutical manufacturing campus in North Carolina and additional facilities in Illinois. These investments are part of AbbVie's strategy to enhance its research and development capabilities and support future product launches.
Operationally, AbbVie reported cash flows from operating activities of $3.8 billion, a significant increase from $1.6 billion in the prior year, driven by improved operational results and working capital management. The company repurchased 5 million shares for $1.1 billion during the quarter, reflecting its commitment to returning value to shareholders. AbbVie’s total assets increased to $136.5 billion, up from $134.0 billion at the end of 2025, while total liabilities rose to $143.1 billion, compared to $137.3 billion previously.
Looking ahead, AbbVie remains focused on its strategic objectives, including maximizing its diversified revenue base and continuing to invest in its pipeline, which currently includes approximately 90 compounds in development. The company anticipates several regulatory submissions and approvals in the coming year, which could further enhance its growth prospects. Despite the challenges posed by market conditions and competition, AbbVie is positioned to leverage its strong product portfolio and operational capabilities to drive future performance.
About AbbVie Inc.
AbbVie Inc. is a global biopharmaceutical company focused on researching, developing, manufacturing, and marketing innovative therapies across immunology, oncology, aesthetics, neuroscience, and eye care. Its diverse product portfolio addresses complex diseases with leading biologics and pharmaceuticals, serving healthcare providers, payers, and patients worldwide. AbbVie’s integrated business model combines advanced R&D, global supply chain, and targeted commercialization to deliver specialized medicines and medical devices in major international markets.
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