July 31 (Reuters) – AbbVie 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 more than 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, as it seeks to bolster its treatment pipeline for inflammatory diseases like atopic dermatitis and asthma.
The company, which expects to close the deal in the third quarter, forecast 2026 earnings to be reduced by 14 cents per share.
AbbVie has bet on acquisitions to counter declining demand for former top-selling drug Humira following biosimilar competition, while bracing for patent expirations of immunology drugs Skyrizi and Rinvoq.
North Chicago-based AbbVie last year also bought an experimental psychedelic-based depression drug from Gilgamesh Pharmaceuticals for up to $1.2 billion.
The drugmaker now expects annual adjusted profit of $13.87 to $14.07, compared to its prior view of $13.91 to $14.11 per share. Analysts on average were expecting $14.08 per share, according to LSEG data.
The company earned an adjusted profit of $3.65 per share in the quarter ended June 30, compared to an estimated $3.60 per share. Quarterly revenue came in at $16.99 billion, above estimates of $16.77 billion.
Global sales of Humira fell 36% to $756 million. Analysts expected $732.4 million.
Skyrizi recorded sales of $5.51 billion, growing 24.4%, compared to Wall Street estimates of $5.45 billion. Rinvoq sales grew 24.5% to $2.53 billion, which beat estimates of $2.48 billion.
(Reporting by Siddhi Mahatole and Puyaan Singh in Bengaluru; Editing by Joyjeet Das)