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AbbVie Inc.ABBV

Sector
Healthcare
Industry
Pharmaceutical Preparations
Exchange
NYSE

Stock Price $ABBV

Latest filings

You are here#3 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q328-K163

ABBV filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 163 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Nov ’16Nov ’16
  2. Leadership change8-K · Jan ’19Jan ’19
  3. FY2020 annual report10-K · Feb ’21Feb ’21
  4. Leadership change8-K · May ’25May ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  15. $61.16B
YoY changeLargest recent move+37.7%in FY20Latest +8.6%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All ABBV Financial Metrics60 metrics

Income Statement15

Balance Sheet25

Cash Flow15

Per Share5

02—Overview

AbbVie Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Even as its former flagship drug Humira suffered a staggering 49.5% revenue collapse in FY2025, AbbVie expanded its total top line by 8.6% to reach $61.2 billiona. The pharmaceutical giant has successfully bridged the industry's most anticipated patent cliff by aggressively pivoting its core immunology business toward two hyper-growth replacement assets.

This portfolio transition allowed total net revenue to grow from $56.2 billion in FY2021 to $61.2 billionb in FY2025, definitively absorbing the biosimilar shock. By the end of this period, next-generation treatments Skyrizi and Rinvoq collectively accounted for roughly 42% of total revenues, posting massive year-over-year increases of 49.9% and 39.1% in FY2025. The company fueled this commercial shift with $19.0 billion in operating cash flow during the year, deploying capital toward strategic acquisitions like ImmunoGen and Cerevel Therapeutics to rebuild its oncology and neuroscience pipelines.

These aggressive pipeline investments and acquisition-related milestone expenses heavily compressed bottom-line profitability, dropping reported earnings to just $2.36c per share. Investors largely looked past this margin compression in favor of the successful revenue replacement. At the close of FY2025, the market valued the stock at $228.49, trading at a steep 96.8x earnings multiple as the company proved its new assets could carry the weight of the broader portfolio.

Recent Developments (Q4 2025 and Q1 2026)

In Q1 2026, AbbVie sustained its momentum with net revenues increasing 12.4% year-over-year to $15.0 billiond. The immunology division remained the primary growth engine, with Skyrizi and Rinvoq revenues climbing 30.9% and 23.3%, respectively. The company optimized its capital structure by issuing $8.0 billion in senior notes in March 2026 to refinance a $2.0 billion term loan. AbbVie also absorbed a $744 million acquired IPR&D expense tied to an upfront license agreement payment with RemeGen.

Bulls highlight the diversified portfolio generating $3.8 billione in first-quarter operating cash flow. Conversely, bears note that aggressive pipeline investments pushed R&D expenses up 20% year-over-year to $2.5 billion, slashing quarterly earnings from $0.72 to just $0.39 per share. The stock remains richly valued at 85.4x earnings as of May 8, 2026, reflecting a continued market premium for its ongoing portfolio transition.

What to watch: clinical progress for RemeGen licensed assets; integration and pipeline impact of the upcoming Apogee Therapeutics acquisition.

03—Filings

Recent SEC Filings

  1. 8-KAbbVie Inc. 8-K Report, Executive Changes (Oct 15, 2026)AbbVie Inc. (ABBV) announced a change to its Board of Directors via an 8-K filing on October 15, 2026. The company expanded its Board size from twelve to thirteen directors and appointed Dr. John M. Carethers as a Class II director, effective October 14, 2026. Dr. Carethers brings significant experience, currently serving as the Vice Chancellor for Health Sciences at the University of California San Diego and formerly as a director at Avantor, Inc. This appointment is intended to strengthen the Board's expertise, particularly within public policy and sustainability, as Dr. Carethers has been assigned to the Public Policy and Sustainability Committee. AbbVie has confirmed Dr. Carethers meets all independence requirements according to NYSE and company guidelines, ensuring objective oversight. Investors should note that Dr. Carethers will receive standard compensation for independent directors as previously disclosed.
  2. 8-KAbbVie Inc. 8-K Report, Financial Results (Oct 5, 2026)AbbVie Inc. (ABBV) has filed an 8-K report to provide an update on its financial outlook, specifically addressing the impact of acquired in-process research and development (IPR&D) and milestones expenses for the third quarter of 2026. The company expects these costs to be approximately $216 million pre-tax, resulting in an unfavorable impact of $0.11 per share on both GAAP and adjusted non-GAAP diluted earnings per share for the quarter. These figures are preliminary and subject to final financial closing procedures. The company has reiterated its full-year 2026 adjusted diluted earnings per share guidance range of $13.76 - $13.96, which now incorporates the anticipated impact of the third-quarter IPR&D and milestones expenses. The third-quarter 2026 adjusted diluted earnings per share guidance has been updated to a range of $3.73 - $3.77, reflecting these expenses. AbbVie emphasizes that acquired IPR&D and milestone expenses are difficult to forecast due to the inherent uncertainty in the timing and occurrence of such transactions, and their previously announced guidance excluded such expenses beyond the second quarter of 2026.
  3. 8-KAbbVie Inc. 8-K Report, Regulation FD Disclosure (Sep 3, 2026)On September 3, 2026, AbbVie (NYSE: ABBV) announced completion of its acquisition of Apogee Therapeutics (NASDAQ: APGE), with Apogee shareholders receiving $135.11 per share in cash, for a total equity value of approximately $10.9 billion. Apogee's stock ceased trading before market open that day. The deal adds an immunology pipeline led by zumilokibart (APG777), a late-stage, half-life extended anti-IL-13 monoclonal antibody in development for atopic dermatitis, plus APG273, a combination of zumilokibart with APG333 (an anti-TSLP antibody) targeting asthma. For investors, the key financial impact is dilution to near-term earnings. AbbVie expects the acquisition to reduce adjusted diluted EPS by $0.14 in 2026 (partial year) and approximately $0.46 in 2027, with accretion not expected until 2032. The company reaffirmed its 2026 full-year adjusted diluted EPS guidance of $13.87 to $14.07 and its third-quarter guidance of $3.84 to $3.88. The 2026 guidance already includes the $0.14 Apogee dilution and $0.58 per share of year-to-date acquired IPR&D and milestone expense through Q2, but excludes any acquired IPR&D and milestone charges beyond Q2 because the company says these cannot be reliably forecast. The filing is a Regulation FD disclosure, so the press release is furnished rather than filed. It carries forward-looking-statement risks, notably the possibility that acquired IPR&D assets do not replicate early clinical results, integration difficulty, and unknown liabilities. The filing does not disclose the deal's financing structure or the effect on AbbVie's balance sheet, so investors should review the company's upcoming filings for those details.
  4. 8-KAbbVie Inc. 8-K Report, Corporate Update (Aug 18, 2026)On August 18, 2026, AbbVie completed a $10.0 billion underwritten senior notes offering spanning nine tranches, from 2028 floating-rate notes through 2066 fixed-rate notes. The proceeds are earmarked to help fund the cash consideration for AbbVie's pending acquisition of Apogee Therapeutics, Inc., with any remainder going to general corporate purposes and related fees. The notes were issued under a shelf registration (S-3ASR dated February 14, 2025) and governed by the 2012 base indenture as supplemented by Supplemental Indenture No. 13. The filing is largely a debt-financing disclosure rather than an operating update. The tranche structure is notable: $5.25 billion (roughly 52%) is issued at maturities of 2028 to 2031, while $4.75 billion extends into 2033 through 2066, including $2.0 billion of long-dated 2056 and 2066 notes with coupons of 6.000% and 6.100%. The fixed coupons range from 4.500% to 6.100%, and the pricing curve reflects a meaningfully higher-rate environment at the long end. The 2028 floating-rate tranche and the 2028 fixed-rate notes both mature in August 2028, giving AbbVie a near-term maturity cluster to manage. From an investor standpoint, the key contingent feature is the special mandatory redemption provision. If the Apogee acquisition is terminated or AbbVie informs the trustee it will not pursue it, AbbVie must redeem all notes other than the 2056 and 2066 notes at 101% of principal plus accrued interest. This limits downside for noteholders but also means the acquisition's completion is effectively tied to the debt structure. Investors should watch for closing of the Apogee deal and the resulting increase in AbbVie's total debt load, which the filing does not quantify beyond these offering amounts.
  5. 8-KAbbVie Inc. 8-K Report, Corporate Update (Aug 5, 2026)AbbVie Inc. (ABBV) announced through an 8-K filing on August 5, 2026, the closing of a significant debt offering totaling approximately $9.93 billion in net proceeds. This substantial capital raise comprises multiple tranches of senior notes with varying maturities and interest rates, including floating rate notes, fixed-rate notes ranging from 2028 to 2066. The primary purpose of this offering is to fund a portion of the cash payment obligations related to AbbVie's acquisition of Apogee Therapeutics, Inc. This strategic move underscores AbbVie's commitment to its growth strategy through significant M&A activity. The proceeds will also be used for other general corporate purposes, potentially including debt repayment or repurchase, and will reduce commitments under an existing term loan facility established for the Apogee acquisition.
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04—See also

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