AbbVie Inc.

Company facts

Industry

Pharmaceutical Preparations

Headquarters

North Chicago, Illinois

Most recent report

10-Q, filed Nov 3, 2026

Incorporated

Delaware

Filings on record

1,007+ filings

On EDGAR

CIK 1551152

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 10 sections worth reading, with 3 positive, 10 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Massive $10.6B Apogee acquisition, $18B debt issued, $27.3B contingent consideration, and a stockholders' deficit.
  Notable

  • Acquired Apogee for $10.6B ($10.5B net of cash), adding $9.1B in IPR&D and $2.3B in goodwill, closed Sep 3, 2026.
  • Entered a license with RemeGen for $650M upfront, with up to $5.0B in milestones; similar large deals with IGI, Capstan, ADARx, Gubra.
  • Recorded $1.3B litigation accrual at Sep 2026, down from $1.6B at Dec 2025, with ongoing opioid, antitrust, and product liability cases.
  Negative

  • Three U.S. wholesalers accounted for 82% of net accounts receivable at Sep 2026, down slightly from 84% at Dec 2025 but still extreme concentration.

• Management's Discussion (Item 2)

  MD&A with detailed revenue by product, margin, cash flow, and a major acquisition.
  Positive

  • Net revenue up 10.9% to $49.4B for nine months ended Sep 30, 2026, with Skyrizi and Rinvoq growing 25.6% and 23.9%.
  • Dividend raised from $1.73 to $1.82 per share, payable Feb 16, 2027.
  • Moody's upgraded AbbVie's senior unsecured rating to A2 from A3 in Feb 2026; S&P revised outlook to positive.
  Notable

  • Voluntary agreement with U.S. government: AbbVie pledged $100B in U.S. R&D and capital over 10 years for a 3-year tariff exemption.
  • Botox selected for Medicare price negotiation in Jan 2026, but court vacated that selection on Oct 29, 2026; ruling subject to appeal.
  • Humira revenue fell 35.4% to $2.1B for nine months ended Sep 30, 2026 due to biosimilar competition.
  • Juvederm Collection revenue fell 7.2% to $699M for nine months ended Sep 30, 2026 on lower demand and pricing.
  • Gross margin improved to 75% (Q3 2026) from 66% (Q3 2025), partly due to no repeat of $847M impairment in prior year.
  • Issued $18.0B in senior notes to fund Apogee acquisition; repaid $2.0B term loan and $2.0B of 3.20% notes.
  • Repurchased 5 million shares for $1.1B in nine months ended Sep 30, 2026, up from 3 million for $606M a year ago.

What changed: Sep 2026 vs. Jun 2026

About 10% of ABBV's Sep 2026 10-Q is new information. 38 paragraphs were added, 127 changed, and 16 removed. Below are the most important lines SECSift identified.

• Item 1 70
• Item 2 57
• Item 4 2
• Item 5 1