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Guidance cut and explicit 2026 earnings drag press near-term valuation; stock declined ~2% on the news and may remain pressured until deal proximity and execution improve.
What happened, with direct paths to the underlying reporting
AbbVie delivered a solid Q2 beat on earnings and revenue, yet cut its full-year outlook mainly due to the planned Apogee Therapeutics acquisition. The deal, expected to close in Q3, will deduct about 14 cents from 2026 per-share earnings, offset slightly by a 10-cent uplift in underlying operations and a 58-cent drag from in-process R&D and milestones. The stock declined about 2% on the news.
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