AbbVie reports $4.22 billion net income for Q3 2026

Cover page 2 changes

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For the quarterly period ended June September 30, 2026

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As of July 27, October 26, 2026, AbbVie Inc. had 1,767,117,285 1,767,616,306 shares of common stock at $0.01 par value outstanding.

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Financial statements 164 changes

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June 30, Six months ended

September 30, Nine months ended

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Net revenues $ 16,990 $ 15,423 $ 31,992 $ 28,766

Cost of products sold 4,291 4,346 8,509 8,348

Selling, general and administrative 3,632 3,253 7,210 6,546

Research and development 2,344 2,131 4,816 4,198

Acquired IPR&D and milestones 291 823 1,035 1,071

Other operating income — ( 24 ) — ( 24 )

Total operating costs and expenses 10,558 10,529 21,570 20,139

Operating earnings 6,432 4,894 10,422 8,627

Interest expense, net 679 678 1,324 1,305

Other expense, net 1,475 2,662 3,781 4,107

Earnings before income tax expense 4,278 1,554 5,317 3,215

Income tax expense 662 613 1,004 985

Net earnings 3,616 941 4,313 2,230

Net earnings attributable to AbbVie Inc. $ 3,613 $ 938 $ 4,308 $ 2,224

Net revenues $ 17,404 $ 15,776 $ 49,396 $ 44,542

Cost of products sold 4,285 5,304 12,794 13,652

Selling, general and administrative 4,087 3,569 11,297 10,115

Research and development 2,567 2,319 7,383 6,517

Acquired IPR&D and milestones 216 2,680 1,251 3,751

Other operating income ( 18 ) — ( 18 ) ( 24 )

Total operating costs and expenses 11,137 13,872 32,707 34,011

Operating earnings 6,267 1,904 16,689 10,531

Interest expense, net 700 667 2,024 1,972

Other expense, net 738 523 4,519 4,630

Earnings before income tax expense 4,829 714 10,146 3,929

Income tax expense 609 526 1,613 1,511

Net earnings 4,220 188 8,533 2,418

Net earnings attributable to noncontrolling interest 3 3 5 6 2 2 7 8

Net earnings attributable to AbbVie Inc. $ 4,218 $ 186 $ 8,526 $ 2,410

Basic earnings per share attributable to AbbVie Inc. $ 2.04 2.38 $ 0.52 0.10 $ 2.42 4.80 $ 1.25 1.35

Diluted earnings per share attributable to AbbVie Inc. $ 2.03 2.37 $ 0.52 0.10 $ 2.42 4.79 $ 1.24 1.34

Weighted-average basic shares outstanding 1,769 1,768 1,769 1,768 1,769 1,769

Weighted-average diluted shares outstanding 1,771 1,771 1,773 1,772 1,772 1,772 1,772

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June 30, Six months ended

September 30, Nine months ended

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Net earnings $ 3,616 $ 941 $ 4,313 $ 2,230

Other comprehensive income (loss) ( 5 ) 204 ( 14 ) 387

Comprehensive income 3,611 1,145 4,299 2,617

Comprehensive income attributable to AbbVie Inc. $ 3,608 $ 1,142 $ 4,294 $ 2,611

Net earnings $ 4,220 $ 188 $ 8,533 $ 2,418

Foreign currency translation adjustments, net of tax expense (benefit) of $ 2 ) 10 for the three months and $ 7 ) 3 for the six nine months ended June September 30, 2026 and $( 33 2 ) for the three months and $ 50 48 for the six nine months ended June September 30, 2025 ( 144 50 ) 1,051 ( 348 49 ) 1,538 ( 398 ) 1,489

Net investment hedging activities, net of tax expense (benefit) of $ 21 8 for the three months and $ 64 72 for the six nine months ended June September 30, 2026 and $ 192 ) 4 for the three months and $( 269 265 ) for the six nine months ended June September 30, 2025

Pension and post-employment benefits, net of tax expense (benefit) of $ 2 — for the three months and six $ 2 for the nine months ended June September 30, 2026 and $ — 1 for the three and six nine months ended June September 30, 2025

Cash flow hedging activities, net of tax expense (benefit) of $( 4 6 ) for the three months and six ( 2 ) for the nine months ended June September 30, 2026 and $ 16 ) 1 for the three months and $( 20 19 ) for the six nine months ended June September 30, 2025

Other comprehensive income (loss) ( 8 ) ( 36 ) ( 22 ) 351

Comprehensive income 4,212 152 8,511 2,769

Comprehensive income attributable to noncontrolling interest 3 3 5 6 2 2 7 8

Comprehensive income attributable to AbbVie Inc. $ 4,210 $ 150 $ 8,504 $ 2,761

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Goodwill 35,519 35,640

Other assets 10,726 10,721

Total assets $ 135,115 $ 133,960

(in millions, except share data) June September 30,

Cash and equivalents $ 6,569 10,774 $ 5,229

Accounts receivable, net 13,824 13,509 12,589

Inventories 5,127 5,305 4,951

Prepaid expenses and other 8,149 7,892 6,293

Total current assets 33,669 37,480 29,062

Property and equipment, net 5,796 5,941 5,628

Intangible assets, net 49,139 56,652 52,641

Goodwill 37,800 35,640

Other assets 9,420 10,721

Total assets $ 147,680 $ 133,960

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Current portion of long-term debt 8,341 8,673 6,056

Accounts payable and accrued liabilities 33,301 34,429 34,734

Total current liabilities 41,642 43,102 43,289

Long-term debt 62,481 72,230 58,941

Deferred income taxes 2,277 2,223 2,389

Other long-term liabilities 34,603 34,663 32,569

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Accumulated deficit ( 17,333 ) ( 15,493 )

Noncontrolling interest 47 42

Total deficit ( 5,888 ) ( 3,228 )

Common stock, $ 0.01 par value, 4,000,000,000 shares authorized, 1,844,174,521 1,844,582,836 shares issued as of June September 30, 2026 and 1,838,678,628 as of December 31, 2025

Common stock held in treasury, at cost, 77,105,240 77,073,558 shares as of June September 30, 2026 and 70,802,593 as of December 31, 2025 ( 10,618 10,616 ) ( 9,146 )

Additional paid-in capital 23,156 23,371 22,495

Accumulated deficit ( 16,190 ) ( 15,493 )

Accumulated other comprehensive loss ( 1,158 1,166 ) ( 1,144 )

Total stockholders' deficit ( 5,935 4,583 ) ( 3,270 )

Noncontrolling interest 45 42

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and 84 more changes in the filing

Note 2: Supplemental Financial Information 20 changes

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June 30, Six months ended

September 30, Nine months ended

1 unchanged paragraph

Interest expense $ 746 $ 740 $ 1,463 $ 1,440

Interest income ( 67 ) ( 62 ) ( 139 ) ( 135 )

Interest expense, net $ 679 $ 678 $ 1,324 $ 1,305

(in millions) June 30,

Interest expense $ 802 $ 739 $ 2,265 $ 2,179

Interest income ( 102 ) ( 72 ) ( 241 ) ( 207 )

Interest expense, net $ 700 $ 667 $ 2,024 $ 1,972

(in millions) September 30,

Finished goods $ 1,671 1,789 $ 1,580

Work-in-process 2,316 2,338 2,287

Raw materials 1,140 1,178 1,084

Inventories $ 5,127 5,305 $ 4,951

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(in millions) June 30,

(in millions) September 30,

Property and equipment, gross $ 13,955 14,247 $ 13,530

Accumulated depreciation ( 8,159 8,306 ) ( 7,902 )

Property and equipment, net $ 5,796 5,941 $ 5,628

Depreciation expense was $ 194 192 million for the three months and $ 382 574 million for the six nine months ended June September 30, 2026 and $ 186 192 million for the three months and $ 367 559 million for the six nine months ended June September 30, 2025.

Note 3: Earnings Per Share 18 changes

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June 30, Six months ended

September 30, Nine months ended

1 unchanged paragraph

Net earnings attributable to AbbVie Inc. $ 3,613 $ 938 $ 4,308 $ 2,224

Earnings available to common shareholders $ 3,601 $ 928 $ 4,288 $ 2,204

Net earnings attributable to AbbVie Inc. $ 3,613 $ 938 $ 4,308 $ 2,224

Earnings available to common shareholders $ 3,601 $ 928 $ 4,288 $ 2,204

Net earnings attributable to AbbVie Inc. $ 4,218 $ 186 $ 8,526 $ 2,410

Earnings allocated to participating securities 12 13 10 20 20 29 30

Earnings available to common shareholders $ 4,205 $ 176 $ 8,497 $ 2,380

Weighted-average basic shares outstanding 1,769 1,768 1,769 1,768 1,769 1,769

Basic earnings per share attributable to AbbVie Inc. $ 2.04 2.38 $ 0.52 0.10 $ 2.42 4.80 $ 1.25 1.35

Net earnings attributable to AbbVie Inc. $ 4,218 $ 186 $ 8,526 $ 2,410

Earnings allocated to participating securities 12 13 10 20 20 29 30

Earnings available to common shareholders $ 4,205 $ 176 $ 8,497 $ 2,380

Weighted-average shares of common stock outstanding 1,769 1,768 1,769 1,768 1,769 1,769

Effect of dilutive securities 2 3 4 4 3 3 3

Weighted-average diluted shares outstanding 1,771 1,771 1,773 1,772 1,772 1,772 1,772

Diluted earnings per share attributable to AbbVie Inc. $ 2.03 2.37 $ 0.52 0.10 $ 2.42 4.79 $ 1.24 1.34

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Note 4: Licensing, Acquisitions and Other Arrangements 38 changes

In June 2026, AbbVie announced that it entered into a definitive agreement to acquire Apogee Therapeutics, Inc. (Apogee). Apogee is a clinical-stage biotechnology company advancing novel biologics with potential for differentiated efficacy and dosing for the treatment of atopic dermatitis, asthma and other inflammatory conditions. Under the terms of the agreement, AbbVie will acquire all outstanding shares of Apogee for $ 135.11 per share in cash for a total value of approximately $ 10.9 billion. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and other customary closing conditions including Apogee shareholder approval.

Proposed Acquisition of Apogee Therapeutics, Inc.

On September 3, 2026, AbbVie completed its previously announced acquisition of Apogee Therapeutics, Inc. (Apogee). Apogee is a clinical-stage biotechnology company advancing novel biologics with potential for differentiated efficacy and dosing for the treatment of atopic dermatitis, asthma and other inflammatory conditions. Apogee's pipeline is comprised of multiple clinical-stage candidates, including zumilokibart, a late-stage, half-life extended monoclonal antibody targeting IL-13, in development for patients with atopic dermatitis, as well as APG273, a long-acting combination targeting IL-13 and thymic stromal lymphopoietin (TSLP) in development for patients with asthma. Under the terms of the agreement, AbbVie acquired all outstanding shares of Apogee for $ 135.11 per share in cash. The total fair value of the consideration transferred to owners of Apogee common stock was $ 10.6 billion ($ 10.5 billion, net of cash acquired). In connection with the transaction, AbbVie also recorded $ 318 million of cash-settled, post-closing expense for Apogee employee incentive and compensation awards in the condensed consolidated statements of earnings in the third quarter of 2026.

The acquisition of Apogee has been accounted for as a business combination using the acquisition method of accounting. The valuation of assets acquired and liabilities assumed has not yet been finalized as of September 30, 2026. As a result, AbbVie recorded preliminary estimates for the fair value of assets acquired and liabilities assumed as of the acquisition date. Finalization of the valuation during the measurement period could result in a change in the amounts recorded for the acquisition date fair value of intangible assets, goodwill and income taxes among other items. The completion of the valuation will occur no later than one year from the acquisition date.

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:

Assets acquired and liabilities assumed

Cash and equivalents $ 72

Short-term investments 791

Prepaid expenses and other 23

Intangible assets, net 9,100

Accounts payable and accrued liabilities ( 69 )

Current portion of long-term debt ( 300 )

Long-term debt ( 223 )

Deferred income taxes ( 1,661 )

Total identifiable net assets 8,311

Total assets acquired and liabilities assumed $ 10,595

Intangible assets relate to $ 9.1 billion of acquired in-process research and development (IPR&D) associated with products that have not yet received regulatory approval. The estimated fair values of identifiable intangible assets were determined using the "income approach" which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. Some of the more significant assumptions inherent in the development of these asset valuations include the estimated net cash flows for each year for each asset or product, the appropriate discount rate necessary to measure the risk inherent in each future cash flow stream, the life cycle of each asset, the potential regulatory and commercial success risk, competitive trends impacting the asset and each cash flow stream, as well as other factors.

Prior to the acquisition, Apogee entered into a funding agreement, whereby Apogee received an upfront payment and the right to receive future funding payments based on certain milestones to support development of zumilokibart. In exchange, Apogee agreed to pay royalties on zumilokibart net revenues. The funding agreement assumed by AbbVie was accounted for as a financing arrangement and the fair value of the related financing liability was $ 523 million as of the acquisition date, with $ 300 million recorded as current portion of long-term debt. The estimated fair value of the financing liability was determined using a Monte Carlo simulation model for royalty payments, which are then discounted to present value. Assumptions inherent in the development of the fair value include discount rates and estimated future sales. Additionally, the value of the future funding payments of $ 300 million was recorded in other assets on the condensed consolidated balance sheets.

Investments, including short-term investments acquired were sold subsequent to the acquisition date, resulting in proceeds of $ 1.0 billion and were classified as cash inflows from investing activities on the condensed consolidated statements of cash flows.

Goodwill was calculated as the excess of the consideration transferred over the fair value of net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recognized from the acquisition of Apogee represents expected synergies, including the ability to: (i) expand AbbVie's immunology pipeline, (ii) leverage AbbVie's commercial, regulatory and clinical expertise to maximize Apogee's assets and (iii) enhance AbbVie's existing immunology discovery capabilities. The goodwill is not deductible for tax purposes.

The results of Apogee have been included in AbbVie's condensed consolidated financial statements beginning on the acquisition date. Apogee's financial results since the acquisition date were insignificant. Supplemental pro forma financial information has not been presented because the effect of the acquisition was insignificant to AbbVie's condensed consolidated financial statements.

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In January 2025, AbbVie completed its acquisition of Nimble Therapeutics, Inc. (Nimble). Nimble is a biotechnology company dedicated to delivering on the promise of oral peptide therapeutics and its lead asset, an investigational oral peptide IL23R inhibitor in development for the treatment of psoriasis. The aggregate purchase price of $ 288 million was comprised of a $ 210 million upfront cash payment and $ 78 million for the acquisition date fair value of contingent consideration liabilities, for which AbbVie may owe up to $ 130 million in future payments upon achievement of certain development milestones. The contingent consideration liabilities were paid in the third quarter of 2026 upon achievement of the development milestones. The transaction was accounted for as a business combination using the acquisition method of accounting.

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June 30, Six months ended

Upfront charges $ 145 $ 705 $ 848 $ 951

Development milestones 146 118 187 120

Acquired IPR&D and milestones $ 291 $ 823 $ 1,035 $ 1,071

Cash outflows related to other acquisitions and investments, net of cash acquired totaled $ 1.1 1.4 billion for the six nine months ended June September 30, 2026 and $ 1.3 4.1 billion for the six nine months ended June September 30, 2025.

The following table summarizes acquired in-process research and development IPR&D and milestones expense:

September 30, Nine months ended

Upfront charges $ 56 $ 2,615 $ 904 $ 3,566

Development milestones 160 65 347 185

Acquired IPR&D and milestones $ 216 $ 2,680 $ 1,251 $ 3,751

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Ichnos Glenmark Innovation, Inc.

In September 2025, AbbVie entered into a license agreement with Ichnos Glenmark Innovation, Inc. (IGI). Under the terms of the agreement, AbbVie received an exclusive license to develop, manufacture and commercialize ISB-2001 (ABBV-2001), a tri-specific T-cell engager in development for the treatment of multiple myeloma across North America, Europe, Japan and Greater China. The upfront payment of $ 700 million was recorded in acquired IPR&D and milestones expense in the condensed consolidated statement of earnings in the third quarter of 2025. AbbVie could make additional payments of up to $ 1.2 billion upon achievement of certain development, regulatory and commercial milestones and pay tiered royalties.

Capstan Therapeutics, Inc.

In August 2025, AbbVie acquired Capstan Therapeutics, Inc. (Capstan), including its lead program CPTX2309 (ABBV-619), a potential first-in-class in vivo targeted lipid nanoparticle (tLNP) anti-CD19 CAR-T therapy candidate in development for the treatment of B cell-mediated autoimmune diseases. Under the terms of the agreement, AbbVie paid cash consideration of $ 2.1 billion ($ 1.9 billion, net of cash acquired) to acquire all outstanding equity of Capstan and the transaction was accounted for as an asset acquisition as the lead program represented substantially all of the fair value of the gross assets acquired. The cash consideration of $ 1.9 billion, net of cash acquired, was recorded in acquired IPR&D and milestones expense in the condensed consolidated statement of earnings in the third quarter of 2025. In connection with the transaction, AbbVie also recorded $ 187 million of cash-settled, post-closing expense for Capstan employee incentive and compensation awards in the consolidated statement of earnings in the third quarter of 2025.

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In May 2025, AbbVie entered into a license option agreement with ADARx Pharmaceuticals, Inc. (ADARx). Under the terms of the agreement, AbbVie received exclusive options to global license rights to develop and commercialize ADARx's small interfering RNA (siRNA) therapeutics across multiple disease areas, including neuroscience, immunology and oncology. Under the terms of the agreement, AbbVie made an upfront payment of $ 335 million which was recognized recorded in acquired IPR&D and milestones expense in the condensed consolidated statement of earnings in the second quarter of 2025. AbbVie could make additional payments of up to $ 385 million for option fees and option exercise payments, up to $ 7.5 billion upon achievement of certain development, regulatory and commercial milestones and pay tiered royalties.

In April 2025, AbbVie entered into a licensing agreement with Gubra A/S. Under the terms of the agreement, AbbVie received an exclusive global license to develop and commercialize GUB014295 (ABBV-295), a long-acting amylin analog for the treatment of obesity. Under the terms of the agreement, AbbVie made an upfront payment of $ 350 million which was recognized recorded in acquired IPR&D and milestones expense in the condensed consolidated statement of earnings in the second quarter of 2025. AbbVie could make additional payments of up to $ 1.9 billion upon achievement of certain development, regulatory and commercial milestones and pay tiered royalties.

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Note 5: Collaborations 4 changes

The company has ongoing transactions with other entities through collaboration agreements. The following represent the significant collaboration agreements impacting the periods ended June September 30, 2026 and 2025.

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AbbVie manufactures and distributes Venclexta globally and is the principal in the end-customer product sales. Sales of Venclexta are included in AbbVie's net revenues. Genentech's share of United States profits is included in AbbVie's cost of products sold. AbbVie records sales and marketing costs associated with the United States collaboration as part of selling, general and administrative (SG&A) expenses and global development costs as part of research and development (R&D) expenses, net of Genentech's share. Royalties paid for Venclexta revenues outside the United States are also included in AbbVie's cost of products sold. Genentech's share of profits, including royalties, was $ 298 318 million for the three months and $ 582 900 million for the six nine months ended June September 30, 2026 and $ 262 286 million for the three months and $ 504 790 million for the six nine months ended June September 30, 2025. Sales and marketing and development costs for the three and six nine months ended June September 30, 2026 and 2025 were insignificant.

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In the United States, both parties have co-exclusive rights to commercialize Imbruvica; however, AbbVie is the principal in the end-customer product sales. AbbVie and Janssen share pre-tax profits and losses equally from the commercialization of Imbruvica. Sales of Imbruvica are included in AbbVie's net revenues. Janssen's share of profits is included in AbbVie's cost of products sold. Other costs incurred under the collaboration are reported in their respective expense line items, net of Janssen's share. In the United States, Janssen's share of profits was $ 157 158 million for the three months and $ 310 468 million for the six nine months ended June September 30, 2026 and $ 253 235 million for the three months and $ 500 735 million for the six nine months ended June September 30, 2025. Other costs for the three and six nine months ended June September 30, 2026 and 2025 were insignificant.

Outside the United States, Janssen is responsible for and has exclusive rights to commercialize Imbruvica. AbbVie and Janssen share pre-tax profits and losses equally from the commercialization of products. AbbVie's share of profits is included in AbbVie's net revenues. Other costs incurred under the collaboration are reported in their respective expense line items, net of Janssen's share. Outside the United States, AbbVie's share of profits was $ 195 182 million for the three months and $ 419 601 million for the six nine months ended June September 30, 2026 and $ 211 199 million for the three months and $ 420 619 million for the six nine months ended June September 30, 2025. Other costs for the three and six nine months ended June September 30, 2026 and 2025 were insignificant.

Note 6: Goodwill and Intangible Assets 15 changes

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Balance as of June 30, 2026 $ 35,519

Foreign currency translation adjustments ( 121 124 )

Balance as of September 30, 2026 $ 37,800

(a) Goodwill additions related to the acquisition of Apogee (see Note 4)

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June September 30, 2026 December 31, 2025

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Developed product rights $ 81,968 82,302 $ ( 37,891 39,391 ) $ 44,077 42,911 $ 81,239 $ ( 34,849 ) $ 46,390

License agreements 8,359 8,400 ( 7,698 7,846 ) 661 554 8,353 ( 7,383 ) 970

Total definite-lived intangible assets 90,327 90,702 ( 45,589 47,237 ) 44,738 43,465 89,592 ( 42,232 ) 47,360

Indefinite-lived intangible assets 4,401 13,187 — 4,401 13,187 5,281 — 5,281

Total intangible assets, net $ 94,728 103,889 $ ( 45,589 47,237 ) $ 49,139 56,652 $ 94,873 $ ( 42,232 ) $ 52,641

Definite-Lived Intangible Assets

Amortization expense was $ 1.7 billion for the three months and $ 3.4 5.1 billion for the six nine months ended June September 30, 2026 and $ 1.9 billion for the three months and $ 3.7 5.6 billion for the six nine months ended June September 30, 2025. Amortization expense was included in cost of products sold in the condensed consolidated statements of earnings.

In the third quarter of 2025, the company made a decision to discontinue development and commercialization of Resonic, a rapid acoustic pulse device for long-term improvement in the appearance of cellulite. The company also made a decision to reduce current sales and marketing investment related to Durysta, an on-market eye care product to treat elevated intraocular pressure in open-angle glaucoma and ocular hypertension. Each of these strategic decisions contributed to decreases in the estimated future cash flows for the respective products and represented triggering events that required an evaluation of the underlying definite-lived intangible assets for impairment. For Resonic, the evaluation resulted in a full impairment of both the gross and net carrying amount of $ 407 million. For Durysta, the company utilized a discounted cash flow analysis to estimate the fair value of $ 271 million, which was lower than the carrying value of $ 711 million and resulted in a partial impairment of both the gross and net carrying amount. Based on the revised cash flows, the company recorded pre-tax impairment charges of $ 847 million in cost of products sold in the condensed consolidated statement of earnings for the third quarter of 2025.

Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets represent acquired IPR&D associated with products that have not yet received regulatory approval. The increase in indefinite-lived intangible assets during 2026 was primarily due to the acquisition of Apogee. Refer to Note 4 for additional information regarding the acquisition.

Note 7: Financial Instruments and Fair Value Measures 83 changes

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Various AbbVie foreign subsidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates for anticipated intercompany transactions denominated in a currency other than the functional currency of the local entity. These contracts, with notional amounts totaling $ 3.8 4.6 billion at June September 30, 2026 and $ 2.5 billion at December 31, 2025, are designated as cash flow hedges and are recorded at fair value. The durations of these forward exchange contracts were generally less than 24 months. Accumulated gains and losses as of June September 30, 2026 are reclassified from accumulated other comprehensive income (loss) (AOCI) and included in cost of products sold at the time the products are sold, generally not exceeding six months from the date of settlement.

The company also enters into foreign currency forward exchange contracts to manage its exposure to foreign currency denominated debt, trade payables and receivables and intercompany loans. These contracts are not designated as hedges and are recorded at fair value. Resulting gains or losses are recognized in other expense, net in the condensed consolidated statements of earnings and are generally offset by losses or gains on the foreign currency exposure being managed. These contracts had notional amounts totaling $ 9.2 10.2 billion at June September 30, 2026 and $ 9.2 billion at December 31, 2025.

The company also uses foreign currency forward exchange contracts or foreign currency denominated debt to hedge its net investments in certain foreign subsidiaries and affiliates. The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of € 3.1 billion at June September 30, 2026 and December 31, 2025. In addition, the company had foreign currency forward exchange contracts designated as net investment hedges with notional amounts totaling € 6.7 6.8 billion, SEK 1.4 billion, CAD 800 million and CHF 80 110 million at June September 30, 2026 and € 6.5 billion, SEK 1.4 billion, CAD 500 million and CHF 80 million at December 31, 2025. The company uses the spot method of assessing hedge effectiveness for derivative instruments designated as net investment hedges. Realized and unrealized gains and losses from these hedges are included in AOCI and the initial fair value of hedge components excluded from the assessment of effectiveness is recognized in interest expense, net over the life of the hedging instrument.

The company is a party to interest rate swap contracts designated as fair value hedges with notional amounts totaling $ 3.3 7.8 billion at June September 30, 2026 and $ 1.8 billion at December 31, 2025. The effect of the hedge contracts is to change a fixed-rate interest obligation to a floating rate for that portion of the debt. AbbVie records the contracts at fair value and adjusts the carrying amount of the fixed-rate debt by an offsetting amount.

The company is a party to interest rate swap contracts designated as cash flow hedges with notional amounts totaling $ 750 million at June September 30, 2026. The effect of the hedge contracts is to change a floating-rate interest obligation to a fixed rate for that portion of the floating-rate debt. AbbVie records the contracts at fair value and includes accumulated gains or losses in AOCI which it reclassifies to interest expense, net over the lives of the floating-rate debt.

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(in millions) Balance sheet caption June September 30,

2025 Balance sheet caption June September 30,

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Designated as cash flow hedges Prepaid expenses and other $ 100 112 $ 35 Accounts payable and accrued liabilities $ 15 29 $ 51

Designated as cash flow hedges Other assets 12 — 1 Other long-term liabilities 1 — —

Designated as net investment hedges Prepaid expenses and other 66 81 — Accounts payable and accrued liabilities 54 37 220

Designated as net investment hedges Other assets 7 21 — Other long-term liabilities 92 71 228

Not designated as hedges Prepaid expenses and other 75 62 25 Accounts payable and accrued liabilities 59 89 20

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Total derivatives $ 279 $ 91 $ 284 $ 540

Designated as fair value hedges Prepaid expenses and other — — Accounts payable and accrued liabilities 9 4 21

Designated as fair value hedges Other assets 10 — 30 Other long-term liabilities 54 410 —

Designated as cash flow hedges Other assets 9 14 — Other long-term liabilities — —

Total derivatives $ 290 $ 91 $ 640 $ 540

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June 30, Six months ended

September 30, Nine months ended

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Designated as cash flow hedges $ 62 $ ( 135 4 ) $ 96 46 $ 92 $ ( 154 108 )

Designated as net investment hedges 90 ( 570 ) 266 63 53 329 ( 763 710 )

Interest rate swap contracts designated as cash flow hedges 5 6 — 10 16 —

Assuming market rates remain constant through contract maturities, the company expects to reclassify pre-tax gains of $ 45 71 million into cost of products sold for foreign currency cash flow hedges and pre-tax gains of $ 23 24 million into interest expense, net for other cash flow hedges during the next 12 months.

Related to AbbVie's non-derivative, foreign currency denominated debt designated as net investment hedges, the company recognized in other comprehensive income (loss) pre-tax gains of $ 43 12 million for the three months and $ 103 115 million for the six nine months ended June September 30, 2026 and pre-tax losses of $ 283 1 million for the three months and $ 416 417 million for the six nine months ended June September 30, 2025.

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June 30, Six months ended

September 30, Nine months ended

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Designated as cash flow hedges Cost of products sold $ ( 6 9 ) $ 29 41 $ ( 13 22 ) $ 28 69

Designated as net investment hedges Interest expense, net 36 37 73 71 37 110 108

Not designated as hedges Other expense, net ( 35 ) ( 1 ) 17 ( 13 22 ) 46 ( 47 )

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Designated as fair value hedges Interest expense, net ( 21 361 ) 47 6 ( 62 423 ) 102 108

Debt designated as hedged item in fair value hedges Interest expense, net 21 361 ( 47 6 ) 62 423 ( 102 108 )

Interest expense, net 6 5 12 10 18 15

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The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of June September 30, 2026 and December 31, 2025:

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Cash and equivalents $ 6,569 10,774 $ 6,226 7,837 $ 343 2,937 $ — $ 5,229 $ 4,868 $ 361 $ —

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Debt securities 17 — 17 — 24 — 24 —

Equity securities 86 38 48 — 103 62 41 —

Total assets $ 6,957 $ 6,264 $ 693 $ — $ 5,457 $ 4,930 $ 527 $ —

Financing liability 403 — — 403 378 — — 378

Debt securities 9 — 9 — 24 — 24 —

Equity securities 196 139 57 — 103 62 41 —

Interest rate swap contracts 19 14 — 19 14 — 30 — 30 —

Foreign currency contracts 260 276 — 260 276 — 61 — 61 —

Total assets $ 11,275 $ 7,976 $ 3,299 $ — $ 5,457 $ 4,930 $ 527 $ —

Interest rate swap contracts $ 63 414 $ — $ 63 414 $ — $ 21 $ — $ 21 $ —

Foreign currency contracts 221 226 — 221 226 — 519 — 519 —

Financing liabilities 938 — — 938 378 — — 378

Contingent consideration 27,495 27,312 — — 27,495 27,312 25,374 — — 25,374

Total liabilities $ 28,182 28,890 $ — $ 284 640 $ 27,898 28,250 $ 26,292 $ — $ 540 $ 25,752

1 unchanged paragraph

The financing liability is liabilities are related to financing arrangements which the company elected to account for in accordance with the fair value option, as permitted under ASC 825 Financial Instruments . The fair value measurement of the financing liability liabilities was determined based on significant unobservable inputs. Potential payments are estimated by applying a probability-weighted expected payment model, which are then discounted to present value. Changes to the fair value of the financing liability liabilities can result from changes to one or a number of inputs, including discount rates, estimated probabilities and timing of achieving milestones and estimated amounts of future sales. The change in fair value recognized in net earnings is recorded in other expense, net in the condensed consolidated statements of earnings and the change in fair value attributable to instrument-specific credit risk is recognized in other comprehensive income (loss). Changes in fair value recognized in other expense, net and in other comprehensive income (loss) for the three and six nine months ended June September 30, 2026 and June September 30, 2025 were insignificant.

2 unchanged paragraphs

June September 30, 2026 December 31, 2025

2 unchanged paragraphs

Discount rate 4.2 % - 5.5 %

Discount rate 4.5 % - 6.2 %

3 unchanged paragraphs

(b) At June September 30, 2026, the estimated probability of payment was 100 % for approved Skyrizi indications and 38 % for pipeline assets in combination with Skyrizi based on the weighted probabilities of achieving regulatory approval. Excludes early-stage pipeline assets with 0 % estimated probability of payment.

(c) At June September 30, 2026, the projected year of payments ends in 2037 for Skyrizi and in 2044 for pipeline assets in combination with Skyrizi.

3 unchanged paragraphs

Payments ( 1,784 ) ( 1,408 )

Change in fair value recognized in net earnings 3,905 4,313 4,734 5,089

Payments ( 2,796 ) ( 2,184 )

Ending balance $ 27,495 27,312 $ 24,649

(a) Additions during the six nine months ended June September 30, 2025, represent contingent consideration liabilities related to the Nimble acquisition.

1 unchanged paragraph

Certain financial instruments are carried at historical cost or some basis other than fair value. The book value, fair value and bases used to measure the approximate fair values of certain financial instruments as of June September 30, 2026 are shown in the table below:

3 unchanged paragraphs

Total liabilities $ 70,502 $ 66,758 $ 64,325 $ 2,433 $ —

Total liabilities $ 80,407 $ 72,930 $ 70,545 $ 2,385 $ —

(a) Excludes the effects of fair value hedges and financing liability. liabilities.

7 unchanged paragraphs

AbbVie also holds investments in equity securities that do not have readily determinable fair values. The company records these investments at cost and remeasures them to fair value based on certain observable price changes or impairment events as they occur. The carrying amount of these investments was $ 162 176 million as of June September 30, 2026 and $ 159 million as of December 31, 2025. No significant cumulative upward or downward adjustments have been recorded for these investments as of June September 30, 2026.

1 unchanged paragraph

Of total net accounts receivable, three U.S. wholesalers accounted for 82 % as of June September 30, 2026 and 84 % as of December 31, 2025, and substantially all of AbbVie's pharmaceutical product net revenues in the United States were to these three wholesalers.

2 unchanged paragraphs

In connection with the acquisition of Apogee, in August 2026, the company issued $ 10.0 billion aggregate principal amount of unsecured senior notes. The following table summarizes the issued debt in connection with the acquisition of Apogee:

Senior Floating Rate Notes due 2028 (a)

4.50 % Senior Notes due 2028

4.65 % Senior Notes due 2030

4.875 % Senior Notes due 2031

5.05 % Senior Notes due 2033

5.30 % Senior Notes due 2036

5.45 % Senior Notes due 2038

6.00 % Senior Notes due 2056

6.10 % Senior Notes due 2066

Total debt issued $ 10,000

(a) Senior floating rate notes bear interest at adjusted Secured Overnight Financing Rate + 0.420 %.

10 unchanged paragraphs

The notes are unsecured, unsubordinated obligations of AbbVie and will rank equally in right of payment with all of AbbVie's existing and future unsecured, unsubordinated indebtedness, liabilities and other obligations. AbbVie may redeem the fixed-rate senior notes prior to maturity at a redemption price equal to the greater of the principal amount or the sum of present values of the remaining scheduled payments of principal and interest plus a make-whole premium. With the exception of the fixed-rate senior notes due 2028, AbbVie may also redeem the fixed-rate senior notes at par between one and six months prior to maturity. The senior floating rate notes may not be redeemed prior to maturity.

4 unchanged paragraphs

Financing related to the proposed acquisition of Apogee

Subsequent to June 30, 2026, in connection with the proposed acquisition of Apogee, AbbVie entered into a $ 10.0 billion 364-day senior unsecured term loan facility. No amounts have been drawn under the term loan facility as of the date of filing of this Quarterly Report on Form 10-Q.

1 unchanged paragraph

1 unchanged paragraph

and 3 more changes in the filing

Note 8: Post-Employment Benefits 15 changes

2 unchanged paragraphs

June 30, Six months ended

June 30, Six months ended

September 30, Nine months ended

June September 30, Three months ended

September 30, Nine months ended

1 unchanged paragraph

Service cost $ 68 $ 68 $ 131 $ 131 $ 10 $ 10 $ 21 $ 20

Interest cost 128 124 250 241 10 11 21 22

Amortization of actuarial loss 12 10 20 16 2 2 4 4

Net periodic benefit cost (credit) $ ( 14 ) $ ( 6 ) $ ( 45 ) $ ( 26 ) $ 13 $ 14 $ 28 $ 28

Service cost $ 63 $ 66 $ 194 $ 197 $ 11 $ 10 $ 32 $ 30

Interest cost 121 122 371 363 11 11 32 33

Expected return on plan assets ( 222 ) ( 208 209 ) ( 446 668 ) ( 414 623 ) — — — —

Amortization of prior service credit — — — — ( 9 8 ) ( 9 ) ( 18 26 ) ( 18 27 )

Amortization of actuarial loss 8 8 28 24 1 3 5 7

Net periodic benefit cost (credit) $ ( 30 ) $ ( 13 ) $ ( 75 ) $ ( 39 ) $ 15 $ 15 $ 43 $ 43

1 unchanged paragraph

Note 9: Equity 46 changes

2 unchanged paragraphs

June 30, Six months ended

September 30, Nine months ended

1 unchanged paragraph

Cost of products sold $ 9 $ 11 $ 34 $ 33

Research and development 66 79 248 239

Pre-tax compensation expense 166 179 610 589

Tax benefit ( 29 ) ( 34 ) ( 104 ) ( 104 )

After-tax compensation expense $ 137 $ 145 $ 506 $ 485

Cost of products sold $ 10 $ 10 $ 44 $ 43

Research and development 71 76 319 315

Selling, general and administrative 79 123 407 440

Pre-tax compensation expense 160 209 770 798

Tax benefit ( 31 ) ( 35 ) ( 135 ) ( 139 )

After-tax compensation expense $ 129 $ 174 $ 635 $ 659

In addition to stock-based compensation expense included in the table above and in connection with the 2026 acquisition of Apogee and the 2025 acquisition of Capstan, AbbVie incurred cash-settled, post-closing expense for employee incentive awards related to these transactions, which is summarized in the table below:

Three and nine months ended September 30,

(in millions) 2026 2025

Research and development $ 119 $ 28

Selling, general and administrative 91 89 328 317 199 67

Total post-closing cash settled expense $ 318 $ 95

During the six nine months ended June September 30, 2026, primarily in connection with the company's annual grant, AbbVie granted 0.4 million stock options with a weighted-average grant-date fair value of $ 48.38 48.41 . As of June September 30, 2026, $ 11 10 million of unrecognized compensation cost related to stock options is expected to be recognized as expense over approximately the next two years .

1 unchanged paragraph

During the six nine months ended June September 30, 2026, primarily in connection with the company's annual grant, AbbVie granted 4.5 4.9 million RSUs and performance shares with a weighted-average grant-date fair value of $ 229.77 231.06 . As of June September 30, 2026, $ 1.0 billion 853 million of unrecognized compensation cost related to RSUs and performance shares is expected to be recognized as expense over approximately the next two years .

1 unchanged paragraph

Date Declared Payment Date Dividend Per Share Date Declared

2 unchanged paragraphs

AbbVie repurchased 5 million shares for $ 1.1 billion during the six nine months ended June September 30, 2026 and 3 million shares for $ 606 million during the six nine months ended June September 30, 2025. AbbVie's remaining stock repurchase authorization was approximately $ 1.8 billion as of June September 30, 2026.

1 unchanged paragraph

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the six nine months ended June September 30, 2026:

3 unchanged paragraphs

Balance as of June 30, 2026 $ ( 981 ) $ ( 190 ) $ ( 244 ) $ 257 $ ( 1,158 )

Other comprehensive income (loss) before reclassifications ( 348 398 ) 290 348 ( 5 4 ) 96 33 101 47

Net losses (gains) reclassified from accumulated other comprehensive loss — ( 58 86 ) 4 7 13 ( 47 69 )

Net current-period other comprehensive income (loss) ( 348 ) 232 398 ) 1 262 — 103 114 ( 14 22 )

Balance as of September 30, 2026 $ ( 1,031 ) $ ( 160 ) $ ( 243 ) $ 268 $ ( 1,166 )

Other comprehensive loss for the six nine months ended June September 30, 2026 included foreign currency translation adjustments totaling a loss of $ 348 398 million principally due to the impact of the weakening of the Euro on the translation of the company's Euro-denominated assets and the offsetting impact of net investment hedging activities totaling a gain of $ 232 262 million.

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the six nine months ended June September 30, 2025:

4 unchanged paragraphs

Balance as of June 30, 2025 $ ( 576 ) $ ( 432 ) $ ( 662 ) $ 132 $ ( 1,538 )

Other comprehensive income (loss) before reclassifications 1,538 1,489 ( 925 885 ) 1 3 ( 142 105 ) 472 502

Net losses (gains) reclassified from accumulated other comprehensive loss — ( 56 85 ) 1 2 ( 30 68 ) ( 85 151 )

Net current-period other comprehensive income (loss) 1,538 1,489 ( 981 970 ) 2 5 ( 172 173 ) 387 351

Balance as of September 30, 2025 $ ( 625 ) $ ( 421 ) $ ( 659 ) $ 131 $ ( 1,574 )

Other comprehensive income for the six nine months ended June September 30, 2025 included foreign currency translation adjustments totaling a gain of $ 1.5 billion principally due to the impact of the strengthening of the Euro on the translation of the company's Euro-denominated assets and the offsetting impact of net investment hedging activities totaling a loss of $ 981 970 million.

1 unchanged paragraph

June 30, Six months ended

September 30, Nine months ended

3 unchanged paragraphs

Tax expense 7 8 15 15

Tax expense 9 8 24 23

Total reclassifications, net of tax $ ( 29 28 ) $ ( 29 ) $ ( 58 86 ) $ ( 56 85 )

2 unchanged paragraphs

Tax benefit ( 2 ) ( 1 ) ( 2 ) ( 1 )

Tax benefit ( 1 ) ( 1 ) ( 3 ) ( 2 )

Total reclassifications, net of tax $ 3 — $ 2 1 $ 4 $ 1 2

2 unchanged paragraphs

Total reclassifications, net of tax $ 3 6 $ ( 28 38 ) $ 7 13 $ ( 30 68 )

3 unchanged paragraphs

Note 10: Income Taxes 1 change

The effective tax rate was 15 13 % for the three months and 19 16 % for the six nine months ended June September 30, 2026 compared to 39 74 % for the three months and 31 39 % for the six nine months ended June September 30, 2025. The effective tax rate in each period differed from the U.S. statutory tax rate of 21 % principally due to the impact of foreign operations which reflect lower income tax rates in locations outside the United States partially offset by changes in fair value of contingent consideration and business development activities. The decrease in the effective tax rate for the three and six nine months ended June September 30, 2026 over the prior year was primarily due to the decreased impact of business development activities and changes in fair value of contingent consideration, and business development activities. The decrease in the effective tax rate for the three months ended June 30, 2026 over the prior year was partially offset by changes in the impact of foreign operations.

Note 11: Legal Proceedings and Contingencies 6 changes

AbbVie is subject to contingencies, such as various claims, legal proceedings and investigations regarding product liability, intellectual property, commercial, securities and other matters that arise in the normal course of business. Loss contingency provisions are recorded for probable losses at management's best estimate of a loss, or when a best estimate cannot be made, a minimum loss contingency amount within a probable range is recorded. The recorded accrual balance for litigation was approximately $ 1.7 1.3 billion as of June September 30, 2026 and $ 1.6 billion as of December 31, 2025. For litigation matters discussed below for which a loss is probable or reasonably possible, the company is unable to estimate the possible loss or range of loss, if any, beyond the amounts accrued. Initiation of new legal proceedings or a change in the status of existing proceedings may result in a change in the estimated loss accrued by AbbVie. While it is not feasible to predict the outcome of all proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on AbbVie's consolidated financial position, results of operations or cash flows.

1 unchanged paragraph

Lawsuits are pending against AbbVie and others generally alleging that the 2005 patent litigation settlement involving Niaspan entered into between Kos Pharmaceuticals, Inc. (a company acquired by Abbott Laboratories in 2006 and presently a subsidiary of AbbVie) and a generic company violated federal and state antitrust laws and state unfair and deceptive trade practices and unjust enrichment laws. Plaintiffs generally seek monetary damages and/or injunctive relief and attorneys' fees. The lawsuits pending in federal court consist of six individual plaintiff lawsuits and a certified class action by Niaspan direct purchasers. The cases are pending in the United States District Court for the Eastern District of Pennsylvania for coordinated or consolidated pre-trial proceedings under the federal multi-district litigation (MDL) Rules as In re: Niaspan Antitrust Litigation, MDL No. 2460. In October 2016, the Orange County, California District Attorney's Office filed a lawsuit on behalf of the State of California regarding the Niaspan patent litigation settlement in Orange County Superior Court, asserting a claim under the unfair competition provision of the California Business and Professions Code seeking injunctive relief, restitution, civil penalties and attorneys' fees.

1 unchanged paragraph

Lawsuits are pending against Allergan and several other manufacturers generally alleging that they improperly promoted and sold prescription opioid products. Approximately 215 195 lawsuits are pending against Allergan in federal and state courts. Most of the federal court lawsuits are consolidated for pre-trial purposes in the United States District Court for the Northern District of Ohio under the MDL rules as In re: National Prescription Opiate Litigation, MDL No. 2804. Approximately 20 25 of the lawsuits are pending in various state courts. The plaintiffs in these lawsuits, which include counties, cities, other municipal entities, Native American tribes, union trust funds and other third-party payors, private hospitals and personal injury claimants, generally seek compensatory and punitive damages. Of these approximately 215 195 lawsuits, approximately 20 of them are brought by counties, cities and other municipal entities, approximately 5 of which are in the process of being dismissed pursuant to the previously announced settlement.

2 unchanged paragraphs

Lawsuits are pending against various Allergan entities in the United States and other countries including Australia, Brazil, Canada and South Korea, in which plaintiffs generally allege that they developed, or may develop, breast implant-associated anaplastic large cell lymphoma (ALCL) or other injuries from Allergan's Biocell textured breast implants, which were voluntarily withdrawn from worldwide markets in 2019. In June 2026, AbbVie reached an agreement to resolve substantially all the United States-based ALCL lawsuits, which will be dismissed with prejudice. Approximately 1,300 other lawsuits are coordinated for pre-trial purposes in the United States District Court for the District of New Jersey under the MDL rules as In re: Allergan Biocell Textured Breast Implant Product Liability Litigation, MDL No. 2921; approximately 475 other lawsuits are pending in various U.S. state courts; and approximately 1,080 1,095 lawsuits are pending in other countries. In December 2025, the Amsterdam District Court dismissed all claims pending against Allergan and affiliated entities in the Netherlands. In March 2026, the plaintiffs in the Netherlands filed a notice of appeal of this dismissal to the Amsterdam Court of Appeal. Plaintiffs generally seek monetary damages, medical monitoring and attorneys' fees.

In January 2025, a putative class action lawsuit, Sheet Metal Workers' Health Plan of Southern California, Arizona and Nevada v. AbbVie Inc., was filed in the United States District Court for the Northern District of Illinois on behalf of third-party payors of Humira, alleging that AbbVie's rebating practices are impairing biosimilar competition with Humira in violation of federal and state antitrust laws. The plaintiff generally seeks monetary damages, injunctive relief and attorneys' fees. In September 2026, the court partially granted AbbVie's motion to dismiss, dismissing seven of plaintiff's nine claims, including all claims seeking monetary damages, without prejudice.

2 unchanged paragraphs

AbbVie is seeking to enforce patent rights related to atogepant (a drug sold under the trademark Qulipta). Litigation was filed in the United States District Court for the District of New Jersey in December 2025 and January 2026 against Apotex Inc.; Macleods Pharmaceuticals Ltd. and Macleods Pharma USA, Inc.; Dr. Reddy's Laboratories, Ltd. and Dr. Reddy's Laboratories, Inc.; MSN Pharmaceuticals Inc., MSN Laboratories Private Limited, and MSN Life Sciences Private Limited; Hetero USA Inc., Hetero Labs Limited Unit-III, Hetero Labs Limited, and Honour Lab Limited; and Micro Labs Limited and Micro Labs USA, Inc. AbbVie alleges defendants' proposed generic atogepant products infringe certain patents and seeks declaratory and injunctive relief.

Note 12: Segment Information 116 changes

1 unchanged paragraph

The CODM regularly reviews net revenues, net earnings and significant segment expenses and uses net earnings as its principal measure of segment profit or loss. Net earnings and significant segment expenses reviewed by the CODM are reported on the condensed consolidated statements of earnings for the periods ended June September 30, 2026 and 2025. The CODM uses net earnings as its principal measure of segment profit or loss to compare past financial performance with current performance and analyze underlying business performance and trends. The CODM does not use segment assets to make decisions regarding resources; therefore, the total asset disclosure has not been included.

1 unchanged paragraph

June 30, Six months ended

September 30, Nine months ended

1 unchanged paragraph

Skyrizi United States $ 4,767 $ 3,843 $ 8,542 $ 6,762

International 738 580 1,446 1,086

Total $ 5,505 $ 4,423 $ 9,988 $ 7,848

Rinvoq United States $ 1,765 $ 1,452 $ 3,170 $ 2,672

International 760 576 1,474 1,074

Total $ 2,525 $ 2,028 $ 4,644 $ 3,746

Humira United States $ 425 $ 802 $ 782 $ 1,546

International 331 378 662 755

Total $ 756 $ 1,180 $ 1,444 $ 2,301

Vraylar United States $ 1,068 $ 898 $ 1,970 $ 1,661

International 3 2 6 4

Total $ 1,071 $ 900 $ 1,976 $ 1,665

Botox Therapeutic United States $ 864 $ 775 $ 1,706 $ 1,498

International 178 153 345 296

Total $ 1,042 $ 928 $ 2,051 $ 1,794

Ubrelvy United States $ 379 $ 330 $ 709 $ 563

International 13 8 22 15

Total $ 392 $ 338 $ 731 $ 578

Qulipta United States $ 289 $ 237 $ 539 $ 409

International 61 30 107 51

Total $ 350 $ 267 $ 646 $ 460

Vyalev United States $ 128 $ 22 $ 217 $ 28

International 128 76 240 133

Total $ 256 $ 98 $ 457 $ 161

Other Neuroscience United States $ 43 $ 71 $ 89 $ 146

International 74 81 153 161

Total $ 117 $ 152 $ 242 $ 307

Venclexta United States $ 369 $ 321 $ 710 $ 633

International 402 370 831 723

Total $ 771 $ 691 $ 1,541 $ 1,356

June 30, Six months ended

Skyrizi United States $ 5,019 $ 4,085 $ 13,561 $ 10,847

International 757 623 2,203 1,709

Total $ 5,776 $ 4,708 $ 15,764 $ 12,556

Rinvoq United States $ 1,924 $ 1,559 $ 5,094 $ 4,231

International 782 625 2,256 1,699

Total $ 2,706 $ 2,184 $ 7,350 $ 5,930

Humira United States $ 372 $ 619 $ 1,154 $ 2,165

International 311 374 973 1,129

Total $ 683 $ 993 $ 2,127 $ 3,294

Vraylar United States $ 1,064 $ 931 $ 3,034 $ 2,592

International 4 3 10 7

Total $ 1,068 $ 934 $ 3,044 $ 2,599

Botox Therapeutic United States $ 912 $ 825 $ 2,618 $ 2,323

International 168 160 513 456

Total $ 1,080 $ 985 $ 3,131 $ 2,779

Ubrelvy United States $ 438 $ 344 $ 1,147 $ 907

International 11 10 33 25

Total $ 449 $ 354 $ 1,180 $ 932

Qulipta United States $ 333 $ 252 $ 872 $ 661

International 65 36 172 87

Total $ 398 $ 288 $ 1,044 $ 748

Vyalev United States $ 154 $ 53 $ 371 $ 81

International 132 85 372 218

Total $ 286 $ 138 $ 743 $ 299

Other Neuroscience United States $ 38 $ 58 $ 127 $ 204

International 70 84 223 245

Total $ 108 $ 142 $ 350 $ 449

Venclexta United States $ 385 $ 341 $ 1,095 $ 974

International 418 385 1,249 1,108

Total $ 803 $ 726 $ 2,344 $ 2,082

September 30, Nine months ended

1 unchanged paragraph

Imbruvica United States $ 337 $ 543 $ 669 $ 1,072

Collaboration revenues 195 211 419 420

Total $ 532 $ 754 $ 1,088 $ 1,492

Imbruvica United States $ 340 $ 507 $ 1,009 $ 1,579

Collaboration revenues 182 199 601 619

Total $ 522 $ 706 $ 1,610 $ 2,198

1 unchanged paragraph

Total $ 211 $ 159 $ 409 $ 338

Total $ 224 $ 170 $ 633 $ 508

1 unchanged paragraph

International 39 21 71 36

Total $ 103 $ 70 $ 186 $ 121

and 41 more changes in the filing

MD&A 211 changes

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

4 unchanged paragraphs

3 unchanged paragraphs

1 unchanged paragraph

4 unchanged paragraphs

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

4 unchanged paragraphs

5 unchanged paragraphs

4 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

and 211 more changes in the filing

Forward-looking statements 2 changes

and 2 more changes in the filing

Controls and procedures 1 change

3 unchanged paragraphs

2 unchanged paragraphs

and 1 more change in the filing

Unregistered sales of stock 7 changes

1 unchanged paragraph

1 unchanged paragraph

and 7 more changes in the filing

Other items 1 change

1 unchanged paragraph

and 1 more change in the filing

Exhibits 3 changes

6 unchanged paragraphs

4 unchanged paragraphs

and 3 more changes in the filing