AbbVie's oncology revenues fell 2.4% year over year to $1.65 billion in the second quarter of 2026, pressured by a 29.4% drop in Imbruvica sales to $532 million. The decline was attributed to competitive pressure and IRA-driven pricing changes. Growth in other oncology products partially offset the decline, with Venclexta sales up nearly 10% to $771 million, Elahere up 32% to $211 million, and Epkinly up 48% to $103 million. The quarter also marked the launch of Decnupaz, AbbVie's first marketed ADC in hematology, following FDA approval for BPDCN. AbbVie shares have gained 16% year to date, underperforming the industry's 18% growth, and the stock trades at 17.15 times forward earnings, below the industry average of 19.44.
AbbVie IncImbruvica sales fell 29.4% due to competitive pressure and IRA pricing changes, dragging oncology revenues down 2.4%.
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