ABBV · 8-K · 20260731PR000023

Operating Expense Trends

AbbVie Inc. · 2026-07-31 · Importance 62 · Surprise 46 · No source text

Second-quarter GAAP SG&A expense increased to $3.632 billion from $3.253 billion, representing 21.4% of revenue versus an implied 21.1% a year earlier. GAAP R&D expense rose to $2.344 billion from $2.131 billion, or 13.8% of revenue versus an implied 13.8% a year earlier. Acquired IPR&D and milestones expense declined to $291 million from $823 million, reducing the reported operating-cost burden by $532 million year over year. Six-month SG&A was $7.210 billion and R&D was $4.816 billion, increases of 10.1% and 14.7%, respectively, from the prior-year periods.

Key facts

• Specified items for the quarter ended June 30, 2026 included intangible asset amortization pre-tax of $1,689 million and change in fair value of contingent consideration pre-tax of $1,518 million. source
• Selling, general and administrative expense for the quarter ended June 30, 2026: $3,632 million. source
• Research and development expense for the quarter ended June 30, 2026: $2,344 million. source
• On a GAAP basis, SG&A expense was 21.4 percent of net revenues in the second quarter; adjusted SG&A was 21.0 percent of net revenues. source
• On a GAAP basis, R&D expense was 13.8 percent of net revenues in the second quarter; adjusted R&D expense was 13.6 percent of net revenues. source
• Net interest expense in the second quarter was $679 million. source

Impact estimates