Gotrade News - Global pharmaceutical heavyweights delivered Q1 2026 results that topped Wall Street consensus estimates on Wednesday (29/04). Newer growth drugs more than offset the patent erosion eating into legacy blockbusters like Humira across the sector.
AbbVie (ABBV), AstraZeneca (AZN), and Teva Pharmaceuticals (TEVA) all posted double digit growth in flagship franchises. Meanwhile, Humana (HUM) beat earnings but its stock fell 5% after declining to raise full year guidance.
Key Takeaways
- AbbVie raised 2026 adjusted EPS guidance to $14.08 to $14.28 after Skyrizi grew 30.9% and Rinvoq rose 23.3% YoY.
- AstraZeneca delivered $15.3 billion in revenue with oncology up 16%, reaffirming the $80 billion 2030 target.
- Humana beat with $10.31 EPS but failed to raise its outlook, disappointing investors who expected a hike.
AbbVie Immunology Offsets Humira Erosion
AbbVie posted Q1 2026 net revenue of $15 billion, up 12.4% YoY and ahead of the $14.72 billion analyst consensus. Adjusted diluted EPS came in at $2.65, growing 7.7% from the same period a year ago.
Skyrizi delivered $4.48 billion in quarterly sales with growth of 30.9% YoY, while Rinvoq contributed $2.12 billion at 23.3% growth. The total immunology portfolio rose 16.4% to $7.29 billion, effectively replacing the revenue lost from declining Humira sales.
Management raised the 2026 adjusted diluted EPS target to $14.08 to $14.28 from prior guidance of $13.96 to $14.16. According to Yahoo Finance, the upgrade reflects strong demand for the newer immunology franchise.
Skyrizi is positioned as the principal heir to Humira across psoriasis and inflammatory bowel disease indications. Skyrizi and Rinvoq combined now contribute roughly 44% of AbbVie's total quarterly revenue.
The 3% EPS beat combined with the raised full year guide drove the bullish reaction in AbbVie shares. Botox and the aesthetics portfolio also continued to support results despite generic competition.
AstraZeneca, Humana, and Teva Round Out the Picture
AstraZeneca reported Q1 2026 revenue of $15.3 billion, up 8% YoY and beating expectations of $14.9 billion. Core EPS reached $2.58 versus the FactSet estimate of $2.53.
Growth was led by an oncology portfolio that climbed 16% at constant exchange rates. Management reaffirmed full year guidance and reiterated the ambition of reaching $80 billion in annual revenue by 2030.
The US accounts for roughly 40.8% of AstraZeneca revenue, followed by Europe at 22.9% and Africa Asia Australia at 22.8%. That geographic mix leaves AZN shares sensitive to US drug pricing policy and dollar currency moves.
Humana reported adjusted EPS of $10.31 ahead of the $10.19 consensus, with a benefit ratio of 89.4%. According to Investing.com, Humana shares still fell 5% because the company declined to raise full year guidance.
The US government approved only a 2.48% average payment hike for 2027 Medicare Advantage rates. The federal reimbursement gap versus actual healthcare costs continues to limit Humana's guidance flexibility.
Teva delivered Q1 2026 revenue of $3.98 billion with non-GAAP diluted EPS of $0.53. Austedo, Ajovy, and Uzedy collectively grew 41% YoY to $838 million, led by Austedo at $578 million.
Teva management held 2026 revenue guidance at $16.4 to $16.8 billion with free cash flow up to $2.4 billion. The strategic shift from generics to branded innovative drugs is now the main beat driver.
The four reports point to a consistent theme across large cap pharma, with newer drugs as the primary sales engine. Exposure across these four names blends immunology, oncology, managed care, and specialty drugs into a defensive sleeve.
Sources
Yahoo Finance, AbbVie beats Q1 2026 earnings, raises full-year forecast, 2026. CNBC, AstraZeneca, GSK see surprise profit bump, 2026. Investing.com, Humana reports quarterly beat, unchanged forecast underwhelms market, 2026.
