New York, January 8, 2026, 13:12 ET — Regular session
AbbVie Inc shares fell on Thursday after the drugmaker denied takeover talks with Revolution Medicines and flagged a $1.3 billion fourth-quarter charge that will dent its 2025 profit outlook. AbbVie stock (ABBV) was down 3.7% at $224.84 at 1:12 p.m. ET, after swinging between $231.93 and $223.84.
The decline takes steam out of a rally sparked by a Wall Street Journal report that AbbVie was in advanced talks to buy Revolution Medicines. AbbVie told Reuters it “is not in discussions with Revolution Medicines,” and also trimmed its 2025 profit forecast after flagging the $1.3 billion charge. AbbVie has leaned on dealmaking and newer drugs to replace Humira sales since U.S. biosimilar competition — close copies of a biologic drug — hit in 2023. Reuters
An SEC filing showed the charge relates to acquired in-process research and development, or IPR&D — an upfront expense often tied to buying or licensing drug candidates — plus milestone payments. AbbVie said the item will cut both GAAP (standard accounting) and adjusted results by about 71 cents a share, and set fourth-quarter adjusted earnings at $2.61 to $2.65. It put full-year 2025 adjusted earnings at $9.90 to $9.94 and cautioned final results are not yet complete.
Revolution Medicines (RVMD) slipped 5.5% as the deal talk cooled. Traders treated AbbVie’s denial as a brake on near-term takeover hopes in early-stage oncology.
Wolfe Research downgraded AbbVie to “Peer Perform” from “Outperform” on Thursday — a roughly neutral call — arguing the stock price already reflects the growth runway for its immunology drugs Skyrizi and Rinvoq. The brokerage upgraded Merck to “Outperform” in the same move. GuruFocus
The drop left AbbVie lagging a mostly steady tape: the Health Care Select Sector SPDR ETF was down about 0.3%, while the SPDR S&P 500 ETF was up about 0.1%. Investors have been paying up for predictability in large-cap pharma, but the late-year charge put AbbVie back in the “show me” bucket.
But the bigger risk sits in the February print. If the charge signals more deal-related costs or if AbbVie guides cautiously for 2026, the stock could struggle to regain the levels it touched earlier in the session.
AbbVie will report full-year and fourth-quarter 2025 results on Feb. 4, before U.S. markets open, and plans a conference call at 8 a.m. Central. Investors will listen for 2026 guidance and any clearer line on capital allocation after this week’s takeover noise.
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