July 31, 2026

AbbVie Q2 Skyrizi + Rinvoq +24%, Section 232 Pharma Tariffs Take Effect, AIDS 2026 Closes, July Policy Wrap-Up

AbbVie Q2 beats: Skyrizi +24.4% $5.5B, Rinvoq +24.5% $2.5B. Section 232 tariffs live. AIDS 2026 wraps. July peptide-and-obesity policy synthesis.

4 stories · Covering industry, regulatory, clinical-trials

Editor's Note

Friday closed a substantive week for peptide-adjacent pharma. AbbVie (NYSE: ABBV) reported Q2 2026 earnings before market open with total net revenues of $17 billion (+10.2%), beating consensus by $300 million. Skyrizi (risankizumab) reached $5.505 billion (+24.4% YoY) and Rinvoq (upadacitinib) reached $2.525 billion (+24.5% YoY), with AbbVie now expecting the two drugs to generate approximately $32 billion in combined annual sales. Humira (adalimumab) continued its biosimilar-driven decline at -35.9% YoY to $756 million. On the regulatory side, President Trump's Section 232 pharmaceutical tariffs took effect Friday July 31 for the 17 named companies in the initial tranche, with the broader pharmaceutical industry facing a September 29 deadline; the July 31 effective date closes the transition window that began at the April 30, 2026 investigation announcement. The 26th International AIDS Conference (AIDS 2026) closed Friday July 31 at Riocentro in Rio de Janeiro after six days of programming including the Wednesday Gilead-Merck ISLEND-1 and ISLEND-2 late-breaker on once-weekly oral islatravir/lenacapavir, the Gilead PURPOSE 1 and PURPOSE 2 52-week open-label extension data on twice-yearly injectable lenacapavir, and the Monday UNAIDS 'United to End AIDS' 2025 data report on 2025 HIV funding cuts. And July closed as the most consequential peptide-policy month in the site's coverage window with the July 23-24 PCAC vote recommending 6 of 7 peptides for the 503A Bulks List, the July 30 close of the 503B GLP-1 exclusion comment period, and the July 1 Medicare GLP-1 Bridge Program launch providing Wegovy, Zepbound KwikPen, and Foundayo at $50/month capped copay for eligible Medicare Part D beneficiaries.

Industry

AbbVie (NYSE: ABBV) Reports Q2 2026 Earnings Friday July 31 With Total Net Revenues of $17 Billion (+10.2% Year-Over-Year, Beating Consensus by $300 Million), Skyrizi (Risankizumab) Global Net Revenues of $5.505 Billion (+24.4% YoY Reported / +24.0% YoY Operational) and Rinvoq (Upadacitinib) Global Net Revenues of $2.525 Billion (+24.5% YoY Reported / +23.7% YoY Operational); AbbVie Now Expects the Combined Skyrizi and Rinvoq Franchise to Generate Approximately $32 Billion in Peak Annual Sales; Humira Continues Biosimilar-Driven Decline at -35.9% YoY to $756 Million; Neuroscience Portfolio Delivers +20% Growth With Vraylar, Botox Therapeutic, Ubrelvy, and Qulipta All Achieving Double-Digit Sales Growth

AbbVie (NYSE: ABBV) reported Q2 2026 earnings Friday July 31, 2026 before market open with total net revenues of $17 billion (+10.2% year-over-year), beating consensus by $300 million. Skyrizi (risankizumab, IL-23p19 monoclonal antibody for psoriasis, psoriatic arthritis, and inflammatory bowel disease) reached global Q2 net revenues of $5.505 billion (+24.4% YoY reported, +24.0% YoY operational). Rinvoq (upadacitinib, oral JAK1-selective inhibitor for rheumatoid arthritis, atopic dermatitis, and inflammatory bowel disease) reached global Q2 net revenues of $2.525 billion (+24.5% YoY reported, +23.7% YoY operational), with Rinvoq on pace for 30% growth in gastroenterology this year. AbbVie now expects the combined Skyrizi and Rinvoq franchise to generate approximately $32 billion in peak annual sales, with management anticipating combined peak sales for Rinvoq in vitiligo and alopecia areata to approach $2 billion. Humira (adalimumab, the anchor immunology franchise before biosimilar competition began in 2023) continued its expected decline at $756 million Q2 revenue, -35.9% YoY reported / -36.1% YoY operational. The neuroscience portfolio delivered approximately 20% Q2 growth with Vraylar, Botox Therapeutic, Ubrelvy, and Qulipta all achieving double-digit sales growth. Full-year 2026 guidance was reiterated at $14.08-14.28 adjusted EPS on approximately $67 billion in revenue.

#abbvie #abbv #q2-2026-earnings #skyrizi #risankizumab #rinvoq #upadacitinib #humira #adalimumab #il-23 #jak1-inhibitor #immunology #vraylar #neuroscience-portfolio

Regulatory

President Trump's Section 232 Pharmaceutical Tariffs Take Effect Friday July 31, 2026 for the 17 Companies Named in the Initial Tranche of the Section 232 National-Security Investigation Announced April 1, 2025 and Formally Initiated April 30, 2026; The Broader Pharmaceutical Industry Faces a September 29 Deadline for Additional Tariff Applicability, With the Peptide-and-Obesity Sponsors (Novo Nordisk, Eli Lilly, Merck, AstraZeneca, Sanofi, AbbVie, Roche, Bristol-Myers Squibb, Amgen, Pfizer, and Biogen) All Facing Potential 25% Import Duties Depending on Manufacturing-Location Documentation

President Trump's Section 232 pharmaceutical tariffs took effect Friday July 31, 2026 for the 17 companies named in the initial tranche of the Section 232 national-security investigation. The Section 232 pathway allows the President to impose tariffs on imports that threaten national security; the pharmaceutical investigation was announced April 1, 2025 by the Commerce Department under the Trump administration and formally initiated April 30, 2026. Companies in the initial tranche face tariffs on active pharmaceutical ingredient (API) and finished-drug imports depending on manufacturing-location documentation; the broader pharmaceutical industry faces a September 29 deadline for additional tariff applicability. Peptide-and-obesity-relevant sponsors including Novo Nordisk (Wegovy/Ozempic semaglutide, primarily manufactured in Denmark), Eli Lilly (Zepbound/Mounjaro tirzepatide and Foundayo orforglipron, primarily manufactured in Ireland and Indiana), Merck (LIPFENDRA/enlicitide macrocyclic peptide PCSK9, manufacturing across US and Ireland), AstraZeneca (elecoglipron and biologics portfolio), Sanofi (Dupixent dupilumab), AbbVie (Skyrizi and Rinvoq), Roche, Bristol-Myers Squibb, Amgen, Pfizer, and Biogen all face potential 25% import duties depending on manufacturing-location documentation. President Trump also announced Tuesday July 21 that imported generic drugs would face zero tariffs for two years starting August 2028, providing a two-year runway before generic tariffs begin.

#section-232 #pharmaceutical-tariffs #trump-administration #commerce-department #manufacturing-location #api-tariffs #novo-nordisk #eli-lilly #merck #astrazeneca

Clinical Trials

The 26th International AIDS Conference (AIDS 2026) Closes Friday July 31 at Riocentro in Rio de Janeiro Brazil After Six Days of Programming (July 26-31) With Approximately 10,000 In-Person and Virtual Attendees Under the Conference Theme 'Rethink. Rebuild. Rise.'; Signature Presentations Across the Week Included the Wednesday July 29 Gilead-Merck ISLEND-1 and ISLEND-2 Late-Breaker on the Investigational Once-Weekly Oral Islatravir/Lenacapavir HIV Treatment Regimen, Gilead's Twice-Yearly Injectable Lenacapavir PURPOSE 1 and PURPOSE 2 52-Week Open-Label Extension Data, and the UNAIDS 'United to End AIDS' 2025 Data Report Documenting 2025 HIV Funding Cuts

The 26th International AIDS Conference (AIDS 2026) closed Friday July 31, 2026 at Riocentro in Rio de Janeiro, Brazil after six days of programming under the conference theme 'Rethink. Rebuild. Rise.' Approximately 10,000 attendees participated in person and virtually. Signature presentations across the week: the Wednesday July 29 Gilead-Merck ISLEND-1 and ISLEND-2 late-breaker with Week 48 detailed Phase 3 data on the investigational once-weekly oral single-tablet islatravir 2 mg / lenacapavir 300 mg regimen (0% ISLEND-1 vs 0.3% daily Biktarvy at Week 48; 0.3% ISLEND-2 vs 1.3% daily standard-of-care); Gilead's twice-yearly subcutaneous lenacapavir (Yeztugo for HIV prevention) 52-week open-label extension data from Phase 3 PURPOSE 1 and PURPOSE 2 (zero new infections across 7,178 person-years, one infection across 5,295 person-years); the Monday July 27 UNAIDS 'United to End AIDS' 2025 data report on 2025 HIV funding cuts; and Thursday July 30 lenacapavir implementation-science programming with a cross-country demand generation playbook for scale-up. Generic lenacapavir from Dr. Reddy's Laboratories, Hetero Labs, and four other manufacturers is expected in 2027 at approximately $40 per person per year across 120 low- and lower-middle-income countries. The next International AIDS Conference (AIDS 2028) will be held in Barcelona, Spain.

#aids-2026 #conference-close #rio-de-janeiro #riocentro #islend-1 #islend-2 #purpose-1 #purpose-2 #lenacapavir #islatravir #gilead #merck #unaids

Industry

July 2026 Peptide-and-Obesity Regulatory-and-Industry Month-in-Review: The Most Consequential Policy Month in the Site's Coverage Window With the July 1 Medicare GLP-1 Bridge Program Launch (Wegovy, Zepbound KwikPen, and Foundayo at $50/Month Copay for ~3.8 Million Eligible Part D Beneficiaries Through December 31 2027), the July 23-24 FDA Pharmacy Compounding Advisory Committee (PCAC) Two-Day Session Recommending 6 of 7 Research Peptides for the Section 503A Bulks List (BPC-157, KPV, TB-500, MOTS-c, Semax, Epitalon Approved; Emideltide/DSIP Rejected), the July 16 FDA Approval of Merck LIPFENDRA (Enlicitide) as the First Once-Daily Oral Macrocyclic Peptide PCSK9 Inhibitor, and the July 30 Close of the 503B GLP-1 Bulks List Exclusion Comment Period

July 2026 closed as the most consequential peptide-and-obesity policy month in the site's coverage window. Regulatory milestones: the July 1 Medicare GLP-1 Bridge Program launch providing Wegovy (semaglutide), Zepbound KwikPen (tirzepatide), and Foundayo (orforglipron) at $50/month capped copay for approximately 3.8 million eligible Medicare Part D beneficiaries through December 31, 2027; the July 23-24 FDA Pharmacy Compounding Advisory Committee (PCAC) two-day session recommending 6 of 7 research peptides for the Section 503A Bulks List (BPC-157 8-6-1, KPV 8-6-1, TB-500 8-6, MOTS-c 7-5-2, Semax 8-5, Epitalon 7-4; Emideltide/DSIP rejected); the July 30 close of the 503B GLP-1 Bulks List exclusion comment period on the April 30 proposed rule to permanently exclude semaglutide, tirzepatide, and liraglutide; and the Section 232 pharmaceutical tariffs effective date July 31. Product milestones: the July 16 FDA approval of Merck LIPFENDRA (enlicitide) as the first once-daily oral macrocyclic peptide PCSK9 inhibitor (56-59% LDL reduction in CORALreef Phase 3, $315/month launch pricing); the July 7 FDA accelerated approval of Vera Therapeutics TRUTAKNA (atacicept-vymj) for primary IgA nephropathy; the July 17 FDA traditional approval of Novartis Fabhalta (iptacopan) for IgAN; the July 23 Arrowhead Redemplo (plozasiran) Phase 3 SHASTA-3 and SHASTA-4 positive readout (79-81% triglyceride reduction). Industry milestones: the July 19-20 Samsung Biologics $1.8 billion all-cash tender offer for PolyPeptide; the July 21 Novo Nordisk lawsuit and July 24 TRO filing against Eli Lilly over GLP-1 advertising; the July 20-23 EMA CHMP recommendation for lerodalcibep (Lyrokaul) monthly PCSK9 fusion protein.

#july-2026-wrap #pcac #medicare-glp-1-bridge #lipfendra #trutakna #fabhalta #redemplo #samsung-polypeptide #novo-nordisk #eli-lilly #503b-bulks-list #503a-bulks-list #section-232 #lerodalcibep