Johnson & Johnson and AbbVie both beat Q1 2026 revenue expectations and raised full-year guidance, pursuing divergent strategies to counter biosimilar headwinds.

JNJ reported Q1 2026 revenue of $24.06 billion (+9.9% YoY) with adjusted EPS of $2.70, raising FY26 revenue outlook to a midpoint of $100.8 billion. AbbVie reported $15 billion in revenue (+12.4%) with adjusted EPS of $2.65, narrowly missing consensus after a $744 million IPR&D charge clipped earnings by $0.41.

JNJ is sharpening focus by spinning off DePuy Synthes Orthopaedics and investing over $1 billion into Pennsylvania cell therapy manufacturing. AbbVie is broadening into obesity through ABBV-295, a non-incretin candidate showing weight reduction in Phase 1, while committing $1.4 billion to a North Carolina campus.

JNJ's TREMFYA leaped 68.3% as it absorbs STELARA patients, while DARZALEX reached $3.96 billion (+22.5%). For AbbVie, Skyrizi reached $4.48 billion (+30.9%) and Rinvoq added $2.12 billion (+23.3%), offsetting Humira's 38.6% decline. Both face biosimilar headwinds: JNJ's STELARA declined 59.7%, AbbVie's Humira declined 38.6%.