AbbVie reported second-quarter 2026 results on July 31, 2026, and the dermal filler line was the weak spot in its aesthetics business. Global Juvederm net revenue was $245 million for the three months to June 30, down 6.0% from the second quarter of 2025 on a reported basis and 6.6% at constant currency.

Botox Cosmetic went the other way, at least globally. Its net revenue was $728 million, up 5.2% reported and 3.4% at constant currency (AbbVie calls that basis "operational"). The whole aesthetics portfolio came in at $1.282 billion, up 0.3% reported and down 0.9% operationally.

The product table further down the release tells a US practice owner something different.

The US column

US aesthetics revenue was $761 million, down 4.4% from a year earlier. US Botox Cosmetic was $400 million, down 2.4%. US Juvederm was $103 million, down 2.0%. Every line fell. "Other Aesthetics" dropped 8.3% in the US to $258 million.

So the global Botox Cosmetic gain came from outside the country: international revenue for the toxin rose 16.4% reported, or 12.1% operationally, to $328 million. Juvederm's steeper fall was international too: down 8.6% reported.

One quarter is a short window. For the first six months of 2026, AbbVie's table shows US Botox Cosmetic up 9.4% at $771 million and US Juvederm up 3.9% at $188 million. So the first three months were plainly stronger. That kind of swing can reflect when practices placed orders as much as how many patients they treated (our reading, not the company's). AbbVie's release doesn't explain the Juvederm decline.

Galderma's fillers grew

Galderma had reported eight days earlier. On July 23, 2026, the Swiss company said first-half Injectable Aesthetics net sales were $1.437 billion, up 12.1% at constant currency. Neuromodulators, where the release names Dysport and Relfydess, were $826 million, up 13.4%. Fillers and biostimulators, the line that holds Restylane and Sculptra, reached $611 million, up 10.5%.

That growth came "despite continued softness in the Fillers market," the company said. It credited share gains in both the US and international markets along with double-digit growth for Sculptra. The second-quarter appendix shows the line slowing, though. Fillers and biostimulators were $328 million in the quarter, up 7.6% at constant currency. Galderma also said US phasing effects that helped injectables in the first quarter "unwound in the second quarter."

Two caveats before putting those numbers next to AbbVie's. Galderma's figures are worldwide, and the release does not break injectables out by country. And its filler line counts a biostimulator, Sculptra, alongside Restylane, while AbbVie's line is the Juvederm collection alone.

Its US toxin pipeline took a hit. Galderma said it received an FDA Complete Response Letter for RelabotulinumtoxinA, announced July 1, covering what it described as remaining observations on the manufacturing site and analytical method optimization. Relfydess is approved in 33 markets, according to the same release.

What the market data says

The split between hyaluronic acid fillers and biostimulators shows up in third-party market data as well. Guidepoint Qsight, a commercial data vendor, put total US patient spending on dermal fillers at $3.5 billion in 2025, down 7%, in a deck presented at the Octane Aesthetics Forum on January 8, 2026. Spending on HA fillers was $2.7 billion, against $3.0 billion in 2024 and $3.2 billion in 2023. Biostimulator spending rose from $0.76 billion to $0.83 billion over the same two years. Neurotoxin spending, by Qsight's count, rose 6% to $6.7 billion.

There is one manufacturer on record saying the HA slide stopped in the spring. Evolus, the company behind Jeuveau that drew an FDA untitled letter dated September 28, 2026, reported its own second quarter on August 5, 2026. Chief executive David Moatazedi said in that release that the quarter saw "the hyaluronic acid category returning to positive growth following two years of declines." He was describing the market, and Evolus sells its own HA gels into it. AbbVie's US Juvederm number for the same quarter was still negative.

AbbVie will report third-quarter results on Friday, October 30, 2026, before the market opens. Read the US Juvederm line first.

Sources