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AbbVie vs. Eli Lilly: Which Large Drugmaker Has the Edge in 2025?
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Key Takeaways
Lilly's Mounjaro and Zepbound drive half its revenues, fueling over 30% expected 2025 sales growth.
AbbVie rebounds post-Humira LOE with Skyrizi and Rinvoq, targeting $25B in combined 2025 sales.
2025 estimates for Lilly indicate 37% sales and 76.7% EPS growth, outpacing AbbVie's 7.6% and 18.9%.
Eli Lilly (LLY - Free Report) and AbbVie (ABBV - Free Report) are large, well-established U.S. pharmaceutical companies, boasting several blockbuster drugs, robust R&D pipelines, strong market capitalization and global footprint. Both companies have a strong presence in immunology, oncology and neuroscience areas. Other than that, AbbVie also has products for aesthetics and eye care, while Lilly boasts a leading presence in cardiometabolic health.
While AbbVie has seen tremendous success with its immunology drugs, Lilly’s GLP-1 drugs, Mounjaro and Zepbound, under its cardiometabolic health business, are the key to its success story.
Both stocks are generating strong revenues and profits, and look well-positioned for further growth. But which one is a better investment option today? Let’s take a closer look at their fundamentals, growth prospects and challenges to make an informed choice.
The Case for Lilly
Lilly has seen tremendous success with its popular tirzepatide medicines, diabetes drug Mounjaro and weight loss medicine, Zepbound.
Despite being on the market for a little more than three years, Mounjaro and Zepbound have become key top-line drivers for Lilly, with demand rising rapidly. Mounjaro and Zepbound account for around 50% of the company’s total revenues.
Launches of these drugs in new international markets and improved supply from ramped-up production in the United States led to strong sales in the first half of 2025. The positive trend is expected to continue in the second half. Approvals for new indications can also drive sales of Mounjaro and Zepbound higher.
In addition to Mounjaro and Zepbound, Lilly has gained approvals for several other new drugs over the past couple of years, including Omvoh, Jaypirca, Ebglyss and Kisunla. Kisunla was approved in the EU and a new drug, Inluriyo (imlunestrant), was approved in the United States for treating ER+, HER2-, ESR1-mutated advanced or metastatic breast cancer last month.
Lilly expects its new drugs, Mounjaro, Zepbound, Omvoh, Jaypirca, Ebglyss and Kisunla, along with the expanded use of existing drugs, to drive sales growth in the second half of 2025.
Lilly is investing broadly in obesity and has several new molecules currently in clinical development with a range of oral and injectable medications with different mechanisms of action. These include two late-stage candidates, orforglipron, a once-daily oral GLP-1 small molecule, and retatrutide, a GGG tri-agonist and some mid-stage candidates. Lilly has announced mixed data from two studies on orforglipron in obesity and is now set to file global regulatory applications for this much-awaited oral once-daily pill by the end of this year.
LLY is also working to diversify beyond GLP-1 drugs by expanding into cardiovascular, oncology, and neuroscience areas. In 2025, it announced three M&A deals. It acquired Verve Therapeutics to add gene therapies for heart disease to its pipeline. Lilly has also entered into agreements to acquire Scorpion Therapeutics’ oncology drug and SiteOne Therapeutics’ non-opioid pain candidate.
Lilly has its share of problems. Prices of most of Lilly’s products are declining in the United States, including Mounjaro and Zepbound, primarily due to changes to estimates for rebates and discounts. Rising competition in the GLP-1 diabetes/obesity market is a key headwind.
The Case for AbbVie
AbbVie has successfully navigated the loss of exclusivity (LOE) of its blockbuster drug, Humira, which once generated more than 50% of its total revenues. It has accomplished this by launching two other successful new immunology medicines, Skyrizi and Rinvoq, which are performing extremely well, bolstered by approvals in new indications, and should support top-line growth in the next few years.
Skyrizi and Rinvoq generated combined sales of $11.6 billion in the first half of 2025. Skyrizi sales are now annualizing at almost $18 billion and Rinvoq at over $8 billion. AbbVie expects combined sales of Skyrizi and Rinvoq to be more than $25 billion in 2025 and more than $31 billion by 2027. AbbVie recently settled patent litigation with all generic manufacturers for Rinvoq, which extended the drug’s patent exclusivity by four years to 2037.
AbbVie’s oncology and neuroscience drugs are also contributing to top-line growth. AbbVie’s oncology segment generated combined revenues of $3.3 billion in the first half of 2025, up 4.2% year over year, as higher sales of Venclexta and contributions from new drugs, Elahere and Epkinly, more than offset declining Imbruvica sales due to competitive pressure. Sales of its neuroscience drugs increased 20.3% to almost $5 billion in the first half of 2025, driven by higher sales of Botox Therapeutic, depression drug Vraylar and newer migraine drugs Ubrelvy and Qulipta.
AbbVie has been on an acquisition spree in the past couple of years to bolster its early-stage pipeline that should drive long-term growth. Particularly, it is signing several M&A deals in the immunology space, its core area, while also signing some early-stage deals in oncology and neuroscience areas. AbbVie has executed more than 30 M&A transactions since the beginning of 2024.
However, the company faces some near-term headwinds like Humira’s biosimilar erosion, increasing competitive pressure on cancer drug Imbruvica and a slow market growth trend for Juvederm fillers in the United States and China due to challenging market conditions and weakened consumer sentiment.
How Do Estimates Compare for LLY & ABBV?
The Zacks Consensus Estimate for LLY’s 2025 sales and EPS implies a year-over-year increase of 37.0% and 76.7%, respectively. EPS estimates for 2025 and 2026 have risen over the past 60 days.
LLY Estimate Movement
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AbbVie’s 2025 sales and EPS implies a year-over-year increase of 7.6% and 18.9%, respectively. The EPS estimate for 2025 has risen from $12.00 per share to $12.03 per share over the past 60 days, while that for 2026 has risen from $14.32 per share to $14.42 per share over the same timeframe.
ABBV Estimate Movement
Image Source: Zacks Investment Research
Price Performance and Valuation of LLY & ABBV
Year to date, while LLY’s stock has risen 9.5%, AbbVie’s stock has risen 30.1%. The industry has risen 7.8% in the said time frame.
Image Source: Zacks Investment Research
AbbVie looks more attractive than Lilly from a valuation standpoint. Going by the price/earnings ratio, Lilly’s shares currently trade at 29.03 forward earnings, significantly higher than 15.86 for the industry. However, LLY currently trades lower than its 5-year mean of 34.54. AbbVie’s shares currently trade at 16.65 forward earnings, lower than the industry. However, ABBV trades above the stock’s 5-year mean of 13.14.
Image Source: Zacks Investment Research
AbbVie’s dividend yield is 2.8%, while Lilly’s is around 0.7%.
Both have seen their stocks and estimates rise this year.
AbbVie has faced its biggest challenge — Humira’s patent cliff — quite well and looks well-positioned for continued strong growth in the years ahead. AbbVie is returning to robust revenue growth in 2025, which is just the second year following the U.S. Humira LOE, driven by its ex-Humira platform.
Boosted by its new product launches, AbbVie expects to return to mid-single-digit revenue growth in 2025 with a high single-digit CAGR through 2029, as the company has no significant LOE events for the rest of this decade. With no significant LOEs in this decade, AbbVie enjoys the flexibility to invest more in R&D to continue to acquire external innovation.
However, despite its expensive valuation, Lilly is a great stock to have in one’s portfolio, considering its product and pipeline portfolio in high-growth therapeutic areas like obesity, robust growth prospects and bullish analyst sentiment. In 2025, Lilly expects to record revenues in the range of $60.0 billion to $62.0 billion, indicating an impressive year-over-year growth of more than 30%.
Lilly’s tremendous success with Mounjaro and Zepbound has made it the largest drugmaker with a market cap of around $800 billion, and its stock price is nearing $850 per share.
Overall, we believe Lilly is a better pick for growth-oriented investors with more upside expectations than AbbVie.
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AbbVie vs. Eli Lilly: Which Large Drugmaker Has the Edge in 2025?
Key Takeaways
Eli Lilly (LLY - Free Report) and AbbVie (ABBV - Free Report) are large, well-established U.S. pharmaceutical companies, boasting several blockbuster drugs, robust R&D pipelines, strong market capitalization and global footprint. Both companies have a strong presence in immunology, oncology and neuroscience areas. Other than that, AbbVie also has products for aesthetics and eye care, while Lilly boasts a leading presence in cardiometabolic health.
While AbbVie has seen tremendous success with its immunology drugs, Lilly’s GLP-1 drugs, Mounjaro and Zepbound, under its cardiometabolic health business, are the key to its success story.
Both stocks are generating strong revenues and profits, and look well-positioned for further growth. But which one is a better investment option today? Let’s take a closer look at their fundamentals, growth prospects and challenges to make an informed choice.
The Case for Lilly
Lilly has seen tremendous success with its popular tirzepatide medicines, diabetes drug Mounjaro and weight loss medicine, Zepbound.
Despite being on the market for a little more than three years, Mounjaro and Zepbound have become key top-line drivers for Lilly, with demand rising rapidly. Mounjaro and Zepbound account for around 50% of the company’s total revenues.
Launches of these drugs in new international markets and improved supply from ramped-up production in the United States led to strong sales in the first half of 2025. The positive trend is expected to continue in the second half. Approvals for new indications can also drive sales of Mounjaro and Zepbound higher.
In addition to Mounjaro and Zepbound, Lilly has gained approvals for several other new drugs over the past couple of years, including Omvoh, Jaypirca, Ebglyss and Kisunla. Kisunla was approved in the EU and a new drug, Inluriyo (imlunestrant), was approved in the United States for treating ER+, HER2-, ESR1-mutated advanced or metastatic breast cancer last month.
Lilly expects its new drugs, Mounjaro, Zepbound, Omvoh, Jaypirca, Ebglyss and Kisunla, along with the expanded use of existing drugs, to drive sales growth in the second half of 2025.
Lilly is investing broadly in obesity and has several new molecules currently in clinical development with a range of oral and injectable medications with different mechanisms of action. These include two late-stage candidates, orforglipron, a once-daily oral GLP-1 small molecule, and retatrutide, a GGG tri-agonist and some mid-stage candidates. Lilly has announced mixed data from two studies on orforglipron in obesity and is now set to file global regulatory applications for this much-awaited oral once-daily pill by the end of this year.
LLY is also working to diversify beyond GLP-1 drugs by expanding into cardiovascular, oncology, and neuroscience areas. In 2025, it announced three M&A deals. It acquired Verve Therapeutics to add gene therapies for heart disease to its pipeline. Lilly has also entered into agreements to acquire Scorpion Therapeutics’ oncology drug and SiteOne Therapeutics’ non-opioid pain candidate.
Lilly has its share of problems. Prices of most of Lilly’s products are declining in the United States, including Mounjaro and Zepbound, primarily due to changes to estimates for rebates and discounts. Rising competition in the GLP-1 diabetes/obesity market is a key headwind.
The Case for AbbVie
AbbVie has successfully navigated the loss of exclusivity (LOE) of its blockbuster drug, Humira, which once generated more than 50% of its total revenues. It has accomplished this by launching two other successful new immunology medicines, Skyrizi and Rinvoq, which are performing extremely well, bolstered by approvals in new indications, and should support top-line growth in the next few years.
Skyrizi and Rinvoq generated combined sales of $11.6 billion in the first half of 2025. Skyrizi sales are now annualizing at almost $18 billion and Rinvoq at over $8 billion. AbbVie expects combined sales of Skyrizi and Rinvoq to be more than $25 billion in 2025 and more than $31 billion by 2027. AbbVie recently settled patent litigation with all generic manufacturers for Rinvoq, which extended the drug’s patent exclusivity by four years to 2037.
AbbVie’s oncology and neuroscience drugs are also contributing to top-line growth. AbbVie’s oncology segment generated combined revenues of $3.3 billion in the first half of 2025, up 4.2% year over year, as higher sales of Venclexta and contributions from new drugs, Elahere and Epkinly, more than offset declining Imbruvica sales due to competitive pressure. Sales of its neuroscience drugs increased 20.3% to almost $5 billion in the first half of 2025, driven by higher sales of Botox Therapeutic, depression drug Vraylar and newer migraine drugs Ubrelvy and Qulipta.
AbbVie has been on an acquisition spree in the past couple of years to bolster its early-stage pipeline that should drive long-term growth. Particularly, it is signing several M&A deals in the immunology space, its core area, while also signing some early-stage deals in oncology and neuroscience areas. AbbVie has executed more than 30 M&A transactions since the beginning of 2024.
However, the company faces some near-term headwinds like Humira’s biosimilar erosion, increasing competitive pressure on cancer drug Imbruvica and a slow market growth trend for Juvederm fillers in the United States and China due to challenging market conditions and weakened consumer sentiment.
How Do Estimates Compare for LLY & ABBV?
The Zacks Consensus Estimate for LLY’s 2025 sales and EPS implies a year-over-year increase of 37.0% and 76.7%, respectively. EPS estimates for 2025 and 2026 have risen over the past 60 days.
LLY Estimate Movement
The Zacks Consensus Estimate for AbbVie’s 2025 sales and EPS implies a year-over-year increase of 7.6% and 18.9%, respectively. The EPS estimate for 2025 has risen from $12.00 per share to $12.03 per share over the past 60 days, while that for 2026 has risen from $14.32 per share to $14.42 per share over the same timeframe.
ABBV Estimate Movement
Price Performance and Valuation of LLY & ABBV
Year to date, while LLY’s stock has risen 9.5%, AbbVie’s stock has risen 30.1%. The industry has risen 7.8% in the said time frame.
AbbVie looks more attractive than Lilly from a valuation standpoint. Going by the price/earnings ratio, Lilly’s shares currently trade at 29.03 forward earnings, significantly higher than 15.86 for the industry. However, LLY currently trades lower than its 5-year mean of 34.54. AbbVie’s shares currently trade at 16.65 forward earnings, lower than the industry. However, ABBV trades above the stock’s 5-year mean of 13.14.
AbbVie’s dividend yield is 2.8%, while Lilly’s is around 0.7%.
LLY or ABBV: Which is a Better Pick?
AbbVie and Lilly have a Zacks Rank #3 (Hold) each, which makes choosing one stock a difficult task. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Both have seen their stocks and estimates rise this year.
AbbVie has faced its biggest challenge — Humira’s patent cliff — quite well and looks well-positioned for continued strong growth in the years ahead. AbbVie is returning to robust revenue growth in 2025, which is just the second year following the U.S. Humira LOE, driven by its ex-Humira platform.
Boosted by its new product launches, AbbVie expects to return to mid-single-digit revenue growth in 2025 with a high single-digit CAGR through 2029, as the company has no significant LOE events for the rest of this decade. With no significant LOEs in this decade, AbbVie enjoys the flexibility to invest more in R&D to continue to acquire external innovation.
However, despite its expensive valuation, Lilly is a great stock to have in one’s portfolio, considering its product and pipeline portfolio in high-growth therapeutic areas like obesity, robust growth prospects and bullish analyst sentiment. In 2025, Lilly expects to record revenues in the range of $60.0 billion to $62.0 billion, indicating an impressive year-over-year growth of more than 30%.
Lilly’s tremendous success with Mounjaro and Zepbound has made it the largest drugmaker with a market cap of around $800 billion, and its stock price is nearing $850 per share.
Overall, we believe Lilly is a better pick for growth-oriented investors with more upside expectations than AbbVie.