We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Will Immunology Drugs Continue to Drive AbbVie's Top Line in 2026?
Read MoreHide Full Article
Key Takeaways
AbbVie's Skyrizi and Rinvoq delivered over 40% combined revenue growth in 2025.
ABBV forecasts 20% growth for the two drugs in 2026, targeting $31B in combined sales.
New indications and share gains in IBD and RA are set to fuel AbbVie's immunology momentum.
AbbVie (ABBV - Free Report) announced encouraging fourth-quarter and full-year 2025 results earlier this month that beat expectations. A major portion of the company’s top-line growth came from its newer immunology medicines, Rinvoq and Skyrizi, which not only mitigated the impact of continued erosion in legacy drug Humira but also reaffirmed their role as AbbVie’s key growth drivers.
Skyrizi and Rinvoq together generated combined revenues of about $26 billion, exceeding expectations and representing year-over-year growth of more than 40%. While Skyrizi sales rose 50% year over year on an operational basis to $17.56 billion, Rinvoq sales added $8.30 billion, up 39%. These gains were driven by strong volume growth and continued market share gains across all approved indications, particularly in the inflammatory bowel disease (IBD) space, which includes ulcerative colitis (UC) and Crohn’s disease (CD).
Across other indications, Skyrizi continues to gain share in key psoriasis markets, while Rinvoq commands a leading mid-teens in-play patient share in rheumatoid arthritis, covering all lines of therapy in the United States.
On the back of this robust commercial performance, AbbVie projects overall sales to increase at a high single-digit revenue CAGR through 2029. The company expects combined sales of Skyrizi and Rinvoq to grow by more than 20% year over year in 2026, with Skyrizi forecast to generate approximately $21.5 billion and Rinvoq around $10.1 billion. AbbVie expects these two drugs to generate more than $31 billion in sales in 2026 — about $0.5 billion above its long-term 2027 guidance of $31 billion.
Strong immunology market growth, market share gains and momentum from new indications, such as the recent launch of Skyrizi in UC, as well as the potential for five new indications for Rinvoq over the next few years, are expected to drive growth. Rinvoq could secure approval for two indications — vitiligo and alopecia areata in 2026. In addition, phase III data with Rinvoq in hidradenitis suppurativa and systemic lupus erythematosus are expected in 2026. AbbVie believes that the next wave of potential approvals in Rinvoq could add roughly $2 billion to peak-year sales for the product.
Despite generic erosion, AbbVie expects to record about $2.9 billion from Humira sales this year.
ABBV’s Competition in the Immunology Space
The targeted market is highly competitive. A key player in this field is Johnson & Johnson (JNJ - Free Report) , which markets two blockbuster drugs — Stelara and Tremfya. Both of these J&J medications are approved for multiple immunology indications, including UC and CD. Since Stelara lost U.S. patent exclusivity last year, J&J has shifted its focus to Tremfya to maintain its market position.
Another pharma giant expanding its presence in immunology is Eli Lilly (LLY - Free Report) , following the FDA approval of Omvoh for the UC indication in late 2023. Omvoh marked Eli Lilly’s first immunology drug approved in the United States for a type of IBD, playing a key role in expanding its portfolio in this therapeutic area. The LLY drug received FDA approval for the CD indication last year.
ABBV’s Price Performance, Valuation and Estimates
Shares of AbbVie have underperformed the industry year to date, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, AbbVie is trading at a discount to the industry. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 15.14 times forward earnings compared with the industry’s average of 18.74. However, the stock is trading above its five-year mean of 13.68.
Image Source: Zacks Investment Research
Estimate revisions for 2026 EPS have trended higher over the past 30 days, while those for 2027 have moved lower over the same period.
View the Zacks #1 Rank List
Image: Bigstock
Will Immunology Drugs Continue to Drive AbbVie's Top Line in 2026?
Key Takeaways
AbbVie (ABBV - Free Report) announced encouraging fourth-quarter and full-year 2025 results earlier this month that beat expectations. A major portion of the company’s top-line growth came from its newer immunology medicines, Rinvoq and Skyrizi, which not only mitigated the impact of continued erosion in legacy drug Humira but also reaffirmed their role as AbbVie’s key growth drivers.
Skyrizi and Rinvoq together generated combined revenues of about $26 billion, exceeding expectations and representing year-over-year growth of more than 40%. While Skyrizi sales rose 50% year over year on an operational basis to $17.56 billion, Rinvoq sales added $8.30 billion, up 39%. These gains were driven by strong volume growth and continued market share gains across all approved indications, particularly in the inflammatory bowel disease (IBD) space, which includes ulcerative colitis (UC) and Crohn’s disease (CD).
Across other indications, Skyrizi continues to gain share in key psoriasis markets, while Rinvoq commands a leading mid-teens in-play patient share in rheumatoid arthritis, covering all lines of therapy in the United States.
On the back of this robust commercial performance, AbbVie projects overall sales to increase at a high single-digit revenue CAGR through 2029. The company expects combined sales of Skyrizi and Rinvoq to grow by more than 20% year over year in 2026, with Skyrizi forecast to generate approximately $21.5 billion and Rinvoq around $10.1 billion. AbbVie expects these two drugs to generate more than $31 billion in sales in 2026 — about $0.5 billion above its long-term 2027 guidance of $31 billion.
Strong immunology market growth, market share gains and momentum from new indications, such as the recent launch of Skyrizi in UC, as well as the potential for five new indications for Rinvoq over the next few years, are expected to drive growth. Rinvoq could secure approval for two indications — vitiligo and alopecia areata in 2026. In addition, phase III data with Rinvoq in hidradenitis suppurativa and systemic lupus erythematosus are expected in 2026. AbbVie believes that the next wave of potential approvals in Rinvoq could add roughly $2 billion to peak-year sales for the product.
Despite generic erosion, AbbVie expects to record about $2.9 billion from Humira sales this year.
ABBV’s Competition in the Immunology Space
The targeted market is highly competitive. A key player in this field is Johnson & Johnson (JNJ - Free Report) , which markets two blockbuster drugs — Stelara and Tremfya. Both of these J&J medications are approved for multiple immunology indications, including UC and CD. Since Stelara lost U.S. patent exclusivity last year, J&J has shifted its focus to Tremfya to maintain its market position.
Another pharma giant expanding its presence in immunology is Eli Lilly (LLY - Free Report) , following the FDA approval of Omvoh for the UC indication in late 2023. Omvoh marked Eli Lilly’s first immunology drug approved in the United States for a type of IBD, playing a key role in expanding its portfolio in this therapeutic area. The LLY drug received FDA approval for the CD indication last year.
ABBV’s Price Performance, Valuation and Estimates
Shares of AbbVie have underperformed the industry year to date, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, AbbVie is trading at a discount to the industry. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 15.14 times forward earnings compared with the industry’s average of 18.74. However, the stock is trading above its five-year mean of 13.68.
Image Source: Zacks Investment Research
Estimate revisions for 2026 EPS have trended higher over the past 30 days, while those for 2027 have moved lower over the same period.
Image Source: Zacks Investment Research
AbbVie currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.