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How Important Are Skyrizi and Rinvoq to AbbVie's Q1 Results?
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Key Takeaways
AbbVie's Q1 growth was driven by strong Skyrizi and Rinvoq sales that topped expectations.
ABBV raised 2026 sales guidance for Skyrizi and Rinvoq by $100M each after strong demand.
Rinvoq and Skyrizi gained market share in IBD, dermatology and rheumatology settings.
AbbVie’s (ABBV - Free Report) immunology franchise remained the company’s biggest growth driver in the first quarter of 2026, which beat expectations for both earnings and sales. The stronger-than-expected sales of Rinvoq and Skyrizi not only offset the continued erosion of legacy blockbuster Humira but also reinforced their importance as AbbVie’s key long-term growth drivers.
Skyrizi sales increased 29.2% year over year to $4.48 billion, while Rinvoq generated $2.12 billion, up 20.2%. These upticks were fueled by strong volume growth and continued market share gains across all approved indications, especially in the popular inflammatory bowel disease (IBD) space, which includes two conditions — ulcerative colitis (UC) and Crohn’s disease (CD).
During the first-quarter earnings call, management highlighted that Skyrizi continues to gain share in psoriatic disease and remains a leader in the frontline in-play patient share across both dermatology and rheumatology settings. The company also pointed to strong physician adoption in frontline inflammatory bowel disease (IBD) treatment settings, an important indicator of long-term market positioning.
Regarding Rinvoq, AbbVie stated that demand remained strong across rheumatology, gastroenterology and dermatology markets, while highlighting improving prescription trends in ulcerative colitis following expanded label access supporting earlier-line use in IBD patients.
Management’s confidence in the immunology franchise was reflected in updated 2026 guidance. AbbVie raised its sales expectations for both Skyrizi and Rinvoq by $100 million each. The company now expects Skyrizi revenues of approximately $21.6 billion and Rinvoq revenues of roughly $10.2 billion in 2026. Combined, Skyrizi and Rinvoq are expected to deliver more than 20% growth in 2026.
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 these drugs’ growth. Rinvoq could be approved for two indications — vitiligo and alopecia areata — in 2026/early 2027. In addition, phase III data on Rinvoq in hidradenitis suppurativa and systemic lupus erythematosus are expected later this year. AbbVie believes that the next wave of potential approvals for Rinvoq could add roughly $2 billion to the product’s peak-year sales.
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 for a type of IBD in the United States, playing a key role in expanding its portfolio in this therapeutic area. The Eli Lilly drug received FDA approval for the CD indication last year.
ABBV’s Price Performance, Valuation & Estimates
Shares of AbbVie have outperformed 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 14.02 times forward earnings, lower than its industry’s average of 16.99.
Image Source: Zacks Investment Research
Movements in EPS estimates for 2026 and 2027 have been mixed over the past 30 days.
View the Zacks #1 Rank List
Image: Shutterstock
How Important Are Skyrizi and Rinvoq to AbbVie's Q1 Results?
Key Takeaways
AbbVie’s (ABBV - Free Report) immunology franchise remained the company’s biggest growth driver in the first quarter of 2026, which beat expectations for both earnings and sales. The stronger-than-expected sales of Rinvoq and Skyrizi not only offset the continued erosion of legacy blockbuster Humira but also reinforced their importance as AbbVie’s key long-term growth drivers.
Skyrizi sales increased 29.2% year over year to $4.48 billion, while Rinvoq generated $2.12 billion, up 20.2%. These upticks were fueled by strong volume growth and continued market share gains across all approved indications, especially in the popular inflammatory bowel disease (IBD) space, which includes two conditions — ulcerative colitis (UC) and Crohn’s disease (CD).
During the first-quarter earnings call, management highlighted that Skyrizi continues to gain share in psoriatic disease and remains a leader in the frontline in-play patient share across both dermatology and rheumatology settings. The company also pointed to strong physician adoption in frontline inflammatory bowel disease (IBD) treatment settings, an important indicator of long-term market positioning.
Regarding Rinvoq, AbbVie stated that demand remained strong across rheumatology, gastroenterology and dermatology markets, while highlighting improving prescription trends in ulcerative colitis following expanded label access supporting earlier-line use in IBD patients.
Management’s confidence in the immunology franchise was reflected in updated 2026 guidance. AbbVie raised its sales expectations for both Skyrizi and Rinvoq by $100 million each. The company now expects Skyrizi revenues of approximately $21.6 billion and Rinvoq revenues of roughly $10.2 billion in 2026. Combined, Skyrizi and Rinvoq are expected to deliver more than 20% growth in 2026.
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 these drugs’ growth. Rinvoq could be approved for two indications — vitiligo and alopecia areata — in 2026/early 2027. In addition, phase III data on Rinvoq in hidradenitis suppurativa and systemic lupus erythematosus are expected later this year. AbbVie believes that the next wave of potential approvals for Rinvoq could add roughly $2 billion to the product’s peak-year sales.
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 for a type of IBD in the United States, playing a key role in expanding its portfolio in this therapeutic area. The Eli Lilly drug received FDA approval for the CD indication last year.
ABBV’s Price Performance, Valuation & Estimates
Shares of AbbVie have outperformed 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 14.02 times forward earnings, lower than its industry’s average of 16.99.
Image Source: Zacks Investment Research
Movements in EPS estimates for 2026 and 2027 have been mixed over the past 30 days.
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.