AstraZeneca (AZN Quick QuoteAZN - Free Report) and AbbVie (ABBV Quick QuoteABBV - Free Report) are leading U.S. drugmakers with strong positions in high-growth therapeutic areas like immunology and oncology.

For AstraZeneca, oncology represents about 44% of revenues. Beyond oncology, AstraZeneca has strength in immunology, rare diseases, vaccines, and cardiovascular/respiratory.

AbbVie, meanwhile, has established strength in immunology, oncology and neuroscience, along with a presence in aesthetics and eye care. Immunology generates about half of the company’s total revenues.

Both companies boast robust R&D pipelines that should drive innovation and long-term growth. However, which stock offers the more compelling opportunity at present? A closer look at their fundamentals, growth prospects and key risks can help determine the better pick.

The Case for AstraZeneca

AstraZeneca now has 16 blockbuster medicines, including Tagrisso, Fasenra, Farxiga, Imfinzi, Lynparza, Soliris and Ultomiris in its portfolio, with sales (product sales and alliance revenues) exceeding $1 billion. These drugs drove AstraZeneca’s 8% top-line growth and 5% core EPS at CER in the first quarter of 2026, backed by increasing demand trends.

Newer drugs like Wainua, Airsupra, Saphnelo, Datroway (partnered with Daiichi Sankyo) and Truqap also contributed to top-line growth, more than offsetting the loss of exclusivity of some mature brands like Brilinta, Pulmicort and Soliris.

In 2026, AZN expects continued revenue and earnings growth. It expects total revenues to grow by a mid-to-high single-digit percentage at CER in 2026, while core EPS is expected to increase by a low double-digit percentage at CER.

AstraZeneca has set itself some visible targets for the next few years.  It expects to generate $80 billion in total revenues by 2030. By the said time frame, AstraZeneca plans to launch 20 new medicines, with around half of these already launched/approved. It believes that many of these new medicines will have the potential to generate more than $5 billion in peak-year revenues. The company is also on track to achieve a mid-30s percentage core operating margin by 2026.

AstraZeneca’s pipeline is also strong, with pivotal data readouts lined up for 2026.

However, AstraZeneca faces looming loss-of-exclusivity (LOE) risks for several blockbuster drugs. Generic erosion is already hurting sales of Brilinta and Soliris in some markets. Sales of key drug Farxiga are expected to be pressured in 2026 due to the LOE in some countries like the United States, United Kingdom, Japan and China. Also, China, though an important market for AstraZeneca, remains a somewhat uncertain market due to pricing pressure from volume-based procurement (VBP) programs and ongoing legal and compliance investigations involving the company’s former China head, Leon Wang.

The Case for AbbVie Stock

AbbVie has successfully navigated the 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 $6.6 billion in the first quarter of 2025, reflecting strong demand for all approved indications. In 2026, AbbVie expects combined Skyrizi and Rinvoq sales of more than $31 billion. Combined, Skyrizi and Rinvoq are expected to deliver more than 20% growth in 2026.

AbbVie’s neuroscience portfolio is also contributing to top-line growth. Sales of its neuroscience drugs increased 24.3% to $2.88 billion in the first quarter of 2026, driven by higher sales of Botox Therapeutic, depression drug Vraylar, newer migraine drugs Ubrelvy and Qulipta and new Parkinson’s disease drug, Vyalev.

AbbVie has built a substantial oncology franchise with Imbruvica and Venclexta. However, its oncology sales have slightly slowed down. Its oncology sales declined 3% to $1.63 billion in the first quarter.

AbbVie has been on an acquisition spree over the past couple of years to bolster the early-stage pipeline that should drive long-term growth. 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. AbbVie also boasts a robust pipeline and expects important data readouts, regulatory submissions and approvals throughout 2026

The company faces some near-term headwinds like Humira’s biosimilar erosion, slowdown in oncology sales and soft sales of its Aesthetics unit for the past couple of years due to continued macro challenges and weakened consumer sentiment.

How Do Estimates Compare for AZN & ABBV?

The Zacks Consensus Estimate for AZN’s 2026 sales and EPS implies a year-over-year increase of 7.2% and 12.0%, respectively. EPS estimates for 2026 have declined from $10.34 to $10.26 over the past 30 days, while those for 2027 have declined from $11.62 to $11.55 over the same timeframe.

AZN Estimate Movement

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The Zacks Consensus Estimate for AbbVie’s 2026 sales and EPS implies a year-over-year increase of 9.9% and 42.9%, respectively. The Zacks Consensus Estimate for 2026 earnings has declined from $14.39 per share to $14.29, while that for 2027 has risen from $16.15 to $16.26 per share over the past 30 days.

ABBV Estimate Movement

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Price Performance and Valuation of AZN & ABBV

In the past year, while AZN stock has risen 34.4%, AbbVie stock has jumped 15.0%. The industry has returned 24.0% in the said time frame.

Image Source: Zacks Investment Research

AbbVie is more attractive than AstraZeneca from a valuation standpoint. Going by the price/earnings ratio, AbbVie’s shares currently trade at 14.04 forward earnings, lower than 17.0 for the industry. However, ABBV currently trades higher than its five-year mean of 13.84. AstraZeneca’s shares currently trade at 17.23 forward earnings, higher than the industry. AZN, however, trades below the stock’s five-year mean of 17.52.

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AbbVie’s dividend yield is 3.2%, while AstraZeneca’s is 2.4%.

AZN or ABBV: A Tough Choice?

AbbVie and AstraZeneca have a Zacks Rank #3 (Hold) each at present, which makes choosing one stock a difficult task. Picking one of them is probably the toughest choice to make among large drugmakers. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ABBV delivered robust net sales growth in 2025, which was just the second full year following the Humira LOE in the United States. AbbVie expects another year of robust growth in 2026. It expects high single-digit revenue growth through 2029, as the company has no significant LOE events for the rest of this decade.

AstraZeneca expects its robust top-line growth seen in 2025 to continue in 2026 despite the generic erosion of some drugs. Moreover, the company has clearer growth targets ($80 billion in revenues by 2030). The breadth of AstraZeneca’s business gives it better diversification and remains a competitive strength. Overall, for growth investors, AstraZeneca looks like the better investment over AbbVie. However, for value and income-oriented investors, ABBV wins over AZN.