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Which Pharma Stock Looks More Attractive: Sanofi or AbbVie?
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Key Takeaways
Sanofi raised its 2026 sales growth outlook to around 10%, driven by strong first-half performance.
AbbVie expects Skyrizi and Rinvoq sales to exceed $31 billion in 2026, offsetting Humira's erosion.
Sanofi trades at 7.82 times forward earnings with a 4.5% dividend yield, versus AbbVie's 19.62 and 2.5%.
AbbVie (ABBV - Free Report) and Sanofi (SNY - Free Report) are major pharmaceutical companies. AbbVie has a strong presence in immunology, oncology, neuroscience and aesthetics, with its key growth drivers including Skyrizi and Rinvoq, helping offset the loss of exclusivity (LOE) of its former blockbuster drug, Humira.
Sanofi, in contrast, has a strong presence in immunology, vaccines, rare diseases and specialty medicines, with Regeneron (REGN - Free Report) -partnered Dupixent serving as its largest growth driver.
AbbVie is headquartered in North Chicago, IL, while Sanofi is headquartered in Paris, France. Both companies have extensive R&D pipelines, offering opportunities to replenish their portfolios and expand into new indications. However, their growth drivers, financial profiles, valuations and risk factors differ. A closer look at their fundamentals, pipeline prospects, valuations and key challenges can help investors assess which stock currently offers the more attractive opportunity.
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, by launching two other successful new immunology medicines, Skyrizi and Rinvoq. Both these medicines are performing extremely well, bolstered by approvals in new indications, and should support top-line growth in the next few years. Strong immunology market growth, market share gains and momentum from new indications are expected to drive these drugs’ growth.
In 2026, AbbVie expects combined Skyrizi and Rinvoq sales of more than $31 billion, with the combined drugs generating $14.6 billion in sales in the first half. Combined, Skyrizi and Rinvoq are expected to deliver more than 20% growth in 2026.
However, AbbVie expects a low single-digit pricing headwind for both Skyrizi and Rinvoq in 2026 and over the next few years. Moreover, the launch of J&J’s (JNJ - Free Report) new oral pill for moderate-to-severe plaque psoriasis, Icotyde, has increased competitive pressure for Skyrizi, which can impact the product’s prescription trends. However, AbbVie seems confident that it can navigate competition from J&J’s Icotyde.
AbbVie is also benefiting from strong momentum outside immunology. The oncology franchise remains anchored by Venclexta and Elahere, while the neuroscience portfolio is 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 been on an acquisition spree over the past couple of years to bolster its early-stage pipeline, which 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. The latest acquisition of Apogee Therapeutics has added promising dermatology, respiratory and inflammatory disease assets that will strengthen its immunology pipeline and support long-term growth.
AbbVie boasts a robust pipeline and expects important data readouts, regulatory submissions and approvals over the next couple of years.
The company faces near-term headwinds, including Humira’s biosimilar erosion, a slowdown in oncology sales, and soft sales in its Aesthetics unit over the past couple of years due to continued macro challenges and economic headwinds.
The Case for Sanofi Stock
Sanofi and Regeneron’s Dupixent is approved in several countries in one or more indications, covering nine distinct diseases driven by type II inflammation. Dupixent generated €9.3 billion in sales in the first half of 2026, up 28.6% year over year. Dupixent’s strong sales growth is being driven by demand across all geographies, newly approved indications and demographics. Sanofi expects Dupixent to achieve around €25 billion in sales in 2030. However, Sanofi expects Dupixent’s volume growth to moderate in the second half of 2026 as recent launches annualize and year-over-year comparisons become more challenging.
Sanofi is also seeing strong uptake of its new medicines, including the novel recombinant factor VIII therapy Altuviiio and cancer drugs Ayvakit and Sarclisa. Sales of its new and acquired drugs rose 48.3% to €1.3 billion in the quarter, led by Altuviiio, Ayvakit and Sarclisa. Sanofi expects its new and acquired products to generate approximately €10 billion in sales by 2030.
Sanofi has increased R&D investments and is achieving significant progress with its pipeline. It has also been active on the business development and M&A front.
Along with the second-quarter results, Sanofi raised its sales growth expectations for the year based on a strong performance in the first half and an optimistic outlook for the second half. Sanofi now expects 2026 sales to grow around 10% at CER, up from its previous forecast for high-single-digit growth.
However, Sanofi’s vaccine business faces a weaker second half of 2026, mainly because of a tough comparison with unusually strong influenza vaccine sales in 2025. While newer products such as Beyfortus and Heplisav-B continue to perform well, Sanofi expects overall vaccine sales to decline slightly in 2026, with the weakness concentrated in the second half. In July, Sanofi also lowered its long-term vaccine sales expectations to around €9 billion by 2030 from €10 billion previously, due to currency headwinds and unfavorable market dynamics.
Sanofi faces other headwinds like heavy reliance on one blockbuster drug, Dupixent and regulatory and pricing pressure. Sanofi discontinued or deprioritized several pipeline programs recently. It discontinued the development of amlitelimab in atopic dermatitis in July 2026 and also discontinued the itepekimab and balinatunfib programs.
How Do Estimates Compare for SNY & ABBV?
The Zacks Consensus Estimate for SNY’s 2026 sales and EPS implies a year-over-year increase of 13.3% and 12.9%, respectively. EPS estimates for 2026 have risen from $4.98 per share to $5.00 per share over the past 60 days, while those for 2027 have declined from $5.21 per share to $5.19 per share over the same timeframe.
SNY Estimate Movement
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AbbVie’s 2026 sales and EPS implies a year-over-year increase of 10.6% and 39.8%, respectively. The Zacks Consensus Estimate for 2026 earnings has declined from $14.07 per share to $13.98, while that for 2027 has declined from $16.20 to $16.04 per share over the past 60 days.
ABBV Estimate Movement
Image Source: Zacks Investment Research
Price Performance and Valuation of SNY & ABBV
So far this year, while Sanofi’s stock has declined 19.3%, AbbVie stock has risen 20.0%. The industry has returned 13.0% in the said time frame.
Image Source: Zacks Investment Research
Sanofi is more attractive than AbbVie from a valuation standpoint. Going by the price/earnings ratio, AbbVie’s shares currently trade at 19.62 forward earnings, lower than 21.77 for the industry. However, ABBV currently trades higher than its five-year mean of 14.54. Sanofi’s shares currently trade at 7.82 forward earnings, much lower than the industry as well as the stock’s five-year mean of 11.45.
Image Source: Zacks Investment Research
AbbVie’s dividend yield is 2.5%, while Sanofi’s is 4.5%.
SNY or ABBV: The Better Pick?
Sanofi has a Zacks Rank #3 (Hold), while AbbVie has a Zacks Rank of 4 (Sell), which means Sanofi is a clear winner.
Both Sanofi and AbbVie have strong growth drivers, but Sanofi has an attractive combination of growth potential and valuation. Dupixent remains a powerful growth engine, while its newer and acquired medicines offer additional opportunities to expand revenue and reduce reliance on a single blockbuster over time. Sanofi is also investing in its pipeline to replenish its portfolio, although recent pipeline setbacks and vaccine weakness remain concerns.
AbbVie has successfully offset Humira’s erosion through Skyrizi and Rinvoq, and its immunology and neuroscience portfolios offer considerable growth potential. However, AbbVie’s earnings estimates have declined recently, and its shares trade at a considerably higher forward earnings multiple than Sanofi’s.
Sanofi’s discounted valuation, upgraded growth outlook and expanding portfolio of newer medicines make SNY a preferred pick for investors seeking long-term growth potential at a more attractive price.
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Which Pharma Stock Looks More Attractive: Sanofi or AbbVie?
Key Takeaways
AbbVie (ABBV - Free Report) and Sanofi (SNY - Free Report) are major pharmaceutical companies. AbbVie has a strong presence in immunology, oncology, neuroscience and aesthetics, with its key growth drivers including Skyrizi and Rinvoq, helping offset the loss of exclusivity (LOE) of its former blockbuster drug, Humira.
Sanofi, in contrast, has a strong presence in immunology, vaccines, rare diseases and specialty medicines, with Regeneron (REGN - Free Report) -partnered Dupixent serving as its largest growth driver.
AbbVie is headquartered in North Chicago, IL, while Sanofi is headquartered in Paris, France. Both companies have extensive R&D pipelines, offering opportunities to replenish their portfolios and expand into new indications. However, their growth drivers, financial profiles, valuations and risk factors differ. A closer look at their fundamentals, pipeline prospects, valuations and key challenges can help investors assess which stock currently offers the more attractive opportunity.
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, by launching two other successful new immunology medicines, Skyrizi and Rinvoq. Both these medicines are performing extremely well, bolstered by approvals in new indications, and should support top-line growth in the next few years. Strong immunology market growth, market share gains and momentum from new indications are expected to drive these drugs’ growth.
In 2026, AbbVie expects combined Skyrizi and Rinvoq sales of more than $31 billion, with the combined drugs generating $14.6 billion in sales in the first half. Combined, Skyrizi and Rinvoq are expected to deliver more than 20% growth in 2026.
However, AbbVie expects a low single-digit pricing headwind for both Skyrizi and Rinvoq in 2026 and over the next few years. Moreover, the launch of J&J’s (JNJ - Free Report) new oral pill for moderate-to-severe plaque psoriasis, Icotyde, has increased competitive pressure for Skyrizi, which can impact the product’s prescription trends. However, AbbVie seems confident that it can navigate competition from J&J’s Icotyde.
AbbVie is also benefiting from strong momentum outside immunology. The oncology franchise remains anchored by Venclexta and Elahere, while the neuroscience portfolio is 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 been on an acquisition spree over the past couple of years to bolster its early-stage pipeline, which 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. The latest acquisition of Apogee Therapeutics has added promising dermatology, respiratory and inflammatory disease assets that will strengthen its immunology pipeline and support long-term growth.
AbbVie boasts a robust pipeline and expects important data readouts, regulatory submissions and approvals over the next couple of years.
The company faces near-term headwinds, including Humira’s biosimilar erosion, a slowdown in oncology sales, and soft sales in its Aesthetics unit over the past couple of years due to continued macro challenges and economic headwinds.
The Case for Sanofi Stock
Sanofi and Regeneron’s Dupixent is approved in several countries in one or more indications, covering nine distinct diseases driven by type II inflammation. Dupixent generated €9.3 billion in sales in the first half of 2026, up 28.6% year over year. Dupixent’s strong sales growth is being driven by demand across all geographies, newly approved indications and demographics. Sanofi expects Dupixent to achieve around €25 billion in sales in 2030. However, Sanofi expects Dupixent’s volume growth to moderate in the second half of 2026 as recent launches annualize and year-over-year comparisons become more challenging.
Sanofi is also seeing strong uptake of its new medicines, including the novel recombinant factor VIII therapy Altuviiio and cancer drugs Ayvakit and Sarclisa. Sales of its new and acquired drugs rose 48.3% to €1.3 billion in the quarter, led by Altuviiio, Ayvakit and Sarclisa. Sanofi expects its new and acquired products to generate approximately €10 billion in sales by 2030.
Sanofi has increased R&D investments and is achieving significant progress with its pipeline. It has also been active on the business development and M&A front.
Along with the second-quarter results, Sanofi raised its sales growth expectations for the year based on a strong performance in the first half and an optimistic outlook for the second half. Sanofi now expects 2026 sales to grow around 10% at CER, up from its previous forecast for high-single-digit growth.
However, Sanofi’s vaccine business faces a weaker second half of 2026, mainly because of a tough comparison with unusually strong influenza vaccine sales in 2025. While newer products such as Beyfortus and Heplisav-B continue to perform well, Sanofi expects overall vaccine sales to decline slightly in 2026, with the weakness concentrated in the second half. In July, Sanofi also lowered its long-term vaccine sales expectations to around €9 billion by 2030 from €10 billion previously, due to currency headwinds and unfavorable market dynamics.
Sanofi faces other headwinds like heavy reliance on one blockbuster drug, Dupixent and regulatory and pricing pressure. Sanofi discontinued or deprioritized several pipeline programs recently. It discontinued the development of amlitelimab in atopic dermatitis in July 2026 and also discontinued the itepekimab and balinatunfib programs.
How Do Estimates Compare for SNY & ABBV?
The Zacks Consensus Estimate for SNY’s 2026 sales and EPS implies a year-over-year increase of 13.3% and 12.9%, respectively. EPS estimates for 2026 have risen from $4.98 per share to $5.00 per share over the past 60 days, while those for 2027 have declined from $5.21 per share to $5.19 per share over the same timeframe.
SNY Estimate Movement
The Zacks Consensus Estimate for AbbVie’s 2026 sales and EPS implies a year-over-year increase of 10.6% and 39.8%, respectively. The Zacks Consensus Estimate for 2026 earnings has declined from $14.07 per share to $13.98, while that for 2027 has declined from $16.20 to $16.04 per share over the past 60 days.
ABBV Estimate Movement
Price Performance and Valuation of SNY & ABBV
So far this year, while Sanofi’s stock has declined 19.3%, AbbVie stock has risen 20.0%. The industry has returned 13.0% in the said time frame.
Sanofi is more attractive than AbbVie from a valuation standpoint. Going by the price/earnings ratio, AbbVie’s shares currently trade at 19.62 forward earnings, lower than 21.77 for the industry. However, ABBV currently trades higher than its five-year mean of 14.54. Sanofi’s shares currently trade at 7.82 forward earnings, much lower than the industry as well as the stock’s five-year mean of 11.45.
AbbVie’s dividend yield is 2.5%, while Sanofi’s is 4.5%.
SNY or ABBV: The Better Pick?
Sanofi has a Zacks Rank #3 (Hold), while AbbVie has a Zacks Rank of 4 (Sell), which means Sanofi is a clear winner.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Both Sanofi and AbbVie have strong growth drivers, but Sanofi has an attractive combination of growth potential and valuation. Dupixent remains a powerful growth engine, while its newer and acquired medicines offer additional opportunities to expand revenue and reduce reliance on a single blockbuster over time. Sanofi is also investing in its pipeline to replenish its portfolio, although recent pipeline setbacks and vaccine weakness remain concerns.
AbbVie has successfully offset Humira’s erosion through Skyrizi and Rinvoq, and its immunology and neuroscience portfolios offer considerable growth potential. However, AbbVie’s earnings estimates have declined recently, and its shares trade at a considerably higher forward earnings multiple than Sanofi’s.
Sanofi’s discounted valuation, upgraded growth outlook and expanding portfolio of newer medicines make SNY a preferred pick for investors seeking long-term growth potential at a more attractive price.