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.
AbbVie's immunology revenues rose 16.6% to $9.2 billion, accounting for nearly 53% of total sales.
Skyrizi and Rinvoq sales jumped 22.9% and 24.3%, respectively, offsetting Humira's 30.6% decline.
AbbVie raised 2026 sales forecasts for both drugs, targeting combined growth of more than 20%.
AbbVie (ABBV - Free Report) announced encouraging third-quarter 2026 results last month, which beat expectations for both earnings and sales. The company's immunology revenues increased 16.6% year over year on an operational basis to approximately $9.2 billion. The figure accounted for nearly 53% of total revenues.
Strong sales of its two blockbuster drugs, Rinvoq and Skyrizi, helped offset the continued erosion of legacy drug Humira and reinforced their importance as AbbVie's key long-term growth drivers.
Skyrizi sales jumped 22.9% year over year on an operational basis to $5.8 billion, while Rinvoq revenues increased 24.3% to $2.7 billion. Both drugs benefited from strong demand and market-share gains across their approved indications, particularly in inflammatory bowel disease (IBD), which includes ulcerative colitis (UC) and Crohn's disease (CD).
In contrast, Humira sales declined 30.6% year over year to $683 million due to continued biosimilar competition.
ABBV Raises ’26 Outlook for Skyrizi & Rinvoq
Strong momentum across its immunology franchise also supported AbbVie's improved 2026 outlook. The company raised its sales forecasts for both drugs. It now expects Skyrizi sales of $21.8 billion and Rinvoq sales of approximately $10.3 billion. Combined, the two drugs are expected to deliver more than 20% growth in 2026. Overall immunology revenues are forecast at approximately $34.9 billion.
New indications are expected to provide further growth opportunities. Skyrizi recently received FDA approval for a subcutaneous induction regimen for CD, offering patients a more convenient treatment option. Management expects payer access to expand over approximately 60 days, with the benefits likely to become more visible in early 2027.
Meanwhile, Rinvoq is expanding its presence in dermatology, with commercialization for vitiligo and alopecia areata underway in Europe. U.S. regulatory decisions for both indications are anticipated over the coming months. AbbVie expects the two indications to generate nearly $2 billion in combined peak sales.
ABBV’s Competition in the Immunology Space
The immunology market is highly competitive, with major pharmaceutical companies vying for market share across several indications. A key competitor is Johnson & Johnson (JNJ - Free Report) , which markets two major immunology drugs, Stelara and Tremfya. Both drugs are approved for multiple inflammatory conditions, including UC and CD. Following the entry of Stelara biosimilars in the United States in 2025, J&J is increasingly relying on Tremfya’s growth to offset declining Stelara sales and support its immunology franchise.
Eli Lilly (LLY - Free Report) is another competitor expanding its presence in immunology through Omvoh. The drug received FDA approval for UC in October 2023 and for CD in January 2025. These approvals established the LLY drug as a competitor in both major forms of IBD, where AbbVie’s Skyrizi has been gaining traction.
ABBV Stock Performance, Valuation & Estimates
Year to date, shares of AbbVie have risen 29% compared with the industry’s 26% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, AbbVie is trading at a slight discount to the industry. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 18.73 times forward earnings, lower than its industry’s average of 19.82 times.
Image Source: Zacks Investment Research
The bottom-line estimate per share for 2026 has remained consistent at $13.97, while the 2027 estimate has increased from $15.95 to $16.02 over the past 30 days.
View the Zacks #1 Rank List
Image: Bigstock
How Did AbbVie's Immunology Franchise Fare in Q3?
Key Takeaways
AbbVie (ABBV - Free Report) announced encouraging third-quarter 2026 results last month, which beat expectations for both earnings and sales. The company's immunology revenues increased 16.6% year over year on an operational basis to approximately $9.2 billion. The figure accounted for nearly 53% of total revenues.
Strong sales of its two blockbuster drugs, Rinvoq and Skyrizi, helped offset the continued erosion of legacy drug Humira and reinforced their importance as AbbVie's key long-term growth drivers.
Skyrizi sales jumped 22.9% year over year on an operational basis to $5.8 billion, while Rinvoq revenues increased 24.3% to $2.7 billion. Both drugs benefited from strong demand and market-share gains across their approved indications, particularly in inflammatory bowel disease (IBD), which includes ulcerative colitis (UC) and Crohn's disease (CD).
In contrast, Humira sales declined 30.6% year over year to $683 million due to continued biosimilar competition.
ABBV Raises ’26 Outlook for Skyrizi & Rinvoq
Strong momentum across its immunology franchise also supported AbbVie's improved 2026 outlook. The company raised its sales forecasts for both drugs. It now expects Skyrizi sales of $21.8 billion and Rinvoq sales of approximately $10.3 billion. Combined, the two drugs are expected to deliver more than 20% growth in 2026. Overall immunology revenues are forecast at approximately $34.9 billion.
New indications are expected to provide further growth opportunities. Skyrizi recently received FDA approval for a subcutaneous induction regimen for CD, offering patients a more convenient treatment option. Management expects payer access to expand over approximately 60 days, with the benefits likely to become more visible in early 2027.
Meanwhile, Rinvoq is expanding its presence in dermatology, with commercialization for vitiligo and alopecia areata underway in Europe. U.S. regulatory decisions for both indications are anticipated over the coming months. AbbVie expects the two indications to generate nearly $2 billion in combined peak sales.
ABBV’s Competition in the Immunology Space
The immunology market is highly competitive, with major pharmaceutical companies vying for market share across several indications. A key competitor is Johnson & Johnson (JNJ - Free Report) , which markets two major immunology drugs, Stelara and Tremfya. Both drugs are approved for multiple inflammatory conditions, including UC and CD. Following the entry of Stelara biosimilars in the United States in 2025, J&J is increasingly relying on Tremfya’s growth to offset declining Stelara sales and support its immunology franchise.
J&J is also expanding its immunology portfolio. Earlier in March, it secured approval for Icotyde, a once-daily oral drug for moderate-to-severe plaque psoriasis. While still in the early stages of launch, the drug poses a competitive threat to Skyrizi.
Eli Lilly (LLY - Free Report) is another competitor expanding its presence in immunology through Omvoh. The drug received FDA approval for UC in October 2023 and for CD in January 2025. These approvals established the LLY drug as a competitor in both major forms of IBD, where AbbVie’s Skyrizi has been gaining traction.
ABBV Stock Performance, Valuation & Estimates
Year to date, shares of AbbVie have risen 29% compared with the industry’s 26% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, AbbVie is trading at a slight discount to the industry. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 18.73 times forward earnings, lower than its industry’s average of 19.82 times.
Image Source: Zacks Investment Research
The bottom-line estimate per share for 2026 has remained consistent at $13.97, while the 2027 estimate has increased from $15.95 to $16.02 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.