How Will Skyrizi and Rinvoq Shape AbbVie's Q1 Immunology Sales?

AbbVie ABBV is set to report first-quarter 2026 results on April 29, with investor focus likely to remain on its immunology segment. Following the loss of exclusivity (LoE) for its flagship drug, Humira, the company has been leaning heavily on Skyrizi and Rinvoq to drive growth.

AbbVie successfully launched Skyrizi and Rinvoq across Humira's major indications, and a distinct new indication, atopic dermatitis. Both drugs have delivered strong performance across approved indications, especially in the popular inflammatory bowel disease (IBD) space, which includes ulcerative colitis (UC) and Crohn’s disease (CD).

Continued momentum from these therapies, supported by market share gains and recent label expansions — including Skyrizi in UC and Rinvoq in giant cell arteritis (GCA) — is expected to drive immunology sales in the quarter. The Zacks Consensus Estimate for Skyrizi and Rinvoq sales is pegged at $4.43 billion and $2.07 billion, respectively, for the to-be-reported quarter, representing growth from the year-ago period.

Meanwhile, Humira sales are expected to decline significantly, with the Zacks Consensus Estimate pegged at $723 million for the quarter.

Beyond immunology, AbbVie has been expanding its presence in other therapeutic areas, notably neuroscience and oncology. Growth in its neuroscience franchise has been supported by the increasing uptake of its oral migraine therapies, Ubrelvy and Qulipta. In oncology, the company has successfully broadened its portfolio beyond hematologic cancers into solid tumors, led by newer assets such as Elahere and Emrelis.

ABBV’s Competition in the Immunology Space

The immunology market is highly competitive. A key player in this field is Johnson & Johnson JNJ, which already markets two blockbuster drugs — Stelara and Tremfya. These medications are approved across multiple immunology indications, including UC and CD. Since Stelara lost U.S. patent exclusivity last year, J&J has shifted its focus to Tremfya. It recently secured approval for a new immunology drug, Icotyde, for the treatment of moderate-to-severe plaque psoriasis. While still in the early stages of launch, the drug could pose a competitive threat to Skyrizi.

Another pharma giant expanding its presence in immunology is Eli Lilly LLY, following the FDA approval of Omvoh for the UC indication in late 2023. Omvoh marked LLY’s first immunology drug approved for a type of IBD in the United States, playing a key role in expanding its immunology portfolio. The Eli Lilly 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 13.92 times forward earnings, lower than its industry’s average of 17.27.

Image Source: Zacks Investment Research

The bottom-line estimate per share for 2026 has declined from $14.54 to $14.53, while those for 2027 have fallen from $16.23 to $16.14 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.

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This article originally published on Zacks Investment Research (zacks.com).

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