AbbVie Reports Record Sales Amid Humira Erosion, Driven by Skyrizi and Rinvoq

AbbVie Inc. reported a record-breaking total revenue of $61.1 billion for the year 2025, marking an 8.6% increase from 2024. This growth was largely fueled by the company's immunology portfolio, which includes the newer drugs Skyrizi and Rinvoq, as well as the declining blockbuster Humira. Despite Humira's sales dropping to $4.5 billion due to biosimilar competition, Skyrizi and Rinvoq generated $17.5 billion and $8.3 billion, respectively, demonstrating AbbVie's successful transition away from reliance on Humira.

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Skyrizi has emerged as a significant player in the inflammatory bowel disease (IBD) market, capturing a 75% share among IL-23 drugs in frontline treatment settings. AbbVie’s Chief Commercial Officer, Jeffrey Stewart, emphasized Skyrizi's strong performance, stating that it continues to dominate new patient starts despite competition from Johnson & Johnson’s Tremfya, which reported $5.2 billion in sales for 2025. Rinvoq also showed promise, particularly in IBD, with strong response rates noted by Stewart.

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AbbVie executives expressed confidence in their immunology portfolio's performance. CEO Robert Michael highlighted the ongoing trials for Skyrizi and its potential to maintain momentum in the IBD market, while also noting the promising future for Rinvoq in treating non-segmental vitiligo. Michael stated, “We continue to expect low-single-digit pricing headwinds for both of those products... as we reaffirm our $31.6 billion 2026 sales target for Rinvoq and Skyrizi.”

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Despite the positive outlook, investor sentiment was tempered by concerns over Rinvoq's sales performance, which fell short of expectations at $2.37 billion against a forecast of $2.41 billion. Analysts, including William Blair's Matt Phipps, pointed out the growing competition in the immunology space, particularly from Tremfya, and expressed worries about the sustainability of AbbVie's growth as Humira's market share continues to decline.

AbbVie stock slides as investors focus on weakness in the aesthetics business

While AbbVie reported a significant increase in sales for Skyrizi and Rinvoq, there are discrepancies in how analysts perceive the sustainability of this growth. Some analysts view the recent sales figures as overly reliant on Humira's residual performance, raising questions about the long-term viability of AbbVie's revenue streams.

AbbVie stock drops after Rinvoq sales miss, even as 2026 profit forecast tops estimates

Looking ahead, AbbVie projects adjusted earnings per share for 2026 to be between $14.37 and $14.57, surpassing analysts' expectations. The company is also focusing on expanding Rinvoq's indications, including a recent filing for its use in treating non-segmental vitiligo. AbbVie aims to maintain its growth trajectory through continued innovation in its immunology and neuroscience portfolios.

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• “Our compete level is extremely high, and we're very, very comfortable with the momentum that we're going to continue to see with Skyrizi,” — Jeffrey Stewart, Chief Commercial Officer, AbbVie

AbbVie, hitting record sales on Skyrizi gains, holds its own in growing IBD arena despite J&J competition

• “We are very excited for our emerging portfolio in Parkinson’s disease, which we believe remains underappreciated,” — Robert Michael, CEO, AbbVie

AbbVie’s I&I Portfolio Sells $30 Billion but Execs Again Underline Other Areas

In summary, AbbVie's financial performance in 2025 showcases the company's ability to adapt and thrive despite the challenges posed by Humira's decline, with Skyrizi and Rinvoq leading the charge in the immunology sector. However, investor concerns regarding competition and the sustainability of growth remain critical factors to monitor as the company moves forward.

AbbVie stock drops after Rinvoq sales miss, even as 2026 profit forecast tops estimates