AbbVie Advances Immunology Pipeline with Skyrizi, Rinvoq, and Lutikizumab Data Expected in 2026

AbbVie reported positive Phase 3 AFFIRM data on March 2 for Skyrizi's subcutaneous induction in Crohn's disease, a self-injectable dosing format that removes the need for intravenous infusions, with clinical remission of 55% versus 30% for placebo at week 12. The company is advancing its immunology pipeline with a focus on lutikizumab and RINVOQ for hidradenitis suppurativa (HS) and novel treatments for inflammatory bowel disease (IBD).

Skyrizi and Rinvoq delivered combined 2025 revenues of approximately $25.9 billion, up more than $8 billion year-over-year, already surpassing AbbVie's own 2027 combined guidance by $500 million and capturing roughly 75% of new frontline IBD patient starts. The Chief Commercial Officer stated on the Q4 2025 earnings call that "Skyrizi and Rinvoq are a great pair in IBD…together, our two brands have already exceeded peak Humira sales by more than $4.5 billion and are on pace to deliver more than 20% growth in 2026."

AbbVie's $21.5 billion Skyrizi guide and $10.1 billion Rinvoq guide position the company for high single-digit revenue growth through 2029, with $18.5 billion in free cash flow expected this year alone. The company confirmed a Parkinson's franchise targeting more than $5 billion in peak sales.

On the pipeline front, AbbVie presented its strategic vision at the Piper Sandler Virtual Novel Targets in Immunology Symposium on February 13, 2026. Phase II data for lutikizumab in HS shows strong efficacy in both bio-experienced and naive patients, with potential for clinical differentiation due to its bispecific approach targeting IL-1 alpha and IL-1 beta. Phase II data in HS is expected by the end of the year.

The company is exploring combination therapies and novel mechanisms to enhance efficacy. SKYRIZI subcutaneous data is expected this year, along with readout for the alpha-4 beta-7 and lutikizumab combination. TL1A combinations with SKYRIZI are set to start later this year, with the combination aimed at breaking the efficacy ceiling. TREM1 proof of concept data is expected late this year or early next year.

AbbVie has established strategic collaborations including a deal for oral IL-23 inhibitors, aiming for higher potency and longer half-life compared to existing orals, and a deal for in situ lipid nanoparticle CAR-T. The company is also evaluating ADC (319) targeting CD19 in SLE and Sjögren's syndrome, with three mechanisms of action: steroid delivery, CD19 inhibition, and antibody-dependent cell killing.

AbbVie's normalized EPS collapsed from $13.77 in 2022 to $10 in 2025 as Humira biosimilars eroded revenue, but projections show a 45.4% single-year increase to $14.54 in 2026, powered by Skyrizi's $21.5 billion and Rinvoq's $10.1 billion forward revenue guides. Free cash flow is projected to jump 38% from $17.82 billion in 2025 to $24.59 billion in 2026, with FCF margins expanding from 29.1% to 36.7% in a single year.

Twenty-one analysts rate ABBV a buy or outperform against eight holds and just one underperform, with a mean price target of $248.86 implying 13.2% upside from $219.76. The spread between the $184 bear target and the $299 bull target reflects a binary view on IBD competition, with the low anchoring to TREMFYA share erosion accelerating, while the high prices in Skyrizi's subcutaneous label and lutikizumab's hidradenitis suppurativa Phase 3 data landing in 2026.

The company is committed to biomarker research to personalize treatments and improve outcomes, with potential expansion of TL1A development into fibrotic diseases like RA, PsA, HS, and systemic sclerosis. AbbVie's $67 billion revenue guide for 2026 reflects the company's structural solution to its biosimilar problem at $219.76 per share.