AbbVie Posts Record $61.2B Revenue, Raises 2026 Outlook on Skyrizi and Rinvoq Growth
AbbVie posted record full-year 2025 revenue of $61.2B and raised its 2026 outlook after strong Q1 Skyrizi and Rinvoq sales. Phase 3 AFFIRM data and new FDA submissions highlight pipeline progress, while full-year revenue guidance was lifted to $67.3B.
AbbVie entered 2026 having replaced nearly every dollar of Humira revenue it lost to biosimilars, posting record full-year net revenues of $61.2B on 8.6% growth, while raising its full-year 2026 revenue and adjusted EPS guidance after a strong first quarter. The company now expects total revenues of $67.3 billion for 2026, up $300 million, and adjusted EPS of $14.08 to $14.28, increased by $0.12 from prior expectations.
In Q1 2026, AbbVie reported total net revenues of $15 billion, up 12.4% with a 2.1% favorable impact from foreign exchange, and adjusted EPS of $2.65, $0.07 above the guidance midpoint.
Skyrizi’s subcutaneous injection formulation achieved 55% clinical remission and 44% endoscopic response at week 12 versus 30% and 14% for placebo in Phase 3 AFFIRM results announced March 2, and the company is targeting a regulatory submission within months and U.S. approval as early as early 2027. The company also made a U.S. FDA submission for Rinvoq in alopecia areata, and Skyrizi subcutaneous induction in Crohn’s disease showed 61% endoscopic response and 73% clinical remission at week 12 in advanced patients. Early-stage obesity therapy ABBV-295 delivered nearly 10% mean weight loss after 12 weeks with a half-life of approximately 270 hours.
Immunology revenue was $7.3 billion in Q1, with Skyrizi sales of $4.5 billion, up 29.2% operationally, and Rinvoq sales of $2.1 billion, up 20.2% operationally. HUMIRA sales were $688 million, down 40.3% due to biosimilar competition. Skyrizi and Rinvoq together generated $25.9B in 2025, already tracking $0.5B above the company’s own 2027 combined guidance. Skyrizi alone captured 75% of frontline new patient starts in inflammatory bowel disease, and its IBD revenues doubled year-over-year to $6.4B in 2025. Neuroscience revenue was nearly $2.9 billion, up 24.3% operationally, with Vraylar sales of $905 million and VYALEV sales of $201 million. Oncology revenue was more than $1.6 billion, down 3% operationally, and aesthetics revenue was nearly $1.2 billion, up 5.1% operationally.
Full-year 2026 guidance now includes Skyrizi revenue of $21.6 billion, up $100 million, and Rinvoq of $10.2 billion, up $100 million. The company projects free cash flow of $18.5B, expects its Parkinson’s and migraine franchises each to exceed $5B at peak, and holds no major patent cliffs before 2030. It also announced a $1.4 billion pharmaceutical manufacturing campus in North Carolina and $380 million for two new North Chicago plants as part of a $100 billion U.S. investment commitment over the next decade.