Billions of dollars in U.S. biosimilar erosion to AbbVie’s blockbuster immunology drug Humira is no match for its rising superstar Skyrizi. Despite the fall of what was once the world’s top-selling drug, one thing is certain: AbbVie’s immunology portfolio is still on top.
In the two years since Humira first faced biosimilar competition, AbbVie’s newer Skyrizi and Rinvoq have more than picked up the slack.
In 2025, the duo propelled the company to a record-breaking $61.1 billion in total sales, an 8.6% increase over 2024 that eclipsed the company’s previous peak revenue of $58 billion in 2022. The new landmark was reached despite nearly $16 billion of U.S. Humira erosion that has set in since then, CEO Robert Michael said on AbbVie’s fourth-quarter and full-year earnings conference call.
Together, Skyrizi, Rinvoq and Humira made up $30.4 billion of those sales, representing 14% year-over-year growth. Although Humira sales dissipated to $4.5 billion over the year, Skyrizi pulled far ahead to $17.5 billion, while Rinvoq is chugging along with $8.3 billion in yearly sales.
The trio helped the company surpass its initial 2025 guidance by more than $2 billion, Michael pointed out.
IBD competitive dynamics
One of the biggest growth drivers of sales for both Skyrizi and Rinvoq is the inflammatory bowel disease (IBD) market, an umbrella term that constitutes both Crohn’s disease and ulcerative colitis. Skyrizi specifically holds an in-play capture rate of 75% among IL-23 drugs in the frontline IBD setting, chief commercial officer Jeffrey Stewart said, touting a “strong and consistent” share performance even as the IL-23 drug class “grows rapidly.”
One such IL-23 that makes formidable competition for the immunology duo across the same indications is Johnson & Johnson’s Tremfya. The drug, which J&J positioned to take on sales from older Stelara à la AbbVie’s Humira strategy, rounded out its IBD uses with a Crohn’s disease nod early last year, solidifying its competitive label in the IBD market.
But despite the competitive entrant, Stewart maintained that Skyrizi’s dominance over new patient starts in the frontline setting suggests that Tremfaya is more so capturing second-line shares, he explained.
“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,” the executive said.
For its part, Tremfya locked down $5.2 billion in 2025 sales for J&J, reflecting a rapid 40% growth from 2024.
Brushing off the competition from other IBD contenders, Michael maintained that Skyrizi isn’t playing in a “zero-sum game” despite the crowded market. The CEO pointed to Skyrizi’s ongoing head-to-head ulcerative colitis trial with Takeda’s monoclonal antibody Entyvio as a “significant opportunity to continue the momentum” of the fast-growing drug, while Stewart noted that Skyrizi’s dosing convenience is “often favored” above other similar treatment options.
The company also put particular emphasis on Rinvoq in IBD as well, as Stewart highlighted that the med has demonstrated “some of the strongest response rates to date in IBD.” Together, the Skyrizi-Rinvoq duo make for “a great pair,” with Skyrizi tackling the frontline area and Rinvoq having “more opportunity than ever before” in second-line treatment, Stewart said.
In psoriasis, meanwhile, the company is confident that its portfolio has “clear leadership,” Stewart said, citing Skyrizi’s 45% of total prescription share within the U.S. biologic market for the disease in the fourth quarter.
Although Rinvoq’s sales are far behind Skyrizi’s, the drug could have a new market opportunity of its own in non-segmental vitiligo, a chronic, progressive autoimmune disease that causes unpredictable skin depigmentation. The company recently filed regulatory bids with the FDA and the European Medicines Agency (EMA), positioning Rinvoq as potentially the first systemic treatment for the disease, AbbVie said.
Elsewhere, the company made sure to highlight its Parkinson’s disease treatment, Vyalev, and its broader neuroscience portfolio. The therapy was approved in 2024 and collected sales of $482 million in 2025, but AbbVie is forecasting a “substantial sales ramp” that will result in blockbuster status this year.
Given Vyalev’s “outstanding launch,” Stewart said that the company's Parkinson's disease portfolio “remains underappreciated.” Michael concurred, citing a “profound opportunity to lead in neuroscience for the long term,” which is “clearly not reflected in Street models.”
The company expects total sales growth of 9.5% to $67 billion in 2026, chief financial officer Scott Reents said on the call, with Skyrizi and Rinvoq leading the charge along with Vyalev. Given the expected gains within the company’s “diverse portfolio,” AbbVie is charging high single-digit revenue growth through 2029, Michael added.
Skyrizi and Rinvoq, once expected to capture $31 billion in 2027, are now on track to pick up $34.5 billion in 2026, Reents said.
AbbVie is “disappointed” that its Botox franchise made the latest list of drugs that will face price cuts under the Inflation Reduction Act (IRA), given that the plasma-derived product “should have been excluded,” Michael said. However, the CEO noted that the selection does not impact the company’s long-term growth guidance.