Humira (adalimumab), AbbVie’s monoclonal antibody treatment, was first launched in 2002 for rheumatoid arthritis and since expanded to additional indications including psoriatic arthritis, Crohn’s disease, and other inflammatory and autoimmune diseases. Humira reached its peak year sales in 2022 of $21 billion before its loss of market exclusivity (LOE) in early 2023. This allowed the entry of biosimilars from competitors including Teva, Organon, and others, ultimately taking a huge amount of market share from Humira. At the 44th Annual J.P. Morgan Healthcare Conference, AbbVie highlighted its positive growth despite experiencing one of the LOE’s in pharma history at the conference in San Francisco, California, on 14 January 2026.
After over two years past its LOE for Humira, AbbVie absorbed $10 billion in erosion, as well as $2 billion in The Inflation Reduction Act (IRA) impact. Despite this, the company delivered approximately $7 billion in net sales growth between 2023 and 2025, as well as demonstrating an overall top-line growth of around 8%, with the growth platform expanding to nearly 19% in 2025. Furthermore, AbbVie demonstrated a high single-digit revenue compound annual growth rate (CAGR) throughout the decade. R&D spending remained at approximately 15% of revenue, which equated to around $9 billion in 2025. Additionally, the company expects Earnings Per Share (EPS) growth to outpace revenue, as well as improved margin expansion driven by efficiency in selling, general, and administrative expenses efficiency relate to revenue, increasing profitability as the portfolio scales. This demonstrates that AbbVie continues to be a structurally profitable growth company within the international pharmaceutical landscape.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Immunology remains as the main driver of AbbVie’s growth, with Skyrizi (risankizumab) and Rinvoq (upadacitinib) forecast to generate over $41 billion in sales by 2031. Skyrizi is dominating the inflammatory bowel disease (IBD) market, while Rinvoq leads in both the IBD and atopic dermatitis markets, as its use is expanding into second and later-line settings across multiple inflammatory diseases. A second wave of Rinvoq indications, including giant cell arteritis, lupus, and vitiligo, is expected to provide AbbVie with positive momentum toward the end of the decade.
Beyond immunology, neuroscience is AbbVie’s second largest franchise and its fastest growing, with potential to become the largest neuroscience business in the industry. This growth is driven by a diversified portfolio, spanning multiple indications such as migraines, Parkinson’s disease, and neurodegeneration. AbbVie’s unique portfolio of three distinct therapies that cover the entire spectrum of migraine care include Ubrelvy (ubrogepant), Qulipta (atogepant), and Botox, and are collectively forecast to generate over $8.1 billion by 2031. In 2024, AbbVie launched Vyalev (foscarbidopa/foslevodopa), a continuous 24-hour subcutaneous infusion for the treatment of Parkinson’s disease and is expecting its oral therapy, tavapadon to launch later this year.
Overall, AbbVie’s growth can be attributed to its immunology and neuroscience portfolios, with the addition of its oncology pipeline, providing the company with a more diversified growth profile. Furthermore, AbbVie continues to strengthen its business development initiatives, investing $8 billion across 40 transactions since 2024. As the company focuses on modality expansion, pipeline depth, and long-term durability, AbbVie moves away from dependency on Humira to a multi-franchise growth company with several key drivers in the pharmaceutical industry.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
