AbbVie sees the combined sales of Rinvoq, Skyrizi eclipse the top sales of Humira (NYSE:ABBV)
Although AbbVie’s blockbuster treatment Humira (adalimumab) will watch this year’s biosimilar contestThe company hopes that Rinvoq (upadacitinib) and Skyrizi (risankizumab) will eventually have a combined peak sales higher than during Humira’s peak.
Speaking at JP Morgan Healthcare Conference, CEO Rick Gonzalez said that by 2027, Rinvoq and Skyrizi will account for more than $27 billion in annual sales. By 2025, he expects the two drugs to bring in more than $17.5 billion (Rinvoq, $7.5 billion; Skyrizi, $10 billion).
Gonzalez also notes that the company has negotiated with people who pay for Humira so that 90% of patients will have access to the biologic brand in their formulary.
In the first half of this year, he does not see a significant impact on the price reductions for Humira as there will only be a similar biosimilar on the market. However, that will change in the second half as more competition becomes available.
Elsewhere in the company, Gonzalez says the beauty business is poised for significant growth because, in his view, the $14 billion market has yet to be deeply penetrated. He expects global cosmetics sales to be more than $9 billion by 2029.
Looking for collaborators Alpha Out of Ignorance says investors should consider adding AbbVie (NYSE:ABBV) stock on pullback.