BUZZ-Street View: AbbVie's Skyrizi and Rinvoq drugs remain key drivers for long-term growth

Reuters
02-03
BUZZ-Street View: AbbVie's Skyrizi and Rinvoq drugs remain key drivers for long-term growth

** AbbVie ABBV.N forecast 2025 profit above estimates on Friday, as strong sales of its newer immunology drugs Skyrizi and Rinvoq make up for a steep decline in those of Humira, its flagship rheumatoid arthritis drug, that is now facing stiff competition

** Median PT of 29 brokerages covering the stock is $205.50 - LSEG data

ROBUST PIPELINE TO FUEL GROWTH

** J.P.Morgan ("overweight") says "more broadly on the story, we see ABBV as well-positioned with no major LOEs (loss of exclusivity) until the mid 2030s, ongoing upside from Skyrizi/Rinvoq, and balance sheet capacity for additional BD to address growth in the 2030s"

** Morgan Stanley ("overweight", PT: $239) says the long-term outlook for its newer immunology drugs, Skyrizi and Rinvoq, continues to bolster confidence in ABBV's long-term growth profile

** Truist Securities ("buy", PT: $217) says "ABBV continues to deliver strong growth into the longer-term and sees no other LOE for the rest of the decade, we see a clear growth trajectory into 2029"

** Morningstar (fair value: $184) says ABBV's transition to more effective immunology products in the face of Humira sales erosion demonstrates its strong competitive advantage

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com))

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