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AbbVie's Post-Humira Bet Pays Off Big: Profits Rocket as Skyrizi and Rinvoq Carry the Load
The drugmaker's net revenue jumped more than 10% to $17.4 billion in the third quarter as its newer immunology drugs more than made up for Humira's continued collapse, and AbbVie raised its full-year profit outlook again.
Four years after Humira lost its patent shield, AbbVie just posted one of its strongest quarters yet — proof the company's multibillion-dollar bet on replacement drugs is working.
AbbVie reported third-quarter net revenue of $17.404 billion, up 10.3% from $15.776 billion a year earlier, according to the company's quarterly results filed with the SEC. GAAP net earnings came in at $4.218 billion, or $2.37 a share — a staggering jump from just $186 million, or $0.10 a share, in the same quarter last year. On an adjusted basis, which strips out one-time charges, diluted earnings per share rose to $3.82 from $1.86.
The headline number masks a dramatic shift inside AbbVie's own product lineup. Humira, once the best-selling drug in the world, brought in just $683 million this quarter, down 31.2% as biosimilar competition continues to erode its sales following its 2023 patent loss. But the drugs AbbVie built specifically to replace it are more than filling the gap: Skyrizi sales hit $5.776 billion, up 22.7%, and Rinvoq brought in $2.706 billion, up 23.9%. Combined, AbbVie's immunology portfolio generated $9.165 billion for the quarter, up 16.3% — more than 12 times what Humira alone now contributes.
Raising the bar again
AbbVie raised its full-year adjusted earnings guidance to a range of $13.95 to $13.99 per share, up from its prior forecast of $13.76 to $13.99. The company also announced a 5.2% increase to its quarterly dividend, to $1.82 per share, starting with the payment due in February.
"ABBVIE CONTINUES TO DELIVER OUTSTANDING RESULTS, REFLECTING SOLID EXECUTION ACROSS OUR DIVERSE PORTFOLIO" — CEO ROBERT A. MICHAEL
Through the first nine months of 2026, AbbVie's revenue totals $49.396 billion, up 10.9% year over year, with adjusted diluted earnings per share of $10.12 compared with $7.29 over the same stretch last year. The results land AbbVie among the stronger performers of this earnings season, at a moment when investors have been jittery about pharmaceutical pricing pressure and the broader market's appetite for big-cap healthcare names.
With Humira's decline now a known, modeled-in quantity rather than a surprise, the question for AbbVie going forward is less about replacing one blockbuster and more about how long Skyrizi and Rinvoq's growth curves can keep climbing before competitors in the crowded immunology space start cutting into them too.