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AbbVie Inc sells medicines to wholesalers and healthcare buyers. Physicians prescribe treatments; intermediaries generally buy them from AbbVie. Its portfolio covers autoimmune diseases, where the immune system attacks the body's own tissues, neurologic diseases, cancers and aesthetics. Sales must cover manufacturing, commercialization and research into future treatments. As older medicines lose protection against competing versions, their successors must sustain earnings and help finance the next generation. Replacing Humira is the current chapter of this recurring cycle.
In the first half of 2026 versus the same period in 2025, Skyrizi revenue rose 26% on a constant-currency basis while Humira revenue fell 38% on that basis. Management attributes Skyrizi and Rinvoq growth to market-share uptake and market growth, and Humira's decline to competing versions following loss of exclusivity.
The replacement portfolio is also becoming concentrated: Skyrizi and Rinvoq together accounted for approximately 42% of total net revenues in 2025. A setback to either could reduce both sales and the earnings available to fund future medicines.
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