AbbVie (NYSE:ABBV) stock rose 4.27% (As on April 30, 11:25:50 AM UTC-4, Source: Google Finance) after the company reported better-than-expected quarterly revenue and profit, ​fueled by demand for newer immunology drugs Skyrizi and Rinvoq, as ‌it continues to move beyond former top-selling treatment Humira. The drugmaker has been leaning heavily on Skyrizi and Rinvoq to fill the void left by Humira after the arthritis treatment lost U.S. patent ​exclusivity in 2023 and faced competition from cheaper biosimilars. Skyrizi recorded first-quarter sales of $4.48 billion, ​growing 30.9% from a year earlier and beating Wall Street ⁠estimates of $4.41 billion, according to LSEG data. Rinvoq sales rose 23.3% to $2.12 billion, also ​topping estimates of $2.04 billion. AbbVie said it continues “to be very ​open to acquiring external innovation”, with a major focus on immunology, neuroscience, ​oncology and obesity. In obesity, AbbVie flagged interest in oral assets as well as molecules that can help patients retain muscle while ensuring ​the majority of ​weight loss comes ⁠from fat. Earlier this year, AbbVie said it is seeking to expand its presence in the fast-growing market for obesity treatments. Global ​Humira sales fell 38.6% to $688 million in the quarter, slightly below analysts’ expectations.

Moreover, AbbVie announced it submitted an application to the U.S. Food and Drug Administration (FDA) seeking approval for Skyrizi (risankizumab) for subcutaneous (SC) induction in the treatment of adult patients with moderately to severely active Crohn’s disease (CD). AbbVie announced it submitted an application to the FDA for a new indication for Rinvoq (upadacitinib) in the treatment of adult and adolescent patients with severe alopecia areata (AA). The submission is supported by data from the Phase 3 UP-AA clinical program in which Rinvoq achieved the primary endpoint as well as key secondary endpoints.

ABBV in the first quarter of FY 26 has reported the adjusted earnings per share of $2.65, beating the analysts’ estimates for the adjusted earnings per share of $2.59. The company had reported the adjusted revenue growth of 12.4 percent to $15 billion in the first quarter of FY 26, beating the analysts’ estimates for revenue by $300 million. The adjusted gross margin ratio was 83.6 percent.

AbbVie also raised its full-year adjusted earnings forecast to ⁠a range ​of $14.08 to $14.28 per share from $13.96 to $14.16. The ​forecast includes a 41-cent-per-share hit from acquired in-process R&D and milestone expenses booked through the first ​quarter. AbbVie increased its revenue forecast to $67.3 billion. The company anticipates continued growth in its immunology and neuroscience portfolios, with significant contributions from SKYRIZI and RINVOQ.