The One Thing To Settle Before Buying AbbVie Stock

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AbbVie (ABBV) stock trades at 49.3 times its reported earnings over the past twelve months, compared with 22.9 for the S&P 500. On management’s 2026 forecast for adjusted earnings, which leave out one-time charges, the multiple is about 21. The question is whether its sales keep growing at a double-digit pace. They have so far in 2026, with revenue rising 10.3% in the third quarter from a year earlier. AbbVie has not yet said how fast it expects to grow in 2027, the year a U.S. government-set price starts on one of its larger drugs.

Vraylar Gets A Government-Set Price In 2027

That drug is Vraylar, which AbbVie sells in psychiatry and expects to bring in $4.2 billion in 2026. Management has said Vraylar’s price under the IRA drug-pricing rules begins in 2027. AbbVie already sells one drug at an IRA price: Imbruvica. Third-quarter sales of the cancer drug fell 26.1%, which management put down to IRA pricing and competition. A question on what to expect for 2027 came up on AbbVie’s October 30, 2026 call for the third quarter. Because AbbVie had not yet given a formal forecast, an analyst asked about the main pushes and pulls to keep in mind for 2027.

Most Of AbbVie’s Growth Comes From Skyrizi And Rinvoq

Management has said its two largest drugs, Skyrizi and Rinvoq, are adding $6 billion of sales between them in 2026. That accounts for close to the whole rise in revenue AbbVie expects, to about $67.8 billion in 2026 from $61.2 billion in 2025. Other drugs are growing too, but Humira sales fell 30.6% in the third quarter.

The two drugs are expected to bring in $32.1 billion together in 2026, representing close to half of AbbVie’s sales. This means AbbVie’s growth in 2027 depends mostly on how much more Skyrizi and Rinvoq can add, with Vraylar’s new price acting as a drag in the other direction.

What Has AbbVie Said About 2027?

Management has said it expects top-tier growth again in 2027 and will give its 2027 forecast on its fourth-quarter call, as it typically does. It also said many analysts’ models appear to include Vraylar’s IRA price already. Management expects sales of a newer AbbVie drug for Parkinson’s disease to build gradually, with Medicare coverage more broadly available starting in 2028.

These statements offer directions rather than figures. When the company reports its fourth quarter, expected in February 2027, the figure to watch is AbbVie’s 2027 revenue forecast and how much of it management expects from Skyrizi and Rinvoq.

Waiting on one forecast is one risk. For the bigger one, here’s how to invest for a crash and a rally.

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