AbbVie has held high hopes for newcomers Skyrizi and Rinvoq as post-Allergan merger business drivers with the ongoing decline of Humira. But with prescription figures and market access tracking way ahead of expectations, did AbbVie know those two meds would be doing this well this fast?
Psoriasis med Skyrizi and rheumatoid arthritis therapy Rinvoq could hit $11 billion in peak sales with scripts on the way up and market access growing, according to UBS analyst Navin Jacob. That peak would beat out even AbbVie’s projection of $10 billion and potentially offer an opportunity for investors now with share prices hanging around $85.
After just two years on the market, psoriasis med Skyrizi could reach more than $1 billion in global sales in 2021, Jacob said, driven by booming scripts and lucrative indications in its pipeline.
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So far, Skyrizi has outperformed both Novartis’ Cosentyx and Johnson & Johnson’s Tremfya in terms of launch numbers, Jacob said, and it’s suited to capitalize on a 90% probability of success in its pipeline indications, including psoriatic arthritis where Tremfya––another IL-23 inhibitor––recently scored a trial win.
Combined with the highly successful launch of Rinvoq, AbbVie could see sales of both drugs top $1 billion next year––significantly higher than consensus estimates of around $800 million.