AbbVie’s ABBV neuroscience franchise delivered solid results in the first quarter of 2026, supported by robust demand across its marketed products. The segment continued to be a key growth driver for the company as it worked to offset persistent Humira sales erosion.
In the first quarter, AbbVie reported neuroscience revenues of about $2.88 billion, up 26% year over year. The strong performance was driven by continued momentum for the depression drug Vraylar, migraine medicines Ubrelvy and Qulipta, Botox Therapeutic and Parkinson’s disease (PD) therapy Vyalev, all of which delivered strong growth in the quarter.
Vraylar generated first-quarter sales of $905 million, up 18.4%. During the earnings call, management stated that the drug benefited from strong prescription growth across its approved indications. AbbVie also noted that Vraylar’s new prescription share remains roughly double that of the next closest branded competitor.
AbbVie’s migraine portfolio also maintained strong momentum in the quarter. Ubrelvy sales rose 41% year over year to $339 million, while Qulipta generated revenues of $296 million, up 51%. Botox Therapeutic sales increased 16.5% to $1.01 billion. During the conference call, management highlighted that AbbVie’s migraine portfolio continues to gain market share in a growing market.
The company is seeing encouraging uptake for Parkinson’s disease therapy Vyalev. The drug generated first-quarter sales of $201 million, up about 10% sequentially. In the earnings call, management reiterated that Vyalev remains on track to achieve blockbuster revenues this year, reflecting continued post-launch momentum.
Looking ahead, the neuroscience franchise is positioned to play an even larger role in AbbVie’s growth strategy. Beyond continued growth from its marketed therapies, the company is preparing to broaden this portfolio with new offerings. AbbVie is awaiting an FDA decision on tavapadon, a once-daily oral therapy for PD, in the third quarter of 2026. If approved, the drug would expand AbbVie’s PD portfolio and strengthen the long-term growth prospects of its neuroscience franchise.
ABBV’s Competition in the Neuroscience Space
Other bigger players in the neuroscience space are Biogen BIIB and Johnson & Johnson JNJ.
Due to the steeply declining revenues of its multiple sclerosis franchise, Biogen is diversifying into novel neuroscience therapies. BIIB, along with partner Eisai, is one of the two companies that market an FDA-approved treatment for Alzheimer’s disease, Leqembi. Biogen also markets Zurzuvae, the first FDA-approved oral treatment for postpartum depression.
J&J’s neuroscience portfolio is led by the blockbuster antidepressant nasal spray Spravato and antipsychotic drug Invega Sustenna, both of which remain important growth drivers for the company. Last year, JNJ completed the acquisition of Intra-Cellular Therapies, which added antidepressant drug Caplyta to its neuroscience portfolio.
ABBV’s Price Performance, Valuation and Estimates
Shares of AbbVie have underperformed the industry year to date, as seen in the chart below.
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From a valuation standpoint, AbbVie is trading at a discount to the industry. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 13.98 times forward earnings, lower than its industry’s average of 16.75.
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EPS estimates for 2026 have declined over the past 30 days, while those for 2027 have increased during the same timeframe.
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AbbVie currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).