Here's How AbbVie's Neuroscience Portfolio Is Aiding Top-line Growth

AbbVie ABBV has built a substantial neuroscience franchise. While the segment was initially anchored by Botox Therapeutic and the depression drug Vraylar, its offerings now include the oral migraine drugs Ubrelvy and Qulipta, and the Parkinson’s disease (PD) therapy Vyalev (launched last year in the United States).

Sales of the neuroscience segment accounted for more than 17% of AbbVie’s total revenues in the first nine months of 2025. This upside was primarily driven by higher sales of Botox Therapeutic, Vraylar, Qulipta and Ubrelvy, all of which registered double-digit gains from prior-year levels. Some additional momentum came from Vyalev, which generated $299 million in sales during the first nine months of 2025, driven by strong uptake across all markets. Growth from this newer asset has helped offset declining sales of older therapies, such as Duodopa.

AbbVie expects to close 2025 with neuroscience sales worth $10.7 billion, suggesting 19% growth over the 2024 levels. Our model estimates for this metric stand at about $10.8 billion.

Looking ahead, the neuroscience franchise is positioned to play an even larger role in AbbVie’s growth strategy. Beyond the expected uptake of its marketed therapies, the company is preparing to broaden this portfolio with new offerings. ABBV recently submitted a regulatory filing to the FDA for tavapadon, a once-daily oral therapy for PD, backed by late-stage data showing symptomatic improvement across a broad patient group. If approved, tavapadon could launch later this year, thereby expanding AbbVie’s PD footprint and further strengthening the long-term contribution of its neuroscience segment.

AbbVie is also investing heavily in pipeline expansion to sustain long-term growth in neuroscience. More recently, it acquired Gilgamesh Pharmaceuticals’ lead psychedelic drug candidate, bretisilocin, which is being evaluated in a mid-stage study for major depressive disorder (MDD) — an area with significant commercial potential. Such additions underscore AbbVie’s intent to build a next-generation neuroscience portfolio focused on novel-mechanism therapies.

AbbVie’s Peers in the Neuroscience Space

Other large players in this segment 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 AD, Leqembi. Biogen also markets Zurzuvae, the first and only FDA-approved oral treatment for postpartum depression (PPD).

J&J markets several leading neuroscience products, led by the blockbuster antidepressant nasal spray Spravato and antipsychotic drug Invega Sustenna. Both remain key growth drivers for the company’s pharma unit. In April, J&J completed the acquisition of Intra-Cellular Therapies, which added the antidepressant drug Caplyta to its neuroscience portfolio. While already approved for schizophrenia and bipolar depression, this drug secured FDA approval last year for MDD.

ABBV’s Price Performance, Valuation and Estimates

Shares of AbbVie have outperformed the industry in the past year, as seen in the chart below.

From a valuation standpoint, AbbVie is at a premium to the industry. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 21.41 times forward earnings, higher than its industry’s average of 19.26. The stock is also trading above its five-year mean of 13.53.

Over the past 30 days, the Zacks Consensus Estimate for 2025 EPS has remained consistent at $10.64, while that for 2026 has increased from $14.40 to $14.42.

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).

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