Will AbbVie's Neuroscience Segment Continue to Aid Top Line in 2026?

AbbVie ABBV reported encouraging fourth-quarter and full-year 2025 results last month. While the company’s immunology portfolio accounted for the bulk of revenue growth, its neuroscience franchise continued to provide diversification and steady growth. This segment — which started with Botox Therapeutic and the depression drug Vraylar — includes oral migraine drugs Ubrelvy and Qulipta, along with the newer Parkinson’s disease (PD) therapy Vyalev.

Sales of the neuroscience segment totaled $10.8 billion in 2025, accounting for roughly 18% of AbbVie’s total revenues. The metric rose nearly 20% year over year on a reported basis, primarily driven by higher sales of marketed products. The company reported double-digit sales growth across Botox Therapeutic, Vraylar, Qulipta and Ubrelvy. Additional momentum came from Vyalev, which generated sales worth $482 million in 2025, driven by strong uptake across all markets. Growth from this newer asset has helped offset declining sales of older therapies such as Duodopa.

For the full-year 2026, AbbVie expects neuroscience franchise revenues of $12.5 billion, suggesting 16% growth from 2025 levels. While Botox Therapeutic sales are expected to grow in the high single-digit range, the company projects double-digit growth from several other drugs in the portfolio. ABBV expects Vyalev to cross the $1 billion mark in global sales, which is encouraging for a drug that was launched last year in the United States.

Beyond the expected uptake of marketed therapies, AbbVie is preparing to expand this portfolio with new offerings. A regulatory filing is currently under FDA review seeking approval for a once-daily oral therapy for PD called tavapadon, backed by late-stage data showing symptomatic improvement across a broad patient group. If approved, tavapadon could launch later this year, broadening AbbVie’s PD footprint and strengthening the long-term contribution of its neuroscience segment.

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. The company, along with partner Eisai, markets Leqembi, one of the two FDA-approved treatments for Alzheimer’s disease. Biogen markets Zurzuvae, the first and only FDA-approved oral treatment for postpartum depression.

J&J markets several leading neuroscience products. These include the blockbuster antidepressant nasal spray Spravato and antipsychotic therapy Invega Sustenna. Both remain key growth drivers for its pharmaceutical unit. Last year, J&J expanded this portfolio through the acquisition of Intra-Cellular Therapies, adding the antidepressant drug Caplyta.

ABBV’s Price Performance, Valuation and Estimates

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

From a valuation standpoint, AbbVie is at a discount to the industry. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 15.61 times forward earnings, lower than its industry’s average of 18.26. However, the stock is trading above its five-year mean of 13.73.

Over the past 30 days, the Zacks Consensus Estimate for 2026 EPS has increased from $14.31 to $14.54, while that for 2027 has declined from $16.28 to $16.22.

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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