AbbVie's key drug Rinvoq posted a 20.2% year-over-year global sales growth in the most recent quarter, a deceleration from the 28.6% operational growth rate in the prior quarter. While Skyrizi, the other pillar of AbbVie's post-Humira strategy, accelerated to 29.2% growth, the slowdown in Rinvoq's momentum warrants attention as it could signal intensifying competition in immunology. Rinvoq is on track for $10.2 billion in global sales this year, a vital part of AbbVie's expected $67.3 billion total revenue, and sustained deceleration could challenge the stock's valuation near its highs. The market is pricing in continued stellar growth, making the next quarter's Rinvoq performance critical to the investment thesis.
AbbVie IncRinvoq growth deceleration signals intensifying competition in immunology, challenging AbbVie's post-Humira strategy.
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