Can ABBV's Neuroscience Drugs Drive Growth in the Second Half of 2026?

AbbVie’s ABBV neuroscience franchise continued to deliver strong growth in the first half of 2026, with sales reaching $6.1 billion, up 21.8% year over year on an operational basis. While the segment may not be the largest contributor to the company’s topline, it remains a key growth engine.

The growth was broad-based, with all three key areas, psychiatry, migraine and Parkinson’s disease (PD), contributing to the performance.

Vraylar remained the largest contributor, generating $1.98 billion in sales during the first half of 2026, up 18.6% year over year. Per AbbVie, the drug continued to benefit from share gains across its approved indications, namely bipolar disorder and adjunctive major depressive disorder.

AbbVie’s migraine portfolio also maintained strong momentum. Ubrelvy sales rose 26.4% year over year to $731 million, while Qulipta generated revenues of $646 million, up 39.2%. Botox Therapeutic sales increased 13.2% to $2.05 billion.

Meanwhile, Parkinson’s disease therapy Vyalev generated $457 million in sales, with second-quarter sales rising more than 27% sequentially. During the second-quarter earnings call, management reiterated that Vyalev remains on track to achieve blockbuster revenues this year, reflecting the drug’s accelerated uptake.

The strong performance has also prompted AbbVie to raise its full-year outlook for the franchise. The company now expects 2026 neuroscience revenues of approximately $12.7 billion, $100 million above its previous forecast. This includes Vraylar sales approaching $4.1 billion and Botox Therapeutic sales approaching $4.2 billion. Overall, AbbVie raised its 2026 revenue outlook by $300 million to approximately $67.6 billion.

ABBV Could Add Another Drug to the Franchise

Beyond the continued uptake of these marketed therapies, AbbVie is also preparing to add another potential growth driver to its neuroscience portfolio.

The company expects an FDA decision on tavapadon, a once-daily oral therapy for PD, in third-quarter 2026. If approved, the drug could launch later this year and expand AbbVie’s PD franchise alongside Vyalev and Duopa, potentially creating a Parkinson’s franchise with more than $5 billion in peak sales.

ABBV’s Competition in the Neuroscience Space

Other bigger players in the neuroscience space are Biogen BIIB and Johnson & Johnson JNJ.

As revenues from its legacy multiple sclerosis portfolio continue to decline, Biogen is increasingly focused on expanding its neuroscience business through newer therapies. Along with partner Eisai, Biogen markets Leqembi, one of the two FDA-approved treatments for Alzheimer's disease. The company also markets Zurzuvae, the first FDA-approved oral treatment for postpartum depression.

J&J's neuroscience business is anchored by the blockbuster depression therapy Spravato and long-acting antipsychotic Invega Sustenna. The company's acquisition of Intra-Cellular Therapies last year further strengthened its portfolio by adding Caplyta, an approved treatment for schizophrenia and bipolar depression.

ABBV’s Price Performance, Valuation and Estimates

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

Image Source: Zacks Investment Research

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 16.29 times forward earnings, lower than its industry’s average of 18.74.

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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.

Image Source: Zacks Investment Research

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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