Between AbbVie’s two newly approved blockbusters-in-waiting, psoriasis med Skyrizi’s booming sales have drawn some analysts’ eyes away from highly-touted rheumatoid arthritis drug Rinvoq. But among physicians, Rinvoq is becoming a darling, one analyst says––and an “AbbVie halo” could be major part of that.
Surveyed rheumatologists favor Rinvoq over other JAK inhibitors and are specifically citing AbbVie’s “stewardship” of the drug as a positive for prescribing, Piper analyst Christopher Raymond said in a note to investors Tuesday.
In practice, Raymond said those warm feelings about AbbVie’s med are translating into better uptake among rheumatologists––a below-the-radar win for AbbVie given the hype around Skryizi’s strong performance.
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“We are also struck by robust current uptake measures and share projections that we think portend meaningful upside to near-term Rinvoq estimates,” Raymond wrote. “In that Rinvoq largely takes a back seat to Skyrizi as a key growth driver in the minds of most investors we speak with, we see this feedback as a welcome source of upside in coming quarters.”
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