Pro-AbbVie bias may be driving rheumatologist confidence in newcomer Rinvoq: analyst
AbbVie's Rinvoq is already beating out Pfizer's Xeljanz in some physicians' eyes. (AbbVIe)
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.
Among 100 rheumologists recently surveyed by Spherix Global Insights, half would prescribe 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.
"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."