This Pharma Giant Walked Off the Biggest Patent Cliff Ever - And Stuck the Landing

AbbVie (ABBV) off a cliff and stuck the landing.

Humira was 37% of AbbVie's revenue before patents expired and ten biosimilars swarmed in - the steepest drug patent cliff ever. Management promised replacements Skyrizi and Rinvoq would eventually top Humira's peak. Nobody believed them. 

The stock chopped $205-235 for six months, flushed to $190 in May, then ripped to $256 - beating the S&P and its own sector in 2026.

Chart setup: A brutal six-month base shook out weak hands. Daily EMAs (8/21/34) are stacked bullishly, weekly agrees. Bollinger Bands are squeezed inside Keltner Channels (red dots = coiled volatility), though momentum's cooling slightly from its early-July peak - that's a second squeeze, not a fresh breakout.