AbbVie announced that its biologic SKYRIZI (risankizumab) has been added to the provincial formularies for ulcerative colitis in Ontario and Alberta, Canada’s two most populous provinces. The inclusion expands coverage for patients in these markets and is expected to increase the drug’s market penetration and reimbursement opportunities.
The addition is a key regulatory milestone for AbbVie’s immunology portfolio. By securing formulary placement in Ontario and Alberta, the company gains access to a larger patient base, reinforcing its position in the inflammatory bowel disease (IBD) market and supporting future sales growth in Canada. SKYRIZI had already been listed on other provincial formularies—including Quebec, Nova Scotia, Prince Edward Island, and the Non‑Insured Health Benefits program—so the new listings represent a significant expansion of its Canadian footprint.
AbbVie’s broader strategy to secure reimbursement for SKYRIZI is evident from earlier developments. In November 2025, the company received a letter of intent from the pan‑Canadian Pharmaceutical Alliance and a recommendation from the Canadian Drug Agency for reimbursement with conditions. The May 2026 formulary additions follow these steps and demonstrate the company’s progress in achieving widespread coverage for its IBD indication.
Financially, AbbVie reported strong Q1 2026 results, with revenue of $15 billion—up 12.4% year‑over‑year—and an adjusted earnings per share of $2.65, surpassing analyst expectations. Operating margin rose to 31.6% from 30% a year earlier, reflecting effective cost control and pricing power. The company also raised its full‑year 2026 guidance for both revenue and earnings, signaling confidence in continued growth.
The formulary expansion is expected to translate into higher sales volumes for SKYRIZI in Canada, bolstering AbbVie’s immunology segment. With broader access, the company can capture a larger share of the ulcerative colitis market, reinforcing its competitive position and supporting the upward trajectory of its immunology portfolio. The regulatory approval, combined with the company’s strong financial performance, underscores AbbVie’s ability to execute on its growth strategy in the Canadian market.
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