The pharmaceutical industry is a great place to look for dividend stocks, and AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are among the best. Both drugmakers generally grow their dividends at a good clip, and both are part of the highly exclusive group of Dividend Kings, having raised their payouts for more than 50 years straight. But which of these pharmaceutical giants is the better dividend stock? Let's look into both companies and decide. 

AbbVie is going through a bit of a difficult period. In January, it started facing biosimilar competition in the U.S. for its blockbuster immunology medicine, Humira. The drugmaker expects its top line to decrease this year and the next as a result. But AbbVie's dividend is safe, and its prospects remain attractive. The company's lineup of medicines is vast, with several products that will help supplement Humira's sales drop gaining momentum.

One of them is the migraine treatment Qulipta. There is also cancer medicine Venclexta and AbbVie's Botox franchise. But AbbVie's most important growth drivers will be Skyrizi and Rinvoq, two immunology drugs taking over many of Humira's indications. For instance, Skyrizi proved more effective than Humira at clearing skin in plaque psoriasis patients. Skyrizi and Rinvoq are expected to surpass Humira's peak annual sales by 2027 and maintain their momentum thereafter.

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Source Fool.com