AbbVie

42°20′12″N 87°50′04″W / 42.33679°N 87.83432°W / 42.33679; -87.83432 (Headquarters Site)

AbbVie Inc.
Company typePublic
IndustryBiopharmaceutical
FoundedApril 10, 2012 (2012-04-10)
Headquarters1 North Waukegan Road, North Chicago, Illinois, United States
Area served
170+ countries worldwide
Key people
Products
RevenueIncrease US$56.33 billion (2024)
Decrease US$9.137 billion (2024)
Decrease US$4.278 billion (2024)
Total assetsIncrease US$135.2 billion (2024)
Total equityDecrease US$3.325 billion (2024)
Number of employees
55,000 (2024)
Websiteabbvie.com
Footnotes / references
[1]

AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. Its major products are: Humira (adalimumab) ($9 billion in 2024 revenues, 16% of total revenues), approved to treat autoimmune diseases including rheumatoid arthritis, Crohn's disease, plaque psoriasis, and ulcerative colitis and administered via injection; Skyrizi (Risankizumab) ($11.7 billion in 2024 revenues, 21% of total revenues), an interleukin-23 (IL-23) inhibitor also used to treat autoimmune diseases; Rinvoq (Upadacitinib) ($6.0 billion in 2023 revenues, 11% of total revenues), used to treat arthritis; and Botox ($6.0 billion in 2024 revenues, 11% of total revenues). Its other major products include Imbruvica (Ibrutinib) to treat cancer ($3.3 billion in 2024 revenues), Vraylar (Cariprazine) to treat schizophrenia and bipolar disorder ($3.3 billion in 2024 revenues), Venclexta (Venetoclax) to treat leukemia and lymphoma ($2.6 billion in 2024 revenues), Mavyret (Glecaprevir/pibrentasvir) to treat Hepatitis C ($1.3 billion in 2024 revenues), and Epkinly (epcoritamab), a blood-cancer therapy developed in partnership with Genmab ($0.1 billion in 2024 revenues).[1] The company is also committed to product development for other treatments of cancer, neurologic diseases, eye care, and cystic fibrosis.[1]: 34 [2] The company's pipeline also includes drug candidates for Parkinson's disease including Vyalev (Foscarbidopa/foslevodopa) and tavapadon.[1]

The company is ranked sixth on the list of largest biomedical companies by revenue. It is ranked 77th on the Fortune 500[3] and 108th on the Forbes Global 2000.[4]

The costs and rapid price increases of Imbruvica have been controversial and it was one of the drugs targeted by the Inflation Reduction Act to have its prices negotiated. As a result, effective in 2026, the price of the drug will be reduced by 38%, to $9,319 per month.[5][6][7][8]

The name "AbbVie" is derived from a combination of "Abbott", the name of its former parent company, with "vie", intended as a reference to a Latin root meaning 'life'.[9]

  1. ^ a b c d "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 14, 2025.
  2. ^ Carroll, John (October 25, 2019). "AbbVie doubles down on cystic fibrosis R&D, adding a new drug to the pipeline as Vertex seals its domination of the field with Trikafta OK". Endpoints News. University of Kansas.
  3. ^ "AbbVie". Fortune 500.
  4. ^ "AbbVie". Forbes.
  5. ^ Becze, Elisa (August 16, 2024). "Ibrutinib Costs Drop 38% Under Medicare Price Negotiations". Oncology Nursing Society.
  6. ^ "IRA Negotiated Drug Prices Released Free". American Association for Cancer Research. August 15, 2024.
  7. ^ "Pharmaceutical company AbbVie inflated prices for two major drugs, House Oversight report says". NBC News. May 18, 2021.
  8. ^ Walker, Joseph (1 January 2016). "Patients Struggle With High Drug Prices". The Wall Street Journal.
  9. ^ "Abbott Selects AbbVie as New Name for Future Research-Based Pharmaceutical Company" (Press release). Abbott Laboratories. March 21, 2012.

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