AbbVie Inc.

AbbVie Inc. is an American multinational biopharmaceutical company that was formed as a spin-off from Abbott Laboratories in 2013. The company's headquarters are located in North Chicago, Illinois, and it is known for its research-driven approach in developing and marketing advanced therapies for some of the world's most complex and serious diseases. AbbVie operates in more than 75 countries, with its products marketed in over 170 countries.

History

AbbVie was officially listed on the New York Stock Exchange (NYSE) on January 2, 2013, following its separation from Abbott Laboratories. The split was designed to allow AbbVie to focus on its biopharmaceutical business, while Abbott would continue in diversified medical products. Since its inception, AbbVie has been involved in various research and development activities, leading to the introduction of several notable drugs.

Products

Among its product portfolio, AbbVie is perhaps best known for Humira (adalimumab), one of the world's best-selling prescription drugs used to treat several autoimmune diseases. Other significant products include Imbruvica (ibrutinib), used in cancer therapy, and Viekira Pak, for the treatment of hepatitis C. The company's focus areas include immunology, oncology, neuroscience, and virology, among others.

Research and Development

AbbVie invests heavily in research and development (R&D) to discover and develop innovative medicines. The company's R&D efforts are aimed at addressing significant unmet medical needs. AbbVie's research strategy includes both internal research and partnerships with academic institutions, biotechnology companies, and other pharmaceutical entities to accelerate the development of promising therapies.

Acquisitions

Over the years, AbbVie has pursued strategic acquisitions to bolster its product portfolio and pipeline. One of the most significant acquisitions was the purchase of Pharmacyclics Inc. in 2015, which added Imbruvica to its oncology portfolio. In 2020, AbbVie completed the acquisition of Allergan plc, a notable move that expanded its presence in the aesthetics and neuroscience areas.

Controversies

Like many pharmaceutical companies, AbbVie has faced its share of controversies, including criticism over the pricing and patent strategies of Humira. The company has been accused of employing tactics to delay the entry of cheaper biosimilar versions of Humira into the market, thereby maintaining high prices.

Corporate Social Responsibility

AbbVie is committed to making a positive impact on society through various corporate social responsibility (CSR) initiatives. These include patient assistance programs, donations to healthcare systems, and support for education and community programs. The company aims to address global health challenges and improve access to care and treatments.

See Also

• Pharmaceutical industry
• Biotechnology
• Drug development