AbbVie is an American multinational research-based biopharmaceutical company, headquartered in North Chicago, Illinois.
The company develops and markets a range of advanced therapies that treat a number of diseases.
Its key products focus on treating chronic autoimmune diseases, including, psoriasis, rheumatoidarthritis and Crohn’s disease; low testosterone; HIV; endometriosis; thyroid disease; Parkinson’s disease; in addition to complications associated with chronic kidney disease and cystic fibrosis, among other health conditions.
AbbVie’s flagship product is HUMIRA – a biologic therapy administered as a subcutaneous injection – which is used to treat autoimmune diseases in the North America and the European Union.
Other products include: Synthroid (for the treatment of hypothyroidism), AndroGel (testosterone replacement therapy), Creon (for exocrine pancreatic insufficiency), Kaletra (a prescription anti HIV-1 medicine), Norvir (a protease inhibitor for the treatment of HIV-1 infection).
AbbVie became an independent company in 2013 as a result of the distribution by Abbott Laboratories (Abbott) of 100 percent of the outstanding common stock of AbbVie to Abbott’s shareholders.
The company is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘ABBV’.
Overview
- Chairman and CEO: Richard A. Gonzalez
- CFO: William J. Chase
- Industry: Pharmaceuticals
- Type: Public
- Listed on the New York Stock Exchange (NYSE)
- S&P 500 Component
- NYSE stock symbol: ABBV
- Net sales: $19.960 billion USD (2014)
- Net income: $1,774 million USD (2014)
- Diluted earnings per share: $1.10 (2014)
- Company head office: 1 North Waukegan Road North Chicago, IL 60064, USA
- Employees: 26,000 (2014)
- Website: http://www.abbvie.com/
AbbVie Financial Results, Years Ended December 31
| Operating data (in $ millions) | 2014 | 2013 |
| Net sales | $19,960 | $18,790 |
| Cost of products sold | $4,426 | $4,581 |
| Selling, general and administrative expenses | $7,724 | $5,352 |
| Research and development | $3,297 | $2,855 |
| Total operating costs and expenses | $16,549 | $13,126 |
| Operating earnings | $3,411 | $5,664 |
| Net earnings | $1,774 | $4,128 |
| Balance sheet data (in $ millions) | ||
| Total assets | $27,547 | $29,198 |
| Long-term debt and lease obligations | $10,565 | $14,292 |
| Total stockholders’ equity | $1,742 | $4,492 |
| Common share data (in $) | ||
| Basic earnings per share | $1.11 | $2.28 |
| Diluted earnings per share | $1.10 | $2.56 |
| Cash flow data (in $ millions) | ||
| Cash provided by operating activities | $3,549 | $6,345 |
| Cash (used in) provided by investing activities | $(926) | $879 |
| Cash (used in) provided by financing activities | $(3,293) | $(3,442) |
| Cash and cash equivalents at beginning of fiscal year | $9,595 | $5,901 |
| Cash and cash equivalents at end of fiscal year | $8,348 | $9,595 |
Source: “AbbVie Form 10-K 2014”