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AbbVie Inc. is a global, diversified research-based biopharmaceutical company with leadership positions across several therapeutic areas, including immunology, oncology, aesthetics, neuroscience, and eye care . The company operates as a single global business segment dedicated to the research, development, manufacturing, commercialization, and sale of innovative medicines and therapies . AbbVie's product portfolio includes blockbuster products such as Humira, Skyrizi, Rinvoq, Imbruvica, Venclexta, Botox, Juvederm, Vraylar, Ubrelvy, and Qulipta, among others .
- Immunology - Develops and markets treatments for autoimmune diseases, with key products including Humira, Skyrizi, and Rinvoq.
- Oncology - Focuses on cancer treatment solutions, featuring products like Imbruvica and Venclexta.
- Neuroscience - Offers therapies for neurological disorders, with significant products such as Vraylar and Botox Therapeutic.
- Aesthetics - Provides cosmetic products and treatments, including Botox and Juvederm.
- Eye Care - Engages in the development and sale of treatments for various eye conditions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Robert A. Michael ExecutiveBoard | Chief Executive Officer | None | CEO since July 1, 2024; joined AbbVie in 2013; previously President and COO; key leader in AbbVie’s growth and strategy, including major acquisitions like Allergan. | View Report → |
Azita Saleki-Gerhardt Executive | Executive Vice President, Chief Operations Officer | Board Member at Entegris Inc. | Joined Abbott in 1993; transitioned to AbbVie in 2013; oversees global operations and ESG initiatives; instrumental in achieving carbon emissions targets. | |
David R. Purdue Executive | Senior Vice President, Controller (effective March 1, 2025) | None | Joined Abbott in 2003; transitioned to AbbVie; previously VP, Controller, Commercial Operations; succeeding Kevin K. Buckbee as Controller. | |
Jeffrey R. Stewart Executive | Executive Vice President, Chief Commercial Officer | None | Joined Abbott in 1992; transitioned to AbbVie in 2013; oversees global commercial operations and patient access programs. | |
Kevin K. Buckbee Executive | Senior Vice President, Controller | None | Joined Abbott in 1991; transitioned to AbbVie in 2013; retiring effective March 1, 2025; succeeded by David R. Purdue. | |
Nicholas J. Donoghoe Executive | Executive Vice President, Chief Business and Strategy Officer | None | Joined AbbVie in 2019; previously SVP, R&D Operations; former McKinsey Partner; key leader in portfolio innovation and Allergan integration. | |
Perry C. Siatis Executive | Executive Vice President, General Counsel, and Secretary | None | Joined Abbott in 2005; transitioned to AbbVie in 2013; oversees legal strategy, compliance, and intellectual property. | |
Roopal Thakkar Executive | Executive Vice President, Research & Development, and Chief Scientific Officer | None | Joined Abbott/AbbVie in 2003; leads global R&D organization with over 14,000 team members; oversees pipeline of 90+ drug/device programs. | |
Scott T. Reents Executive | Executive Vice President, Chief Financial Officer | None | CFO since June 2022; joined AbbVie in 2013; previously VP, Tax and Treasury; instrumental in financial strategy and compliance. | |
Timothy J. Richmond Executive | Executive Vice President, Chief Human Resources Officer | None | Joined AbbVie in 2013; oversees HR strategy, including talent acquisition and organizational development. | |
Brett J. Hart Board | Director | President of United Airlines Holdings, Inc. | Director since 2016; brings expertise in risk management, legal strategy, and corporate governance from his leadership roles at United Airlines. | |
Edward J. Rapp Board | Director | Director at Xos, Inc.; Member of University of Missouri College of Business Advisory Board | Director since 2013; former Group President and CFO at Caterpillar; expertise in global operations and sustainability. | |
Frederick H. Waddell Board | Director | Director at IBM | Director since 2013; former CEO of Northern Trust; expertise in financial services and governance. | |
Glenn F. Tilton Board | Director | Director at Phillips 66 | Director since 2013; former lead independent director (2013–2024); extensive experience in governance and finance from leadership roles at United Airlines and Texaco. | |
Jennifer L. Davis Board | Director | CEO, Health Care at Procter & Gamble | Appointed director in October 2023; brings expertise in marketing, corporate strategy, and healthcare operations from her career at P&G. | |
Melody B. Meyer Board | Director | President of Melody Meyer Energy, LLC; Board Member at bp p.l.c. | Director since 2017; extensive experience in operations, sustainability, and energy sector leadership. | |
Rebecca B. Roberts Board | Director | Director at Black Hills Corporation and MSA Safety Incorporated | Director since 2018; former President of Chevron Pipe Line Company; expertise in operations, safety, and regulatory matters. | |
Richard A. Gonzalez Board | Executive Chairman of the Board | None | Founding CEO of AbbVie (2013–2024); transitioned to Executive Chairman on July 1, 2024; led AbbVie’s market cap growth to over $300 billion. | |
Robert J. Alpern Board | Director | Ensign Professor at Yale School of Medicine; Director at Tricida, Inc. | Director since 2013; brings medical and scientific expertise; former Dean of Yale School of Medicine. | |
Roxanne S. Austin Board | Lead Independent Director | President of Melody Meyer Energy, LLC; Board Member at bp p.l.c. | Director since 2013; appointed Lead Independent Director on July 1, 2024; extensive experience in corporate governance and finance. | |
Susan E. Quaggin Board | Director | Chair of Medicine at Northwestern University; Director of Feinberg Cardiovascular and Renal Research Institute | Appointed director in October 2023; brings medical and scientific expertise; former President of the American Society of Nephrology. | |
Thomas C. Freyman Board | Director | None | Director since 2020; former EVP, Finance and Administration at Abbott; expertise in finance and risk oversight. | |
William H.L. Burnside Board | Director | None | Director since 2013; retired Senior VP at Boston Consulting Group; expertise in corporate finance and strategic advisory. |
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Given the ongoing economic challenges in China that have significantly impacted Juvederm's performance, particularly within the Aesthetics segment, what specific strategies does AbbVie have to navigate these headwinds and stimulate growth in this critical market?
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With the recent $100 million downward adjustment in VRAYLAR's full-year sales guidance due to channel mix pressures and negative pricing impact, can you elaborate on the factors leading to this shift and how you plan to mitigate similar issues moving forward?
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In the competitive immunology space, your head-to-head trial of SKYRIZI against ENTYVIO aims for potential superiority in endoscopic improvement for ulcerative colitis patients; what gives you confidence in achieving this outcome, and what are the implications if the trial does not meet its superiority endpoints?
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As SKYRIZI and RINVOQ continue to drive significant growth, what challenges do you foresee in maintaining their momentum across existing indications, and how do you plan to address potential competition from new market entrants and evolving treatment paradigms?
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With the integration of Cerevel Therapeutics and the upcoming pivotal study readouts for emraclidine in schizophrenia, how is AbbVie preparing to compete against existing therapies, especially considering recent approvals with safety considerations like hepatic monitoring, and what are your expectations regarding emraclidine's safety and efficacy profile?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
McKesson Corporation | Wholesale distributor | US Pharmaceuticals | Accounts for <39% of 2024 US gross revenues ; collectively with the other two wholesalers, they represent substantially all US pharma sales. |
Cardinal Health, Inc. | Wholesale distributor | US Pharmaceuticals | Accounts for <39% of 2024 US gross revenues ; collectively with the other two wholesalers, they represent substantially all US pharma sales. |
Cencora, Inc. | Wholesale distributor | US Pharmaceuticals | Accounts for <39% of 2024 US gross revenues ; collectively with the other two wholesalers, they represent substantially all US pharma sales. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Nimble Therapeutics | 2025 | AbbVie completed its acquisition of Nimble Therapeutics in January 2025 by paying $200 million upfront with potential milestone payments up to $130 million, aiming to enhance its immunology R&D pipeline with an investigational oral peptide IL23R inhibitor and a proprietary peptide synthesis platform. |
ImmunoGen, Inc. | 2024 | AbbVie acquired ImmunoGen, Inc. in February 2024 for approximately $9.8 billion in total value, strengthening its oncology portfolio with antibody-drug conjugate (ADC) technology including the first-in-class product ELAHERE for platinum-resistant ovarian cancer. |
Cerevel Therapeutics Holdings, Inc. | 2024 | Completed on August 1, 2024, the acquisition of Cerevel Therapeutics involved a cash payment of $45.00 per share, totaling about $8.7 billion, and strategically expanded AbbVie's neuroscience portfolio while integrating a licensing agreement with Pfizer that could trigger additional milestone payments up to $1.6 billion. |
Syndesi Therapeutics SA | 2022 | Acquired in February 2022 for an upfront payment of $130 million with contingent future payments up to $870 million, this deal provided AbbVie access to Syndesi's SV2A modulator portfolio, including the lead molecule SDI-118 in Phase 1b studies aimed at enhancing synaptic efficiency. |
DJS Antibodies Ltd | 2022 | In 2022, AbbVie acquired DJS Antibodies Ltd for approximately $255 million upfront plus up to $95 million in future milestone payments, obtaining the DJS-002 LPAR1 antagonist antibody program and the HEPTAD platform for novel antibody discovery targeting fibrotic diseases. |
Recent press releases and 8-K filings for ABBV.
- AbbVie reported robust first quarter performance with revenue ahead of guidance and revised full-year guidance to around $59.7B in total sales, positioning the company for sustained growth post-HUMIRA loss.
- The company emphasized a strong pipeline across immunology, neuroscience, oncology, and aesthetics, supported by key early-stage deals and acquisitions such as Nimble Therapeutics to bolster innovation and long-term growth.
- AbbVie is actively engaging with policymakers on drug pricing reforms and PBM transparency, aiming to address affordability while preserving innovation and market competitiveness.
- AbbVie and ADARx Pharmaceuticals announce a collaboration to develop next-generation siRNA therapies across neuroscience, immunology, and oncology, with an upfront payment of $335 million and potential milestone payments .
- Executives addressed new government policies on drug pricing, questioning whether measures like MFN and executive orders signal substantive changes or remain mostly rhetoric .
- They noted that pricing adjustments under MFN or IRA will primarily be managed within government channels without major impacts on the commercial book of business .
- The management highlighted active M&A activity aimed at filling pipeline gaps in neuro, immunology, and oncology ahead of future patent expiries .
- Updates in immunology were shared, including increased guidance for Skyrizi and Rinvoq, along with growing confidence in Rinvoq’s safety profile .
- FDA approval granted for RINVOQ® (upadacitinib) for the treatment of giant cell arteritis (GCA) in adults, providing a new therapeutic option.
- Approval was based on the pivotal Phase 3 SELECT-GCA trial, where 46.4% of patients achieved sustained remission, compared to 29.0% with placebo.
- This approval marks RINVOQ’s ninth approved indication, expanding its use across multiple immune-mediated conditions.
- AbbVie delivered a strong Q1 2025 performance with an adjusted EPS of $2.46 and net revenues of $13.343 billion—an 8.4% increase on a reported basis and 9.8% operationally .
- The company raised its full-year guidance to an adjusted EPS range of $12.09–$12.29, underscoring confidence in its future outlook .
- Robust demand in the immunology portfolio drove significant growth, with Skyrizi’s sales guidance raised to $16.5 billion and Rinvoq to $8.2 billion, complemented by strong contributions from oncology and neuroscience .
- GAAP diluted EPS for Q1 was $0.72, with the adjusted figure reflecting a $0.13 impact from acquired IPR&D and milestones expense .
- AbbVie is investing over $10 billion in U.S. manufacturing to support volume growth and expand into new therapeutic areas, including oncology, aesthetics, and obesity .
- AbbVie submitted a Biologics License Application (BLA) to the U.S. FDA for trenibotulinumtoxinE (TrenibotE) aimed at treating moderate to severe glabellar lines.
- TrenibotE is a novel neurotoxin serotype E distinguished by a rapid onset (as early as 8 hours) and a shorter duration of effect (2-3 weeks), offering a unique profile for aesthetic treatment.
- The application is supported by data from over 2,100 patients enrolled in multiple Phase 3 clinical studies, meeting all primary and secondary endpoints.
- European Commission approval granted for RINVOQ (upadacitinib) for treating giant cell arteritis in adult patients, marking it as the first and only oral JAK inhibitor approved in the EU, Iceland, Liechtenstein, and Norway.
- Phase 3 SELECT-GCA trial data showed a significant improvement in sustained remission (46.4% vs. 29.0% with placebo) and key secondary endpoints such as reduced disease flares and lower cumulative steroid exposure.
- This approval represents the eighth indication for RINVOQ in the EU, expanding treatment options for a vulnerable, predominantly older, patient population.
- Q1 2025 guidance now incorporates an acquired IPR&D and milestones expense of $248 million, which adversely impacts both GAAP and adjusted diluted EPS by $0.13 per share.
- The updated guidance reflects a Q1 2025 adjusted diluted EPS range of $2.34 - $2.38, and a full-year 2025 range of $11.99 - $12.19 after factoring in this expense.
- Final Phase 3 MIRASOL trial results in 453 FRα‐positive platinum-resistant ovarian cancer patients showed a 32% reduction in risk of death, with median overall survival of 16.85 months versus 13.34 months with chemotherapy.
- Improved efficacy was noted with a 37% reduction in risk of tumor progression or death, as median progression-free survival increased to 5.59 months compared to 3.98 months with standard therapy.
- The study also demonstrated a higher objective response rate (41.9% vs 15.9%) and a consistent safety profile with lower rates of high-grade adverse events relative to investigator’s choice chemotherapy.
- AbbVie emphasized its strong commercial execution and focus on key growth drivers, highlighting the performance of brands such as Skyrizi (driving roughly 50% YoY growth in TRx) and Rinvoq across multiple indications.
- The executives detailed an active pipeline strategy with significant upcoming catalysts in immunology, oncology, and a new obesity drug candidate from a partnership with Gubra, underlining their approach to both internal R&D and external innovation.
- The company also reaffirmed its commitment to reinvestment, planning to increase R&D spending to above 14% of sales and maintaining a disciplined leverage profile near 2x net debt to EBITDA while executing strategic BD deals.