AbbVie Inc. is a global, diversified research-based biopharmaceutical company with leadership positions in immunology, oncology, aesthetics, neuroscience, and eye care. Its core business model involves researching, developing, manufacturing, and marketing advanced therapies for complex and serious diseases. Key revenue streams include immunology products like Humira, Skyrizi, and Rinvoq; oncology products like Imbruvica and Venclexta; aesthetics products like Botox Cosmetic and Juvederm; neuroscience products like Botox Therapeutic and Vraylar; and eye care products like Ozurdex and Lumigan. AbbVie competes with other research-based pharmaceutical and biotechnology companies. The company faces competition from biosimilars and generic products, especially for Humira, which lost exclusivity in the US in 2023.

• Employees: Approximately 50,000 (as of January 31, 2024)
• Geographic Footprint: Over 70 countries
• Headquarters: 1 North Waukegan Road, North Chicago, Illinois 60064-6400
• Founded: April 10, 2012 (Became independent January 1, 2013)
• Number of locations/facilities: Approximately 620
• Revenue: $54.3 billion (FY2023)
• Key Subsidiaries/Brands: AbbVie Products LLC, Allergan Aesthetics, Pharmacyclics

• CEO: Richard A. Gonzalez (to become Executive Chairman on July 1, 2024)
• President & COO (and incoming CEO): Robert A. Michael (to become CEO on July 1, 2024)
• CFO: Scott T. Reents
• Other Key Executives: Nicholas J. Donoghoe, M.D. (Chief Business and Strategy Officer); Timothy J. Richmond (Chief Human Resources Officer); Azita Saleki-Gerhardt, Ph.D. (Chief Operations Officer); Perry C. Siatis (General Counsel and Secretary); Jeffrey R. Stewart (Chief Commercial Officer); Kevin K. Buckbee (Controller); Thomas J. Hudson, M.D. (Chief Scientific Officer, Global Research); Roopal Thakkar, M.D. (Chief Medical Officer, Global Therapeutics)

• Annual Revenue: $54.3 billion (FY2023)
• Net Income: $4.9 billion (FY2023)
• Total Assets: $134.7 billion (FY2023)
• Key Financial Highlights: Net revenues decreased by 6% on a reported basis due to Humira biosimilar competition, partially offset by growth in other products.

AbbVie offers a diverse portfolio of products across multiple therapeutic areas:

• Immunology: Humira, Skyrizi, Rinvoq
• Oncology: Imbruvica, Venclexta, Epkinly
• Aesthetics: Botox Cosmetic, Juvederm Collection, CoolSculpting, SkinMedica
• Neuroscience: Botox Therapeutic, Vraylar, Duopa/Duodopa, Ubrelvy, Qulipta
• Eye Care: Ozurdex, Lumigan/Ganfort, Alphagan/Combigan, Restasis
• Other Key Products: Mavyret/Maviret (hepatitis C), Creon (pancreatic enzyme therapy), Synthroid (hypothyroidism), Lupron (hormone therapy), Linzess/Constella (IBS-C and chronic idiopathic constipation)

AbbVie operates as a single global business segment focused on the research, development, manufacturing, commercialization, and sale of its products.

AbbVie's current strategic priorities include maximizing the benefits of its diversified product portfolio, leveraging its commercial strength and international infrastructure, continuing to invest in and expand its pipeline, and returning value to shareholders through a strong and growing dividend and debt repayment.

• Growth strategies include increasing market share for Skyrizi and Rinvoq, expanding Skyrizi's indications, and integrating recent acquisitions.
• Focus areas for innovation include immunology, oncology, aesthetics, neuroscience, and eye care.

AbbVie operates in the highly competitive biopharmaceutical industry, competing with other research-based companies. Key market trends affecting the business include biosimilar competition, pricing pressures, and increasing regulatory scrutiny.

• Loss of exclusivity and biosimilar competition for key products, particularly Humira.
• Challenges in developing and commercializing new products.
• Cost-containment efforts and pricing pressures from governments and private organizations.
• Risks related to acquisitions and collaborations.
• Dependence on third-party manufacturers and suppliers.