AbbVie Inc.

Overview

• Global, diversified, research-based biopharmaceutical company developing, manufacturing and selling therapies for serious diseases.
• Incorporated in Delaware; became an independent, publicly traded company on January 1, 2013 following separation from Abbott Laboratories.
• Operates as a single global business segment that handles discovery, development, manufacturing, commercialization and sales of medicines and therapies. R&D and supply chain are organized globally; commercial activities are organized by geographic region or therapeutic area.

Core products and therapeutic areas

Immunology

• Skyrizi (risankizumab): IL-23 inhibitor for autoimmune diseases. Indications in North America, EU and Japan include plaque psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis. Dosing varies by indication (quarterly after two induction doses for psoriasis/psoriatic arthritis; three IV induction doses for Crohn’s disease/UC, then every eight weeks by subcutaneous injection).
• Rinvoq (upadacitinib): oral JAK inhibitor for inflammatory diseases. Indications in North America, EU and Japan include rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, non-radiographic axial spondyloarthritis, ulcerative colitis, Crohn’s disease, giant cell arteritis and certain juvenile idiopathic arthritis indications.
• Humira (adalimumab): approved for multiple autoimmune indications across markets, including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn’s disease, plaque psoriasis, juvenile idiopathic arthritis, ulcerative colitis, non-infectious uveitis and hidradenitis suppurativa.

Neuroscience

• Vraylar (cariprazine): D3/D2 receptor partial agonist for schizophrenia and bipolar I disorder (manic/mixed episodes and adjunctive therapy for depressive episodes in MDD).
• Botox Therapeutic (onabotulinumtoxinA): injectable neuromuscular agent for indications including chronic migraine, overactive bladder, urinary incontinence due to detrusor overactivity and cervical dystonia in the US.
• Ubrelvy (ubrogepant): CGRP receptor antagonist for acute treatment of migraine in adults.
• Qulipta (atogepant): CGRP receptor antagonist for preventive treatment of episodic and chronic migraine (US and Canada; EU marketed as Aquipta).
• Vyalev (foscarbidopa and foslevodopa): 24-hour subcutaneous infusion for motor fluctuations in advanced Parkinson’s disease (US and other markets; sold as Produodopa in many regions).
• Duodopa (carbidopa and levodopa): intestinal gel for advanced Parkinson’s disease (Duopa brand in the US; Duodopa outside the US).

Oncology

• Imbruvica (ibrutinib): BTK inhibitor for certain adult blood cancers, including chronic lymphocytic leukemia, and for pediatric GVHD after other therapies.
• Venclexta/Venclyxto (venetoclax): BCL-2 inhibitor for CLL/SLL and approved in combination regimens for newly diagnosed AML in older or clinically appropriate patients.
• Elahere (mirvetuximab soravtansine-gynx): ADC for FRα-positive, platinum-resistant epithelial ovarian, fallopian tube or primary peritoneal cancer.
• Epkinly (epcoritamab): antibody-based therapy for certain DLBCL and high-grade B-cell lymphoma; also approved for relapsed/refractory follicular lymphoma.
• Emrelis (MET-directed ADC): treatment for certain non-squamous NSCLC with high MET expression.

Aesthetics

• Botox Cosmetic (onabotulinumtoxinA): injectable for cosmetic indications such as frown lines, crow’s feet, forehead lines and platysma bands.
• Juvederm Collection: hyaluronic acid dermal fillers for volume restoration and augmentation.
• Additional aesthetics portfolio: Alloderm, CoolSculpting, Natrelle breast implants, SkinMedica, Latisse, DiamondGlow and others.

Eye care

• Ozurdex (dexamethasone intravitreal implant): for visual impairment due to diabetic macular edema, macular edema after retinal vein occlusions and non-infectious posterior segment uveitis.
• Lumigan/Ganfort (bimatoprost solutions): intraocular pressure reduction for glaucoma or ocular hypertension (Lumigan in the US; Ganfort in the EU and other markets).
• Alphagan/Combigan (brimonidine/timolol): additional IOP-lowering therapy.
• Other eye care products: Refresh/Optive, Xen, Durysta, Restasis.

Other key products

• Mavyret (glecaprevir/pibrentasvir): HCV treatment (approved in the US and EU and for pediatric patients in certain regions).
• Creon (pancrelipase): US rights for pancreatic enzyme therapy for exocrine pancreatic insufficiency.
• Linzess/Constella (linaclotide): treatment for IBS-C and chronic idiopathic constipation.

Commercial model

• Global marketing, sales and distribution combine AbbVie-owned centers, regional teams and distributors; direct-to-consumer activities occur in the US while promotion outside the US often targets payers, health systems and physicians.
• In the US, three wholesale distributors (McKesson, Cardinal Health and Cencora) accounted for substantially all pharmaceutical product sales in 2025.
• Products are generally sold directly to wholesalers, distributors, government agencies, health care facilities and specialty pharmacies; some products are co-marketed or co-promoted.

Global footprint and operations

• Approximately 600 facilities worldwide (production, distribution and administration) with about 19.4 million square feet of floor space as of December 31, 2025.
• Major manufacturing sites in the United States include Abbott Park, IL; Branchburg, NJ; Cincinnati, OH; Dublin, CA; North Chicago, IL; and others. International sites include Campoverde di Aprilia, Italy; Cork and Sligo in Ireland; Ludwigshafen, Germany; Singapore; and others. Some sites are leased.
• R&D sites include U.S. development facilities in locations such as Abbott Park, Branchburg, Cambridge and Irvine, and major international development sites in Ludwigshafen (Germany) and Oxford (UK).
• The company maintains extensive supplier networks and storage/distribution capabilities to support global product flow.

People and culture

• Approximately 57,000 employees in over 70 countries as of December 31, 2025.
• Emphasis on diversity and inclusion, competitive compensation and benefits, leadership development programs and ongoing employee training, including adoption of AI-related skills.

Intellectual property and regulatory landscape

• Reliance on patents, trademarks and trade secrets to protect products. Many patents for key assets such as risankizumab (Skyrizi) and upadacitinib (Rinvoq) expire in the 2030s and beyond.
• U.S. composition-of-matter patents for Skyrizi and Rinvoq are expected to expire in 2033. In September 2025 AbbVie settled litigation with generic Rinvoq manufacturers; assuming pediatric exclusivity, no generic Rinvoq entry in the U.S. is expected before April 2037.
• Biological products may receive 12 years of regulatory exclusivity under the Biologics Price Competition and Innovation Act, with potential pediatric exclusivity extensions. The EU maintains separate biosimilar regulatory pathways.
• Pricing and reimbursement policies (including IRA-related government price-setting in the U.S.) and PBM practices influence revenues and access. AbbVie is subject to extensive regulatory regimes worldwide, including FDA, EMA, PMDA and device-related regulations.

Financial highlights and risks

• Skyrizi and Rinvoq together represented about 42% of total net revenues in 2025; each product individually accounted for greater than 10% of total net revenues.
• Carrying values as of December 31, 2025 included developed product rights and other intangible assets of $52.6 billion and goodwill of $35.6 billion.
• Three U.S. wholesale distributors (McKesson Corporation, Cardinal Health and Cencora, Inc.) accounted for substantially all pharmaceutical product sales in the U.S. in 2025; the company noted no single customer whose loss would materially affect the business.
• Other matters disclosed in the 2025 Form 10-K include debt and potential capital financing needs, dependence on third-party suppliers and service providers, exposure to cyber risks, and substantial intangible assets that are subject to impairment risk.

Strategic positioning

• Broad portfolio across immunology, neuroscience, oncology and aesthetics, with major products contributing a large share of revenue.
• Ongoing investment in R&D, in-licensing, acquisitions and collaborations to refresh and grow the pipeline.
• Competitive pressures include biosimilars and generic entrants as patents expire, and pricing/reimbursement dynamics across global markets, including U.S. pricing reforms and international price controls.