Type
|
Public |
---|---|
Traded as | NYSE: ABBV S&P 100 component S&P 500 component |
Industry | Biopharmaceutical |
Founded | 2013 (2013) |
Headquarters | Lake Bluff, Illinois, United States |
Area served
|
Worldwide (170+ Countries) |
Key people
|
Richard A. Gonzalez (Chairman & CEO) |
Revenue | $25.638 billion (2016) |
Operating income
|
$9.384 billion (2016) |
Net income
|
$5.953 billion (2016) |
Total assets | $66.099 billion (2016) |
Total equity | $4.636 billion (2016) |
Number of employees
|
30,000 (2016) |
Website | abbvie |
AbbVie is a pharmaceutical company that discovers, develops and markets both biopharmaceuticals and small molecule drugs. It originated in 2013 as a spin-off of Abbott Laboratories.
On October 19, 2011, Abbott Laboratories announced its plan to separate into two publicly traded companies. The "new" Abbott Laboratories would specialize in diversified products including medical devices, diagnostic equipment and nutrition products, while AbbVie would operate as a research-based pharmaceutical manufacturer. The separation was effective January 1, 2013, and AbbVie was officially listed on the New York Stock Exchange (ABBV) on January 2, 2013.
According to Miles White, CEO at the time, the purpose of the split was to allow markets to value the two businesses separately; White said that investors would "benefit from two fundamentally different investment opportunities with distinct strategic profiles and business priorities." Some investors were concerned that the split was done to protect the value of the device business from the loss of value facing the drug division due to the imminent expiration of patents on Humira, which accounted for about half of the drug division's revenue.
As of December 2015, the company employed in excess of 28,000 globally, and provided products to individuals in more than 170 countries.
In January 2014, the company acquired ImmuVen for an undisclosed sum. On September 3, 2014, AbbVie and Infinity Pharmaceuticals announced that they had entered into a global collaboration to develop and commercialize duvelisib, Infinity's PI3K inhibitor for the treatment of patients with cancer. On the same day, AbbVie and Calico announced that they had entered into a R&D collaboration intended to discover, develop and bring to market new therapies for patients with age-related diseases including neurodegeneration and cancer. Calico (California Life Company) is an Alphabet Inc. subsidiary led by Arthur D. Levinson (former Chairman and CEO of Genentech) and Hal V. Barron (former Executive Vice President and Chief Medical Officer of Genentech) that is focused on aging and age-related diseases.
In October 2014, after a long negotiation, Abbvie stopped its efforts to acquire Shire, which would have been one of the largest M&A deals of that year; Abbvie had to pay a $1.6 billion breakup fee.
On March 4, 2015, AbbVie announced its agreement to acquire the oncology firm Pharmacyclics and its treatment for blood cancers, ibrutinib; AstraZeneca had also been bidding to acquire Pharmacyclics. Under the terms of the transaction, AbbVie agreed to pay $261.25 per share as a mix of cash and AbbVie equity. The acquisition valued at approximately $21 billion was completed on May 26, 2015. The Pharmacyclics name was retained, and it operates as a subsidiary of AbbVie from its previous Sunnyvale, California, headquarters. On June 3, 2015, AbbVie and Halozyme Therapeutics announced that they had entered into a global collaboration and licensing agreement to develop and commercialize products that combine AbbVie’s treatments and Halozyme’s ENHANZE drug-delivery technology, this was terminated in November 2016.
According to the Wall Street Journal as of January 2016 ibrutinib, a specialty drug, cost US$116,600 to $155,400 a year wholesale in the United States. In spite of discounts and medical insurance, the prohibitive price causes some patients to not fill their prescriptions. AbbVie estimates global sales of the drug at $1 billion in 2016 and $5 billion in 2020.
On February 10, 2016, AbbVie and Cambridge, Massachusetts-based Synlogic announced a multi-year R&D collaboration. Synlogic is a synthetic biology company built on research from the labs of James Collins and Tim Lu at MIT. As part of the collaboration, AbbVie is getting worldwide rights to Synlogic’s probiotic-based technology for treating inflammatory bowel disease, and the research teams will focus on Crohn’s disease and ulcerative colitis. In April 2016, the company partnered with the University of Chicago to investigate a number of areas of oncology: breast, lung, prostate, colorectal and hematological cancers. In the same month the company announced it would co-commercialize Argenx's preclinical immunotherapy, ARGX-115. ARGX-115 is a first-in-class immunotherapy targeting GARP (glycoprotein A repetitions predominant), a membrane protein believed to enhance the immunosuppressive effects of T cells. The company also announced a deal to co-develop/commercialize at least one of CytomX Probody's conjugates against CD71 (transferrin receptor 1).
On 28 April 2016, the company announced it would acquire Stemcentrx for up to $9.8 billion. A day later, the company announced an expansion of a two and a half year old cystic fibrosis deal with Galapagos, potentially doubling milestone payments to $600 million.
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
ImmuVen
(Acq 2014)
Pharmacyclics
(Acq 2015)
Stemcentrx
(Acq 2016)
As of 2017 AbbVie shares are mainly held by institutional investors (Capital Group Companies, The Vanguard Group, BlackRock, State Street Corporation and others).
Period | Date | Adjusted Actuals EPS | GAAP EPS |
---|---|---|---|
Q3 2022 | 2022-10-27 | Future report Set alerts | |
Q2 2022 | 2022-07-29 | 3.37 | 3.37 |
Q1 2022 | 2022-04-29 | 3.16 | 3.16 |
Q4 2021 | 2022-02-02 | 3.31 | 3.31 |
Q3 2021 | 2021-10-29 | 3.33 | 3.33 |
Q2 2021 | 2021-07-30 | 3.11 | 3.11 |
Q1 2021 | 2021-04-30 | 2.95 | 2.95 |
Q4 2020 | 2021-02-03 | 2.92 | 2.92 |
Q3 2020 | 2020-10-30 | 0.00 | 0.00 |
Q2 2020 | 2020-07-31 | 2.34 | -0.46 |
2016-07-10 | Reiterated Rating | Credit Suisse Group AG | Buy | |
2016-06-29 | Reiterated Rating | Credit Suisse | Outperform | $67.00 |
2016-06-29 | Reiterated Rating | Credit Suisse Group AG | Outperform | $67.00 |
2016-06-10 | Downgrade | BMO Capital Markets | Outperform to Market Perform | $70.00 to $66.00 |
2016-06-08 | Downgrade | Morgan Stanley | Overweight to Equal Weight | $73.00 to $65.00 |
2016-06-07 | Reiterated Rating | Deutsche Bank | Hold | |
2016-06-07 | Reiterated Rating | Deutsche Bank AG | Hold | |
2016-06-06 | Reiterated Rating | Jefferies Group | Buy | |
2016-06-06 | Reiterated Rating | Morgan Stanley | Buy | |
2016-06-06 | Reiterated Rating | JPMorgan Chase & Co. | Buy | |
2016-06-06 | Downgrade | Cowen and Company | Outperform to Market Perform | $77.00 to $70.00 |
2016-05-18 | Reiterated Rating | Deutsche Bank | Hold | $66.00 |
2016-05-18 | Reiterated Rating | BMO Capital Markets | Outperform | $70.00 |
2016-05-13 | Reiterated Rating | Jefferies Group | Buy | $90.00 |
2016-05-03 | Reiterated Rating | BMO Capital Markets | Buy | |
2016-04-30 | Reiterated Rating | Morgan Stanley | Buy | |
2016-04-29 | Reiterated Rating | Jefferies Group | Buy | $90.00 |
2016-04-26 | Reiterated Rating | Credit Suisse | Overweight | |
2016-04-06 | Initiated Coverage | Societe Generale | Sell | $47.00 |
2016-03-15 | Initiated Coverage | Deutsche Bank | Hold | $63.00 |
2016-03-10 | Reiterated Rating | Jefferies Group | Buy | $80.00 |
2016-03-07 | Downgrade | Goldman Sachs | Conviction-Buy to Buy | $80.00 to $68.00 |
2016-03-07 | Downgrade | Goldman Sachs Group Inc. | Conviction-Buy to Buy | $80.00 to $68.00 |
2016-02-23 | Reiterated Rating | Jefferies Group | Buy | $80.00 |
2016-02-23 | Upgrade | Citigroup Inc. | Neutral to Buy | $56.00 to $65.00 |
2016-02-06 | Reiterated Rating | William Blair | Buy | |
2016-02-05 | Lower Price Target | Credit Suisse | $69.00 to $67.00 | |
2016-02-05 | Initiated Coverage | William Blair | Outperform | $76.00 |
2016-01-27 | Lower Price Target | BMO Capital Markets | Outperform | $70.00 |
2016-01-25 | Reiterated Rating | Credit Suisse | Outperform | |
2016-01-15 | Reiterated Rating | Morgan Stanley | Buy | |
2016-01-15 | Reiterated Rating | BMO Capital Markets | Buy | $77.00 |
2016-01-14 | Lower Price Target | Jefferies Group | Buy | $85.00 to $80.00 |
2015-12-18 | Initiated Coverage | Atlantic Securities | Neutral | $59.00 |
2015-12-17 | Lower Price Target | Credit Suisse | $75.00 to $69.00 | |
2015-12-11 | Lower Price Target | Credit Suisse | Outperform | $78.00 to $75.00 |
2015-12-07 | Upgrade | Jefferies Group | Hold to Buy | $49.00 to $55.00 |
2015-12-03 | Reiterated Rating | Cowen and Company | Outperform | $75.00 to $70.00 |
2015-12-01 | Downgrade | Barclays | Overweight to Equal Weight | $73.00 to $72.00 |
2015-12-01 | Downgrade | Barclays PLC | Overweight to Equal Weight | $73.00 to $72.00 |
2015-11-10 | Reiterated Rating | Argus | Buy | $85.00 to $63.23 |
2015-11-02 | Boost Price Target | Credit Suisse | Outperform | $77.00 to $78.00 |
2015-11-02 | Upgrade | Morgan Stanley | Equal Weight to Overweight | $62.00 to $73.00 |
2015-10-30 | Reiterated Rating | Cowen and Company | Buy | |
2015-10-24 | Reiterated Rating | Citigroup Inc. | Neutral | $60.00 to $56.00 |
2015-10-23 | Reiterated Rating | JPMorgan Chase & Co. | Buy | |
2015-10-23 | Reiterated Rating | Jefferies Group | Buy | $85.00 to $85.00 |
2015-09-28 | Reiterated Rating | Cowen and Company | Outperform | |
2015-09-28 | Upgrade | Citigroup Inc. | Sell to Neutral | $55.00 to $60.00 |
2015-09-10 | Lower Price Target | Jefferies Group | Buy | $85.00 |
2015-07-29 | Reiterated Rating | Deutsche Bank | Buy | $80.00 to $85.00 |
2015-07-24 | Reiterated Rating | Evercore ISI | Buy | $70.00 |
2015-07-22 | Reiterated Rating | BMO Capital Markets | Outperform | $71.00 to $77.00 |
2015-07-22 | Initiated Coverage | SunTrust | Buy | $85.00 |
2015-07-22 | Initiated Coverage | SunTrust Banks Inc. | Buy | $85.00 |
2015-07-21 | Boost Price Target | BMO Capital Markets | Outperform | $71.00 to $77.00 |
2015-07-02 | Reiterated Rating | Citigroup Inc. | Sell | |
2015-06-17 | Initiated Coverage | Piper Jaffray | Overweight | |
2015-06-17 | Initiated Coverage | Piper Jaffray Cos. | Overweight | |
2015-06-16 | Initiated Coverage | Piper Jaffray | Overweight | $77.00 |
2015-06-08 | Boost Price Target | Jefferies Group | Buy | $86.00 to $90.00 |
2015-05-28 | Initiated Coverage | Morgan Stanley | Equal to Equal Weight | $72.00 |
2015-05-27 | Set Price Target | Cowen and Company | Buy | $70.00 to $72.00 |
2015-05-27 | Initiated Coverage | JPMorgan Chase & Co. | Overweight | $75.00 |
2015-05-09 | Reiterated Rating | Credit Suisse | Outperform | $69.00 |
2015-04-27 | Reiterated Rating | BMO Capital Markets | Outperform | $68.00 |
2015-04-24 | Set Price Target | BMO Capital Markets | Buy | $68.00 to $71.00 |
2015-04-13 | Upgrade | BMO Capital Markets | Market Perform to Outperform | $60.00 to $68.00 |
2015-04-08 | Reiterated Rating | Deutsche Bank | Buy | |
2015-03-05 | Reiterated Rating | Citigroup Inc. | Sell | |
2015-02-23 | Set Price Target | Deutsche Bank | Buy | $80.00 |
2015-02-11 | Set Price Target | Deutsche Bank | Buy | $80.00 |
2015-02-09 | Initiated Coverage | Citigroup Inc. | Sell | $48.00 |
2015-02-03 | Lower Price Target | Jefferies Group | Buy | $82.00 to $80.00 |
2015-01-16 | Boost Price Target | Barclays | Overweight | $69.00 to $73.00 |
2015-01-15 | Lower Price Target | Jefferies Group | Buy | $85.00 to $82.00 |
2015-01-09 | Downgrade | Bank of America | Buy to Neutral | $70.00 |
2015-01-09 | Downgrade | Bank of America Corp. | Buy to Neutral | $70.00 |
2014-12-23 | Boost Price Target | Jefferies Group | Buy | $80.00 to $85.00 |
2014-12-11 | Downgrade | Morgan Stanley | Overweight to Equal Weight | $72.00 |
2014-12-04 | Reiterated Rating | Jefferies Group | Buy | $72.00 to $80.00 |
2014-11-26 | Boost Price Target | Argus | Buy | $65.00 to $85.00 |
2014-11-14 | Initiated Coverage | Deutsche Bank | Buy | $80.00 |
2014-11-07 | Downgrade | BMO Capital Markets | Outperform to Market Perform | $61.00 to $65.00 |
2014-11-04 | Reiterated Rating | Jefferies Group | Buy | $85.00 to $72.00 |
2014-11-03 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $67.00 to $68.00 |
2014-11-03 | Boost Price Target | Goldman Sachs | $73.00 | |
2014-10-23 | Initiated Coverage | JPMorgan Chase & Co. | Overweight | $67.00 |
2014-10-23 | Initiated Coverage | Goldman Sachs | Buy | $68.00 |
2014-10-21 | Downgrade | Guggenheim | Buy to Neutral | |
2014-10-17 | Reiterated Rating | Bank of America | Buy | $65.00 to $61.00 |
2014-10-17 | Initiated Coverage | Evercore ISI | Buy | $58.00 |
2014-10-16 | Lower Price Target | BMO Capital Markets | Outperform | $71.00 to $59.00 |
2014-10-02 | Initiated Coverage | Guggenheim | Buy | $70.00 |
2014-09-09 | Boost Price Target | Cowen and Company | $62.00 to $65.00 | |
2014-09-04 | Lower Price Target | BMO Capital Markets | $72.00 to $71.00 | |
2014-08-06 | Boost Price Target | Credit Suisse | Outperform | $60.00 to $63.00 |
2014-07-14 | Boost Price Target | BMO Capital Markets | $68.00 to $72.00 | |
2014-07-14 | Reiterated Rating | Jefferies Group | Buy | $66.00 to $71.00 |
2014-07-02 | Upgrade | Barclays | Equal Weight to Overweight | $44.00 to $69.00 |
2014-06-24 | Boost Price Target | Argus | Buy | $59.00 to $65.00 |
2014-06-20 | Boost Price Target | Credit Suisse | Outperform | $58.00 to $60.00 |
2014-06-02 | Reiterated Rating | Morgan Stanley | Overweight | $60.00 |
2014-06-02 | Boost Price Target | BMO Capital Markets | Outperform | $57.00 to $60.00 |
2014-05-27 | Boost Price Target | Cowen and Company | Outperform | $56.00 to $62.00 |
2014-05-07 | Upgrade | Morgan Stanley | Equal Weight to Overweight | $47.00 to $60.00 |
2014-04-24 | Reiterated Rating | Bank of America | Buy | $55.00 |
2014-04-14 | Reiterated Rating | Jefferies Group | Buy | $61.00 |
2014-04-10 | Reiterated Rating | Morgan Stanley | Equal Weight | $47.00 |
2014-03-19 | Reiterated Rating | Jefferies Group | Buy | $60.00 |
2014-03-18 | Boost Price Target | JPMorgan Chase & Co. | $51.00 to $55.00 | |
2014-03-10 | Upgrade | Ned Davis Research | Neutral to Buy | |
2014-03-06 | Reiterated Rating | Goldman Sachs | Conviction-Buy | |
2014-02-21 | Reiterated Rating | Bank of America | Buy | $56.00 to $58.00 |
2014-01-28 | Lower Price Target | BMO Capital Markets | $58.00 to $57.00 | |
2014-01-09 | Boost Price Target | Jefferies Group | Buy | $67.00 to $68.00 |
2013-12-31 | Reiterated Rating | Bank of America | Buy | $53.00 to $56.00 |
2013-12-19 | Downgrade | Morgan Stanley | Overweight to Equal Weight | |
2013-12-17 | Downgrade | Morgan Stanley | Overweight to Equal Weight | $57.00 |
2013-12-13 | Set Price Target | Jefferies Group | $58.00 to $67.00 | |
2013-12-03 | Upgrade | Goldman Sachs | Buy to Conviction-Buy | |
2013-10-29 | Boost Price Target | Argus | Focus List to Buy | $52.00 to $59.00 |
2013-10-29 | Reiterated Rating | Jefferies Group | Buy | $55.00 |
2013-10-25 | Upgrade | BMO Capital Markets | Market Perform to Outperform | $55.00 |
2013-10-11 | Reiterated Rating | Jefferies Group | Buy | $54.00 to $55.00 |
2013-10-08 | Initiated Coverage | Credit Suisse | Outperform | |
2013-09-27 | Reiterated Rating | Jefferies Group | Buy | $54.00 |
2013-08-12 | Initiated | Argus | Buy | $52 |
2013-05-15 | Reiterated | R. F. Lafferty | Buy | $47.90 to $61 |
2013-04-29 | Reiterated | Barclays | Equal Weight | $41 to $44 |
2016-07-10 | Reiterated Rating | Credit Suisse Group AG | Buy | |
2016-06-29 | Reiterated Rating | Credit Suisse | Outperform | $67.00 |
2016-06-29 | Reiterated Rating | Credit Suisse Group AG | Outperform | $67.00 |
2016-06-10 | Downgrade | BMO Capital Markets | Outperform to Market Perform | $70.00 to $66.00 |
2016-06-08 | Downgrade | Morgan Stanley | Overweight to Equal Weight | $73.00 to $65.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In ABBV 1621 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
Vanguard Group, Inc | 0.16B |
BlackRock Inc. | 0.13B |
STATE STREET CORP | 77.49M |
JPMORGAN CHASE & CO | 58.48M |
Capital International Investors | 45.83M |
BlackRock Institutional Trust Company, N.A. | 43.46M |
Capital Research Global Investors | 36.19M |
GEODE CAPITAL MANAGEMENT, LLC | 33.83M |
MORGAN STANLEY | 26.79M |
PRICE T ROWE ASSOCIATES INC /MD/ | 24.52M |
BlackRock Fund Advisors | 22.18M |
NORTHERN TRUST CORP | 21.85M |
BANK OF AMERICA CORP /DE/ | 20.70M |
HENDERSON GROUP PLC | 16.20M |
FMR LLC | 15.02M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
CHASE WILLIAM J EVP, Chief Financial Officer | 0.01% (164863) | ABBV / |
SEVERINO MICHAEL EVP, R&D and CSO | 0.01% (132281) | ABBV / |
LEONARD JOHN M. SVP, Chief Scientific Officer | 0.01% (107320) | ABBV / CMRX / NTLA / Q / VTAE / |
Schumacher Laura J EVP, Bus.Dev.,Ext.Aff.&GC | 0.01% (98317) | ABBV / GD / |
ALBAN CARLOS EVP, Commercial Operations | 0.01% (97552) | ABBV / |
SALEKI-GERHARDT AZITA SVP, Operations | 0.01% (93312) | ABBV / ENTG / |