ABBV 169.45 (+0.85%)
US00287Y1091Drug ManufacturersDrug Manufacturers - General

Last update on 2024-03-06

AbbVie (ABBV) Explained

An Overview of ABBV: Its Business Strategy, Core Products, Major Competitors, and Essential Insights into its Role in the Drug Manufacturers - General Industry

AbbVie is a pharmaceutical company with a strong exposure to immunology and oncology. The firms top drug, Humira, represents close to half of the companys current profits. The company was spun off from Abbott in early 2013. The recent acquisition of Allergan adds several new drugs in aesthetics and womens health.

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Current Business Strategy

AbbVie's current strategy focuses on expanding its portfolio across multiple therapeutic areas, including immunology, oncology, neuroscience, and virology, through organic growth, strategic acquisitions, and collaborations. The company aims to leverage its research and development capabilities to innovate and deliver transformative therapies. AbbVie also focuses on maximizing the value of its current leading products while investing in the development of next-generation treatments.

Most known Products

Here is the list of the 5 most well-known products of AbbVie (ABBV):

  • Humira: A biologic therapy used for the treatment of several autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and Crohn's disease. It is one of the world's best-selling prescription drugs.
  • Imbruvica: A cancer medication used in the treatment of several types of blood cancers, including chronic lymphocytic leukemia, mantle cell lymphoma, and Waldenström's macroglobulinemia. It works by inhibiting a protein that helps cancer cells grow.
  • Venclexta: An oncology drug approved for use in the treatment of chronic lymphocytic leukemia and acute myeloid leukemia in combination with other drugs. It targets and inhibits the BCL-2 protein, which supports cancer cell survival.
  • Skyrizi: A prescription medication used for the treatment of moderate to severe plaque psoriasis and active psoriatic arthritis. It is a biologic drug that targets interleukin-23 (IL-23), a key player in the inflammatory process.
  • Rinvoq: An oral medication approved for the treatment of moderate to severe rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis. Rinvoq works by inhibiting Janus kinase (JAK) pathways, which are involved in the immune process.

Competitors

Here is the list of the main 5 competitors of AbbVie (ABBV):

  • PFE: Pfizer competes with AbbVie in multiple therapeutic areas, including oncology and immunology. Both companies have extensive product lines and pipelines in these areas, making them direct competitors.
  • JNJ: Johnson & Johnson, through its pharmaceutical segment Janssen, is a competitor in areas such as immunology and oncology. Both AbbVie and J&J have leading products in these markets, competing for market share.
  • MRK: Merck is known for its strong presence in oncology, directly competing with AbbVie's oncology products. Their leading cancer therapies put them in direct competition for patients and market share.
  • GILD: Gilead Sciences competes with AbbVie in the virology space, particularly in treatments for HIV and hepatitis C. Both companies aim to lead in developing and marketing treatments for these diseases.
  • BMY: Bristol-Myers Squibb, with its diverse portfolio in oncology, immunology, and more, competes across several of the same therapeutic areas as AbbVie. Their focus on developing innovative treatments in these areas makes them a key competitor.

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