Corporate timeline of AbbVie, a biopharmaceutical company spun off from Abbott Laboratories in 2013. The timeline traces its founding, key executive leadership, landmark product launches (notably Humira), major acquisitions (Pharmacyclics, Allergan, ImmunoGen, Cerevel), regulatory milestones, financial performance, and the impact of biosimilar competition.
Abbott Laboratories announces plans to split into two companies: Abbott (medical devices and diagnostics) and AbbVie (research-based pharmaceuticals). The spin-off is structured as a tax-free distribution to Abbott shareholders. #corporate #pharma
Richard A. Gonzalez, former Abbott executive, becomes the first CEO of AbbVie. He previously led Abbott's pharmaceutical division and is credited with shaping AbbVie's strategic focus on immunology, oncology, and virology. #leadership #ceo )
AbbVie Inc. begins trading as an independent company on the New York Stock Exchange (ticker: ABBV). The company inherits a robust pipeline and the blockbuster drug Humira from Abbott. #ipo #pharma
AbbVie reports 2013 revenue of $18.8 billion, driven primarily by Humira (adalimumab), which accounts for over 60% of sales. Humira becomes the world's best-selling drug. #earnings #pharma
AbbVie announces a $1 billion restructuring and cost-cutting plan to improve operational efficiency, including workforce reductions and site consolidations. The plan aims to offset lower margins from generic competition. #restructuring #pharma
The U.S. FDA approves AbbVie's Viekira Pak (ombitasvir/paritaprevir/ritonavir + dasabuvir) for genotype 1 chronic hepatitis C. The oral regimen enters a competitive market dominated by Gilead's Sovaldi. #fda #hepatitis
AbbVie completes acquisition of Pharmacyclics, gaining Imbruvica (ibrutinib), a BTK inhibitor for B-cell cancers. The deal strengthens AbbVie's oncology pipeline and makes Imbruvica a key growth driver. #acquisition #oncology
AbbVie settles patent litigation with Amgen, allowing Amgen's biosimilar of Humira (Amjevita) to enter the US market in 2023, with other biosimilar launches also delayed. This strategy preserves Humira exclusivity for years. #patent #biologics
AbbVie terminates its planned acquisition of Shire plc after the US Treasury tightens tax inversion rules. The breakup fee costs AbbVie $1.6 billion. The deal was intended to lower AbbVie's tax rate by reincorporating in the UK. #merger #tax
AbbVie acquires Stemcentrx, gaining Rova-T (rovalpituzumab tesirine) for small-cell lung cancer. The deal is seen as a bet on cancer stem cell research but later leads to disappointment when Rova-T fails in Phase III trials. #acquisition #oncology
Imbruvica (ibrutinib) receives FDA approval for chronic graft-versus-host disease (cGvHD), expanding its use beyond B-cell malignancies. It becomes the first FDA-approved treatment for cGvHD. #fda #oncology
AbbVie's Mavyret (glecaprevir/pibrentasvir) receives FDA approval for all genotypes of hepatitis C, with an 8-week treatment duration. It becomes a key competitor in the hepatitis C market. #fda #hepatitis
AbbVie partners with Calico (a Google-backed biotech) for $1.5 billion to develop therapies for age-related diseases like neurodegeneration and cancer. The collaboration ends in 2024 after mixed results. #partnership #research )
AbbVie acquires exclusive rights to Voyager's gene therapy programs for Parkinson's disease and other neurological conditions. The deal expands AbbVie's neuroscience pipeline. #acquisition #genetherapy
Orilissa (elagolix), a GnRH antagonist, is approved by the FDA for managing moderate to severe endometriosis pain. It is the first oral treatment for endometriosis in over a decade. #womenshealth #fda
AbbVie launches a controversial DTC campaign for Humira targeting patients with psoriasis and rheumatoid arthritis, emphasizing the drug's efficacy despite high list prices. #marketing #advertising
AbbVie's Rova-T fails to meet primary endpoints in a Phase III trial for small-cell lung cancer, leading to a $4 billion write-down on the Stemcentrx acquisition. The failure raises questions about AbbVie's oncology strategy. #clinicaltrials #biotech
A US court rules in favor of AbbVie in a patent infringement case against Samsung Bioepis over a Humira biosimilar, delaying its market entry until 2023. The ruling protects Humira's exclusivity. #patent #litigation
AbbVie announces it will acquire Allergan, gaining blockbuster products like Botox, Restasis, and a pipeline in medical aesthetics, neuroscience, and eye care. The deal is aimed at diversifying beyond Humira. #merger #pharma
Rinvoq (upadacitinib), a JAK inhibitor, is approved for moderate-to-severe rheumatoid arthritis. It competes with Xeljanz and Olumiant and later gains approvals for other inflammatory conditions. #fda #immunology
Skyrizi (risankizumab), an IL-23 inhibitor, receives FDA approval for moderate-to-severe plaque psoriasis. It becomes a key immunology product for AbbVie alongside Rinvoq. #fda #immunology
AbbVie terminates the Rova-T program after multiple clinical failures, resulting in a $4 billion impairment charge. The decision marks a major setback in oncology. #clinicaltrials #biotech
AbbVie closes the $63 billion acquisition of Allergan, adding brands like Botox, Juvederm, and Vraylar. The combined company becomes a top-five global biopharmaceutical firm. #merger #pharma
During the COVID-19 pandemic, AbbVie donates Humira and other drugs for research and repurposes manufacturing. The company's supply chain remains largely intact, though elective procedures for Botox see a temporary decline. #covid19 #pharma
Annual Humira sales reach a record $20.7 billion, representing nearly half of AbbVie's total revenue. The drug's patent protection remains intact in the US for another two years. #earnings #pharma
Rinvoq receives FDA approval for moderate-to-severe atopic dermatitis, expanding its immunology portfolio. The drug faces safety concerns with labeling for serious infections and thrombosis. #fda #immunology
AbbVie invests $600 million to expand its North Chicago R&D campus, adding jobs and research capacity. The investment is seen as a commitment to innovation in immunology and oncology. #investment #research
The European Commission approves Amgevita, the first biosimilar of Humira, for marketing in the EU. This marks the beginning of biosimilar competition in Europe, impacting AbbVie's sales there. #europe #biosimilars
AbbVie partners with Genmab to develop next-generation bispecific antibodies for multiple myeloma. The collaboration includes an upfront payment and milestone fees. #partnership #oncology
AbbVie authorizes a $5 billion share repurchase program to signal confidence despite upcoming Humira biosimilar erosion. The company also increases its dividend. #finance #shareholders
Skyrizi receives FDA approval for active psoriatic arthritis, expanding its label beyond psoriasis. It competes with other IL-23 inhibitors. #fda #immunology
Amjevita, the first biosimilar of Humira, enters the US market at a significant discount. Multiple other biosimilars follow in subsequent months, sharply eroding Humira's sales. #biosimilars #pharma
AbbVie reaches a settlement with Alvotech over its Humira biosimilar, allowing market entry in 2023. The deal includes royalty payments and provides clarity for the biosimilar landscape. #patent #settlement
AbbVie reports a 28% drop in Humira sales to $3.9 billion in Q2 2023 due to biosimilar competition. Revenue overall declines, but Skyrizi and Rinvoq show growth. #earnings #biosimilars
AbbVie agrees to acquire ImmunoGen, gaining the ovarian cancer drug Elahere (mirvetuximab soravtansine) and an ADC platform. The deal bolsters AbbVie's oncology pipeline. #acquisition #oncology
AbbVie agrees to acquire Cerevel Therapeutics for $8.7 billion, adding a pipeline of neuroscience assets for schizophrenia, depression, and Parkinson's disease. #acquisition #neuroscience
AbbVie completes the acquisition of ImmunoGen, adding Elahere (mirvetuximab soravtansine) to its oncology portfolio. Elahere is approved for folate receptor-alpha positive ovarian cancer. #acquisition #oncology
The FDA grants full approval to Elahere (mirvetuximab soravtansine) for platinum-resistant ovarian cancer based on MIRASOL trial data. It is the first ADC approved for ovarian cancer. #fda #oncology
Vraylar (cariprazine) receives FDA approval for bipolar II disorder, expanding its label beyond schizophrenia and bipolar I. The drug becomes a key player in central nervous system for AbbVie. #fda #neuroscience
AbbVie completes the $8.7 billion acquisition of Cerevel Therapeutics, gaining mid-stage neuroscience assets including emraclidine for schizophrenia. #acquisition #neuroscience
Rinvoq gains FDA approval for moderately to severely active ulcerative colitis, further expanding its immunology indications. The drug faces safety monitoring for cardiovascular risks. #fda #inflammatory
AbbVie reports Q3 2024 revenue of $13.9 billion, driven by Skyrizi ($2.8B) and Rinvoq ($1.6B), partially offsetting Humira's decline. The company raises its full-year guidance. #earnings #pharma
AbbVie authorizes a new $15 billion share repurchase program and increases dividend, signaling confidence in its post-Humira growth strategy. The company expects continued momentum from Skyrizi, Rinvoq, and new oncology launches. #finance #dividend
The FDA approves emraclidine (Cerevel's lead asset) for schizophrenia, offering a novel mechanism as a muscarinic M4 agonist. The drug is expected to become a blockbuster. #fda #neuroscience
AbbVie settles a long-running antitrust lawsuit with Gilead over alleged rebate practices in the hepatitis C market. Terms are not disclosed but remove legal uncertainty. #legal #antitrust
AbbVie sells a portion of its aesthetics business (including Juvederm and SkinMedica) to a private equity firm for $4.5 billion, streamlining focus on pharmaceuticals. #divestiture #aesthetics