Corporate Banner
Satellite Banner
Medicinal Chemistry
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Abbott Completes Separation of Research-Based Pharmaceuticals Business

Published: Monday, January 07, 2013
Last Updated: Monday, January 07, 2013
Bookmark and Share
Set to deliver industry-leading growth, expanding margins and strong cash flow.

Abbott has announced that it has completed the separation of its research-based pharmaceuticals business, which became AbbVie, a new independent biopharmaceutical company.

AbbVie will begin trading independently on the New York Stock Exchange under the symbol "ABBV."

On Nov. 28, 2012, Abbott's board of directors declared a special dividend distribution of all outstanding shares of AbbVie common stock.

For every 1 share of Abbott common shares held as of close of business on Dec. 12, 2012, Abbott shareholders received 1 share of AbbVie common stock on Jan. 1, 2013.

Abbott has announced in October 2011 that it was separating into two independent companies, as its businesses evolved into two different investment identities.

AbbVie is a research-based specialty biopharmaceuticals company with a broad portfolio of medicines, including leadership in immunology and virology, and a pipeline of breakthrough therapies.

Abbott is one of the largest science-based, diversified healthcare companies, with market-leading offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.

"We wish our colleagues at AbbVie continued success as they become part of a new, independent company that is already making a significant difference, focusing on highly specialized, market-leading therapies for some of the world's most difficult-to-treat diseases," said Miles D. White, chairman and chief executive officer, Abbott.

"Abbott has taken the most transformative action in its 125-year history," said Mr. White. "We have had enduring success precisely because of what we're doing now – reinventing ourselves for changing times and creating new ways to serve the millions of patients, customers, communities and shareholders who depend on us."

Strength Through Diversity
Abbott begins its 125th year with approximately $22 billion in revenues generated throughout 150 countries and remains one of the largest and most far-reaching global healthcare companies, with diversity across technologies, businesses and geographies.

The company is comprised of four businesses of roughly equal size - diagnostics, medical devices, nutritionals and branded generic pharmaceuticals. Abbott's businesses are all leaders in their respective fields and hold the top market positions across numerous categories. These businesses develop leading, science-based products that are meeting the needs of patients and consumers in the evolving global healthcare environment.

Abbott is well positioned to deliver reliable performance with industry-leading growth, expanding margins and strong cash flow. The company's businesses are aligned with long-term health trends, including the world's aging population, increasing prevalence of chronic disease, and improving access to care in fast-growing economies.

Continued investment in new technologies is advancing Abbott's offerings in vascular health, diabetes care, diagnostic screening and detection, vision correction and nutrition science.

Revenue among Abbott's businesses is well balanced geographically, with 30 percent generated in the United States, 30 percent from Western Europe, Canada, Japan and Australia, and 40 percent from the fastest-growing economies, including India, China, Russia and Brazil.

The company's presence in these high-growth markets is among the most expansive of any diversified healthcare company and is expected to reach nearly 50 percent of sales by 2015.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Abbott to Acquire Veropharm
The acquisition of the Russian pharmaceutical manufacturer is in keeping with the long term commitment to provide healthcare products to Russian patients.
Monday, June 23, 2014
Abbott to Collaborate with Pfizer Inc on Companion Diagnostic Test
Collaboration will select patient candidates for novel investigational non-small cell lung cancer therapy.
Friday, August 28, 2009
Scientific News
Combining Chemotherapy With Immune-Blocking Drug Could Stop Cancer Growing Back
Giving patients a drug that blocks part of the immune system from going into overdrive might help prevent cancer coming back in some people.
Researchers Pioneer Use of Capsules to Save Materials
Wax capsule delivery systems can simplify a wide range of chemistry transformations.
Photoredox Catalyst Unlocks New Pathways for Nickel Chemistry
Using a light-activated catalyst, researchers have unlocked a new pathway in nickel chemistry to construct carbon-oxygen (C-O) bonds that would be highly valuable to pharmaceutical and agrochemical industries.
Scientists Determine How Antibiotic Gains Cancer-Killing Sulfur Atoms
In a discovery with implications for future drug design scientists have shown an unprecedented mechanism for how a natural antibiotic with antitumor properties incorporates sulfur into its molecular structure, an essential ingredient of its antitumor activity.
Familiar Drugs May Block Ebola Virus Infection
A well-known class of molecules, many of which are already in use therapeutically, may be able to block the Ebola virus’s entry into cells and halt the disease in its tracks, according to researchers at the University of Illinois at Chicago.
New Extra ‘Sticky’ Microgel Could Revolutionise Bladder Cancer Treatment
Researchers have designed a new super-efficient way of delivering an anti-cancer drug which could extend and improve the quality of life for bladder cancer patients - and perhaps save lives.
Common Class of ‘Channel Blocking’ Drugs May Find a Role in Cancer Therapy
Discoveries in fruit flies prompt unusual treatment of patient with metastatic disease.
Common Medications Could Delay Brain Injury Recovery
Drugs used to treat common complaints could delay the recovery of brain injury patients according to research by University of East Anglia (UEA) and University of Aberdeen scientists, published today in Brain Injury.
Scientists Make Strides in Therapy Preventing Addiction Relapse
Single Injection of Drug Candidate Prevents Meth Relapse in Animal Models.
New Clot-Busting Treatments Target Number One Killer
Australian researchers funded by the National Heart Foundation are a step closer to a safer and more effective way to treat heart attack and stroke via nanotechnology.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!