AbbVie Inc.

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 in 2013.

History

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. As of December 2015, the company employs in excess of 28,000 globally, and provides products to individuals in more than 170 companies.

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).