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AbbVie company logo
Corporation
HEALTHCARE | Biotechnology
abbvie.com

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Investments

3

Partners & Customers

10

Service Providers

1

About AbbVie

AbbVie (NYSE: ABBV) consists of scientists, researchers, communicators, manufacturing specialists, and regulatory professionals who seek to come up with new approaches to addressing today's health issues-from life-threatening illness to chronic conditions. The company focuses its R&D efforts and technology investments to pursue this goal.

AbbVie Headquarter Location

1 Waukegan Road

North Chicago, Illinois, 60064,

United States

800-255-5162

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Expert Collections containing AbbVie

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find AbbVie in 4 Expert Collections, including Fortune 500 Investor list.

F

Fortune 500 Investor list

590 items

This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.

D

Diabetes

1,750 items

M

Medical Devices

3,088 items

Companies that have been granted at least 1 510(k) by the FDA since 2014. Companies tagged as #FDA510(K)

B

Biopharma Tech

260 items

AbbVie Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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AbbVie Rank

Latest AbbVie News

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Lucid, AbbVie, Playstudios, and IBM and Encourages Investors to Contact the Firm

May 19, 2022

Lead Plaintiff Deadline: June 6, 2022 AbbVie is one of the world's largest pharmaceutical companies. The company's revenues will come under significant pressure in the coming years when its best-selling drug, Humira, will lose patent protection in 2023. Accordingly, AbbVie's future revenue and earnings depend in large part on its ability to develop new sources of revenue to offset Humira's lost sales. Rinvoq—an anti-inflammatory drug manufactured by AbbVie and used to treat rheumatoid arthritis (RA) and other diseases by inhibiting Janus kinase (JAK) enzymes—was touted as one such drug. Rinvoq was initially approved in the United States to treat only moderate to severe RA. However, AbbVie was actively pursuing additional treatment indications and, in 2020, asked the U.S. Food and Drug Administration (FDA) to approve Rinvoq for the treatment of several other diseases. As is relevant here, Rinvoq is similar to other JAK inhibitor drugs, including Xeljanz, manufactured by Pfizer Inc. When the FDA approved Xeljanz in 2012 for the treatment of RA, it required an additional safety trial to evaluate Xeljanz's risk of triggering certain serious side effects. Beginning in February 2019, the FDA repeatedly warned the public that the safety trial indicated that Xeljanz's use could lead to serious heart-related issue, cancer, and other adverse events. Notwithstanding the similarities between Rinvoq and Xeljanz, during the Class Period, Defendants assured investors that Rinvoq was far safer than Xeljanz and not subject to the same regulatory risks. However, investors began to learn the truth about Rinvoq's significant risks on June 25, 2021, when AbbVie revealed that the FDA was delaying its review of expanded treatment applications for Rinvoq due to the safety concerns associated with Xeljanz. On this news, the price of AbbVie common stock declined $1.76 per share, or approximately 1.5%, from a close of $114.74 per share on June 24, 2021, to close at $112.98 per share on June 25, 2021. Then, on September 1, 2021, the FDA announced that final results from the Xeljanz safety trial established an increased risk of serious adverse events, even with low doses of Xeljanz. As a result, the FDA determined that it would require new and updated warnings for Xeljanz and Rinvoq because Rinvoq "share[s] similar mechanisms of action with Xeljanz" and "may have similar risks as seen in the Xeljanz safety trial." The FDA also indicated that it would further limit approved indications for Rinvoq as a result of these safety concerns. On this news, the price of AbbVie common stock declined $8.51 per share, or more than 7%, from a close of $120.78 per share on August 31, 2021, to close at $112.27 per share on September 1, 2021. After the Class Period, on December 3, 2021, AbbVie announced that the FDA had updated Rinvoq's label to require additional safety warnings and limit marketing of Rinvoq to only its use after treatment with other drugs has failed. On January 11, 2022, Defendants admitted that these changes to Rinvoq's label would negatively impact sales, forcing the Company to reduce its long-term guidance for Rinvoq's sales in 2025. The complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, about the company's business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, Defendants' statements about the company's business, operations, and prospects lacked a reasonable basis, As a result of the Defendants' wrongful acts and omissions, and the significant decline in the market value of AbbVie's securities, AbbVie investors have suffered significant damages. For more information on the AbbVie class action go to: https://bespc.com/cases/ABBV Playstudios, Inc. (NASDAQ: MYPS) Lead Plaintiff Deadline: June 6, 2022 Playstudios repeatedly communicated to the market that its game Kingdom Boss was “on track” for a 2021 release throughout that year. The Company represented that it would enjoy significant revenue and profits from this launch, including representations near the SPAC merger between the Company and Acies Acquisition Corp. The Company then announced on February 26, 2022, that Kingdom Boss had been indefinitely “suspended.” The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Playstudios was having significant problems with its flagship game, Kingdom Boss; (ii) Playstudios would not be releasing Kingdom Boss as expected; and (iii) Playstudios had not revised its financial projections to account for the problems it had encountered with Kingdom Boss. As a result of defendants' wrongful conduct, Class members paid artificially inflated prices for their Playstudios securities and suffered substantial losses and damages. For more information on the Playstudios class action go to: https://bespc.com/cases/MYPS International Business Machines Corporation (NYSE: IBM) Class Period: April 4, 2017 – October 20, 2021 Lead Plaintiff Deadline: June 6, 2022 On October 20, 2021, after the close of the market, IBM disclosed that it was going to suffer a revenue shortfall, with its Cognitive & Cloud Computing segment the main culprit. Unbeknownst to the investing public, the Company had stopped and/or curtailed its improper conduct described below, which caused Company results to suffer. On this news, IBM's common stock fell from its close on October 20, 2021, of $133.87 per share to close at $121.07 per share on October 21, 2022, a loss of almost $13.00 per share, thereby injuring investors. The complaint filed in this class action alleges that prior to and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants overstated IBM's revenues from its strategic side of the business, by misclassifying and/or shifting revenues from its non-strategic mainframe part of the business, to appease market expectations about the Company's future prospects and boost incentive compensation for its executives. This misconduct began prior to the start of the Class Period and continued throughout. The defendants in the case are IBM, Virginia M. Rometty, Martin J. Schroeter, James J. Kavanaugh and Arvind Krishna. The Complaint alleges that the conduct of Defendants violates Sections 10(b) and 20(a) of the Exchange Act of 1934. For more information on the IBM class action go to: https://bespc.com/cases/IBM About Bragar Eagel & Squire, P.C. : Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information:

AbbVie Investments

3 Investments

AbbVie has made 3 investments. Their latest investment was in St. Jude Children's Research Hospital as part of their Grant on December 12, 2018.

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AbbVie Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/3/2018

Grant

St. Jude Children's Research Hospital

$50M

Yes

1

6/12/2017

Debt

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$99M

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10

5/14/2013

Project Finance

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$99M

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10

Date

12/3/2018

6/12/2017

5/14/2013

Round

Grant

Debt

Project Finance

Company

St. Jude Children's Research Hospital

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Amount

$50M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

AbbVie Acquisitions

9 Acquisitions

AbbVie acquired 9 companies. Their latest acquisition was Syndesi Therapeutics on March 01, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/1/2022

Series A

$99M

$24.4M

Acquired

5

6/24/2021

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$99M

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10

3/2/2021

Series A

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$99M

$99M

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10

7/15/2019

Series A

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$99M

$99M

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10

5/25/2019

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$99M

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10

Date

3/1/2022

6/24/2021

3/2/2021

7/15/2019

5/25/2019

Investment Stage

Series A

Series A

Series A

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$24.4M

$99M

$99M

Note

Acquired

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Sources

5

10

10

10

10

AbbVie Partners & Customers

10 Partners and customers

AbbVie has 10 strategic partners and customers. AbbVie recently partnered with Cerebras Systems on May 5, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

5/5/2022

Vendor

United States

AbbVie and Cerebras Systems partner to accelerate AI research

AbbVie and Cerebras Systems partner to accelerate AI research

2

5/5/2022

Partner

United States

Ironwood Pharmaceuticals Reports First Quarter 2022 Results; Maintains Full Year 2022 Financial Guidance

4 R&D expenses related to LINZESS in the U.S. are shared equally between Ironwood Pharmaceuticals , Inc. and AbbVie Inc. under the collaboration agreement .

2

4/28/2022

Licensor

United States

08:00 EDT Abbvie and Plexium Enter Into Multi-Target Strategic Collaboration To Develop and Commercialize Targeted Protein Degra...

`` Our partnership with AbbVie allows us to strengthen our leadership position in Targeted Protein Degradation and broaden our best-in-class capabilities into neurological diseases , '' said Plexium & CEO Percival Barretto-Ko .

3

4/27/2022

Licensee

South Korea

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10

4/20/2022

Licensor

United States

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10

Date

5/5/2022

5/5/2022

4/28/2022

4/27/2022

4/20/2022

Type

Vendor

Partner

Licensor

Licensee

Licensor

Business Partner

Country

United States

United States

United States

South Korea

United States

News Snippet

AbbVie and Cerebras Systems partner to accelerate AI research

AbbVie and Cerebras Systems partner to accelerate AI research

Ironwood Pharmaceuticals Reports First Quarter 2022 Results; Maintains Full Year 2022 Financial Guidance

4 R&D expenses related to LINZESS in the U.S. are shared equally between Ironwood Pharmaceuticals , Inc. and AbbVie Inc. under the collaboration agreement .

08:00 EDT Abbvie and Plexium Enter Into Multi-Target Strategic Collaboration To Develop and Commercialize Targeted Protein Degra...

`` Our partnership with AbbVie allows us to strengthen our leadership position in Targeted Protein Degradation and broaden our best-in-class capabilities into neurological diseases , '' said Plexium & CEO Percival Barretto-Ko .

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Sources

2

2

3

10

10

AbbVie Service Providers

1 Service Provider

AbbVie has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Acq - P2P

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Acq - P2P

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

AbbVie Team

34 Team Members

AbbVie has 34 team members, including current Chief Executive Officer, Richard A. Gonzalez.

Name

Work History

Title

Status

Richard A. Gonzalez

Chief Executive Officer

Current

Alberto Colzi

President

Current

Caleb Rice

President

Current

Michael E. Severino

President

Current

Carrie Strom

President, Senior Vice President

Current

Name

Richard A. Gonzalez

Alberto Colzi

Caleb Rice

Michael E. Severino

Carrie Strom

Work History

Title

Chief Executive Officer

President

President

President

President, Senior Vice President

Status

Current

Current

Current

Current

Current

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