AbbVie Inc.: Business Model, SWOT Analysis, and Competitors 2024

In this blog article, we will delve into an in-depth analysis of AbbVie Inc., a renowned pharmaceutical company. We will explore their business model, which has driven their success and growth in the industry. Additionally, we will conduct a SWOT analysis to identify AbbVie Inc.'s strengths, weaknesses, opportunities, and threats in the ever-evolving market. Furthermore, we will examine their key competitors and discuss the strategies they employ to stay competitive. Join us as we explore AbbVie Inc.'s current position and future prospects in 2024.

What You Will Learn:

• Who owns AbbVie Inc. and gain insight into the company's ownership structure.
• Understand the mission statement of AbbVie Inc. and its core values.
• Discover how AbbVie Inc. generates revenue and the primary sources of its income.
• Explore the AbbVie Inc. Business Model Canvas and gain a comprehensive understanding of its key components.
• Identify the major competitors of AbbVie Inc. in the pharmaceutical industry.
• Conduct a SWOT Analysis of AbbVie Inc. to assess its strengths, weaknesses, opportunities, and threats.

Who owns AbbVie Inc.?

Major Institutional Shareholders

AbbVie Inc. is a publicly traded company, meaning it is owned by a multitude of individual and institutional shareholders. Let's take a look at some of the major institutional shareholders who own a significant stake in AbbVie Inc.

Vanguard Group Inc.

Vanguard Group Inc. is the largest institutional shareholder of AbbVie Inc. As of the latest available data, Vanguard Group Inc. holds approximately XX million shares of AbbVie Inc., accounting for around XX% of the company's total outstanding shares. Vanguard's significant ownership stake in AbbVie Inc. demonstrates their confidence in the company's performance and potential.

BlackRock Inc.

BlackRock Inc., another major player in the investment management industry, holds a substantial ownership position in AbbVie Inc. As of the most recent data, BlackRock Inc. owns approximately XX million shares of AbbVie Inc., which represents roughly XX% of the company's total outstanding shares. BlackRock's significant holding in AbbVie Inc. signifies their belief in the company's long-term prospects.

State Street Corporation

State Street Corporation, a prominent financial services holding company, is also among the major institutional shareholders of AbbVie Inc. According to the latest available information, State Street Corporation owns approximately XX million shares of AbbVie Inc., accounting for approximately XX% of the company's total outstanding shares. State Street Corporation's substantial ownership stake reflects their confidence in AbbVie Inc.'s continued success.

Notable Individual Shareholders

Aside from institutional investors, there are also notable individual shareholders who own a significant stake in AbbVie Inc. These individuals have made substantial investments in the company, indicating their belief in its growth potential and financial performance.

Richard A. Gonzalez

Richard A. Gonzalez, the CEO of AbbVie Inc., is one of the notable individual shareholders of the company. As of the latest data, Gonzalez owns approximately XX million shares of AbbVie Inc., representing approximately XX% of the company's total outstanding shares. Gonzalez's significant personal investment in AbbVie Inc. demonstrates his alignment with the company's goals and his confidence in its future prospects.

Other Individual Shareholders

AbbVie Inc. has a diverse range of individual shareholders who hold notable stakes in the company. These individuals include executives, board members, and other high-net-worth investors. While their ownership percentages may not be as substantial as the institutional shareholders mentioned earlier, their collective holdings contribute to the overall ownership structure of AbbVie Inc.

Conclusion

AbbVie Inc. is owned by a combination of major institutional shareholders and notable individual investors. Vanguard Group Inc., BlackRock Inc., and State Street Corporation are among the largest institutional shareholders, while Richard A. Gonzalez, the company's CEO, is a notable individual shareholder. The diverse ownership structure of AbbVie Inc. reflects the confidence and belief that both institutional and individual investors have in the company's future success.

What is the mission statement of AbbVie Inc.?

The Commitment to Improving Lives

AbbVie Inc. is a pharmaceutical company that is dedicated to improving the lives of people around the world. Their mission statement reflects their commitment to making a remarkable impact on patients' lives and fulfilling unmet medical needs.

Providing Innovative Solutions

The mission statement of AbbVie Inc. can be summarized as follows: "To discover and deliver innovative medicines that solve serious health issues and have a remarkable impact on people's lives." This statement emphasizes the company's focus on developing groundbreaking solutions that tackle complex medical challenges.

Patient-Centric Approach

AbbVie Inc. places patients at the center of everything they do. Their mission statement reflects their dedication to addressing unmet medical needs and improving patient outcomes. By prioritizing patient-centricity, AbbVie Inc. aims to enhance the quality of life for individuals living with various diseases and conditions.

Collaboration and Partnership

AbbVie Inc. recognizes the power of collaboration and partnership in achieving their mission. Their mission statement highlights their commitment to working with healthcare professionals, researchers, patient organizations, and other stakeholders to develop and deliver innovative therapies. By fostering strong collaborations, AbbVie Inc. aims to accelerate the discovery and delivery of transformative medicines.

Global Impact

AbbVie Inc. is driven by a global vision to impact healthcare worldwide. Their mission statement reflects their ambition to make a remarkable difference in people's lives, regardless of their geographical location. By addressing unmet medical needs on a global scale, AbbVie Inc. strives to improve access to innovative treatments and contribute to the overall advancement of healthcare.

Conclusion

In summary, AbbVie Inc.'s mission statement showcases their commitment to improving lives by developing innovative medicines, prioritizing patients, collaborating with stakeholders, and making a global impact. Through their unwavering dedication, AbbVie Inc. continues to drive advancements in healthcare and make a positive difference in the lives of patients worldwide.

How does AbbVie Inc. make money?

Pharmaceutical products and services

AbbVie Inc. primarily generates its revenue through the sale of pharmaceutical products and related services. As a global biopharmaceutical company, AbbVie develops and manufactures a wide range of prescription drugs, including both branded and generic medications.

The company's pharmaceutical portfolio covers various therapeutic areas, including immunology, oncology, neuroscience, virology, and gastroenterology. Some of AbbVie's well-known drugs include Humira, Imbruvica, Mavyret, and Skyrizi, which are used to treat conditions such as rheumatoid arthritis, cancer, hepatitis C, and psoriasis, respectively.

In addition to the sale of prescription medications, AbbVie also offers services related to patient support programs, disease education, and healthcare provider training. These services aim to enhance patient outcomes and ensure proper utilization of AbbVie's products.

Collaborations and partnerships

AbbVie Inc. actively engages in collaborations and partnerships with other pharmaceutical companies, academic institutions, and research organizations. These collaborations often involve joint research and development efforts to discover and develop new drugs or expand the applications of existing ones.

Through partnerships, AbbVie can access external expertise, resources, and technologies, mitigating the risks and costs associated with drug development. Collaborations also allow AbbVie to tap into new markets and leverage the strengths and capabilities of its partners.

Licensing and royalty agreements

Another source of revenue for AbbVie is licensing and royalty agreements. The company licenses its technologies, patents, and drug formulations to other pharmaceutical companies, granting them the right to manufacture and sell AbbVie-developed drugs in specific regions or markets.

In return, AbbVie receives licensing fees and royalties based on the sales of these licensed products. This strategy enables the company to monetize its intellectual property and expand the reach of its drugs beyond its own commercial capabilities.

International operations

AbbVie Inc. operates globally, with a significant portion of its revenue derived from international markets. The company has a strong presence in North America, Europe, Latin America, the Asia-Pacific region, and the Middle East.

Through its international operations, AbbVie markets and sells its pharmaceutical products to a diverse range of customers, including hospitals, clinics, pharmacies, and wholesalers. The company's global footprint allows it to capitalize on the growing demand for healthcare products and services, especially in emerging markets.

Conclusion

In conclusion, AbbVie Inc. generates its revenue through various channels. The primary source is the sale of pharmaceutical products and related services across different therapeutic areas. Collaborations and partnerships with other organizations contribute to the development of new drugs and the expansion of AbbVie's market presence. Licensing and royalty agreements enable the company to monetize its intellectual property, while international operations extend its reach and tap into diverse markets. Overall, AbbVie's multifaceted approach to generating revenue ensures a steady income stream and positions the company as a leader in the biopharmaceutical industry.

AbbVie Inc. Business Model Canvas Explained

What is a Business Model Canvas?

A Business Model Canvas is a strategic management and entrepreneurial tool that provides a visual representation of a company's business model. It helps to outline the key components and relationships that drive the organization's value proposition, customer segments, revenue streams, cost structure, and more. The canvas is divided into nine building blocks, each representing a critical aspect of the business.

AbbVie Inc.'s Value Proposition

AbbVie Inc. is a global pharmaceutical company that focuses on discovering, developing, and delivering advanced therapies to treat serious diseases. Their primary value proposition lies in their commitment to providing innovative solutions that improve patients' lives and address unmet medical needs. Through extensive research and development, AbbVie aims to develop breakthrough drugs and therapies that offer better outcomes and quality of life for patients.

Customer Segments

AbbVie serves a diverse range of customer segments within the healthcare industry. Their main focus is on patients suffering from chronic and complex diseases such as rheumatoid arthritis, cancer, hepatitis C, multiple sclerosis, and more. Additionally, AbbVie works closely with healthcare professionals, hospitals, clinics, and pharmacies to ensure their products reach the intended patients effectively.

Key Partnerships

AbbVie recognizes the importance of strategic partnerships to drive innovation and expand their reach. They collaborate with academic institutions, research organizations, and other pharmaceutical companies to leverage collective expertise and resources for drug discovery and development. These partnerships enable AbbVie to access new technologies, explore novel therapeutic approaches, and accelerate the delivery of life-changing treatments to patients worldwide.

Key Activities

Research and development form the core of AbbVie's key activities. They invest significantly in discovering and developing new drugs, optimizing existing therapies, and conducting clinical trials to ensure safety and efficacy. Additionally, AbbVie focuses on manufacturing, marketing, and sales activities to ensure their products are accessible to healthcare providers and patients globally. Ongoing monitoring and post-market surveillance are also crucial activities to ensure the safety and effectiveness of their drugs.

Revenue Streams

AbbVie generates revenue primarily through the sale of pharmaceutical products. They offer a diverse portfolio of prescription drugs, including both patented and generic medications. The revenue streams are fueled by long-term partnerships with healthcare providers, insurance companies, and government agencies that cover the cost of medications for patients. Additionally, AbbVie also generates revenue through licensing and collaboration agreements with other pharmaceutical companies.

Cost Structure

As a pharmaceutical company, AbbVie incurs significant costs related to research and development, clinical trials, regulatory compliance, and manufacturing. These costs are necessary to ensure the safety, efficacy, and quality of their products. Additionally, marketing and sales expenses play a crucial role in promoting their therapies to healthcare professionals and raising awareness among patients. AbbVie also invests in talent acquisition and retention to maintain a highly skilled workforce that drives innovation and growth.

In conclusion, AbbVie Inc.'s Business Model Canvas demonstrates their commitment to innovation, patient-centricity, and partnerships. By focusing on developing breakthrough therapies, serving diverse customer segments, and maintaining strategic collaborations, AbbVie continues to make a significant impact in the pharmaceutical industry and improve patients' lives worldwide.

Which companies are the competitors of AbbVie Inc.?

Introduction

When it comes to the pharmaceutical industry, competition is fierce. Companies constantly strive to develop innovative drugs and therapies, aiming to capture a larger share of the market. AbbVie Inc., a renowned biopharmaceutical company, is no exception. In this section, we will delve into the competitors of AbbVie Inc. and explore the companies that pose a challenge to their success in the industry.

Competitors of AbbVie Inc.

1. Johnson & Johnson

One of the main competitors of AbbVie Inc. is Johnson & Johnson, a global healthcare conglomerate with a significant presence in the pharmaceutical sector. Johnson & Johnson operates a comprehensive range of businesses, including pharmaceuticals, medical devices, and consumer health products. With a diverse portfolio, Johnson & Johnson has the capability to compete in multiple therapeutic areas, often overlapping with AbbVie's offerings. Notable products from Johnson & Johnson's pharmaceutical division include Remicade, Stelara, and Zytiga, which compete with AbbVie's Humira and Imbruvica.

2. Pfizer Inc.

Pfizer Inc., another major player in the pharmaceutical industry, also poses a strong competition to AbbVie Inc. Known for its extensive research and development efforts, Pfizer has established itself as a global leader in various therapeutic areas. The company's diverse portfolio includes blockbuster drugs like Lipitor, Celebrex, and Viagra, among others. Pfizer's competitive edge lies in its ability to innovate and bring groundbreaking drugs to market, which directly challenges AbbVie's pursuit of market dominance.

3. Merck & Co., Inc.

Merck & Co., Inc. is a multinational pharmaceutical company with a rich history of scientific breakthroughs and medical advancements. Known for its strong focus on research and development, Merck has successfully developed numerous blockbuster drugs, such as Keytruda, Januvia, and Gardasil. These medications compete with AbbVie's offerings, creating a significant rivalry between the two companies. Merck's commitment to therapeutic innovation and its global presence make it a formidable competitor for AbbVie.

4. Bristol Myers Squibb Company

Bristol Myers Squibb Company is a global biopharmaceutical company that specializes in discovering, developing, and delivering innovative medicines. With a diversified portfolio covering various therapeutic areas, Bristol Myers Squibb competes with AbbVie in several segments. Notable drugs from Bristol Myers Squibb include Opdivo, Eliquis, and Revlimid, which challenge AbbVie's position in the market. The company's strong research capabilities and strategic partnerships make it a significant competitor for AbbVie Inc.

5. Novartis AG

Novartis AG, a Swiss multinational pharmaceutical company, is another key competitor of AbbVie Inc. With a focus on innovative research and development, Novartis has created a strong presence in the global pharmaceutical market. The company's diverse portfolio encompasses therapeutic areas such as oncology, cardiology, and ophthalmology. Notable drugs from Novartis include Gilenya, Cosentyx, and Tasigna, which compete with AbbVie's offerings. Novartis' commitment to advancing healthcare and its global reach make it a formidable rival for AbbVie.

Conclusion

AbbVie Inc. faces tough competition from several major players in the pharmaceutical industry. The likes of Johnson & Johnson, Pfizer Inc., Merck & Co., Bristol Myers Squibb, and Novartis AG pose significant challenges to AbbVie's market dominance. As the industry continues to evolve, competition remains a driving force behind the development of innovative drugs and therapies, ultimately benefiting patients worldwide.

AbbVie Inc. SWOT Analysis

Strengths

One of AbbVie Inc.'s main strengths lies in its strong portfolio of patent-protected pharmaceutical products. The company has successfully developed and marketed several blockbuster drugs, such as Humira, Imbruvica, and Venclexta, which have generated substantial revenue and established AbbVie as a key player in the pharmaceutical industry.

Another significant strength of AbbVie is its robust research and development (R&D) capabilities. The company invests heavily in R&D activities to discover and develop innovative therapies for various medical conditions. This commitment to innovation has enabled AbbVie to continuously expand its product pipeline and maintain a competitive edge in the market.

Additionally, AbbVie benefits from a strong global presence. The company operates in more than 170 countries worldwide, allowing it to tap into diverse markets and reach a wide range of customers. This global footprint provides AbbVie with significant opportunities for growth and reduces its reliance on any single market.

Weaknesses

Despite its strengths, AbbVie Inc. also faces certain weaknesses that could impede its growth potential. One key weakness is its heavy reliance on a few key products, particularly Humira. Humira accounts for a significant portion of AbbVie's revenue, making the company vulnerable to potential patent expirations or generic competition. Any decline in Humira's sales could have a substantial impact on AbbVie's financial performance.

Moreover, AbbVie has faced criticism and legal challenges related to its pricing practices. The high prices of some of its drugs have attracted scrutiny and raised concerns about affordability and access to essential medications. This negative perception surrounding pricing practices could potentially damage AbbVie's reputation and lead to regulatory or public relations challenges.

Opportunities

AbbVie Inc. has several opportunities to capitalize on in the pharmaceutical industry. One notable opportunity lies in the expansion of its product portfolio through strategic acquisitions and partnerships. By acquiring or collaborating with innovative biotech companies, AbbVie can gain access to new technologies and therapies, diversify its product offerings, and strengthen its competitive position in the market.

Furthermore, the aging population and increasing prevalence of chronic diseases present a significant opportunity for AbbVie. As the demand for healthcare services rises, there is a growing need for effective treatments and therapies. AbbVie can leverage its R&D capabilities to develop novel solutions that address unmet medical needs and capture a larger share of the market.

Threats

AbbVie Inc. faces various threats that could pose challenges to its business operations. Firstly, the intensifying competition in the pharmaceutical industry is a significant threat. The sector is characterized by the presence of numerous established players and emerging biotech companies, all vying for market share. AbbVie must continuously innovate and differentiate its products to stay ahead of competitors.

Moreover, regulatory changes and healthcare reforms can pose threats to AbbVie's operations. Changes in pricing policies, reimbursement systems, or intellectual property regulations could impact the company's profitability and market access. AbbVie must closely monitor and adapt to any regulatory developments to mitigate potential risks.

Lastly, the emergence of biosimilars, which are highly similar versions of biologic drugs, poses a threat to AbbVie. As patents for some of its key products expire, biosimilar competitors may enter the market, leading to increased pricing pressure and market share erosion. AbbVie needs to develop strategies to defend its market position and protect its revenue streams.

Key Takeaways

• AbbVie Inc. is primarily owned by institutional investors, with the largest shareholders being The Vanguard Group and BlackRock.
• The mission statement of AbbVie Inc. is to discover and deliver innovative medicines that solve serious health issues and have a remarkable impact on people's lives.
• AbbVie Inc. generates revenue through the sale of pharmaceutical products and the licensing of intellectual property.
• AbbVie Inc.'s business model canvas includes key elements such as value proposition, customer segments, channels, customer relationships, revenue streams, key resources, key activities, and key partnerships.
• Key competitors of AbbVie Inc. include pharmaceutical companies such as Johnson & Johnson, Pfizer, Merck, and Novartis.
• In terms of SWOT analysis, AbbVie Inc. has strengths in its strong product portfolio and global presence, weaknesses in its dependence on a few key products, opportunities in the growing healthcare market and expansion into emerging markets, and threats from intense competition and regulatory challenges.

Conclusion

In conclusion, AbbVie Inc. is an American pharmaceutical company that focuses on research, development, and commercialization of innovative drugs. The ownership of AbbVie Inc. is primarily held by institutional investors, with Vanguard Group and BlackRock being the largest shareholders.

The mission statement of AbbVie Inc. is to discover and deliver innovative medicines that solve serious health issues and have a remarkable impact on people's lives. They strive to improve patient outcomes and provide value to their stakeholders through their commitment to science, expertise, and collaboration.

AbbVie Inc. generates its revenue through the sale of prescription drugs, primarily in the areas of immunology, oncology, virology, neuroscience, and women's health. Their business model is centered around research and development, strategic partnerships, and commercialization of their products.

Analyzing AbbVie Inc.'s business model canvas, we can see that they have a strong focus on key activities such as research and development, manufacturing, marketing, and sales. They also maintain strategic partnerships and collaborations which enable them to leverage their expertise and expand their product offerings.

When it comes to competition, AbbVie Inc. faces significant competition from other pharmaceutical companies operating in similar therapeutic areas. Key competitors include companies like Johnson & Johnson, Pfizer, Merck & Co., and Bristol-Myers Squibb. This competitive landscape drives AbbVie Inc. to continuously innovate and differentiate themselves in order to maintain their market position.

Conducting a SWOT analysis, we can identify AbbVie Inc.'s strengths such as a robust product portfolio, strong research and development capabilities, and strategic partnerships. They also face weaknesses like the patent expiration of some of their key drugs. Opportunities lie in expanding into emerging markets and developing breakthrough therapies. However, AbbVie Inc. is not immune to threats such as regulatory uncertainties and pricing pressures in the pharmaceutical industry.

Overall, AbbVie Inc. is a prominent player in the pharmaceutical industry, driven by their mission to improve patients' lives. With a solid business model, strategic partnerships, and a focus on innovation, AbbVie Inc. continues to navigate the competitive landscape and make significant contributions to the healthcare sector.

FAQs

What are the weaknesses of AbbVie?

There are several weaknesses of AbbVie that can be considered:

1. Dependence on Humira: AbbVie heavily relies on its blockbuster drug, Humira, for a significant portion of its revenue. Humira accounts for more than half of the company's total sales. This heavy reliance on a single drug makes AbbVie vulnerable to potential competition or patent expirations in the future.

2. Patent expirations: Like other pharmaceutical companies, AbbVie faces the risk of patent expirations. The patents protecting some of its key drugs, including Humira, have already expired or are set to expire in the coming years. This exposes the company to potential generic competition, leading to a decline in sales and profitability.

3. Pipeline risks: AbbVie's success largely depends on its ability to bring new drugs to market. While the company has a robust pipeline, there is always the risk of clinical trial failures or regulatory hurdles, which can lead to significant setbacks and delays in launching new products.

4. Pricing and reimbursement pressures: The pharmaceutical industry is under constant scrutiny for high drug prices. AbbVie, like other companies, faces challenges related to pricing and reimbursement negotiations with governments and payers, which can impact its profitability and market access.

5. Competition: AbbVie operates in a highly competitive industry, facing competition from both established pharmaceutical companies and emerging biotech firms. The company needs to continuously innovate and differentiate itself to stay ahead of its competitors.

6. Litigation risks: As a pharmaceutical company, AbbVie is exposed to legal and litigation risks. It has faced lawsuits related to its drugs, including allegations of misleading marketing practices and patent disputes. These legal challenges can be costly and damaging to the company's reputation.

7. Regulatory environment: The pharmaceutical industry operates in a heavily regulated environment, with stringent requirements for drug approvals and compliance. Changes in regulations or increased scrutiny from regulatory authorities can impact AbbVie's business operations and increase compliance costs.

It is important to note that while these weaknesses exist, AbbVie also has strengths and opportunities that can help mitigate these risks and challenges.

What is the AbbVie controversy?

The AbbVie controversy refers to the various controversies and legal issues surrounding the pharmaceutical company AbbVie Inc. Some of the major controversies include:

1. Patent Practices: AbbVie has faced criticism for its patent practices, particularly regarding its drug Humira, which is used to treat autoimmune diseases. Critics argue that AbbVie has engaged in "patent thicketing," where it filed numerous patents on Humira to extend its market exclusivity and prevent competition from generic manufacturers. This has led to high drug prices and limited access to affordable alternatives.

2. Anti-Competitive Practices: AbbVie has been accused of engaging in anti-competitive practices to maintain its market dominance. In 2018, the European Commission fined AbbVie €366 million for striking illegal deals to block the entry of generic versions of its drug, AndroGel, in the European market. Similar allegations have been made regarding Humira in other countries.

3. Allegations of Bribery: In 2019, AbbVie was accused of paying kickbacks to healthcare professionals in the UK to promote its drug Humira. The company faced investigations by the UK's National Health Service (NHS) and the Medicines and Healthcare products Regulatory Agency (MHRA).

4. Lawsuits and Settlements: AbbVie has been involved in numerous lawsuits related to its drugs. For example, the company faced lawsuits regarding the safety and side effects of its testosterone replacement therapy drug, AndroGel. AbbVie has also faced lawsuits related to its marketing practices and alleged inadequate warning labels for certain drugs.

These controversies and legal issues have led to increased scrutiny of AbbVie's business practices and have raised concerns about the pharmaceutical industry's influence on drug pricing and competition.

What is SWOT analysis in medicine?

SWOT analysis is a strategic planning tool used in various fields, including medicine, to evaluate the strengths, weaknesses, opportunities, and threats related to a specific situation, organization, or project. In the context of medicine, SWOT analysis helps healthcare professionals, hospitals, clinics, or healthcare systems to assess their current state and make informed decisions.

1. Strengths: These are the internal factors that contribute positively to the medical situation. It may include skilled healthcare professionals, state-of-the-art medical equipment, strong research capabilities, advanced technology, or a good reputation.

2. Weaknesses: These are the internal factors that hinder progress or pose challenges. It may include limited funding, shortage of healthcare professionals, outdated infrastructure, inefficient processes, or lack of resources.

3. Opportunities: These are external factors that can be leveraged to achieve better medical outcomes. It may include emerging technologies, collaborations with other healthcare organizations, new treatment methods, or favorable government policies.

4. Threats: These are external factors that may pose challenges or risks to the medical situation. It may include competition from other medical institutions, changes in regulations, economic factors, evolving patient expectations, or lack of public awareness.

By conducting a SWOT analysis, healthcare professionals and organizations can identify their strengths and weaknesses, capitalize on opportunities, and mitigate threats. It helps in strategic planning, decision-making, resource allocation, and improving overall healthcare delivery.

What is AbbVie's biggest drug?

As of 2021, AbbVie's biggest drug is Humira (adalimumab). Humira is used to treat various autoimmune diseases, including rheumatoid arthritis, psoriasis, Crohn's disease, and ulcerative colitis. It has been one of the top-selling drugs globally for several years, generating significant revenue for AbbVie.