Company Directory - AbbVie Inc.
Company Details - AbbVie Inc.
AbbVie Inc.
WebsiteNorth Chicago, United States
ISIN: US00287Y1091
AbbVie is a research-based biopharmaceutical company with a strong focus on immunology and oncology. The company was spun off from Abbott Laboratories in early 2013 and expanded its portfolio through the strategic acquisition of Allergan in 2020.
CCI Score
CCI Score: AbbVie Inc.
-31.53
0.01%
Latest Event
Senate Investigation Reveals Big Pharma Tax Dodging Involving AbbVie
A Senate investigation into Big Pharma's tax avoidance practices has implicated AbbVie among other major drug companies, highlighting unethical strategies that exploit loopholes and contribute to economic inequality and political favoritism.
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TOADIE
AbbVie Inc. is currently rated as a Toadie.
Latest Events
- MAR272025
A Senate investigation into Big Pharma's tax avoidance practices has implicated AbbVie among other major drug companies, highlighting unethical strategies that exploit loopholes and contribute to economic inequality and political favoritism.
- DEC242024
Pharma department reprimands AbbVie Healthcare, a subsidiary of AbbVie Inc., for allegedly spending nearly Rs 1.91 crore on extravagant pleasure trips. This incident raises concerns about the company's adherence to ethical business practices.
-50
Business Practices and Ethical Responsibility
March 25
The investigation into AbbVie Healthcare's extravagant spending on pleasure trips is indicative of unethical marketing practices. Such behavior undermines corporate accountability and ethical responsibility, reflecting a disregard for fair business practices and potentially contributing to systemic issues in corporate governance.
- DEC162024
Shareholders of AbbVie urged the board to implement a comprehensive human rights due diligence process after concerns emerged regarding the company’s lack of structured assessment of its human rights impacts and allegations of overcharging and anticompetitive pricing practices.
-60
Business Practices and Ethical Responsibility
March 25
AbbVie promotes a commitment to human rights but has not established an effective human rights due diligence process. The failure to conduct a comprehensive Human Rights Impact Assessment, combined with issues such as overcharging for medications and anticompetitive practices, reflects a significant shortfall in ethical business practices and responsibility.
-40
Economic and Structural Influence
March 25
The allegations of overcharging and anticompetitive behavior suggest that AbbVie’s economic practices may undermine market fairness and negatively impact the affordability of essential medicines. These practices contribute to broader structural issues within the healthcare market, adversely affecting public accessibility to critical treatments.
- OCT242024
AbbVie has showcased a robust commitment to equity, equality, diversity, and inclusion, emphasizing a positive corporate culture that champions fair treatment and social justice. This internal focus on diversity and inclusion reflects an ethical business practice that counters systemic discrimination and supports marginalized groups.
- JUL172024
A press release reports that a lawsuit filed by the Pharmaceutical Accountability Foundation alleges that AbbVie abused its economic dominance in the Netherlands by excessively pricing its rheumatoid arthritis drug, Humira, resulting in up to €1.2 billion in overcharges and violating human rights by limiting access to vital healthcare.
-80
Business Practices and Ethical Responsibility
April 1
The lawsuit alleges that AbbVie exploited its dominant market position to charge exorbitant prices for Humira, thereby compromising patients’ access to essential medication and violating ethical business practices and human rights responsibilities. This conduct reflects a disregard for social responsibility and fair pricing.
-80
Economic and Structural Influence
April 1
The allegations indicate that AbbVie leveraged its economic dominance to secure excessive profits, which not only impacted the affordability of healthcare in the Netherlands but also contributed to broader structural inequality and undermined fair market practices.
- JUL172024
In July 2024, the Pharmaceutical Accountability Foundation (PAF) filed a lawsuit against AbbVie alleging that the company exploited its monopoly on Humira by overcharging the Dutch healthcare system, thereby violating human rights and abusing economic dominance to extract excessive profits.
-80
Business Practices and Ethical Responsibility
March 25
The lawsuit highlights AbbVie's deliberate pricing strategy for its key drug Humira, which reflects a pattern of unethical business practices. By overcharging the healthcare system and generating excessive profits at the expense of patient access and human rights, the company is implicated in practices that undermine ethical responsibility.
-70
Economic and Structural Influence
March 25
The allegations also point to an abuse of economic dominance, where AbbVie is accused of leveraging its market monopoly to impose exorbitant prices. This practice not only distorts fair economic practices but also has broader structural implications, straining public healthcare systems and disadvantaging society at large.
- MAY152024
The Pharmaceutical Accountability Foundation has brought a lawsuit against AbbVie, alleging that the company abused its dominant market position by overcharging the Dutch healthcare system by up to €1.2 billion for Humira. The case, which centers on accusations of unethical pricing, monopoly abuse, and human rights violations, was addressed at a procedural hearing in a Dutch court on May 15, 2024.
-70
Business Practices and Ethical Responsibility
April 1
The lawsuit alleges that AbbVie exploited its monopoly in the pharmaceutical market by setting exorbitant prices for Humira, leading to excessive profits and compromising access to essential medicine. This behavior clearly violates ethical business practices and human rights responsibilities, marking a significant negative impact under Business Practices and Ethical Responsibility.
-60
Economic and Structural Influence
April 1
The case also highlights AbbVie's structural influence in the market, where the alleged abuse of market dominance and strategic extension of monopoly privileges not only generated disproportionate profits but also distorted market dynamics and jeopardized public access to healthcare. This behavior receives a strongly negative evaluation under Economic and Structural Influence.
- JAN012024
In the 2024 cycle, AbbVie Inc reported over $2.2 million in political contributions and more than $4.5 million in lobbying expenditures. The data, released via OpenSecrets, also highlights significant revolving door practices with several lobbyists having prior government service. Such activities raise concerns about undue corporate influence on public policy and potential complicity in fostering an environment that may align with authoritarian practices.
-40
Political Contributions and Lobbying Efforts
March 25
AbbVie Inc's substantial political contributions and lobbying expenditures in the 2024 cycle indicate a significant engagement in political influence. The reported figures of $2,197,266 in contributions and $4,530,000 in lobbying, combined with revolving door practices, suggest that the company is potentially leveraging its financial power to shape political outcomes. This kind of corporate-political behavior can undermine democratic accountability and contribute to the strengthening of authoritarian influences.
- OCT012023
This event assesses AbbVie's political contributions as indicated by the American Democracy Scorecard. Although detailed data is unavailable because the site is undergoing maintenance, the mere existence of the tracker suggests that the company’s political spending is being scrutinized for alignment with democratic values.
+10
Political Contributions and Lobbying Efforts
March 25
The American Democracy Scorecard tracks AbbVie's political contributions, an activity relevant to the 'Political Contributions and Lobbying Efforts' category. While the service is currently under maintenance and lacks detailed data, its existence implies a level of political engagement that merits attention. Preliminary interpretation suggests that these contributions, while monitored, do not strongly support authoritarian agendas and therefore earn a modest positive score.
AbbVie Political Contributions Tracker - American Democracy Scorecard
- APR252023
On April 25, 2023, a nationwide class action lawsuit was filed alleging that AbbVie engaged in a fraudulent scheme to artificially inflate the price of its blockbuster drug, Humira, by 470% over the past two decades. The suit alleges that AbbVie exploited a secret pricing arrangement with pharmacy benefit managers (PBMs) to charge consumers exorbitant prices while offering lower undisclosed net prices to PBMs, and that executive bonuses were tied directly to Humira's net revenue.
-80
Business Practices and Ethical Responsibility
April 1
The lawsuit details a pattern of unethical business practices including fraud and anti-competitive pricing designed to maximize profits at the expense of consumers. AbbVie's alleged exploitation of pricing mechanisms not only undermines consumer protection laws but also prioritizes corporate profit over patient welfare, reflecting a disregard for ethical business practices.
- FEB212023
A Dutch public interest group filed a lawsuit alleging that AbbVie breached its duty to human rights by engaging in unfair and excessive pricing of its Humira drug, exploiting its monopoly to bolster sales at the expense of the Dutch healthcare system.
-60
Business Practices and Ethical Responsibility
April 1
The lawsuit claims that AbbVie manipulated its market dominance by maintaining high prices for Humira, which is seen as an unethical business practice that breaches duty to human rights and harms the public healthcare system. This reflects negatively on its commitment to ethical business practices and social responsibility.
Dutch group sues AbbVie for human rights violations stemming from Humira pricing
- FEB212023
A Dutch public interest group has filed a lawsuit claiming that AbbVie breached a duty to human rights by using unfair and excessive pricing for its Humira drug, thereby exploiting its monopoly to dominate the Dutch healthcare market.
-70
Business Practices and Ethical Responsibility
March 25
The lawsuit alleges that AbbVie engaged in unethical business practices by exploiting its monopoly on Humira to impose unfair and excessive pricing, which not only maximized profits but also breached its duty to human rights. This undermines trust and responsibility, affecting public welfare and contributing to broader authoritarian economic practices.
Dutch group sues AbbVie for human rights violations stemming from Humira pricing
-60
Economic and Structural Influence
March 25
AbbVie's pricing strategy, which leveraged its patent-protected monopoly to maintain high prices despite increased demand, demonstrates a concerning abuse of market power. This economic behavior not only exacerbates inequality within the healthcare system but also indirectly supports authoritarian structural dynamics by prioritizing profits over public health.
Dutch group sues AbbVie for human rights violations stemming from Humira pricing
- DEC152022AbbVie exits the lobby
55.38
AbbVie has decided to leave major pharmaceutical industry groups such as PhRMA, the Biotechnology Innovation Organization, and the Business Roundtable. This move is seen as a step towards reducing the company's reliance on traditional lobbying efforts that have historically supported policies favoring corporate interests at the expense of democratic accountability.
+70
Political Contributions and Lobbying Efforts
March 25
By exiting key industry groups such as PhRMA and the Business Roundtable, AbbVie is reducing its involvement in traditional pharmaceutical lobbying. This departure is significant from an anti-fascist standpoint as it potentially diminishes the direct financial and political influence that has often supported policies seen as undemocratic and favorable to corporate power. Although the exit may be partly strategic in response to regulatory shifts like the Inflation Reduction Act's drug-pricing provisions, it signals a positive shift away from complicity in practices that can bolster authoritarian norms.
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Corporate Financials
- Revenue
- 2022
- $58.80B
- Total Assets
- 2022
- $91.00B
- Operating Income
- 2022
- $20.30B
- Total Equity
- 2022
- $48.60B
Employees: 50,000
Industries
- 325411
- Medicinal and Botanical Manufacturing
- 325412
- Pharmaceutical Preparation Manufacturing
- 325413
- In-Vitro Diagnostic Substance Manufacturing
- 424210
- Drugs and Druggists' Sundries Merchant Wholesalers
- 541714
- Research and Development in Biotechnology (except Nanobiotechnology)