COMPANY PROFILE -AbbVie
Business Sector :Bio-pharmaceutical
Operating Geography :USA, North America, Global
About AbbVie :
AbbVie is a bio-pharmaceutical multinational founded in 2013 as a spin-off from Abbot, headquartered in North Chicago, Illinois. It manufactures a wide range of pharmaceutical products which are mainly instrumental in the treatment of diseases like HIV, HCV, Parkinson’s disease, thyroid diseases, cancer etc. It has a worldwide presence consisting of nearly 50,000 employees as of early 2023, which includes scientists, manufacturing experts, and researchers in 70 countries. The company has taken upon itself the onus of curing seemingly ‘incurable’ diseases so that it ultimately creates a positive impact on the lives of the patients. Organizations like ‘World’s Best Workplaces’, ‘ROBECOSAM’, ‘FTSE4Good’ and ‘Fortune 100 Best Companies to Work for’ have recognized AbbVie for their monumental effort to create a healthier world and care for stakeholders. In March 2022, AbbVie successfully acquired Syndesi Therapeutics SA, which will aid in the expansion of AbbVie's portfolio of neurological products.
The USP of AbbVie lies in its innovative capabilities which led to the development of the drug Humira and made the company a global pharma giant. AbbVie's mission as per their website is to "Create an innovation-driven, patient-focused specialty biopharmaceutical company capable of achieving sustainable top-tier performance through outstanding execution and a consistent stream of innovative new medicines."
AbbVie Revenue :
US $58 billion - FY ended December 31, 2022
US $56.2 billion - FY ended December 31, 2021
Competitive Analysis of AbbVie
The SWOT analysis of Abbvie is presented below in a matrix followed by detailed analysis
Strengths | Weaknesses |
1. Strong manufacturing capabilities with state-of-art facilities
2. Diversified products and innovation
3. Strong supplier relations and reliability
4. Strong focus on sustainability through ‘Sustainable supply chain’
5. Strong and robust technological capabilities
6. Robust pipeline of growth and development
| 1. Public relations issues regarding products
2. High reliance on revenues from top-selling monoclonal antibody, Humira
3. Weak corporate governance leading to concerns amongst investors
|
Opportunities | Threats |
1. Remarkable growth potential in the next decade
2. Growing pharmaceutical market in the emerging economies
3. Covid 19 pandemic triggered improved antiviral understanding
4. Strategic mergers and acquisitions to promote growth
| 1. Increasing risks from biosimilars
2. Strong competition in the pharma segment
3. Government regulations regarding Medicare/Medicaid payments
4. Declining sales and profits of Humira
|
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Detailed SWOT Analysis of AbbVie
Strength
1. Strong manufacturing capabilities with state-of-art facilities: AbbVie has 10 state-of-the-art manufacturing facilities throughout Europe and North America. They also provide various contract production facilities throughout the globe. Their manufacturing capabilities include Biology, Potent drugs, HM Extrusion, Prefilling of syringes, Fermentation, etc. as well as custom manufacturing services. Moreover, AbbVie has a highly experienced and skilled workforce who has undergone various types of trainings which has increased their motivation and focus to excel at their work. With the opening of its first phase of global manufacturing facility at Singapore, AbbVie wishes to expand its horizon of operations for biologics and small molecule manufacturing – also known as the API facility. The company’s oncology and women’s health areas will be greatly benefitted through this modern facility. With a skilled pool of talent, AbbVie wishes to leverage its workforce’s technical expertise to provide value to their customers and stakeholders worldwide. Abbvie has partnerships with biotech, universities, nonprofits, and government organizations and it uses its 22 State-of-the-art R&D and manufacturing centers to help further the development of science.
2. Diversified products and innovation: Ever since its inception, AbbVie has been aiming at developing a lot of diverse products by leveraging its skilled and experienced workforce through innovation. AbbVie makes sure that its medicines perform well not only in their laboratories but also in every sphere of one’s life so that patients are benefitted overall. The company wishes to eliminate various chronic and hard to cure diseases like Alzheimer’s disease, various types of cancer and other immune-mediated conditions. Humira, which is Abbvie’s most important product, is difficult to develop, as it is a biologic. This means that it is not made of synthetic chemicals, but rather from living cells. Moreover, biosimilars, which are copies of biologic drugs, are also harder to recreate than normal generic drugs. These factors along with an aggressive patent strategy have made it possible for AbbVie to fend of its competitors. AbbVie is also focusing on areas to produce path-breaking discoveries in medicine which are used in the treatments of immunology, oncology, neuroscience, virology and general medicine. They have also a number of products in their pipeline like investigational drugs which are currently under study and not yet approved by the FDA. Their approved drugs are also under study to be used in newer applications for which they have yet not been approved.
The remaining section under “Strength” is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE/PESTEL analysis of Abbvie is presented below in a nutshell followed by detailed analysis
Political | Economical |
1. Customs trade partnership against Terrorism
2. Lobbying against efforts at price controls
| 1. Risk of unemployed, uninsured and underinsured people
2. Government funding of pharmaceutical R&D
|
Social | Technological |
1. Patient criticism for high drug prices
2. Targeting local needs and establishing an overarching access strategy
| 1. Technological development by AbbVie competitors
2. Leveraging innovative technologies and platforms
|
Legal | Environmental |
1. Increasing regulations on pharmaceutical companies
2. Data protection and employee privacy
| 1. Initiatives to combat climate change |
On purchase the AbbVie SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
Detailed Pestle Analysis of AbbVie
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. Patient criticism for high drug prices: Humira, a wonder drug for people suffering from rheumatoid arthritis and colitis psoriasis has now become one of the top-selling prescription drugs globally in spite of its high pricing. This anti-inflammatory drug is dispensed using an injectable pen and has seen drastic price hikes since 2012 according to SSR Health. From about $19,000 a year per patient after rebates, it had risen to almost $38,000 in 2018 which further scaled 7.4% effective Jan 1st, 2020 over expenditure in previous fiscal. Abbvie has faced a lot of backlashes related to this as patients are calling out the company on not only being unfair but also of being morally wrong. This is forcing patients into skipping doses and rationing on other expenses. Though AbbVie argues that it needs to recover its high R&D costs, this puts the company is a negative social light in the minds of consumers.
The remaining section under “Social” is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- Humira
- Imbruvica
- Venclexta
- Zinbryta
Key Business Segments / Diversification :
AbbVie
Immunology Oncology Virology
Neuroscience
On purchase the AbbVie SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in AbbVie SWOT & PESTLE Analysis Report
1. Annual Report - https://investors.abbvie.com/static-files/91cf9d6a-8e6f-4059-9575-eda83b7e4623
2. AbbVie and iSTAR Medical Announce Strategic Alliance for the Treatment of Glaucoma - https://news.abbvie.com/news/press-releases/abbvie-and-istar-medical-announce-strategic-alliance-for-treatment-glaucoma.htm
3. AbbVie and Scripps Research Announce Collaboration to Develop Antiviral Treatments for COVID-19 - https://news.abbvie.com/news/press-releases/abbvie-and-scripps-research-announce-collaboration-to-develop-antiviral-treatments-for-covid-19.htm
4. AbbVie and Gedeon Richter Announce Collaboration in Neuropsychiatric Diseases - https://news.abbvie.com/news/press-releases/abbvie-and-gedeon-richter-announce-collaboration-in-neuropsychiatric-diseases.htm
5. AbbVie Acquires Syndesi Therapeutics, Strengthening Neuroscience Portfolio - https://news.abbvie.com/news/press-releases/abbvie-acquires-syndesi-therapeutics-strengthening-neuroscience-portfolio.htm
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Abbvie SWOT and PESTLE analysis has been conducted by Rajarshi Mondal and reviewed by senior analysts from Barakaat Consulting.
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