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AbbVie SWOT & PESTLE Analysis

ID : 52538953| Oct 2019| 15 pages

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. 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 30,000 employees as of January 2019, which includes scientists, manufacturing experts, and researchers. 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. 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$32,733 million - FY ended Dec 31, 2018
US$28,216 million - FY ended Dec 31, 2017

Competitive Analysis of AbbVie

SWOT
PESTLE
The SWOT analysis of Abbvie is presented below:
Strengths
Weaknesses
1. Strong manufacturing capabilities
2. Diversified products and innovation
3. Strong supplier relations and reliability
4. Sustainable supply chain
5. Strong technological capabilities
1. Public relations issues
2. High reliance on revenues from Humira
Opportunities
Threats
1. Remarkable growth potential
2. Benefits from new tax reforms
3. Emerging pharmaceutical market
1. Threats from biosimilars
2. Competition in the pharma segment
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Detailed SWOT Analysis of AbbVie

 

Strength

1. Strong manufacturing capabilities: 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. This is also AbbVie’s first venture into manufacturing in Asia and is expected to be up and running by the end of 2018. 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.

3. Strong supplier relations and reliability: AbbVie has a robust set of suppliers who share the same mission, vision and commitment to innovation and improve the health of patients across the world. AbbVie ensures that their suppliers meet the quality requirements by working closely with them. This is done by monitoring and helping the suppliers enhance their execution based on various clearly defined and stringent metrics. This ensures a learning experience of both AbbVie and its suppliers which they put to use subsequently. AbbVie conducts performance reviews and audits to make sure that the products supplied are of high quality and meet technical, safety and quality standards. All suppliers are stringently required to follow a ‘Supplier Code of Conduct’. Abbvie, by strategically implemented actions and proper assessments of the supply chain, is also able to ensure that customers always have a continuous supply of its products. They utilize various Supplier Risk Management techniques to sustain their business for both the stakeholders and themselves.

The remaining section of “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.

Major Brands :

  • Humira
  • Imbruvica
  • Venclexta
  • Zinbryta

Key Business Segments / Diversification :

AbbVie
Immunology Oncology Virology
Neuroscience
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in AbbVie Analysis Report

1. AbbVie J.P. Morgan Healthcare Conference 2019: https://investors.abbvie.com/static-files/63833f8e-738b-4ffa-b1ad-1e956816f9d1

2. AbbVie 2018 Annual Report: https://investors.abbvie.com/static-files/47b78f29-de86-46fd-ae82-83878c1a72f1

3. Pharmaceutical Regulation US Health- https://ushealthpolicygateway.com/vii-key-policy-issues-regulation-and-reform/l-health-care-regulation/pharmaceutical-regulation/

4. Abbvie Responsible Action Report 2017-https://www.AbbVie .com/content/dam/AbbVie -dotcom/uploads/PDFs/AbbVie ResponsibleAction-Report2017-digital.pdf

5. What Economic Conditions Affect the Pharmaceutical Industry in the US- https://bizfluent.com/list-6865506-economic-affect-pharmaceutical-industry-us-.html

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SWOT & PESTLE.com (2019). AbbVie SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/abbvie/ [Accessed 20 Nov, 2019].

In-text: (SWOT & PESTLE.com, 2019)

Copyrights and Disclaimer

Abbvie SWOT and PESTLE analysis has been conducted by Rajarshi Mondal and reviewed by senior analysts from Barakaat Consulting.

Copyright of Abbvie SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

AbbVie SWOT & PESTLE Analysis
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