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AbbVie
42°20′12″N 87°50′04″W / 42.33679°N 87.83432°W
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
The company is ranked sixth on the list of largest biomedical companies by revenue. It is ranked 77th on the Fortune 500 and 108th on the Forbes Global 2000.
The name "AbbVie" is derived from a combination of "Abbott", the name of its former parent company, with "vie", intended as a reference to a Latin root meaning 'life'.
AbbVie was formed in 2012 as a corporate spin-off from Abbott Laboratories. It became a public company in January 2013.
In January 2014, the company acquired ImmuVen, a startup incubated at the University of Illinois Urbana-Champaign and focused on biotherapeutics to treat cancer, infectious disease, and autoimmune disorders.
In September 2014, AbbVie and Infinity Pharmaceuticals entered into a collaboration to develop and commercialize duvelisib, Infinity's PI3K inhibitor for the treatment of patients with cancer. On the same day, AbbVie and Calico entered into a R&D collaboration intended to discover, develop and bring to market new therapies for patients with aging-associated diseasess including neurodegeneration and cancer. California Life Company, operating as Calico, is an Alphabet Inc. subsidiary focused on aging and age-related diseases, and led by former Genentech chairman and CEO of Arthur D. Levinson and former Genentech EVP and chief medical officer Hal V. Barron (who subsequently left the company).
In October 2014, AbbVie ended its efforts to acquire Shire, which would have been one of the largest M&A deals of that year and one of the largest tax inversions in history, due to changes in the US tax code by the US Treasury; AbbVie had to pay a $1.6 billion breakup fee.
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AbbVie
42°20′12″N 87°50′04″W / 42.33679°N 87.83432°W
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
The company is ranked sixth on the list of largest biomedical companies by revenue. It is ranked 77th on the Fortune 500 and 108th on the Forbes Global 2000.
The name "AbbVie" is derived from a combination of "Abbott", the name of its former parent company, with "vie", intended as a reference to a Latin root meaning 'life'.
AbbVie was formed in 2012 as a corporate spin-off from Abbott Laboratories. It became a public company in January 2013.
In January 2014, the company acquired ImmuVen, a startup incubated at the University of Illinois Urbana-Champaign and focused on biotherapeutics to treat cancer, infectious disease, and autoimmune disorders.
In September 2014, AbbVie and Infinity Pharmaceuticals entered into a collaboration to develop and commercialize duvelisib, Infinity's PI3K inhibitor for the treatment of patients with cancer. On the same day, AbbVie and Calico entered into a R&D collaboration intended to discover, develop and bring to market new therapies for patients with aging-associated diseasess including neurodegeneration and cancer. California Life Company, operating as Calico, is an Alphabet Inc. subsidiary focused on aging and age-related diseases, and led by former Genentech chairman and CEO of Arthur D. Levinson and former Genentech EVP and chief medical officer Hal V. Barron (who subsequently left the company).
In October 2014, AbbVie ended its efforts to acquire Shire, which would have been one of the largest M&A deals of that year and one of the largest tax inversions in history, due to changes in the US tax code by the US Treasury; AbbVie had to pay a $1.6 billion breakup fee.