2021 Revenues ($USD) : $56,197,000,000
2021 R&D spend : $7,084,000,000
2021 Number of Employees : 50,000
Fiscal Year End : 12/31/2021
Leader : CEO Richard Gonzalez

Since Abbott Laboratories spun out AbbVie in 2013, the North Chicago–based firm has cemented its reputation as a pharma heavyweight. The company’s 2021 revenues of $56.2 billion were considerably higher than Abbott’s $43.1 billion. AbbVie saw double-digit revenue growth in its immunology, aesthetics and neuroscience businesses. The company’s megablockbuster Humira is no longer the best-selling drug on the market, given the demand for COVID-19 vaccines. In 2021, Humira sales were $20.69 billion — roughly even with the biologic’s $20.39 billion in sales a year earlier. Humira is facing a growing amount of competition from biosimilars. In March, AbbVie settled a suit that will allow an eighth Humira biosimilar to enter the market. AbbVie is hoping that sales of Skyrizi and Rinvoq will diversify its portfolio. In 2021, Skyrizi and Rinvoq brought in $4.6 billion in combined sales. The company will commercialize the two drugs across all of Humira's major indications, in addition to atopic dermatitis. In 2021, sales of Skyrizi were higher than Humira sales in the U.S. psoriasis market for biologic products. AbbVie hasn’t managed to capitalize on the COVID-19 pandemic. —BB