Abbott spins-off pharmaceutical division into AbbVie
Abbott Laboratories has been cleft in twain, retaining it medical devices, diagnostics and nutritionals business under its old moniker and with a new company, AbbVie, handling the pharmaceutical side of the business.
The new company was officially ringed in on January 2 at the New York Stock Exchange and will employ around 21,000 people worldwide, including around 200 in Australia.
AbbVie retains Abbott’s profitable Humira (adalimumab), used to treat rheumatoid arthritis, and a portfolio of other drugs including Lucrin (leuprorelin acetate), Kaletra (lopinavir/ritonavir), Duodopa (levodopa/carbidopa) and Sevorane (sevoflurane).
The company currently has over 20 mid- to late-stage clinical programmes, several of which are being investigated in Australia, with nearly 5,500 patients enrolled in trials at around 350 sites in Australia and New Zealand.
“This is an exciting day for AbbVie and our nearly 200 colleagues in Australia. We look forward to working together with patients and healthcare partners to meet the healthcare needs in Australia,” said Kirsten O’Doherty, General Manager of AbbVie Australia and New Zealand.
A number of products in the AbbVie stable are due to come off patent over the next two years, with new products expected to come on to the market around 2015.
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