In the past 24 months, AbbVie has navigated significant challenges and opportunities, starting with the U.S. patent expiration of its blockbuster drug Humira in early 2023, which led to the entry of biosimilar competitors and a notable revenue decline for that product line. Despite this, the company reported strong growth in other areas, with its immunology drugs Skyrizi and Rinvoq achieving combined sales exceeding $10 billion in 2023, as highlighted in their annual financial report. In February 2024, AbbVie completed its $10.1 billion acquisition of ImmunoGen, enhancing its oncology portfolio with antibody-drug conjugate technology, according to the official announcement. Additionally, in July 2024, AbbVie raised its full-year profit forecast following better-than-expected second-quarter earnings, driven by robust demand for its non-Humira products, as detailed in their Q2 earnings release. This period also saw regulatory approvals, such as the FDA's nod for expanded uses of Rinvoq in treating inflammatory conditions.

AbbVie, spun off from Abbott Laboratories in 2013, is a global biopharmaceutical company headquartered in North Chicago, Illinois, with a focus on developing innovative therapies in immunology, oncology, neuroscience, and eye care. Currently, the company positions itself as a leader in addressing complex diseases, boasting a diverse portfolio that includes top-selling drugs like Skyrizi for psoriasis and Vraylar for bipolar disorder. With over 50,000 employees worldwide, AbbVie invests heavily in research and development, spending approximately $6.5 billion annually to fuel its pipeline of more than 90 clinical programs. This strategic emphasis on innovation has helped AbbVie maintain a strong market presence, ranking among the top 10 pharmaceutical companies by revenue, even as it transitions from reliance on legacy products.

AbbVie's tech department leverages advanced software and IT applications, including AI-driven platforms for drug discovery and predictive analytics to accelerate clinical trials, giving it a competitive edge in efficiently identifying promising compounds. The company collaborates with tech firms to integrate machine learning in genomics and personalized medicine, enhancing its R&D capabilities in a biotech industry that's rapidly evolving with digital health innovations. This positions AbbVie well for future growth, as the pharmaceutical sector is highly innovative, with increasing adoption of AI, big data, and cloud computing to streamline operations and reduce development costs. Reputation-wise, AbbVie's tech roles are known for solid career development opportunities, including mentorship programs and cross-functional projects, with average salaries for software engineers around $120,000-$150,000, competitive within the industry according to industry salary data. Young professionals often praise the company's investment in emerging tech like digital therapeutics, fostering an environment for cutting-edge work.

AbbVie faces weaknesses such as heavy dependence on a few key drugs, with the ongoing erosion of Humira sales due to biosimilars posing a risk to revenue stability. Opportunities abound in expanding its oncology and neuroscience pipelines, particularly through recent acquisitions that could tap into growing markets for targeted therapies. Threats include intense competition from rivals like Pfizer and Eli Lilly, who are advancing similar immunology and cancer treatments, potentially capturing market share. Main challenges involve navigating regulatory hurdles and pricing pressures in the U.S. healthcare system, which could limit profitability. Additionally, global supply chain disruptions and intellectual property disputes remain limitations that AbbVie must address to sustain growth.