Abbott completes separation of research-based pharmaceuticals business

Abbott Park, IL – Pharmaceutical company Abbott says it has completed the separation of its research-based pharmaceuticals business, which became AbbVie, a new independent biopharmaceutical company.

The company announced in October 2011 that it was separating into two independent companies, as its businesses evolved into two different investment identities. AbbVie is a research-based specialty biopharmaceuticals company with a portfolio of medicines in fields including immunology and virology. Abbott’s offerings include diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.

“We wish our colleagues at AbbVie continued success as they become part of a new, independent company that is already making a significant difference, focusing on highly specialized, market-leading therapies for some of the world’s most difficult-to-treat diseases,” said Miles D. White, chairman and chief executive officer, Abbott.