AbbVie's Gonzalez Calls Break-Up Proposal Rational, But Premature

 
• By Joseph Haas
  
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CEO says the idea of forming one company around Humira and its earnings and another around the R&D pipeline holds merit but he wants to wait to see the outcome of US tax reform, which could address some of AbbVie's issues.

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Every AbbVie Inc. earnings call since its inception in 2013 has included a significant focus on the maturing autoimmune mega-blockbuster Humira (adalimumab), far and away its top-seller, and what the firm would do next. During its first quarter earnings call April 27, Chairman and CEO Richard Gonzalez both acknowledged and swatted away a suggestion that the company split into two – one for the commercial Humira business and another for its R&D pipeline.

Itself a spinout of Abbott Laboratories Inc., AbbVie was built around the pharma business – with Humira and a...

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