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Abbvie: A new company holding its own in the competitive world of pharma

Posted on 15 June 2014

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Abbvie is a global pharmaceutical company developing life saving products for a number of major diseases including immunology.

Famous for being the research company that split off from global pharmaceutical giant Abbott Laboratories, Abbvie has established itself successfully and after only two years of going alone has already positioned itself in the Top 15 pharmaceutical companies of the world.

Abbvie works in six key core therapeutic areas, these include: immunology, neuroscience, kidney disease, liver disease, oncology and women’s health. The focus area is perhaps immunology as the company has 8 clinical phase products in development, the company specifically targets rheumatoid arthritis, psoriasis, and Crohn’s disease.

Undoubtedly the youngest company that we have ever profiled, Abbvie hasn’t taken long to build up some impressive statistics; 25,000 people currently work together to bring the life-saving medications to the public, 15 primary research and manufacturing facilities are operated to deliver these treatments and over 170 countries are using the products developed at Abbvie to treat their ill patients.

Partnering is Priority

Abbvie believes its partners share a commitment to address the world’s greatest health needs, Abbvie currently partners with a wide spectrum of organisations from universities to clinical experts to government and advocacy groups.

When putting a partnership together Abbvie has two clear outcomes that it wishes to achieve; these are to deliver new important medications and to have an impact on people’s lives. After this the result is always beneficial, Abbvie has the right idea when it says that working together helps combine the best efforts, thinking and resources of two different companies, joining together to find the best solution for patients.

Abbvie has expressed a clear interest in looking for innovations, research tools and technologies in its 6 therapeutic focus areas, which break down into several other therapeutic areas.

Once an opportunity or proposal has been submitted to Abbvie, the company sets its licensing professionals to carry out a thorough partner evaluation process that involves screening the non-confidential material of the opportunity, internally assessing the opportunity with team members, carrying out strategic due diligence if the opportunity is a strategic fit. Integration planning and deal closure steps are careful carried out then to make sure all the items are agreeable for each party. Finally once all the partnership details are in place Abbvie works with the partners to ensure the full potential of the partnership is reached for both the partner company and patients.

In very recent partnering news from July 2014 AbbVie proposed a $46 billion acquisition offer for Ireland-based Shire. However, Shire has rejected the offer, claiming it is too low. Shire has rejected AbbVie’s offer three times now and AbbVie is still reluctant to accept the rejection. Therefore,the Board of AbbVie is going to London to pursue Shire’s shareholders and convince them of the takeover. Analysts are estimating that AbbVie will have to increase its offer from $78.84 per share to at least $85.51 per share.

Partnering outreach

Abbvie is often present at a large number of partnering events throughout the year. Partnering events are a great place to meet lots of potential partners face to face in a short space of time.

Events with Abbvie presence include but are not limited to:

  • BIO International Convention and Business Forum
  • BioEurope / BioEurope Spring

For a full list of forthcoming partnering events where you could meet with Abbvie in person visit Current Partnering’s Event calendar.  

Contacting Abbvie for partnering

Abbvie can be contacted in relation to partnering through a number of channels. Here is a list of the most common channels:   

Partnering events: face to face contact is generally considered the most effective form of contact. Partnering events not only allow face to face contact but also contact with multiple companies for the price of one flight and hotel reservation. This benefit makes partnering events the most cost effective method of making personal introductions as a start point for partnering discussions.

See Current Partnering’s event calendar for details of forthcoming events.   

Direct contact: there are several sources of direct contact with Abbvie’ business development team

Phone: Picking up the phone and speaking with an individual is the best form of non-face to face contact as it allows your name and voice to be remembered and associated with an opportunity.

Email: Sending an email is another good way of making contact. Ideally, research the individual responsible for the therapy/technology area being targeted and get in touch. This submissions page on the Abbvie website has details for contacting Abbvie.

LinkedIn: Business to business contact is increasingly taking place via LinkedIn, the global online networking channel.

Many of Abbvie’ business development executives have LinkedIn profiles and can be found by viewing the company’s profile.

Visit Abbvie Linkedin Page.  

Opportunity submission form: the least favourable channel but worth using if you do not have access to the other channels mentioned above. This is the contacts page on the Abbvie website for potential partnering opportunities and general contact names.   

Raveena Bhambra   

* www.abbvie.com 

More

Summary Profile for Abbvie

Partnering activity for Abbvie

M&A activity for Abbvie

View all partnering deals for Abbvie: 2014 | 2013 | 2012 | 2011 | 2010 | 2009 

Full details on each deal can be found at CurrentAgreements (subscription required)

 

Available reports from Current Partnering

Report: Partnering Agreements with Abbvie 2009-2014

Report: Partnering Deals and Alliances with Big Biotech

 

Available resources for deal coverage for Abbvie

Subscribe: Current Agreements life sciences partnering, M&A and financing deals database – find out more

Read: more on Abbvie company profile, recent partnering, M&A and financing news and articles

 

Related

Report: Practical Guide to Finding Partners

View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value

View: Current Partnering’s M&A Scorecard – view top life science M&A deals by value

View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making

View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity

Signup: Current Partnering Dealmakers Update – weekly newsletter providing the latest life science industry deal news, deal making trends, partnering events – sign up now

Signup: Current Agreements Deals Review – monthly newsletter – reviewing the previous month’s life science deal making – partnering, M&A and financing – sign up now

View: Top 50 pharma – overview of top 50 pharmaceutical companies by revenue – partnering activity, deal news, partnering dealtalk

View: Top 50 biotech – overview of top 50 biotechnology companies by revenue – partnering activity, deal news, partnering dealtalk

Follow us on: LinkedIn Current Partnering | LinkedIn Business Development Network | @Currentpartner on Twitter

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