AbbVie Inc. (ABBV) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that AbbVie Inc. surfaced in its latest filing.

• Skyrizi and Rinvoq each represented greater than 10% of AbbVie's total net revenues in 2025, and in aggregate accounted for approximately 42%.2025
• Imbruvica was selected by HHS/CMS in August 2023 as one of 10 medicines subject to government-set Medicare Part D prices beginning January 1, 2026.August 2023
• Vraylar and Linzess were selected in January 2025 as two of 15 medicines subject to government-set Medicare Part D prices beginning January 1, 2027.January 2025
• Botox was selected in January 2026 as one of 15 medicines subject to government-set Medicare Parts B and D prices beginning January 1, 2028.January 2026
• The Inflation Reduction Act replaced the 70% coverage gap discount program with a 10% manufacturer discount for Medicare Part D beneficiaries below a $2,000 out-of-pocket threshold and a 20% discount above it, effective January 2025.January 2025
• In January 2026, AbbVie entered into a voluntary three-year agreement with the U.S. government providing pricing concessions and U.S.-based R&D and capital investments in exchange for tariff exemptions and relief from future pricing mandates.January 2026
• In 2025, McKesson Corporation, Cardinal Health, Inc., and Cencora, Inc. accounted for substantially all of AbbVie's pharmaceutical product sales in the United States.2025
• As of December 31, 2025, carrying value of developed product rights and other intangible assets was $52.6 billion, and carrying value of goodwill was $35.6 billion.December 31, 2025
• Net revenues outside of the United States made up approximately 24% of AbbVie's total net revenues in 2025.2025