AbbVie Inc.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Social Achievements
- Donated more than $680 million for nonprofits around the world.
- Nearly 14,000 employees volunteered during our annual Week of Possibilities, and we raised more than $23 million during our Employee Giving Campaign.
Governance Achievements
- Management succession planning resulted in the election of Robert A. Michael as the next Chief Executive Officer.
- Welcomed two new directors to the board.
Climate Goals & Targets
Environmental Challenges
- Loss of exclusivity for Humira in the U.S. in 2023.
- Increased competition from biosimilars.
- Pricing pressures from governments and private organizations.
- Impact of the Inflation Reduction Act of 2022.
Mitigation Strategies
- Successfully managed the impact of the loss of exclusivity of Humira in the U.S.
- Extraordinary growth of AbbVie’s non-Humira platform.
- Strategies to maintain broad formulary access of Humira and manage the impact of biosimilar erosion.
- Continued investment in the future, including increased R&D investment and business development opportunities.