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0001551152 false Common Stock, $0.01 Par Value ABBV 0001551152 2020-07-29 2020-07-29 0001551152 us-gaap:CommonStockMember exch:XNYS 2020-07-29 2020-07-29 0001551152 exch:XCHI us-gaap:CommonStockMember 2020-07-29 2020-07-29 0001551152 abbv:Sec1.375SeniorNotesDue2024Member exch:XNYS 2020-07-29 2020-07-29 0001551152 abbv:Sec0.750SeniorNotesDue2027Member exch:XNYS 2020-07-29 2020-07-29 0001551152 abbv:Sec2.125SeniorNotesDue2028Member exch:XNYS 2020-07-29 2020-07-29 0001551152 abbv:Sec1.250SeniorNotesDue2031Member exch:XNYS 2020-07-29 2020-07-29 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 29, 2020

 

ABBVIE INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Delaware   001-35565   32-0375147
(State or other Jurisdiction
of Incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

 

 

1 North Waukegan Road

North Chicago, Illinois 60064-6400

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (847) 932-7900

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which
registered
Common Stock, $0.01 Par Value   ABBV  

New York Stock Exchange

Chicago Stock Exchange

1.375% Senior Notes due 2024   ABBV24   New York Stock Exchange
0.750% Senior Notes due 2027   ABBV27   New York Stock Exchange
2.125% Senior Notes due 2028   ABBV28   New York Stock Exchange
1.250% Senior Notes due 2031   ABBV31   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

Item 2.02.Results of Operations and Financial Condition.

 

Furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference is certain unaudited financial information relating to the acquisition by AbbVie Inc. (“AbbVie”) of Allergan plc (“Allergan”), which closed on May 8, 2020. On page 1, AbbVie provides information with respect to its historical key product revenues for each of the quarters in the year ended December 31, 2019, the year ended December 31, 2019 as well as the quarter ended March 31, 2020. On page 2, AbbVie provides information with respect to its comparable key product revenues for each of the quarters in the year ended December 31, 2019, the year ended December 31, 2019 as well as the quarter ended March 31, 2020, which was prepared as if the acquisition of Allergan had closed on January 1, 2019.

 

Item 9.01.Financial Statements and Exhibits.

 

(d)Exhibits

 

Exhibit
No.

  

Description

     
99.1   Certain unaudited financial information relating to the acquisition by AbbVie Inc. of Allergan plc (furnished pursuant to Item 2.02).
     
104   The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ABBVIE INC.
   
Date: July 29, 2020 By: /s/ Robert A. Michael
    Robert A. Michael
    Executive Vice President, Chief Financial Officer

 

 

Common Stock, $0.01 Par Value ABBV

Exhibit 99.1

 

AbbVie Inc.

Key Product Revenues

Quarterly Trend Analysis

(Unaudited, in millions) 

  1Q19     2Q19     3Q19     4Q19     FY19     1Q20  
  U.S.   Int’l.   Total     U.S.   Int’l.   Total     U.S.   Int’l.   Total     U.S.     Int’l.   Total     U.S.   Int’l.   Total     U.S.   Int’l.   Total  
NET REVENUES $ 5,270   $ 2,558   $ 7,828     $ 5,964   $ 2,291   $ 8,255     $ 6,244   $ 2,235   $ 8,479     $ 6,429     $ 2,275   $ 8,704     $ 23,907   $ 9,359   $ 33,266     $ 6,158   $ 2,461   $ 8,619  
                                                                                     
Immunology 3,215   1,231   4,446     3,835   1,083   4,918     3,977   1,064   5,041     4,195     971   5,166     15,222   4,349   19,571     4,004   1,085   5,089  
Humira 3,215   1,231   4,446     3,793   1,077   4,870     3,887   1,049   4,936     3,969     948   4,917     14,864   4,305   19,169     3,656   1,047   4,703  
Skyrizi —   —   —     42   6   48     76   15   91     193     23   216     311   44   355     266   34   300  
Rinvoq —   —   —     —   —   —     14   —   14     33     —   33     47   —   47     82   4   86  
                                                                                     
Hematologic Oncology 934   239   1,173     1,003   265   1,268     1,184   294   1,478     1,230     317   1,547     4,351   1,115   5,466     1,167   382   1,549  
Imbruvicaa 829   193   1,022     886   213   1,099     1,042   215   1,257     1,073     223   1,296     3,830   844   4,674     966   266   1,232  
Venclexta 105   46   151     117   52   169     142   79   221     157     94   251     521   271   792     201   116   317  
                                                                                     
Aesthetics —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Botox Cosmetic* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Juvederm Collection* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Other Aesthetics* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
                                                                                     
Neuroscience 22   89   111     24   91   115     26   91   117     25     93   118     97   364   461     25   99   124  
Botox Therapeutic* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Vraylar* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Duodopa 22   89   111     24   91   115     26   91   117     25     93   118     97   364   461     25   99   124  
Ubrelvy* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Other Neuroscience* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
                                                                                     
Eye Care —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Lumigan/Ganfort* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Alphagan/Combigan* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Restasis* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Other Eye Care* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
                                                                                     
Women's Health 13   —   13     18   1   19     27   —   27     33     1   34     91   2   93     30   1   31  
Lo Loestrin* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Orilissa 13   —   13     18   1   19     27   —   27     33     1   34     91   2   93     30   1   31  
Other Women's Health* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
                                                                                     
Other Key Products 1,003   425   1,428     1,024   425   1,449     1,017   370   1,387     976     367   1,343     4,020   1,587   5,607     910   363   1,273  
Mavyret 403   387   790     396   384   780     368   327   695     306     322   628     1,473   1,420   2,893     234   325   559  
Creon 227   —   227     257   —   257     265   —   265     292     —   292     1,041   —   1,041     276   —   276  
Lupron 191   38   229     168   41   209     187   43   230     174     45   219     720   167   887     195   38   233  
Linzess/Constella* —   —   —     —   —   —     —   —   —     —     —   —     —   —   —     —   —   —  
Synthroid 182   —   182     203   —   203     197   —   197     204     —   204     786   —   786     205   —   205  

 

a Reflects profit sharing for Imbruvica international revenues.

* Represents product(s) acquired as part of the Allergan acquisition.

 

 

 

AbbVie Inc.

Key Product Revenues

Quarterly Comparable Historical Trend Analysisa, b

(Unaudited, in millions)

 

  1Q19     2Q19     3Q19     4Q19     FY19     1Q20  
  U.S.   Int’l.   Total     U.S.   Int’l.   Total     U.S.   Int’l.   Total     U.S.   Int’l.   Total     U.S.   Int’l.   Total     U.S.   Int’l.   Total  
NET REVENUES $ 8,031   $ 3,359   $ 11,390     $ 9,130   $ 3,137   $ 12,267     $ 9,334   $ 3,069   $ 12,403     $ 9,751   $ 3,192   $ 12,943     $ 36,246   $ 12,757   $ 49,003     $ 9,018   $ 3,151   $ 12,169  
                                                                                   
Immunology 3,215   1,231   4,446     3,835   1,083   4,918     3,977   1,064   5,041     4,195   971   5,166     15,222   4,349   19,571     4,004   1,085   5,089  
Humira 3,215   1,231   4,446     3,793   1,077   4,870     3,887   1,049   4,936     3,969   948   4,917     14,864   4,305   19,169     3,656   1,047   4,703  
Skyrizi —   —   —     42   6   48     76   15   91     193   23   216     311   44   355     266   34   300  
Rinvoq —   —   —     —   —   —     14   —   14     33   —   33     47   —   47     82   4   86  
                                                                         
Hematologic Oncology 934   239   1,173     1,003   265   1,268     1,184   294   1,478     1,230   317   1,547     4,351   1,115   5,466     1,167   382   1,549  
Imbruvicac 829   193   1,022     886   213   1,099     1,042   215   1,257     1,073   223   1,296     3,830   844   4,674     966   266   1,232  
Venclexta 105   46   151     117   52   169     142   79   221     157   94   251     521   271   792     201   116   317  
                                                                         
Aesthetics 648   353   1,001     737   357   1,094     646   358   1,004     742   413   1,155     2,773   1,481   4,254     587   250   837  
Botox Cosmetic* 230   147   377     252   176   428     238   166   404     272   183   455     992   672   1,664     213   114   327  
Juvederm Collection* 129   158   287     157   173   330     135   144   279     167   181   348     588   656   1,244     108   113   221  
Other Aesthetics* 289   48   337     328   8   336     273   48   321     303   49   352     1,193   153   1,346     266   23   289  
                                                                         
Neuroscience 780   185   965     903   192   1,095     923   189   1,112     1,005   198   1,203     3,611   764   4,375     919   192   1,111  
Botox Therapeutic* 403   94   497     454   99   553     439   93   532     469   103   572     1,765   389   2,154     402   89   491  
Vraylar* 148   —   148     201   —   201     241   —   241     291   —   291     881   —   881     285   —   285  
Duodopa 22   89   111     24   91   115     26   91   117     25   93   118     97   364   461     25   99   124  
Ubrelvy* —   —   —     —   —   —     —   —   —     —   —   —     —   —   —     13   —   13  
Other Neuroscience* 207   2   209     224   2   226     217   5   222     220   2   222     868   11   879     194   4   198  
                                                                         
Eye Care 505   292   797     594   327   921     577   313   890     610   319   929     2,286   1,251   3,537     607   283   890  
Lumigan/Ganfort* 70   85   155     69   91   160     69   89   158     79   96   175     287   361   648     81   81   162  
Alphagan/Combigan* 91   38   129     98   41   139     94   40   134     95   43   138     378   162   540     92   37   129  
Restasis* 248   10   258     315   12   327     300   10   310     331   18   349     1,194   50   1,244     314   11   325  
Other Eye Care* 96   159   255     112   183   295     114   174   288     105   162   267     427   678   1,105     120   154   274  
                                                                         
Women's Health 230   8   238     262   10   272     280   11   291     285   13   298     1,057   42   1,099     219   9   228  
Lo Loestrin* 129   3   132     150   3   153     167   3   170     161   5   166     607   14   621     114   3   117  
Orilissa 13   —   13     18   1   19     27   —   27     33   1   34     91   2   93     30   1   31  
Other Women's Health* 88   5   93     94   6   100     86   8   94     91   7   98     359   26   385     75   5   80  
                                                                         
Other Key Products 1,181   430   1,611     1,231   430   1,661     1,237   377   1,614     1,216   374   1,590     4,865   1,611   6,476     1,103   370   1,473  
Mavyret 403   387   790     396   384   780     368   327   695     306   322   628     1,473   1,420   2,893     234   325   559  
Creon 227   —   227     257   —   257     265   —   265     292   —   292     1,041   —   1,041     276   —   276  
Lupron 191   38   229     168   41   209     187   43   230     174   45   219     720   167   887     195   38   233  
Linzess/Constella* 178   5   183     207   5   212     220   7   227     240   7   247     845   24   869     193   7   200  
Synthroid 182   —   182     203   —   203     197   —   197     204   —   204     786   —   786     205   —   205  

  

a Comparable historical net revenues include total revenues for all reported periods for both AbbVie and Allergan products as if the acquisition had closed on January 1, 2019.

b All historically reported Allergan revenues have been recast to conform to AbbVie's revenue recognition accounting policies and reporting conventions for certain rebates and discounts. Historically reported Allergan revenues also exclude Zenpep and Viokace product revenues, which were both divested as part of the acquisition, as well as specified items.

c Reflects profit sharing for Imbruvica international revenues.

* Represents product(s) acquired as part of the Allergan acquisition.