NORTH CHICAGO, Ill., Feb. 17, 2017 /PRNewswire/ -- The board of directors of AbbVie Inc. (NYSE: ABBV) has authorized a $5 billion increase to AbbVie's existing stock repurchase program.

Purchases may be made from time to time in management's discretion. The stock repurchase authorization permits shares to be repurchased in open market or private transactions, has no time limit and may be discontinued at any time.

About AbbVie

AbbVie is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. The company's mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world's most complex and serious diseases. Together with its wholly-owned subsidiary, Pharmacyclics, AbbVie employs approximately 30,000 people worldwide and markets medicines in more than 170 countries. For further information on the company and its people, portfolio and commitments, please visit www.abbvie.com. Follow @abbvie on Twitter or view careers on our Facebook or LinkedIn page.

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SOURCE AbbVie

Adelle Infante, (847) 938-8745, or Investors: Liz Shea, (847) 935-2211