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Abbvie inc   (ABBV)
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Abbvie Inc 's

Competitiveness


 

ABBV Sales vs. its Competitors Q4 2023



Comparing the current results to its competitors, Abbvie Inc reported Revenue decrease in the 4 quarter 2023 year on year by -5.42 %, faster than the overall decrease of Abbvie Inc 's competitors by 0 %, recorded in the same quarter.

List of ABBV Competitors

With a net margin of 5.76 % Abbvie Inc achieved higher profitability than its competitors.

More on ABBV Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


Abbvie inc Net Income in the 4 quarter 2023 fell year on year by -66.67%, while most of its competitors have experienced a contraction in net income by -63.29 %.

<<  ABBV Stock Performance Comparisons


Abbvie Inc 's Comment on Competitors and Industry Peers


The markets for AbbVies products are highly competitive. AbbVie competes with other research-based pharmaceuticals and biotechnology companies that discover, manufacture, market, and sell proprietary pharmaceutical products and biologics. For example, HUMIRA competes with a number of anti-TNF and other products that are approved for a number of disease states and AbbVies virology products compete with protease inhibitors and other anti-HIV treatments. The search for technological innovations in pharmaceutical products is a significant aspect of competition. The introduction of new products by competitors and changes in medical practices and procedures can result in product obsolescence. Price is also a competitive factor. In addition, the substitution of generic pharmaceutical products for branded pharmaceutical products creates competitive pressures on AbbVies products that do not have patent protection.

Biosimilars. Competition for AbbVies biologic products is affected by the approval of follow-on biologics, also known as "biosimilars." Biologics have added major therapeutic options for the treatment of many diseases, including some for which therapies were unavailable or inadequate. The advent of biologics has also raised complex regulatory issues and significant pharmacoeconomic concerns because the cost of developing and producing biologic therapies is typically dramatically higher than for conventional (small molecule) medications, and because many expensive biologic medications are used for ongoing treatment of chronic diseases, such as rheumatoid arthritis or inflammatory bowel disease, or for the treatment of previously untreatable cancer. Significant investments in biologics infrastructure and manufacturing are necessary to produce biologic products, as are significant investments in marketing, distribution, and sales organization activities, which may limit the number of biosimilar competitors.

In the United States, the FDA regulates biologics under the Federal Food, Drug, and Cosmetic Act, the Public Health Service Act, and implementing regulations. While the enactment of federal health care reform legislation in March 2010 was meant to provide a pathway for approval of biosimilars under the Public Health Service Act, recent regulatory guidance suggests that the approval process for biosimilars will be far more extensive than the approval process for generic or other follow-on versions of small molecule products, in order to ensure that the safety and efficacy of biosimilars is highly similar to that of an original biologic, such as HUMIRA. Ultimate approval by the FDA is dependent upon many factors, including a showing that the biosimilar is "highly similar" to the original product and has no clinically meaningful differences from the original product in terms of safety, purity, and potency. The types of data that could ordinarily be required in an application to show similarity would include analytical data and studies to demonstrate chemical similarity, animal studies (including toxicity studies), and clinical studies. Applicable regulations also require that the biosimilar must be for the same indication as the original biologic and involve the same mechanism of action, and that the manufacturing facility meets the standards necessary to assure that the biosimilar is safe, pure, and potent.

Furthermore, the new law provides that only a biosimilar product that is deemed to be "interchangeable" may be substituted for the original biologic product without the intervention of the health care provider who prescribed the original biologic product. To prove that a biosimilar product is interchangeable, the applicant must demonstrate that the product can be expected to produce the same clinical results as the original biologic product in any given patient, and if the product is administered more than once in a patient, that safety risks and potential for diminished efficacy of alternating or switching between the use of the interchangeable biosimilar biologic product and the original biologic product is no greater than the risk of using the original biologic product without switching. The new law is only beginning to be interpreted and implemented by the FDA. As a result, its ultimate impact, implementation, and meaning will likely be subject to substantial uncertainty for years to come.





*Market share is calculated based on total revenue.





Who are Abbvie inc 's Competitors?




Biogen Inc
Share Performance



-18.11%
One Year



Biogen Inc
Profile

Biogen Inc's business model revolves around researching, developing, and commercializing therapies for neurological and neurodegenerative diseases.

More about Biogen Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 31,963.029 mill. $ 9,835.600 mill. $ 1,161.500 mill.


Bristol myers Squibb Company
Share Performance



+4.35%
30 Days



Bristol myers Squibb Company
Profile

Bristol Myers Squibb Company is a pharmaceutical firm that operates on a research and development-driven business model, focused on discovering, developing, and delivering innovative medicines to treat various diseases. The company collaborates with academic institutions, government organizations, and other pharmaceutical companies to advance their portfolio of therapeutics and improve patient outcomes.

More about Bristol myers Squibb Company's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 107,256.412 mill. $ 45,006.000 mill. $ 8,040.000 mill.


Johnson and Johnson
Share Performance



+1.09%
This Quarter



Johnson and Johnson
Profile

Johnson & Johnson operates as a multinational healthcare company with a diversified model. They develop, manufacture, and sell a broad range of pharmaceutical, medical devices, and consumer goods. Their business is focused on improving the health and well-being of people worldwide through innovation, research, and strategic acquisitions.

More about Johnson and Johnson's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 401,646.085 mill. $ 85,159.000 mill. $ 35,153.000 mill.


Pfizer Inc
Share Performance



-3.01%
This Quarter



Pfizer Inc
Profile

Pfizer Inc operates as a global pharmaceutical company, focused on discovering, developing, manufacturing, and marketing innovative medicines. Its business model revolves around investing in research and development to create a diverse portfolio of therapies across various therapeutic areas. Leveraging its scale, Pfizer aims to commercialize these products globally and drive growth through strategic alliances and collaborations with other industry players.

More about Pfizer Inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 158,753.189 mill. $ 58,496.000 mill. $ 2,158.000 mill.


Amgen Inc
Share Performance



-6.29%
30 Days



Amgen Inc
Profile

Amgen Inc's business model is centered around developing, manufacturing, and commercializing innovative biotechnology products.

More about Amgen Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 145,687.374 mill. $ 28,190.000 mill. $ 6,717.000 mill.


Abbott Laboratories
Share Performance



+5.40%
This Quarter



Abbott Laboratories
Profile

Abbott Laboratories operates as a diversified healthcare company with a broad portfolio of products. Their business model is centered around developing and manufacturing various health-related products, including pharmaceuticals, medical devices, nutritional products, and diagnostic technologies. They aim to serve a wide range of healthcare sectors globally by providing innovative solutions that improve the quality of patients' lives.

More about Abbott Laboratories's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 197,390.834 mill. $ 40,109.000 mill. $ 5,723.000 mill.


Gilead Sciences Inc
Share Performance



-9.35%
This Quarter



Gilead Sciences Inc
Profile

Gilead Sciences Inc's business model revolves around researching, developing, and commercializing innovative medicines in various therapeutic areas, with a primary focus on antiviral drugs. They aim to address unmet medical needs and improve the lives of patients worldwide.

More about Gilead Sciences Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 92,226.200 mill. $ 27,116.000 mill. $ 5,613.000 mill.


Merck and Co Inc
Share Performance



+7.24%
This Year



Merck and Co Inc
Profile

Merck and Co Inc operates primarily as a research-intensive pharmaceutical company, engaging in the development, manufacturing, and marketing of prescription drugs and vaccines worldwide. The company focuses on discovering innovative solutions to address unmet medical needs across various therapeutic areas, collaborating with academic institutions and conducting clinical trials to evaluate the efficacy and safety of their products. Merck and Co Inc also holds a strong commitment to the well-being of patients and aims to contribute to global healthcare by delivering high-quality, affordable medications.

More about Merck and Co Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ - mill. $ - mill. $ 377.000 mill.


Eli Lilly And Company
Share Performance



+28.78%
This Year



Eli Lilly And Company
Profile

Eli Lilly and Company operates as a pharmaceutical company, primarily focused on researching, developing, manufacturing, and marketing prescription drugs across various therapeutic areas.

More about Eli Lilly And Company's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 689,076.459 mill. $ 34,124.100 mill. $ 5,240.400 mill.


Enact Holdings Inc
Share Performance



+2.34%
This Year



Enact Holdings Inc
Profile

Enact Holdings Inc operates as a private mortgage insurance company. It provides mortgage insurance products and services to lenders, helping them mitigate risk associated with low down payment residential mortgages.

More about Enact Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 4,749.255 mill. $ 1,153.686 mill. $ 665.511 mill.



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