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Report No. : |
324002 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ABBVIE INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
10.04.2012 |
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Legal Form : |
Pubic Company (NYSE = ABBV) |
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Line of Business : |
Subject is discovers, develops, manufactures, and sells pharmaceutical
products |
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No. of Employee : |
26,000 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $54,800. In 2014, however, US GDP ran second to China’s, when compared on a Purchasing Power Parity basis; the US lost the top spot, where it had stood for more than a century. In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology has been a driving factor in the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers, has put additional downward pressure on wages and upward pressure on the returns to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression.
To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed ended the purchases during the summer of 2014. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
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Source
: CIA |
ABBVIE INC.
1 North Waukegan Road, North Chicago, IL 60064 - USA
Telephone: +1
847-932-7900
Fax: +1 302-655-5049
Website: www.abbvie.com
Corporate ID#: 5126809
State: Delaware
Judicial form: Pubic Company (NYSE = ABBV)
Date incorporated: April
10, 2012
Stock: 1,593,076,097
shares issued and outstanding
(as of 03-31-2015)
Value: USD 0.01= par value
Richard GONZALES
Business:
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical
products worldwide.
The company’s products include HUMIRA, a biologic therapy administered
as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an
all-oral, short-course, interferon-free therapy, with or without ribavirin, for
adult patients with genotype 1 chronic hepatitis, including those with
compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other
anti-HIV-1 medications as a treatment that maintains viral suppression in
people with HIV-1; Norvir, a protease inhibitor indicated in combination with
other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent
respiratory syncytial virus infection in high risk infants.
It also provides AndroGel, a testosterone replacement therapy for males
diagnosed with symptomatic low testosterone; Creon, a pancreatic enzyme therapy
for exocrine pancreatic insufficiency; Synthroid to treat hypothyroidism; and
Lupron, a product for the palliative treatment of prostate cancer, and the
treatment of endometriosis and central precocious puberty, as well as for the
preoperative treatment of patients with anemia.
In addition, the company offers Duopa and Duodopa, a levodopa-carbidopa
intestinal gel to treat Parkinson’s disease; Sevoflurane, an anesthesia product
for human use; TriCor, Trilipix, Niaspan, Simcor, and Advicor to treat
metabolic conditions characterized by high cholesterol and/or high
triglycerides; and Zemplar to treat secondary hyperparathyroidism. It sells its
products to wholesalers, distributors, government agencies, health care
facilities, specialty pharmacies, and independent retailers from its
distribution centers and public warehouses.
The company has strategic collaboration with Calico Life Sciences LLC,
Infinity Pharmaceuticals, Inc., Ablynx NV, Galapagos NV, Alvine
Pharmaceuticals, Inc., and Action Pharma A/S.
AbbVie Inc. was incorporated in 2012 and is based in North Chicago,
Illinois.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
No name of foreign suppliers available.
EIN: 32-0375147
Staff: 26,000
Operations & branches:
At the headquarters, we
find the corporate office.
The Company maintains
several branches in the U.S.
The Company is listed with the
NYSE under symbol ABBV.
As of 03-31-2015, 40% of
the stock was held by institutional and mutual fund owners, including:
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Vanguard Group, Inc. (The) |
6.21% |
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Capital Research Global Investors |
5.68% |
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State Street Corporation |
4.51% |
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BlackRock Institutional Trust Company,
N.A. |
3.01% |
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Capital Income Builder, Inc. |
2.19% |
Richard A. GONZALEZ serves as the Chairman and CEO
Mr. Gonzalez has been an Executive Vice President of Pharmaceutical Products
Group at Abbott Diabetes Care Inc., since July 1, 2010. He served as President
of Abbott Ventures, Inc. at Abbott Diabetes Care, Inc. since 2009. He served as
an Interim Executive Vice President of Pharmaceutical Products at Abbott
Laboratories since July 1, 2010. He was responsible for Abbott's global
pharmaceutical business, including commercial operations, research and
development, and manufacturing. He has served more than 30 years in various
capacities at Abbott. He served as President, Abbott Ventures Inc., Abbott's
medical technology investment arm, from 2009 to 2011. Mr. Gonzalez joined
Abbott in 1977 and held various management positions before briefly retiring in
2007, including President of Abbott's Medical Products Group, and President of
Abbott's former Hospital Products Division (now Hospira, Inc.).
He served as Chief Operating Officer and President at Abbott Vascular,
Inc., a subsidiary of Abbott Laboratories until September 30, 2007. He served
as an Executive Vice President of medical products of Abbott from 2000 to 2001,
as Senior Vice President, hospital products from 1998 to 2000, and as Vice
President of Abbott Health Systems division from 1995 to 1998. He served as
President of Abbott's Health Systems Division. He joined Abbott in 1977. Since
1992, he served as Divisional Vice President and General Manager for Abbott's
Diagnostic Operations in the United States and Canada. He served as a Chief
Operating Officer & President of Abbott Laboratories from 2006 to September
30, 2007, served as its Chief Operating Officer of Medical Products Group and
President of Medical Products Group-div from 2001 to March 27, 2006, President
from 2006 to September 30, 2007, Chief Operating Officer of all Operations and
President of All Operations since March 27, 2006.
Prior to Abbott, Mr. Gonzalez served as a research biochemist at the
University of Miami School of Medicine. He serves on the board of Directors of
the John G. Shedd Aquarium and the Lyric Opera of Chicago.
He served as a Director of Abbott Vascular, Inc. until September 30,
2007 and Abbott Laboratories from December 14, 2001 to September 30, 2007.
William J. CHASE is the CFO.
Laura SCHUMACHER is Secretary.
Subsidiaries And
partnership: Several in the U.S. and worldwide.
On attachment:
- 10K 2014
- 1st 10Q 2015
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Currency
in |
As of: |
Dec
31 |
Dec
31 |
Dec
31 |
Dec
31 |
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REVENUE |
17,444.0 |
18,380.0 |
18,790.0 |
19,960.0 |
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NET INCOME |
3,433.0 |
5,275.0 |
4,128.0 |
1,774.0 |
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Banks: JPMorgan Chase Bank
Legal filings
& complaints:
As of today date, there are several legal filing pending with various
Courts.
Secured debts
summary (UCC):
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File Number |
Filing Date |
Secured Party |
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05/19/2014 |
DE LAGE LANDEN FINANCIAL SERVICES,
INC. |