AbbVie 2013 Annual Report Download - page 3
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13NOV201221365766
4DEC201212233206
Dear AbbVie Stockholder:
We had a highly successful inaugural year as an independent company, and we
delivered strong results. Our goals for 2013 included delivering top-tier financial
performance, maximizing our on-market product portfolio and advancing our
late-stage pipeline, including our novel HCV therapy. We met or exceeded all of these
commitments, while at the same time expanded our pipeline through both internal
R&D efforts and external collaborations that position the company for continued
future success.
We delivered strong financial performance in 2013, with a total stockholder return
in excess of 60 percent. Total revenue grew to $18.8 billion, driven by our flagship
medicine Humira—which increased in worldwide sales by 15 percent—and the strong
growth of our other on-market products.
We made significant progress in advancing several of our late-stage compounds
into Phase III studies and completed the Hepatitis C clinical program, keeping us on
track to submit for regulatory approval in the second quarter of 2014. This therapy
has been designated by the U.S. Food and Drug Administration as a ‘‘breakthrough
therapy’’ and we expect a more rapid review and approval before the end of this year.
Additionally, we completed studies of ABT-199, for chronic lymphocytic lymphoma,
and veliparib, for triple-negative breast cancer, and began Phase III studies for these
important oncology compounds.
By all measures, we finished our first year successfully. As we begin our second
year as a new company, AbbVie remains focused on execution and delivering
breakthrough science with the potential to be transformational for our patients while
continuing to meet our commitments to our stockholders and investors.
On behalf of our management team and employees, I thank you for your support
and confidence in our company in 2013.
Best regards,
Richard A. Gonzalez
Chairman and Chief Executive Officer