What AbbVie's FY2025 10-K says: 9 signals
AbbVie filed its latest 10-K with the SEC on Feb 20, 2026. It discusses product launch, compliance burden and customer concentration.
Public (ABBV)Pharmaceutical Manufacturing10,000+ employeesabbvie.comLinkedIn
- Filed
- Feb 20, 2026
- Period
- FY2025
- Fiscal year end
- 12/31
- Filings
- 1
10-K · latest 9
What AbbVie's 10-K filings say
- SEC EDGAR
10-K · FY2025
Filed · Fiscal year ends 12/31 · 9 signals
Heavy reliance on 3 distributors for US sales, with one accounting for up to 43% of revenue.
AbbVie's US pharmaceutical sales are substantially concentrated with McKesson, Cardinal Health, and Cencora, creating significant operational risk and dependency.
43%
maximum percentage of 2025 US gross revenues from a single wholesale distributor
McKesson CorporationCardinal Health, Inc.Cencora, Inc.GSK
Three wholesalers represent nearly all US sales, with one accounting for up to 43% of revenue.
AbbVie has a significant revenue dependency on three wholesale distributors - McKesson, Cardinal Health, and Cencora - for its U.S.
43%
Maximum percentage of 2025 US gross revenues from a single wholesale distributor.
McKesson CorporationCardinal Health, Inc.Cencora, Inc.
AbbVie launches new oncology drug Elahere in US and EU for ovarian cancer.
The launch of Elahere, an antibody-drug conjugate (ADC), marks a significant addition to AbbVie's oncology portfolio.
antibody-drug conjugate (ADC)
AbbVie expands migraine drug Qulipta into European Union, rebranded as Aquipta.
AbbVie has secured approval and is launching its preventive migraine treatment in the European Union, a major new market.
AbbVie launches Vyalev in the US, a 24-hour infusion therapy for advanced Parkinson's disease.
The US commercialization of Vyalev provides a new treatment option for patients with advanced Parkinson's disease.
AbbVie launches Epkinly/Tepkinly, a new treatment for relapsed or refractory lymphoma.
AbbVie is commercializing its new lymphoma treatment Epkinly in the US and as Tepkinly in other markets.
Facing significant competitive and pricing pressure from biosimilar drugs on key products.
The introduction of biosimilars for AbbVie's branded biologic products is a primary competitive threat, creating downward pricing pressure and risk of market share loss for drugs without patent protection.
biosimilars
High compliance burden from managing different drug indications across US, EU, and Japan.
AbbVie's global products, such as Rinvoq, have different approved uses and marketing guidelines in the US versus the European Union.
AbbVie is battling on multiple fronts against specialized drug classes like IL inhibitors, JAK inhibitors, and BTK inhibitors, as well as direct product competitors to Botox.
IL-23 inhibitorsIL-17 inhibitorsJAK inhibitorsBTK inhibitors
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Questions about AbbVie 10-K
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Source. Annual reports (Form 10-K) filed with the SEC. Every card links to the filing on EDGAR.
Method. Insights are extracted from the filing text and grouped by category. Numbers are quoted from the filing.
Data as of .