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AbbVie10-K: Customer concentration

Three wholesalers represent nearly all US sales, with one accounting for up to 43% of revenue.

What happened

AbbVie has a significant revenue dependency on three wholesale distributors - McKesson, Cardinal Health, and Cencora - for its U.S. pharmaceutical sales. This concentration creates supply chain risk and pressure on partner management, requiring robust systems to ensure operational stability and maintain favorable terms.

Source

SEC EDGARFeb 20, 2026

Annual report (Form 10-K)

AbbVie 10-K for FY2025

Filing excerpt

In 2025, three wholesale distributors (McKesson Corporation, Cardinal Health, Inc. and Cencora, Inc.) accounted for substantially all of AbbVie's pharmaceutical product sales in the United States.

sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htmRead the full source

Other signals in this filing (8)

Extracted by Autobound

From the Signal API record
Signal
10-K: Customer concentration

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 20, 2026

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The full record

From the Signal API record

Numbers

Percent
43% (Maximum percentage of 2025 US gross revenues from a single wholesale distributor.)

Details

CIK
1551152
Accession number
0001551152-26-000008
Timeframe
Current year
Filing year
2026
Why it matters
Diversification strategy
Signal category
Market

Topics and mentions

Vendors

  • McKesson Corporation
  • Cardinal Health
  • Inc.
  • Cencora

Regions named

  • United States

Vendors named

  • McKesson Corporation
  • Cardinal Health, Inc.
  • Cencora, Inc.

Extraction

Confidence
High
Relevance
90%
Sentiment
Negative
Detected
Feb 24, 2026
signal_type
sec-10k
signal_subtype
customerConcentration

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/a1a52542-e1f4-467f-bf3d-fed6a2e8c62c returns this record as JSON. POST /v1/companies/enrich returns every signal for abbvie.com.

{
  "signal_id": "a1a52542-e1f4-467f-bf3d-fed6a2e8c62c",
  "signal_type": "sec-10k",
  "signal_subtype": "customerConcentration",
  "detected_at": "2026-02-24T09:18:27.385+00:00",
  "company": {
    "name": "AbbVie",
    "domain": "abbvie.com"
  },
  "data": {
    "detail": "AbbVie has a significant revenue dependency on three wholesale distributors - McKesson, Cardinal Health, and Cencora - for its U.S. pharmaceutical sales. This concentration creates supply chain risk and pressure on partner management, requiring robust systems to ensure operational stability and maintain favorable terms.",
    "metrics": {
      "pct": 0.43,
      "timeframe": "current_year",
      "pct_context": "Maximum percentage of 2025 US gross revenues from a single wholesale distributor."
    },
    "summary": "Three wholesalers represent nearly all US sales, with one accounting for up to 43% of revenue.",
    "excerpts": "In 2025, three wholesale distributors (McKesson Corporation, Cardinal Health, Inc. and Cencora, Inc.) accounted for substantially all of AbbVie's pharmaceutical product sales in the United States.",
    "relevance": 0.9,
    "sentiment": "negative",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm",
    "filing_date": "2026-02-20",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Diversification strategy",
    "signal_category": "market",
    "regions_mentioned": [
      "United States"
    ],
    "vendors_mentioned": [
      "McKesson Corporation",
      "Cardinal Health, Inc.",
      "Cencora, Inc."
    ]
  }
}

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