AbbVie is a global pharmaceutical and aesthetics company that develops treatments for autoimmune diseases, cancer, neurological disorders, eye conditions, and cosmetic procedures. Headquartered in North Chicago, Illinois, the company reported $61.2 billion in revenue for 2025 and employs roughly 57,000 people across more than 70 countries.
How AbbVie Makes Money
AbbVie operates in two broad lanes: prescription pharmaceuticals and medical aesthetics. The pharmaceutical side generates most of the revenue, driven by drugs that treat chronic conditions patients may take for years or even decades. The aesthetics side, which AbbVie acquired through its 2020 purchase of Allergan, sells products like Botox Cosmetic and dermal fillers to doctors and clinics worldwide.
The company invests heavily in developing new drugs. In 2024, AbbVie spent $10.8 billion on research and development and had roughly 90 compounds, devices, or new uses for existing drugs in its pipeline. About 75% of its medicines are considered first-in-kind, meaning they work through a mechanism no other approved drug uses.
Immunology: The Core Business
Immunology is AbbVie’s largest and most established specialty. The company’s best-known product, Humira, was once the highest-grossing drug in the world. Humira treats rheumatoid arthritis and other autoimmune conditions, but it has faced competition from cheaper biosimilar versions in the U.S. since 2023.
AbbVie’s growth now centers on two newer immunology drugs. Skyrizi is the company’s current top seller, used for conditions like plaque psoriasis and Crohn’s disease. Rinvoq, the second-best seller, treats rheumatoid arthritis and other autoimmune diseases, with ongoing trials in alopecia areata, vitiligo, hidradenitis suppurativa, and systemic lupus erythematosus. Together, these two drugs are replacing the revenue Humira has lost to biosimilar competition.
Oncology
AbbVie’s cancer research started with blood cancers and has expanded into solid tumors. The company develops targeted therapies that work by exploiting specific biological vulnerabilities in cancer cells rather than using traditional chemotherapy’s broader approach. This area represents a significant portion of AbbVie’s pipeline as the company looks to grow beyond immunology.
Neuroscience
AbbVie researches treatments for some of the most difficult neurological conditions, including Parkinson’s disease, Alzheimer’s disease, schizophrenia, migraine, and stroke. The company focuses on disease-modifying therapies, meaning treatments that aim to slow or alter the course of a disease rather than just manage symptoms. Movement disorders, including Parkinson’s and related conditions, are a particular area of emphasis.
Eye Care
AbbVie’s eye care portfolio covers conditions from the front of the eye to the back, including glaucoma and chronic retinal diseases. The goal is both preserving vision and preventing blindness. This business also came largely through the Allergan acquisition, which brought along a deep portfolio of established eye care products.
Allergan Aesthetics
AbbVie’s aesthetics division operates under the Allergan Aesthetics brand and sells a wide range of cosmetic and body-contouring products to physicians and clinics. The most recognizable product is Botox Cosmetic, used to temporarily smooth facial wrinkles including frown lines, crow’s feet, and forehead lines.
Beyond Botox, the portfolio includes the Juvéderm collection of injectable dermal fillers for cheek augmentation, lip enhancement, chin contouring, and smoothing under-eye hollows. Kybella is an injectable that reduces fat under the chin. CoolSculpting and CoolSculpting Elite are non-surgical fat-reduction devices cleared for use on areas like the abdomen, thighs, flanks, and upper arms. CoolTone is a separate device for muscle toning in the abdomen, buttocks, and thighs.
The aesthetics division also includes Natrelle breast implants, the SkinMedica skincare line (which sells sunscreens and other over-the-counter products), DiamondGlow dermabrasion devices, and Latisse, a prescription treatment that promotes eyelash growth. This combination of injectables, devices, implants, and skincare products makes AbbVie one of the largest players in the medical aesthetics industry.
Other Specialty Areas
Outside its five core divisions, AbbVie also works in infectious diseases (including hepatitis C and HIV), pulmonology, endocrinology, gastrointestinal diseases, and therapeutic neurotoxins. These are smaller parts of the business but contribute to the overall portfolio and pipeline.
How AbbVie Became What It Is Today
AbbVie started as a spin-off from Abbott Laboratories in 2013, separating the research-driven pharmaceutical business from Abbott’s medical devices and diagnostics. The 2020 acquisition of Allergan for roughly $63 billion transformed the company, adding the entire Botox and aesthetics franchise along with a large eye care portfolio. That deal made AbbVie one of the largest pharmaceutical companies in the world by revenue and diversified its business well beyond the immunology drugs it was originally built around.