Saturday Spotlight: Shining Light Company – AbbVie Inc.

AbbVie, Inc (NYSE: ABBV) is a research-based biopharmaceutical company based in North Chicago, IL. The company engages in the discovery, development, manufacture and sale of a broad line of proprietary pharmaceutical products. Research and innovation are the cornerstones of the business. They focus on discovering, developing and delivering drugs in therapeutic areas where they have proven expertise such as chronic autoimmune diseases, oncology, virology,neurological disorders, metabolic diseases, as well as other serious health conditions.Its crown jewel is the anti-inflammatory drug Humira, one of the world’s biggest drugs.  AbbVie was spun off from Abbott’s medical devices and nutrition business in 2013. Their name represents their connection to the past and the future. 

AbbVie’s mission to improve lives starts at the top. Rick Gonzalez is Chairman of the Board and Chief Executive Officer of AbbVie.  The company was voted one of 2018 FORTUNE 100 Best Companies to Work For, according to global research and consulting firm Great Place to Work and Fortune. The ranking is based on survey responses from more than 310,000 employees rating their workplace culture on 50-plus elements of the workplace. 

With 29,000 employees worldwide in over 70 countries, their employees are scientists, researchers, communicators, manufacturing specialists and regulatory experts. At AbbVie, all employees are expected to lead and foster a culture of ethical and compliant behavior. To assist, they have an Office of Ethics and Compliance (OEC), which focuses on the development and enhancement of their compliance program.The commitment to ethics and compliance guides each of their employees in the way they conduct business every single day.  Their Environment, Health and Safety programs aim to provide a safe and healthy workplace for employees, minimize injuries and illnesses, reduce AbbVie’s environmental footprint, and maintain regulatory compliance.

In 2016, more than 6,000 employees volunteered in more than 50 countries across the globe. They worked to improve and refurbish libraries, renovate buildings, landscape and garden, gather and collect books for schoolchildren, assemble furniture, paint walls, make repairs and much more.  During AbbVie’s annual volunteering event, Week of Possibilities, the company encourages everyone to participate in various nonprofit organizations and help their local communities.  Whether donating to their annual Employee Giving Campaign or partnering with organizations to provide education research, their employees are committed to helping the world become a better place. 

The AbbVie Foundation is a nonprofit 501(c)(3) that provides globally respected organizations with funding to promote programs that make a difference to people in need. The Foundation has provided financial support to more than 598 individuals.  This support is done in partnership with Family Reach and in collaboration with four hospitals: Packard Children’s Hospital, Ann & Robert H. Lurie Children’s Hospital, Children’s Medical Center at UMass Memorial Medical Center and Floating Hospital for Children at Tufts Medical Center.

Lastly, theAbbVie Energy Policy’s focus is always on what matters most—their patients and their people.They recognize the importance of social responsibility and the need to establish a sound energy policy to minimize their impact on the environment by taking steps to reduce carbon emissions through the efficient use of energy in developing and delivering their products.  They are committed to a strong energy management program which includes incorporating energy efficient design into the construction of their new buildings, plants and facilities and partnering with key suppliers and vendors on emission reduction improvements.  

AbbVie is passionate about their work and responsible in their actions.  It’s both what they do and how they do it that matter.  Their 125-year legacy provides AbbVie a set of deeply held values.  Theircommitment to thesevalues of pioneering leading edge science, achieving customer-focused outcomes, Caring and Enduring is the reason behind their success.  Patients are not just the recipients, but the reason behind their science.  For these reasons, we recognize AbbVie as a Shining Light Company!

 

 

DISCLOSURE: Shining Light Companies are exemplary companies who live out the Golden Rule in their business practices, demonstrate strong servant leadership and create compelling value through the products and services they offer. This is intended for general information purposes concerning only the values, corporate culture and business practices of the companies being spotlighted. It DOES NOT incorporate any analysis of the companies’ investment merit based on intrinsic value, fundamental analysis, etc. This must not be construed as investment advice or a buy/sell recommendation. These companies may or may not be included in our LightPoint Portfolios at any given time.