Abbott's Research-Based Pharmaceuticals Business to Begin Trading on NYSE Today Under Symbol 'ABBV'
Abbott (NYSE: ABT) today announced it has completed the separation of its research-based pharmaceuticals business, which became AbbVie, a new independent biopharmaceutical company. AbbVie will begin trading independently on the New York Stock Exchange today under the symbol "ABBV."
On Nov. 28, 2012, Abbott's board of directors declared a special dividend distribution of all outstanding shares of AbbVie common stock. For every 1 share of Abbott common shares held as of close of business on Dec. 12, 2012, Abbott shareholders received 1 share of AbbVie common stock on Jan. 1, 2013.
Abbott announced in October 2011 that it was separating into two independent companies, as its businesses evolved into two different investment identities. AbbVie is a research-based specialty biopharmaceuticals company with a broad portfolio of medicines, including leadership in immunology and virology, and a pipeline of breakthrough therapies. Abbott is one of the largest science-based, diversified healthcare companies, with