AbbVie's Top Drug To Face Stiff Competition in 2023

NORTH CHICAGO, IL — North Chicago-based AbbVie could see a difficult year ahead as other drug makers will now be able to make copycat versions of the drug manufacturer's top seller, Humira, which accounts for about 37 percent or $20.7 billion of the company's annual revenue, the Chicago Tribune is reporting.

Up until 2023, the company has been able to prevent duplication of the drug through patent litigation and settlements with other drugmakers, but soon, more than a half-dozen copycat versions will hit the market, according to the article. The new competition could mean Humira sales in 2023 could fall from 35 to 55 percent, said AbbVie Board Chairman and CEO Richard Gonzalez.

AbbVie spun off from Abbott Laboratories in 2013 and employee thousands at its North Chicago headquarters. The company's top drug, Humira, is used to treat rheumatoid arthritis, Crohn’s disease, ulcerative colitis and other conditions.

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