Finance History | 1 North Waukegan Road — One Abbott Share Became One AbbVie Share
· 2013-1
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Finance History | 1 North Waukegan Road — One Abbott Share Became One AbbVie Share
kevin
People treat AbbVie as a North Chicago campus that has always been its own firm.
The company was written out of Abbott on this Lake County road.
AbbVie Inc. was incorporated in Delaware on 10 April 2012 to hold Abbott Laboratories' research-based pharmaceuticals book.
On 1 January 2013 Abbott distributed one share of AbbVie common stock for each Abbott common share of record at the close of business on 12 December 2012.
About 1.58 billion AbbVie shares went out in that distribution. Abbott retained no ownership.
Regular-way trading under the ticker ABBV began on the New York Stock Exchange on 2 January 2013.
The principal executive office was, and remains, 1 North Waukegan Road, North Chicago, Illinois.
The address sits on the same suburban pharmaceutical belt as Abbott Park. The spin did not move the labs. It moved the equity.
The mechanism is a tax-free separation that lets a diversified manufacturer list its drug profit-and-loss as a separate public company, with a one-for-one stock dividend instead of a cash sale.
The research-based line item left Abbott's consolidated statements on that New Year's Day.
The pin is the public frontage on Waukegan Road. The campus interior is not a visitor hall.
Photo: LittleT889, 2024, CC BY 4.0, via Wikimedia Commons. AbbVie headquarters from the public road.
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