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AbbVie’s Gonzalez Outlines CEO Succession Process

Humira Erosion Follows Projections

 
• By Joseph Haas

AbbVie may look to an internal successor to Rick Gonzalez once he is satisfied the company is back on a growth trajectory. Skyrizi and Rinvoq continue meteoric growth, with increased sales projections.

AbbVie Building
AbbVie outlined its succession strategy for CEO Rick Gonzalez • Source: Shutterstock (Valeriya Zankovych/Shutterstock)

With AbbVie Inc. not quite a year into US biosimilar competition to top-seller Humira, some shareholders’ thoughts apparently are turning to what is next for the large pharma, especially since the revenue paths for Humira post-US patent expiration and its successors Skyrizi and Rinvoq are in line or better than what was expected. Chairman and CEO Rick Gonzalez discussed succession plans for the top spot during AbbVie’s fourth quarter and full year 2023 sales and earnings call on 2 February.

Previously, Gonzalez had said he would recommend transitioning to his successor once AbbVie had navigated through the worst of Humira’s (adalimumab) loss of exclusivity and when the company appeared on a steady path to the return to growth it has predicted to begin in 2024 and continue through the rest of the decade

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