Interview With Rick G. CEO Abbvie Inc.

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anonymous said:
Over the next five years, AbbVie plans to invest about $2.5 billion in capital projects in the U.S., and is evaluating additional expansion of its U.S. facilities, the company said.

Expand what ? Manufacturing? R/D ? Corporate HQ ?
Key words in all these statements "Plans" and "evaluating"


Also, in 2018, the company plans to make a one-time charitable contribution of approximately $350 million to certain not-for-profit organizations based in the U.S., including rebuilding efforts for storm-ravaged Puerto Rico, Chief Executive Richard Gonzalez told analyst on a conference call.

$750M tax deduction for ABBV ? Exactly what non profit orgs ? ( I want to see list ) Why Puerto Rico ? Why not Florida and Texas ?



AbbVie also said it plans to accelerate pension funding by $750 million, and enhance nonexecutive employee compensation.

"Accelerate" C suite pensions ? And only enhance grade 16 and below ?

Shareholders won’t be left out. The company said it is working on a plan to accelerate the growth of its stock dividend and repurchase more of its shares.

Buyback billions of your own stock with corporate tax reform $$


Follow the money trail, it leads to Corporate Leechs banking 90% of Tax reform $$ and throwing rank and file a bone.
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Corporate knew about Rova T data flaws, then had the gall to throw out a stock repurchase of $10B to buy more time as stock gets hammered. It's a SMOKE SCREEN Rick just lost $29 Fkn BILLION in Abbvie market cap. You aren't doing NOTHING Rick, and the BOD should put you out to pasture.
The fairy tale above will never transpire. The $350M charitable non- profit donation will happen as they can write it off and still look good.
 






anonymous said:
Corporate knew about Rova T data flaws, then had the gall to throw out a stock repurchase of $10B to buy more time as stock gets hammered. It's a SMOKE SCREEN Rick just lost $29 Fkn BILLION in Abbvie market cap. You aren't doing NOTHING Rick, and the BOD should put you out to pasture.
The fairy tale above will never transpire. The $350M charitable non- profit donation will happen as they can write it off and still look good.
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GET YOUR FACTS STRAIGHT !!! Our CEO plans a major repurchase as he sees an opportunity to buy ABBV at a bargain price. He is one of the most highly regarded CEOs in bio pharma and has multiple honary doctorates. He is a mentor to future leadership and spends many hours performing charitable works. He is a man of honor, intellect, ability, honesty, compassion, tranquility, and dedication to his flock.
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anonymous said:
How come Ricky didnt go to Swiss Alps Davos summit with Trump ? Vas Narasimhan who will be CEO of Novartis next week and current CEO of Bayer Werner Baumann where there mingling with Trump. Ricky could have discussed Humira price increase and made his case for raising it another 5%.
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YIKES , Maybe rick was smart not going to summit. Would have been caught up in this fake witch hunt !!!!
 






Will we see a similar letter from Rick in the future ?

Dear Colleagues,

Yesterday was not a good day for Novartis. Many of you will have seen media reports regarding Novartis' relationship with Essential Consultants in the United States and many of you will feel disappointed and frustrated. You can read our full statement here. We made a mistake in entering into this engagement and, as a consequence, are being criticized by a world that expects more from us.

Personally and for my family, it was also a difficult day, as unfounded stories spread through the US news. While I was not involved with any aspect of this situation, the facts did not matter. I went to sleep frustrated and tired.

But I woke up this morning full of determination. Determined to fight for the transformative medicines we create and the patients we serve. Determined to fight for this company I deeply love. Determined to fight for all of you so you continue to feel proud, inspired and empowered to transform the health of the world every day. This moment will pass and we will learn. Our medicines however will endure for generations.

What defines us now is as how we respond to this difficult situation. I look to you to remain resilient and keep your focus on serving patients. Together we will respond by continuing our work to profoundly impact human health. Please focus on that noble purpose in this difficult moment — bending the curve of life.

Vas
 






anonymous said:
Will we see a similar letter from Rick in the future ?

Dear Colleagues,

Yesterday was not a good day for Novartis. Many of you will have seen media reports regarding Novartis' relationship with Essential Consultants in the United States and many of you will feel disappointed and frustrated. You can read our full statement here. We made a mistake in entering into this engagement and, as a consequence, are being criticized by a world that expects more from us.

Personally and for my family, it was also a difficult day, as unfounded stories spread through the US news. While I was not involved with any aspect of this situation, the facts did not matter. I went to sleep frustrated and tired.

But I woke up this morning full of determination. Determined to fight for the transformative medicines we create and the patients we serve. Determined to fight for this company I deeply love. Determined to fight for all of you so you continue to feel proud, inspired and empowered to transform the health of the world every day. This moment will pass and we will learn. Our medicines however will endure for generations.

What defines us now is as how we respond to this difficult situation. I look to you to remain resilient and keep your focus on serving patients. Together we will respond by continuing our work to profoundly impact human health. Please focus on that noble purpose in this difficult moment — bending the curve of life.

Vas
Click to expand...
translated: There's a BOHICA coming !
 






President Trump is set to announce his plan tp corral drug prices in a speech set to begin at 2:00 pm ET today. According to administration officials the plan will not include a call to Congress to allow Medicare to negotiate drug prices, a move currently prohibited under federal law.

The plan aims to increase competition by making it easier for generics and biosimilars to reach the market and eliminating certain government rules that prevent seniors from getting lower priced medications. It will also create incentives for lower prices and lower co-pays for patients.

Selected tickers: XLV, VHT, XBI, IYH, RYH, IBB, PJP, XPH, IHE, PPH, BBH, AMGN, BIIB, GILD, CELG, VRTX, OTCQX:RHHBY, ABBV, AGN, BMY, GSK, JNJ, LLY, MRK, NVO, NVS, PFE, SHPG, VRX, TEVA, PRGO, MYL
 






anonymous said:
President Trump is set to announce his plan tp corral drug prices in a speech set to begin at 2:00 pm ET today. According to administration officials the plan will not include a call to Congress to allow Medicare to negotiate drug prices, a move currently prohibited under federal law.

The plan aims to increase competition by making it easier for generics and biosimilars to reach the market and eliminating certain government rules that prevent seniors from getting lower priced medications. It will also create incentives for lower prices and lower co-pays for patients.

Selected tickers: XLV, VHT, XBI, IYH, RYH, IBB, PJP, XPH, IHE, PPH, BBH, AMGN, BIIB, GILD, CELG, VRTX, OTCQX:RHHBY, ABBV, AGN, BMY, GSK, JNJ, LLY, MRK, NVO, NVS, PFE, SHPG, VRX, TEVA, PRGO, MYL
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Hope ABBV holds $90 after POTUS speech targeting drug cost
 






Goodbye Humira. Accelerated approval of biosimilars, a FDA inquiry into patent strategies, and limits on rebates will no doubt put Humira into an early grave. Even if Humira's patents hold, if Trump puts limits on rebates will mean robust biosimilar market penetration upon patent expiration. AbbVie's ability to implement its strategy of getting by on Humira price increases year after year will soon be constrained.
 






anonymous said:
******************
GET YOUR FACTS STRAIGHT !!! Our CEO plans a major repurchase as he sees an opportunity to buy ABBV at a bargain price. He is one of the most highly regarded CEOs in bio pharma and has multiple honary doctorates. He is a mentor to future leadership and spends many hours performing charitable works. He is a man of honor, intellect, ability, honesty, compassion, tranquility, and dedication to his flock.
******************
Click to expand...


The problem with referring to your employees as "his flock" is that it highlights the herd mentality. Sheep aren't exactly celebrated as highly intelligent animals.
 






I try to look at this objectively, rather than as part of the flock. It seems to me that AbbVie's capacity to continually raise U.S. prices of Humira will be limited by policies announced by the HHS Secretary regarding rebates and constraints on PBMs. More significantly, however, will be the increased public attention on price increases. The inability to raise price will put pressure on the organization to begin to reduce costs. This will have to be done anyway as Humira sales decline, but it may be accelerated by Trump. Based on other companies' experience, it will likely start with sales. Get your resumes ready sheep.
 












anonymous said:
I try to look at this objectively, rather than as part of the flock. It seems to me that AbbVie's capacity to continually raise U.S. prices of Humira will be limited by policies announced by the HHS Secretary regarding rebates and constraints on PBMs. More significantly, however, will be the increased public attention on price increases. The inability to raise price will put pressure on the organization to begin to reduce costs. This will have to be done anyway as Humira sales decline, but it may be accelerated by Trump. Based on other companies' experience, it will likely start with sales. Get your resumes ready sheep.
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Good points. Yes there will be serious downward pressure on Humira pricing initatives. Word has it that Leadership is eying 24% price increase. How this happens under present political environment is anyone's guess. Suspect more reasonable to gain about 1/2 that amount. That said there shouldn't be any layoffs but maybe some freeze in hiring.
 












anonymous said:
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And he's a Certified liar too !

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An Article where Ricks lying again and making a bad move ? Where's my $114 price rick ?

AbbVie's management team didn't talk much about the clinical setback for Rova-T. However, Gonzalez did state that the company felt that the market overreacted to the news. And AbbVie put money on the line based on that belief.
Gonzalez said AbbVie accelerated the timing of a $10 billion stock buyback that was originally intended to extend over a two-to-three year period. This stock repurchase is a component of what Gonzalez referred to as AbbVie's second-highest priority in capital deployment: returning cash to shareholders. The other component in that priority, of course, is paying dividends.
 






anonymous said:
An Article where Ricks lying again and making a bad move ? Where's my $114 price rick ?

AbbVie's management team didn't talk much about the clinical setback for Rova-T. However, Gonzalez did state that the company felt that the market overreacted to the news. And AbbVie put money on the line based on that belief.
Gonzalez said AbbVie accelerated the timing of a $10 billion stock buyback that was originally intended to extend over a two-to-three year period. This stock repurchase is a component of what Gonzalez referred to as AbbVie's second-highest priority in capital deployment: returning cash to shareholders. The other component in that priority, of course, is paying dividends.
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Rickey so y'all buy back 71.4M shares at ONLY $105/share? Thats BS !
Funny thing is Stock STILL TANKING ..You'll NEVER see $123 AGAIN !!!
AbbVie Inc
NYSE: ABBV
100.03 USD −2.98 (2.89%)
HA HA HA Read Em and Weep
 






anonymous said:
Rickey so y'all buy back 71.4M shares at ONLY $105/share? Thats BS !
Funny thing is Stock STILL TANKING ..You'll NEVER see $123 AGAIN !!!
AbbVie Inc
NYSE: ABBV
100.03 USD −2.98 (2.89%)
HA HA HA Read Em and Weep
Click to expand...

WTH ? Now its 72.8M shares at $103 per share ?
AbbVie Inc
NYSE: ABBV
99.71 USD DOWN−3.30 (3.20%)
 






anonymous said:
WTH ? Now its 72.8M shares at $103 per share ?
AbbVie Inc
NYSE: ABBV
99.71 USD DOWN−3.30 (3.20%)
Click to expand...



Rick Got BUSTED AGAIN FOR LYING blaming Computershare Trust Co ?

How Low Will She Go ->AbbVie Inc
NYSE: ABBV
98.74 USD − DOWN 4.27 (4.15)
Equity traders were fuming after AbbVie Inc., maker of the world’s biggest-selling medicine, Humira, announced the wrong price in a Dutch auction tender for about $7.5 billion of its own stock.
The North Chicago, Illinois-based pharmaceutical giant last night corrected the price it will pay for shares tendered in the buyback offer to $103 apiece, from $105 announced earlier in the day. AbbVie said some stock was “erroneously omitted from the initial preliminary results” in calculations by a third-party depositary.



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What’s infuriating traders is that AbbVie rose the most in a month during Wednesday’s session -- before the mistake was announced. More than $2 billion worth of shares traded between 9:30 a.m. and 4 p.m. Wednesday on U.S. exchanges at a volume-weighted average price of $102.02, according to data compiled by Bloomberg. It closed at $103.01, up 3.6 percent. On Thursday, the gains were erased, as shares fell as much as 4.1 percent to $98.81.
Only a handful of Dutch auctions have ever exceeded AbbVie’s. Amgen Inc.’s $10 billion offer in March was one. Home Depot Inc. did another for $10.5 billion in shares in 2007.

Michael Samuels, an event-driven portfolio manager for Broome Street Capital, said he has never seen a company change the pricing of a tender hours after releasing initial terms. Seven other U.S. traders who asked not to be named voiced similar dismay.

“I think the same people who made a lot trading the Amgen tender a few months ago decided to play this one as well, and unfortunately many most likely got burned," Samuels said.

A spokesperson for Computershare acknowledged the mistake and said the company apologized for the "one-off issue." Adelle Infante, a spokeswoman for AbbVie, pointed to Wednesday’s press release in response to a request for comment.

Dutch auctions, in which a company asks shareholders to submit stock for repurchase within a specified price range, are one of several ways companies can buy back shares. AbbVie, which set a range of $99-$114 on May 1, said before the market opened Wednesday that it would buy shares at $105 and that about 94.3 percent of stock tendered would be accepted.
Those numbers later changed. After the close, citing a mistake by Computershare Trust Co., its depositary, Abbvie said it would accept about 98.4 percent of shares at $103 each.




 






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