Executive Chairman, Abbvie
Search every verified Richard Gonzalez interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Richard Gonzalez, executive chairman of AbbVie, has been involved in discussions regarding the company's financial performance and drug pricing. On the company's Q4 2023 earnings call, Gonzalez stated that AbbVie's growth platform, excluding Humira, delivered full-year sales growth of more than 8% and that the company expects a return to robust growth in 2025. He also noted that AbbVie had received an initial offer on the cancer drug Imbruvica as part of a pricing process by the Centers for Medicare & Medicaid Services (CMS), with a final price expected by September 1, 2024. Gonzalez has previously defended the company's patenting practices, stating that AbbVie patents innovation it believes is meaningful, and has acknowledged that the company spends about $4 billion annually on marketing and advertising. Gonzalez has also faced scrutiny from lawmakers regarding drug pricing and patent strategies. In a 2021 congressional hearing, Representative Katie Porter questioned him about AbbVie's price increases for Imbruvica and the company's spending on stock buybacks and dividends, which Gonzalez said totaled $13 billion in buybacks and $50 billion in dividends from 2013 to 2018. In another hearing, Representative Peter Welch questioned Gonzalez about AbbVie's use of product enhancements to extend patent protection, which Gonzalez said can result in maintaining pricing power. Gonzalez has also been questioned about his knowledge of the inventor of Humira, telling Representative Ro Khanna that he did not know who invented the drug, which Khanna noted was Nobel laureate Gregory Winter.
“We increased our quarterly dividend which we announced in October. Since our inception we have grown our dividend by more than 285 percent.”
“We now anticipate SkyRizzy and Rinvoq will collectively exceed more than $27 billion in sales by 2027 with robust growth continuing into the next decade. This updated forecast reflects an increase of more than $6 billion in Revenue compared to our prior 2027 guidance.”
“I have nothing new to report today but what it indicates is you know we've talked about the criteria that we're going to use to make the decision when we're going to make the transition. That criteria is the same: when we believe that we are comfortable we've navigated the LOE and the rest of the business is performing...”
“We expect adjusted net interest expense of $2.1 billion which includes the partial year cost in 2024 to finance the immunogen and Cellectis transactions. We expect to generate free cash flow of approximately $18 billion in 2024 which includes roughly $1.9 billion in SkyRizzy royalty payments.”
“We have received the initial offer on Imbruvica recently. Because none of us have any experience with this we don't know exactly how that process will proceed. There will be some back and forth between the manufacturer and CMS. CMS has indicated that they'll have the final price by September 1st.”
“There are four key variables that will impact Humira biosimilar adoption: Humira's post-biosimilar access (contracting), how biosimilars will price, how competitive they are (interchangeability and other factors), and their ability to reliably supply the U.S. market. AbbVie has spent years building manufacturing redund...”
“It could be lighter in 2023, which would push more erosion into 2024 — and that would actually be a good thing, giving us higher cash flows in 2023 than what we would be projecting. What's most important to AbbVie is the underlying growth drivers — Skyrisi, Rinvoq, neuroscience and aesthetics — that will sustain the bu...”
“A hundred and thirty thousand dollars.”
“I think it's 169,000. We have 181 but we can agree that there was a significant increase.”
“We acquired Imbruvica when it was launched so AbbVie itself didn't spend any money to create Imbruvica; it was invented by a smaller company, Pharmacyclics.”
“We paid 21 billion dollars for the company.”
“Let me correct one thing that you... and it is not true that we didn't invest in additional indications and additional diseases; as an example we received approval after the development work of graft-versus-host disease.”
“I don't have that number off and we'll be happy to give it to you.”
“Marketing and advertising we spend about four billion dollars a year.”
“If you actually look at just our stock buybacks it would be about 13 billion.”
Access earnings conference call transcripts at: https://news.alphastreet.com/earnings-call-transcripts/ Earnings Infographics: ...
Rep. Katie Porter (D-CA) questions the CEO of Abbvie, a pharmaceutical company, about the massive amounts of money spent ...
AbbVie claims to be leading innovation, but their CEO doesn’t even know the Nobel laureate who discovered their miracle drug. For future reference: it was Gregory Winter, the 2018 Nobel Laureate in Chemistry who has nothing to do with his company. *** Congressman for CA-17 in the Silicon Valley. Working to bring tech jobs in my district and across America. No contributions from PACs or lobbyists.
In the premiere episode of The Technology of Beauty, Dr. Grant Stevens sits down with the Chairman and CEO of AbbVie, Mr. Richard Gonzalez, to discuss his 63-billion dollar acquisition of Allergan, the formation of Allergan Aesthetics, and his plans for R&D and driving innovation in the field of aesthetic medicine. The Technology of Beauty is the show where Dr. Grant Stevens sits down with the movers and shakers of the aesthetics industry and explores the trends and technologies that will shape the future of beauty.
Abbvie CEO Richard Gonzalez joins "Squawk on the Street" to discuss the company's acquisition of Allergan, why the coronavirus pandemic has led to a demand curve, the effectiveness of migraine medication Ubrelvy and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2JdMwO7 » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price u…
CNBC's Meg Tirrell reports on new comments to CNBC from AbbVie CEO Richard Gonzalez on the acquisition of Allergan.
Remarks by: Greg Simon, Executive Director, The White House Moonshot Initiative Introduction by: Edward Lawrence, Retired Partner, Ropes & Gray Moderator: Nancy Snyderman, MD, Medical Advisor, GE Healthymagination Richard Gonzalez, CEO, AbbVie
Sign in to search the full transcript archive, filter by topic, and access every quote from Richard Gonzalez.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →