Timothy J. Richmond, Executive Vice President and Chief Human Resources Officer at AbbVie Inc . (NYSE:ABBV), recently executed a series of stock transactions involving the company’s common stock. According to a filing with the Securities and Exchange Commission, Richmond sold shares totaling approximately $6.07 million. The sales occurred on February 26, 2025, with prices ranging from $201.97 to $203.64 per share. The stock has since climbed to $209.03, trading near its 52-week high amid a strong 16.46% year-to-date performance.
The transactions were part of a prearranged trading plan under Rule 10b5-1, which Richmond entered into on November 27, 2024. Following these sales, Richmond retains ownership of 44,284 shares in AbbVie, maintaining exposure to the pharmaceutical giant, which boasts a market capitalization of $366.61 billion and maintains a robust 3.2% dividend yield.
In addition to the sales, Richmond also exercised options to acquire 22,210 shares at $114.36 per share, amounting to a total transaction value of approximately $2.54 million. This option exercise was conducted under the AbbVie Amended and Restated 2013 Incentive Stock Program.
AbbVie, a leader in the pharmaceutical industry, continues to be under the spotlight with these significant insider transactions.
In other recent news, AbbVie Inc. has completed a $4 billion public offering of senior notes, a strategic financial move to bolster its capital for various corporate needs, including debt repayment and operational funding. The offering includes four series of notes with maturities ranging from 2028 to 2055, and interest rates from 4.650% to 5.600%. In a separate development, AbbVie has entered a collaboration with Xilio Therapeutics to develop tumor-activated immunotherapies, with Xilio receiving $52 million upfront and potentially up to $2.1 billion in milestone payments and royalties. This partnership aims to advance next-generation cancer treatments by combining AbbVie’s oncology expertise with Xilio’s innovative technology. Additionally, AbbVie announced the FDA approval of EMBLAVEO, a novel antibiotic for complicated intra-abdominal infections, marking a significant step in combating antimicrobial resistance. The drug, expected to be available in the U.S. by Q3 2025, is a result of a joint development effort between AbbVie and Pfizer (NYSE:PFE). Meanwhile, Mustang Bio (NASDAQ:MBIO) has sold certain assets to AbbVie and terminated its lease agreement early, resulting in anticipated savings of approximately $2 million in lease-related expenses.
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