...February 18, 2025 NEW YORK (S&P Global Ratings) Feb. 18, 2025--S&P Global Ratings today assigned its 'A-' issue-level rating to pharmaceutical company AbbVie Inc.'s (A-/Stable/A-2) proposed senior unsecured notes. The company intends to use the proceeds for general corporate purposes, including refinancing certain near-term debt maturities. Our 'A-' issuer credit rating on AbbVie reflects its strong position in the high-margin, patent-protected prescription drug market, which is relatively insensitive to the business cycle. The company's 2024 revenue of about $56 billion was supported by nine blockbuster drugs across franchises in immunology, oncology, aesthetics, neuroscience, and eye care. Our expectation for low- to mid-single-digit percent revenue growth and the company's product diversity (we expect its top product to account for less than 30% of revenues over the next few years) are broadly in line with or better than those of most peers. We also believe AbbVie has a uniquely strong...
