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Abbott Selects AbbVie As New Name For Future Research-Based Pharma Co.

Abbott (ABT) announced that AbbVie will be the name of the new, independent research-based pharmaceutical company it expects to launch by the end of 2012.

AbbVie, the research-based pharmaceutical company, will include Abbott's current portfolio of leading proprietary pharmaceuticals and biologics. The diversified medical products company, which will retain the Abbott name, will consist of Abbott's existing diversified medical products portfolio, including its branded generic pharmaceutical, devices, diagnostics and nutritional businesses.

Further, Richard Gonzalez, currently executive vice president, Global Pharmaceuticals, will become chairman and CEO of AbbVie. However, Miles White will remain chairman and CEO of Abbott.

by RTT Staff Writer

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