It's official: Abbott Laboratories' (NYSE:ABT) board of directors has approved the company's spinoff of its pharmaceuticals division to form the new company, AbbVie. The approval was expected, of course, but the announcement has given investors some much-awaited details regarding how AbbVie shares will be distributed among current shareholders. In this video, Motley Fool health care analyst Brenton Flynn tells us what the distribution will be, when it's going to take place, and when to make sure you either buy Abbott or sell -- if you'd like to be a part of the transition or avoid it altogether. Also, he discusses what we can expect the stock to do when the first of the year comes -- and why it will be nothing to worry about.

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Brenton Flynn has no positions in the stocks mentioned above. Max Macaluso has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.