With the impending spinoff of its branded-drug business, Abbott Labs (NYSE:ABT) is losing a massive blockbuster drug in Humira. It's a confusing event to understand, with many investors left wondering what to do with these two stocks once they're separated. To help investors better understand the upcoming event, I've just released a brand new premium report outlining both Abbott Labs and its spinoff, AbbVie. Below is an outline of the two companies' leadership, a short sample of what you can find inside the full report.
After the split, Miles White will remain chairman and CEO of Abbott while Rick Gonzalez, current VP of pharmaceutical products, will take over as AbbVie's chairman and CEO.
White has held his post since 1998. He was around when Abbott spun out its hospital products division Hospira (NYSE: HSP) in 2004. Since then, Abbott is handily beating the S&P 500. Hospira is trailing the index over that time, but that's only because of recent issues at the company. In the years after the spinout, Hospira shot out of the gate. Only time will tell, but White seems to know how to identify value-creating opportunities for investors.
Gonzalez ran into an issue over an inaccuracy on his resume. He never actually completed his college education nor received a master's degree, both of which were listed on his biography in documents Abbott filed with the SEC. While it's a bit sketchy, especially since the company blamed it on an "administrative error," Gonzalez's track record is more important than whether he completed college. He worked for Abbott for 30 years, retired in 2007, and then came back to the company. Dedication to the company, even if it has a new name, trumps the resume glitch.
I hope you enjoyed this preview of our brand new report on Abbott and the future AbbVie. In the full version, I outline all of the must-know opportunities and risks facing both companies, so be sure to claim this 2-for-1 report by clicking here now.