HIGHOutside partyCustomer
McKesson, Cardinal Health, Cencora
“10-K Item 1: '(McKesson Corporation, Cardinal Health, Inc. and Cencora, Inc.) accounted for substantially all of AbbVie's pharmaceutical product sales in the United States'”
ABBV · Concentration risk · 10-K extracted
AbbVie (ABBV) concentration risks
Updated
The most significant concentration AbbVie discloses is McKesson, Cardinal Health, Cencora, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: AbbVie’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH2
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
single-source suppliers
“10-K Item 1A: 'AbbVie uses raw materials and components in its pharmaceutical and biologic manufacturing processes that may be sourced from single suppliers'”
MEDIUMBuilt-inProduct / Revenue mix
42%
Skyrizi and Rinvoq
“10-K Item 1A: 'Skyrizi and Rinvoq each represented greater than 10% of AbbVie's total net revenues and, in aggregate, these products accounted for approximately 42% of total net revenues in 2025'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24AbbVie's disclosed concentrations sit on three axes, two of them high-share by disclosed size. On the customer side, three distributors — McKesson, Cardinal Health, and Cencora — together account for substantially all of AbbVie's pharmaceutical product sales in the United States; this is a large, structural feature of pharmaceutical distribution rather than an idiosyncratic dependency on any one of them. On the supply side, certain raw materials and components are sourced from single suppliers, another high-share dependency where a disruption at one supplier could interrupt manufacturing. The product dimension is more contained: Skyrizi and Rinvoq each exceeded 10% of total net revenues and in aggregate represented approximately 42% of total net revenues in 2025 — a medium-share, structural concentration in two growth products. Netting these out, the distribution and single-supplier dependencies are the structurally large exposures, while the two-product revenue weight is a moderate concentration that reflects portfolio success rather than fragility.
For the engine’s reasoning on ABBV’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Drug Manufacturers - General
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ABBV● | AbbVie Inc. | 2 | 1 | 0 | 3 |
| AMGN | Amgen Inc. | 2 | 0 | 0 | 2 |
| GILD | Gilead Sciences, Inc. | 1 | 1 | 0 | 2 |
| BMY | Bristol-Myers Squibb Company | 1 | 0 | 0 | 1 |
| BIIB | Biogen Inc. | 0 | 0 | 2 | 2 |
| JNJ | Johnson & Johnson | 0 | 0 | 2 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.