2022 U.S.-Booked Air Volume: $62M
Consolidated U.S. TMC: BCD
AbbVie more than tripled travel spend
in 2022, with U.S.-booked air volume increasing to $62 million, up from $18
million in 2021, according to BTN estimates.
The biopharmaceutical company saw net
revenues increase 3.5 percent year-on-year in 2022 to $58 billion and employed
about 50,000 people worldwide. AbbVie introduced a hybrid work model in 2022
and further embedded virtual collaboration tools previously introduced during
the pandemic, which could see a sustained reduction in travel for internal meetings.
After losing the U.S. patent on its
top-selling drug Humira this January, the company is now looking to boost sales
of two newer immune drugs that it launched in 2019. CEO Richard Gonzalez in a
Q4 2022 earnings call also signaled the company could pursue new merger and
acquisition opportunities to offset Humira losses, which may lead to further
increases in travel volumes moving forward.