AbbVie emerges from Abbott split

US healthcare giant Abbott has renamed the branded drugs part of its business following its decision to split that part from the medical devices part - creating two separate organisations. The new pharma company, to be launched by the end of 2012, will be called AbbVie, while the medical devices company - which will include the generic drugs and food supplements portfolio - will inherit the existing Abbott name. Richard Gonzalez, currently executive vice president for global pharmaceuticals, will become chief executive and chair of AbbVie.