| Stage | ABBV | % of rev | LLY | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $17.0B | 100.00% | $24.4B | 100.00% | LLY ×1.44 |
| Gross profit | $12.4B | 73.03% | $20.5B | 83.88% | LLY +10.8pp |
| Operating income | $6.4B | 37.86% | $8.6B | 35.28% | ABBV +2.6pp |
| Pre-tax income | $4.3B | 25.18% | $8.4B | 34.46% | LLY +9.3pp |
| Net income | $3.6B | 21.28% | $6.5B | 26.44% | LLY +5.2pp |
| Stage | ABBV | LLY | Gap · A − B |
|---|---|---|---|
| Revenue | $17.0B100.00% | $24.4B100.00% | LLY ×1.44 |
| Gross profit | 73.03%$12.4B | 83.88%$20.5B | LLY +10.8pp |
| Operating income | 37.86%$6.4B | 35.28%$8.6B | ABBV +2.6pp |
| Pre-tax income | 25.18%$4.3B | 34.46%$8.4B | LLY +9.3pp |
| Net income |
| 21.28%$3.6B |
| 26.44%$6.5B |
| LLY +5.2pp |
ABBV 10-KFeb 20 '26
“In 2025, three wholesale distributors (McKesson Corporation, Cardinal Health, Inc. and Cencora, Inc.) accounted for substantially all of AbbVie's pharmaceutical product sales in the United States.”
LLY 10-KFeb 12 '26
“In 2025, 2024, and 2023, three wholesale distributors in the U.S.—McKesson Corporation, Cencora, Inc., and Cardinal Health, Inc.—each accounted for a significant percentage of our consolidated revenue.”
ABBV 10-KFeb 20 '26
“In 2025, three wholesale distributors (McKesson Corporation, Cardinal Health, Inc. and Cencora, Inc.) accounted for substantially all of AbbVie's pharmaceutical product sales in the United States.”
LLY 10-KFeb 12 '26
“In 2025, 2024, and 2023, three wholesale distributors in the U.S.—McKesson Corporation, Cencora, Inc., and Cardinal Health, Inc.—each accounted for a significant percentage of our consolidated revenue.”