Abbott Laboratories (NYSE:ABT) has completed the spin-off of its research-based pharmaceuticals business. AbbVie, a new independent biopharmaceutical company will begin trading today on the New York Stock Exchange under the ticker symbol "ABBV." Chairman and Chief Executive Officer Miles White said he wishes the new entity success and says that this is the company's "most transformative action in its 125-year history." The new company will focus on immunology and virology research and currently has a pipeline of breakthrough therapies. Due to the separation, Abbott Labs is seeing a big sell off pre-market, down over 50 percent.
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