Abbott has dubbed its new, independent research-based pharmaceutical company AbbVie (pronounced Abb-vee), which it will launch by the end of 2012.

Abbott chose the name as a combination of Abbott and “vie,” which is a reference to the Latin root “vi” meaning “life.”

"The beginning of the name connects the new company to Abbott and its heritage of pioneering science. The 'vie' calls attention to the vital work the company will continue to advance to improve the lives of people around the world," said Richard A. Gonzalez, executive vice president of global pharmaceuticals at Abbott. Gonzalez will be heading AbbVie as chairman and CEO.

The naming of the new company is the latest milestone in the process that began in October 2011, when Abbott announced it would separate into two publicly traded companies, one in diversified medical products and the other in research-based pharmaceuticals. AbbVie, the research-based pharmaceutical company, will include Abbott’s current portfolio of leading proprietary pharmaceuticals and biologics. The diversified medical products company, which will retain the Abbott name, will consist of Abbott’s existing diversified medical products portfolio, including its branded generic pharmaceutical, devices, diagnostics and nutritional businesses.

The AbbVie logo and graphic identity will be unveiled when the new company is launched.