Reported 1 day ago
AbbVie announced a $3.5 billion impairment charge related to the failure of emraclidine, a schizophrenia drug acquired through its purchase of Cerevel Therapeutics. The decision follows disappointing results from a Phase 2 trial, which did not meet its primary endpoints, leading the company to reassess future cash flow projections. Consequently, AbbVie shares experienced a decline following the announcement, although they have seen a 7% increase over the past year.
Source: YAHOO