Reported 1 day ago
AbbVie has revised its 2024 profit forecast downward, citing $1.6 billion in acquisition expenses for milestone payments and R&D costs. Following the loss of patent protection for its flagship drug, Humira, AbbVie has been actively expanding its portfolio by acquiring Cerevel Therapeutics, ImmunoGen, and Aliada for over $20 billion. The new profit expectation is $10.02 to $10.06 per share, down from $10.90 to $10.94, while its Q4 profit is projected to be significantly lower at $2.06 to $2.10 per share.
Source: YAHOO