- AbbVie (NYSE:ABBV) said Wednesday that its Q2 and fiscal year 2022 results will be negatively impacted by in-process research and development (IPR&D) costs due to acquired assets as well as milestones expense.
- For Q2 2022, AbbVie (ABBV) expects acquired IPR&D and milestones expense of $269 million on a pre-tax basis.
- In an SEC filing, the company said that for Q2, it projects EPS of $3.24-3.28, excluding non-recurring items, down from $3.38-$3.42. Consensus is $3.43. For FY 2022, it now expects EPS of $13.78-13.98, excluding non-recurring items, down from $13.92-$14.12. Consensus is $14.01.
- After its Q1 financial results in late April, AbbVie (ABBV) first lowered its full-year guidance.
- In March, AbbVie (ABBV) said it would acquire Syndesi Therapeutics for $130M upfront and up to $870M in milestone payments.
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