AbbVie Inc.
AbbVie Announces 2023 Fourth Quarter Earnings Guidance Adjustment Due to Acquired IPR&D and Milestones Expense
Summary
AbbVie Inc. announced an adjustment to its 2023 fourth quarter and full-year earnings guidance due to an expected acquired IPR&D and milestones expense of $282 million on a pre-tax basis, impacting GAAP and adjusted non-GAAP diluted earnings per share by $0.15. The full-year 2023 adjusted diluted earnings per share guidance range is now $11.04 - $11.08, and the fourth quarter range is $2.72 - $2.76, inclusive of this expense. These figures are preliminary and subject to change upon the completion of financial statement closing procedures.
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About AbbVie Inc.
AbbVie Inc. is a prominent biopharmaceutical company that focuses on developing innovative therapies addressing some of the world's most challenging diseases. Originating from a 2013 spinoff of Abbott Laboratories, AbbVie is dedicated to the research and production of pharmaceutical products designed to improve patient outcomes globally. With a robust portfolio, the company specializes in treatments for autoimmune conditions, infectious diseases, oncology, and ophthalmology. Among its flagship products is Humira, widely used for rheumatoid arthritis and inflammatory conditions, which has established AbbVie as a leader in this therapeutic area. The company also invests heavily in research and development, resulting in a pipeline of promising drugs designed to cater to unmet medical needs. AbbVie operates in North America and international markets, serving healthcare providers, researchers, and patients. Its commitment to scientific innovation and high-quality manufacturing standards has positioned it as an influential entity in the healthcare and pharmaceuticals sector.
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