AbbVie Lowers 2025 Earnings Forecast After USD 20 Billion Acquisition Spree
AbbVie has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection in 2023.
Bengaluru: AbbVie on Thursday cut its 2025 adjusted profit forecast as the drugmaker expects to incur USD 248 million in acquisition expenses related to milestone payments as well as research and development costs.
The company has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection in 2023.
To that end, the company bought neuroscience drug developer Cerevel Therapeutics, cancer drug developer ImmunoGen and Alzheimer's therapy developer Aliada in 2024 through deals worth over $20 billion in total.
AbbVie expects adjusted annual profit in the range of $11.99 to $12.19 per share, compared with its previous forecast of $12.12 to $12.32 per share.
Analysts on average were expecting full-year profit to be $12.30 per share, according to data compiled by LSEG.
The company also expects first-quarter adjusted profit of $2.34 to $2.38 per share, compared with Wall Street estimates of $2.51 per share.
AbbVie is scheduled to report first-quarter earnings on April 25.
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