AbbVie lowers 2024 profit forecast on acquisition-related expenses | WKZO

(Reuters) – AbbVie on Wednesday cut its adjusted profit forecast for 2024 as the drugmaker expects to incur $937 million in acquisition-related expenses.

The company now expects full-year adjusted earnings of $10.61 to $10.81 per share, compared with its previous forecast of $11.13 to $11.33, according to a regulatory filing.

Analysts were expecting $11.25 per share, according to LSEG data.

The drugmaker also lowered second-quarter adjusted earnings to $2.53-$2.57 per share from $3.05-$3.09, including expenses related to partnerships, licensing agreements and other asset acquisitions.

(Reporting by Mariam Sunny in Bengaluru; Editing by Shinjini Ganguli)