(Reuters) – AbbVie on Wednesday lowered its 2024 adjusted profit forecast as the drugmaker expects to incur $937 million in acquisition-related expenses.
The company now expects annual adjusted profit in the range of $10.61 to $10.81 per share, compared with its previous forecast of $11.13 to $11.33, a regulatory filing showed.
Analysts were expecting $11.25 per share, according to LSEG data.
The drugmaker also cut its second-quarter adjusted profit to $2.53 to $2.57 per share from $3.05 to $3.09, including expenses incurred upon execution of collaborations, licensing agreements, and other asset acquisitions.
(Reporting by Mariam Sunny in Bengaluru; Editing by Shinjini Ganguli)
