ABBV 8-KLOL, dreamin', but did we cause this? From yesterday's ABBV filed 8-K warning about a hit to earnings.
Item 2.02 Results of Operations and Financial Condition
Reported GAAP earnings and adjusted non-GAAP earnings for the second quarter of 2022 are expected to include acquired IPR&D and milestones expense of $269 million on a pre-tax basis, representing an unfavorable impact of $0.14 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended June 30, 2022 have not been finalized and are subject to our financial statement closing procedures. There can be no assurance that our final results will not differ from these preliminary estimates.
While acquired IPR&D and milestones expense may be incurred upon execution of collaborations, licensing agreements, and other asset acquisitions, AbbVie does not forecast acquired IPR&D and milestones expense due to uncertainty of the future occurrence and timing of these transactions. Adjusted diluted earnings per share guidance for 2022 previously announced on April 29, 2022 excluded the impact of acquired IPR&D and milestones expense that may be incurred beyond the first quarter of 2022. AbbVie’s full-year 2022 adjusted diluted earnings per share guidance range, including the impact of Q2 2022 acquired IPR&D and milestones expense, is $13.78 - $13.98. AbbVie’s second quarter 2022 adjusted diluted earnings per share guidance range, including the impact of Q2 2022 acquired IPR&D and milestones expense, is $3.24 - $3.28.
Furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference is guidance for 2022 including the estimated acquired IPR&D and milestones expense incurred during the second quarter of 2022.
The information set forth in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "Filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities thereof, nor shall it be incorporated by reference into future filings by AbbVie Inc. under the Exchange Act or under the Securities Act of 1933, as amended, except to the extent specifically provided in any such filing.
Item 2.02 Results of Operations and Financial Condition
Reported GAAP earnings and adjusted non-GAAP earnings for the second quarter of 2022 are expected to include acquired IPR&D and milestones expense of $269 million on a pre-tax basis, representing an unfavorable impact of $0.14 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended June 30, 2022 have not been finalized and are subject to our financial statement closing procedures. There can be no assurance that our final results will not differ from these preliminary estimates.
While acquired IPR&D and milestones expense may be incurred upon execution of collaborations, licensing agreements, and other asset acquisitions, AbbVie does not forecast acquired IPR&D and milestones expense due to uncertainty of the future occurrence and timing of these transactions. Adjusted diluted earnings per share guidance for 2022 previously announced on April 29, 2022 excluded the impact of acquired IPR&D and milestones expense that may be incurred beyond the first quarter of 2022. AbbVie’s full-year 2022 adjusted diluted earnings per share guidance range, including the impact of Q2 2022 acquired IPR&D and milestones expense, is $13.78 - $13.98. AbbVie’s second quarter 2022 adjusted diluted earnings per share guidance range, including the impact of Q2 2022 acquired IPR&D and milestones expense, is $3.24 - $3.28.
Furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference is guidance for 2022 including the estimated acquired IPR&D and milestones expense incurred during the second quarter of 2022.
The information set forth in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "Filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities thereof, nor shall it be incorporated by reference into future filings by AbbVie Inc. under the Exchange Act or under the Securities Act of 1933, as amended, except to the extent specifically provided in any such filing.