Sirona Biochem Corp V.SBM

AbbVie lowers Q2 and FY 2022 guidance on acquired R&D assets

[Turtle4]

https://seekingalpha.com/news/3854809-abbvie-lowers-q2-and-fy-2022-guidance-on-acquired-research-development-assets-milestones-expense AbbVie (NYSE:ABBV) said Wednesday that its Q2 and fiscal year 2022 results will be negatively impacted by in-process research and development (IPR&D) costs due to acquired assets as well as milestones expense. For Q2 2022, AbbVie (ABBV) expects acquired IPR&D and milestones expense of $269 million on a pre-tax basis. In an SEC filing, the company said that for Q2, it projects EPS of $3.24-3.28, excluding non-recurring items, down from $3.38-$3.42. Consensus is $3.43. For FY 2022, it now expects EPS of $13.78-13.98, excluding non-recurring items, down from $13.92-$14.12. Consensus is $14.01. After its Q1 financial results in late April, AbbVie (ABBV) first lowered its full-year guidance. In March, AbbVie (ABBV) said it would acquire Syndesi Therapeutics for $130M upfront and up to $870M in milestone payments.

[MirrorWorldMan]

Nice find Turtle, maybe Abbvies financial notes will delail the IPR&D's

[Pareto8020]

How sad is it that shareholders have to grind through mandatory financial disclosures to even judge the impact of a "watershed"....."epic "......"company making" deal?   New management can't be brought in soon enough!   On another note.....what the heck is CURE doing for SBM?  Might be behind scenes kind of stuff but for the dough/shares they

[MirrorWorldMan]

$200MM is not unusual for Big Pharma to pay a bunch of white coats for the rights to their molecules. Novartis paid that to a small group of 10 scientists 2 decades ago for the rights to 3 C-Reactive Proteins they developed if I recall.