AbbVie to Post $3.5 Billion Impairment Charge on Failed Cerevel Drug
AbbVie said the impairment charge is related to last year’s $8.7 billion bet on Cerevel following the failure of the deal’s key drug candidate, emraclidine, a schizophrenia treatment .
Abbvie to record $3.5 bln charge related to schizophrenia drug
Abbvie said on Friday it would record a charge of about $3.5 billion related to its experimental schizophrenia drug, emraclidine, which recently failed in two mid-stage studies.
AbbVie sees $3.5B impairment charge related to emraclidine
In a regulatory filing, AbbVie (ABBV) stated, “On January 9, 2025, AbbVie determined that it will record an impairment charge related to the
AbbVie to record $3.5B impairment charge for Cerevel drug
AbbVie (NYSE:ABBV) said it expects to record an impairment charge of approximately $3.5B related to the drug emraclidine, which it acquired through its acquisition of Cerevel Therapeutics last year. The drugmaker disclosed in November that two Phase 2 studies of the drug failed to meet their primary endpoint.
Pfizer’s PD-1 drug succeeds; AbbVie writes down $3.5B in Cerevel assets
Sasanlimab, a subcutaneous immunotherapy developed by Pfizer, could help treat bladder cancer. Elsewhere, Royalty Pharma moved to simplify its corporate structure and Biogen made another hire.
AbbVie Takes $3.5B Impairment Charge for Failed Schizophrenia Drug
Key Takeaways AbbVie said it would take a $3.5 billion dollar impairment charge related to the failure of a drug it acquired in its purchase of Cerevel Therapeutics.The biotech company reported in November that the schizophrenia drug,
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AbbVie takes $3.5B hit after emraclidine's phase 2 flop in schizophrenia
The failure of Cerevel's emraclidine in schizophrenia will cost AbbVie an impairment charge of about $3.5 billion, the pharma ...
Health Care Down on Defensive Bias -- Health Care Roundup
Drugmaker AbbVie warned it will post a $3.5 billion impairment charge related to last year's $8.7 billion bet on Cerevel Therapeutics following the failure of the deal's key drug candidate, a ...
Neumora Therapeutics: Tanking On Disastrous MDD Data, Bounce Back Unlikely
Neumora Therapeutics' lead candidate, navacaprant, failed to meet primary and secondary endpoints in its Phase 3 KOASTAL-1 ...
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After one disappointment, AbbVie gets good news out of Cerevel buy
AbbVie's $8.7 billion acquisition of Cerevel Therapeutics showed signs of life this week, following disappointing drug trial results last month. The North Chicago-based drugmaker on Dec. 9 said it ...
AbbVie cuts 2024 profit forecast on acquisition expenses
AbbVie lowered its 2024 adjusted profit forecast on Monday as the drugmaker incurred $1.6 billion in acquisition expenses ...
Companies sold a record $8 trillion of bonds last year amid high demand and lower borrowing costs
Corporate borrowing surged to a record in 2024, up over a third from a year earlier as companies like AbbVie and Cisco looked ...
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Icalcaprant by Cerevel Therapeutics for Bipolar I Disorder: Likelihood of Approval
Icalcaprant is under clinical development by Cerevel Therapeutics and currently in Phase I for Bipolar I Disorder.