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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _____________________________________________________
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): October 3, 2024
 
ABBVIE INC.
(Exact name of registrant as specified in its charter)
Delaware 001-35565 32-0375147
(State or other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation)   Identification No.)
 _____________________________________________________
1 North Waukegan Road
North Chicago, Illinois 60064-6400
(Address of principal executive offices)(Zip Code)
 
Registrant’s telephone number, including area code:  (847) 932-7900
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐                      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐                      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐                      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐                      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.01 Par Value ABBV New York Stock Exchange
Chicago Stock Exchange
0.750% Senior Notes due 2027ABBV27New York Stock Exchange
2.125% Senior Notes due 2028ABBV28New York Stock Exchange
2.625% Senior Notes due 2028ABBV28BNew York Stock Exchange
2.125% Senior Notes due 2029ABBV29New York Stock Exchange
1.250% Senior Notes due 2031ABBV31New York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   


Item 2.02  Results of Operations and Financial Condition
 
Reported GAAP earnings and adjusted non-GAAP earnings for the third quarter of 2024 are expected to include acquired IPR&D and milestones expense of $82 million on a pre-tax basis, representing an unfavorable impact of $0.04 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended September 30, 2024 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 2024 previously announced on August 1, 2024 excluded the impact of acquired IPR&D and milestones expense that may be incurred beyond the second quarter of 2024. AbbVie’s full-year 2024 adjusted diluted earnings per share guidance range, including the impact of third quarter 2024 acquired IPR&D and milestones expense, is $10.67 - $10.87. AbbVie’s third quarter 2024 adjusted diluted earnings per share guidance range, including the impact of third quarter 2024 acquired IPR&D and milestones expense, is $2.88 - $2.92.

Furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference is guidance for 2024 including the estimated acquired IPR&D and milestones expense incurred during the third quarter of 2024.

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.

Forward-Looking Statements

Some statements in this Current Report on Form 8-K are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2023 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits
Exhibit No. Exhibit
 
104The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).


SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  ABBVIE INC.
   
Date:October 3, 2024By:/s/ Scott T. Reents
  Scott T. Reents
  Executive Vice President,
  Chief Financial Officer

 



AbbVie Inc.
Guidance Including the Impact of Acquired IPR&D and Milestones Expense
(Unaudited)
 
(in millions, except per share data)Quarter Ended September 30, 2024Full-Year Ended December 31, 2024
Acquired IPR&D and Milestones ExpenseAdjusted Diluted EPS RangeAcquired IPR&D and Milestones ExpenseAdjusted Diluted EPS Range
LowHighLowHigh
Previously announced guidance excluding Q3 2024 acquired IPR&D and milestones expense$— $2.92 $2.96 $1,101 $10.71 $10.91 
Q3 2024 acquired IPR&D and milestones expense82 (0.04)(0.04)82 (0.04)(0.04)
Guidance including Q3 2024 acquired IPR&D and milestones expensea
$82 $2.88 $2.92 $1,183 $10.67 $10.87 

a    The Company's 2024 adjusted diluted EPS guidance excludes any impact from acquired IPR&D and milestones expense that may be incurred beyond the third quarter of 2024, as both cannot be reliably forecasted.






    1
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Oct. 03, 2024
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Document Type 8-K
Document Period End Date Oct. 03, 2024
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Entity Incorporation, State or Country Code DE
Entity File Number 001-35565
Entity Tax Identification Number 32-0375147
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Entity Address, City or Town North Chicago
Entity Address, State or Province IL
Entity Address, Postal Zip Code 60064-6400
City Area Code 847
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Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $0.01 Par Value
Trading Symbol ABBV
Security Exchange Name NYSE
Common Stock | CHICAGO STOCK EXCHANGE, INC  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $0.01 Par Value
Trading Symbol ABBV
Security Exchange Name CHX
Sec 0.750 Senior Notes Due 2027 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 0.750% Senior Notes due 2027
Trading Symbol ABBV27
Security Exchange Name NYSE
Sec 2.125 Senior Notes due 2028 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 2.125% Senior Notes due 2028
Trading Symbol ABBV28
Security Exchange Name NYSE
Sec 2.625 Senior Notes Due 2028 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 2.625% Senior Notes due 2028
Trading Symbol ABBV28B
Security Exchange Name NYSE
Sec 2.125 Senior Notes Due 2029 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 2.125% Senior Notes due 2029
Trading Symbol ABBV29
Security Exchange Name NYSE
Sec 1.250 Senior Notes due 2031 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 1.250% Senior Notes due 2031
Trading Symbol ABBV31
Security Exchange Name NYSE
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