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AbbVie (NYSE: ABBV) sets 2025 EPS guidance after $2.7B IPR&D hit

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

AbbVie Inc. filed a Form 8-K to update investors on how acquired in-process research and development (IPR&D) and milestone expenses will affect its 2025 earnings. For the third quarter of 2025, AbbVie expects to record $2.7 billion of acquired IPR&D and milestones expense on a pre-tax basis, which it says will have an unfavorable impact of $1.50 on both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. The company notes that results for the quarter ended September 30, 2025 are still preliminary and may change.

AbbVie reiterates that it does not forecast acquired IPR&D and milestones expense because the timing and occurrence of such transactions are uncertain, and prior 2025 guidance excluded these expenses beyond the second quarter. Including the third quarter 2025 acquired IPR&D and milestones expense, AbbVie now provides a full-year 2025 adjusted diluted earnings per share guidance range of $10.38 to $10.58, and a third quarter 2025 adjusted diluted earnings per share guidance range of $1.74 to $1.78.

Positive

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Negative

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Insights

AbbVie flags a large IPR&D charge that lowers 2025 EPS guidance but still frames clear adjusted ranges.

AbbVie highlights a substantial $2.7 billion pre-tax acquired IPR&D and milestones expense in Q3 2025, tied to collaborations, licensing deals, and other asset acquisitions. The company states this will reduce both GAAP and adjusted diluted earnings per share for the quarter by $1.50, indicating that these business development activities have a sizeable near-term accounting impact.

Because AbbVie does not forecast such expenses in advance, earlier 2025 adjusted EPS guidance released on July 31, 2025 intentionally excluded IPR&D and milestones beyond Q2. The new ranges explicitly include the Q3 charge, with full-year 2025 adjusted diluted EPS guided to $10.38–$10.58 and Q3 2025 adjusted diluted EPS to $1.74–$1.78. While the filing emphasizes that quarterly results are still subject to closing procedures, investors get a clearer view of how current-year earnings are shaped by AbbVie’s deal-related R&D spending.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Understanding 8-K Material Events →
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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, 2025
 
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
NYSE Texas
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 2025 are expected to include acquired IPR&D and milestones expense of $2.7 billion on a pre-tax basis, representing an unfavorable impact of $1.50 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended September 30, 2025 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 2025 previously announced on July 31, 2025 excluded the impact of acquired IPR&D and milestones expense that may be incurred beyond the second quarter of 2025. AbbVie’s full-year 2025 adjusted diluted earnings per share guidance range, including the impact of third quarter 2025 acquired IPR&D and milestones expense, is $10.38 - $10.58. AbbVie’s third quarter 2025 adjusted diluted earnings per share guidance range, including the impact of third quarter 2025 acquired IPR&D and milestones expense, is $1.74 - $1.78.

Furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference is guidance for 2025 including the estimated acquired IPR&D and milestones expense incurred during the third quarter of 2025.

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, changes to laws and regulations applicable to our industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes and tariffs, and other uncertainties and risks associated with global business operations. 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 2024 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
99.1
 
Guidance including the impact of acquired IPR&D and milestones expense.
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, 2025By:/s/ Scott T. Reents
  Scott T. Reents
  Executive Vice President,
  Chief Financial Officer

 


Source: View Original Filing on SEC EDGAR

FAQ

How will AbbVie (ABBV) account for acquired IPR&D and milestones in Q3 2025?

AbbVie expects third quarter 2025 results to include $2.7 billion of acquired in-process R&D and milestones expense on a pre-tax basis. The company states this will have an unfavorable impact of $1.50 on both GAAP diluted EPS and adjusted non-GAAP diluted EPS for the quarter.

What is AbbVie’s updated full-year 2025 adjusted EPS guidance including Q3 IPR&D expense?

Including the impact of third quarter 2025 acquired IPR&D and milestones expense, AbbVie’s full-year 2025 adjusted diluted earnings per share guidance range is $10.38 to $10.58.

What adjusted EPS does AbbVie expect for Q3 2025 after the IPR&D charge?

AbbVie provides a third quarter 2025 adjusted diluted earnings per share guidance range of $1.74 to $1.78, which it states includes the impact of the acquired IPR&D and milestones expense incurred during the quarter.

Why doesn’t AbbVie forecast acquired IPR&D and milestones expense in advance?

AbbVie explains that acquired IPR&D and milestones expense may be incurred when it executes collaborations, licensing agreements, and other asset acquisitions, and that it does not forecast this expense because the future occurrence and timing of these transactions are uncertain.

Are AbbVie’s Q3 2025 financial results final in this Form 8-K?

No. AbbVie states that results for the quarter ended September 30, 2025 have not been finalized and remain subject to its financial statement closing procedures, and that final results may differ from the preliminary estimates.

Does this AbbVie 8-K incorporate its 2025 guidance into future SEC filings?

The company states that the information in this report, including Exhibit 99.1, is furnished rather than filed, is not subject to Section 18 liability, and will not be incorporated by reference into future Exchange Act or Securities Act filings except where specifically provided.