AbbVie cuts earnings forecast due to milestone payments

AbbVie Inc. executives lowered their outlook for the quarter and year in a filing with the Securities and Exchange Commission late Friday, which cited research and development expenses and milestone payments to partners.

AbbVie
ABBV,
+1.87%

said it must pay out $243 million in milestone payments to partners for acquired in-process research and development, or IPR&D, in the fourth quarter, bringing the grand total for the year to $697 million….

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