ABBV · AbbVie Inc.

AbbVie Inc. has provided preliminary guidance for the first quarter of 2026, highlighting a significant $744 million pre-tax acquired IPR&D and milestones expense. This one-time charge, stemming from collaborations, licensing agreements, or asset acquisitions, delivers an unfavorable $0.41 impact to both GAAP and adjusted non-GAAP diluted earnings per share. The updated Q1 adjusted diluted EPS guidance range stands at $2.56 to $2.60, reflecting this hit. For the full year 2026, the adjusted diluted EPS guidance is now $13.96 to $14.16, down from the prior range of $14.37 to $14.57 that excluded any such expenses. Notably, AbbVie maintains its practice of not forecasting IPR&D and milestones expenses beyond Q1 due to their unpredictable timing and occurrence, leaving potential future charges unaccounted for in the outlook. Results for the quarter ended March 31, 2026, remain subject to finalization through financial closing procedures, with no assurance that preliminary estimates will match final figures. This disclosure, furnished via Exhibit 99.1, underscores the volatility introduced by AbbVie's R&D and partnership activities, key to its biopharma strategy, while providing investors with an updated earnings trajectory amid these costs.