AbbVie updates first-quarter earnings outlook after completing ImmunoGen acquisition, reflecting $0.04/share dilutive impact.

AbbVie, a pharmaceutical company, has revised its Q1 2024 earnings outlook due to the impact of its recent acquisition of ImmunoGen, a cancer drugmaker. The adjusted diluted EPS is now expected to be between $2.26 and $2.30, compared to the previous range of $2.30 to $2.34. The update takes into account a $0.04/share dilutive impact from the ImmunoGen acquisition. The deal's completion has led to ImmunoGen stock ceasing trading on the Nasdaq stock exchange. Despite this revision, AbbVie has reaffirmed its full-year 2024 adjusted diluted EPS guidance of $11.05 to $11.25.

February 12, 2024
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