AbbVie Inc. (ABBV): restructuring charge — AbbVie to record $3.5B impairment on emraclidine after Phase 2 schizophrenia failure

AbbVie Inc.

Non-cash after-tax impairment charge of ~$3.5B on emraclidine intangible asset from Cerevel acquisition.
Two Phase 2 EMPOWER trials failed to meet primary endpoint: no significant reduction in PANSS total score vs placebo at week 6.
Remaining Cerevel-related intangible assets of ~$3.6B continue to be evaluated for potential impairment.
Impairment reflects significant decrease in estimated future cash flows for emraclidine.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

AbbVie Inc. announced a impairment with charges of approximately $3.5 billion affecting emraclidine intangible asset acquired as part of the acquisition of Cerevel Therapeutics Holdings, Inc..

Type: impairment
Charge: approximately $3.5 billion
Affected area: emraclidine intangible asset acquired as part of the acquisition of Cerevel Therapeutics Holdings, Inc.

Exact text from the filing

the estimated future cash flows for the product. Based on the revised cash flows, the company estimates a non-cash after-tax intangible asset impairment charge of approximately $3.5 billion. AbbVie continues to evaluate information with respect to the Cerevel-related clinical development programs and will monitor the remaining intangible assets of approximately $3.6

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Source: SEC EDGAR

accession 0001551152-25-000006

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