The drugmaker has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection last year.
The company expects annual adjusted profit in the range of $10.61 to $10.81 per share, compared with its previous forecast of $11.13 to $11.33, a regulatory filing showed. Analysts were expecting $11.25 per share, according to LSEG data.
AbbVie (NYSE:ABBV) also cut its second-quarter adjusted profit to $2.53 to $2.57 per share from $3.05 to $3.09. The company said it incurred $937 million in expenses during the quarter related to collaborations, licensing agreements and other asset acquisitions.
The company is scheduled to report second-quarter results on July 25.
Source: Economy - investing.com
