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AbbVie Takes $3.5B Impairment Charge for Failed Schizophrenia Drug
ABBVAbbVie(ABBV) Investopedia·2025-01-11 00:51

Key TakeawaysAbbVie said it would take a $3.5 billion dollar impairment charge related to the failure of a drug it acquired in its purchase of Cerevel Therapeutics.The biotech company reported in November that the schizophrenia drug, emraclidine, didn't reach primary endpoints in a Phase 2 trial.Abbvie explained that following the study, it began an evaluation of the impact of the results, "which resulted in a significant decrease in the estimated future cash flows for the product." AbbVie (ABBV) shares fel ...