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Revised GAAP earnings guidance for AbbVie Inc for the Financial Year ending December 31, 2014 and Third Quarter ending September 30, 2014; Confirms Adjusted Earnings Guidance
Date:9/3/2014

NORTH CHICAGO, Ill., Sept. 3, 2014 /PRNewswire/ -- Following the announcement of the collaboration agreements with Calico Life Sciences LLC (Calico) and Infinity Pharmaceuticals Inc (Infinity), AbbVie is amending its earnings guidance on a GAAP basis for the year ending December 31, 2014 and the third quarter ending September 30, 2014 as follows:

Revised Full-Year 2014 GAAP guidance:

Excluding the potential impact of the transaction with Shire, AbbVie is reducing its full year 2014 earnings-per-share guidance range on a GAAP basis to $2.11 to $2.21 after reflecting a reduction of $0.47 per share in relation to the upfront investment as part of the collaboration agreement with Calico and a reduction of $0.11 per share in relation to the upfront investment in the Infinity collaboration.  The full amount of both investments will be treated as a specified expense in 2014.

In addition, excluding the potential impact of the transaction with Shire, AbbVie is confirming its adjusted earnings-per-share guidance for the full-year 2014 of $3.06 to $3.16.

AbbVie's 2014 outlook continues to exclude any potential revenue from the expected 2014 U.S. launch of its hepatitis C (HCV) therapy.

Revised Third-Quarter 2014 GAAP guidance:

Excluding the potential impact of the transaction with Shire, AbbVie is also reducing its Q3 2014 earnings-per-share guidance range on a GAAP basis to $0.41 to $0.43 after reflecting the reduction of $0.27 per share in relation to the initial commitment of the upfront investments in Q3 as stated above.

In addition, excluding the potential impact of the transaction with Shire, AbbVie is confirming its adjusted earnings-per-share guidance for the third quarter 2014 of $0.77 to $0.79, which also continues to exclude any potential revenue from the expected 2014 U.S. launch of its hepatitis C (HCV) therapy.

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SOURCE AbbVie
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