Key Developments: AbbVie Inc (ABBV.K)

ABBV.K on New York Consolidated

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19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

AbbVie Inc reaffirms Q3, FY 2014 adjusted EPS outlook
Wednesday, 3 Sep 2014 04:05pm EDT 

AbbVie Inc:Amends earnings guidance on a GAAP basis for FY 2014 and Q3 2014.Excluding potential impact of the transaction with Shire, AbbVie is reducing FY 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 collaboration agreement with Calico and a reduction of $0.11 per share in relation to upfront investment in the Infinity collaboration.Says excluding potential impact of transaction with Shire, AbbVie is confirming adjusted earnings-per-share guidance for FY 2014 of $3.06 to $3.16.Says excluding the potential impact of transaction with Shire, AbbVie is also reducing 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 initial commitment of the upfront investments in Q3 2014 as stated above.Says excluding the potential impact of the transaction with Shire, AbbVie is confirming adjusted earnings-per-share guidance for Q3 2014 of $0.77 to $0.79.FY 2014 EPS of $3.16 - Thomson Reuters I/B/E/S.Q3 2014 EPS of $0.77 - Thomson Reuters I/B/E/S.  Full Article

AbbVie Inc and Calico announces collaboration
Wednesday, 3 Sep 2014 01:08pm EDT 

AbbVie Inc and Calico:Says R&D collaboration intended to help two companies discover, develop and bring to market new therapies for patients with age-related diseases, including for neurodegeneration and cancer.Under agreement, companies will combine their complementary strengths to accelerate availability of new therapies for age-related diseases.Calico will use scientific expertise to establish world-class research and development facility, with focus on drug discovery and early drug development.AbbVie will provide scientific and clinical development support and its commercial expertise to bring new discoveries to market.AbbVie and Calico will each initially provide up to $250 mln to fund collaboration with potential for both sides to contribute an additional $500 million.Calico will be responsible for research and early development during first five years and continue to advance collaboration projects through Phase 2a for ten year period.AbbVie will support Calico in early R&D efforts and, following completion of Phase 2a studies, will have option to manage late-stage development and commercial activities.Both parties will share costs and profits equally.  Full Article

Infinity and AbbVie announce global strategic collaboration to develop and commercialize Duvelisib (IPI-145) In Oncology
Wednesday, 3 Sep 2014 06:45am EDT 

Infinity Pharmaceuticals Inc and AbbVie Inc:Enters into global collaboration to develop and commercialize duvelisib (IPI-145), Infinity's oral inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma, for the treatment of patients with cancer.Says Duvelisib has shown clinical activity across a broad range of blood cancers, including indolent non-Hodgkin lymphoma (iNHL) and chronic lymphocytic leukemia (CLL).Says Infinity is conducting registration-focused trials evaluating the safety and efficacy of duvelisib, including DYNAMO, a Phase 2 study in patients with iNHL, and DUO, a Phase 3 study in patients with CLL.Says Infinity will receive an upfront payment of $275 million and is eligible to receive up to $530 million in additional payments.Says for achievement of development, regulatory and commercial milestones, including up to $405 million for the achievement of milestones through the first commercial sale of duvelisib.  Full Article

AbbVie receives EMA and FDA orphan drug designation for investigational compound ABT-414 in treatment of Glioblastoma Multiforme
Monday, 4 Aug 2014 08:00am EDT 

AbbVie Inc:Says the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA) have granted orphan drug designation to AbbVie's investigational compound ABT-414.ABT-414 is an anti-epidermal growth factor receptor antibody drug conjugate, which is being evaluated for safety and efficacy in patients with glioblastoma multiforme.1Glioblastoma multiforme is the most common and most aggressive type of malignant primary brain tumor.  Full Article

AbbVie Inc reaffirms FY 2014 EPS outlook; gives Q3 2014 EPS outlook in line with analysts' estimates
Friday, 25 Jul 2014 07:47am EDT 

AbbVie Inc:Confirms its recently-increased diluted earnings-per-share guidance for FY 2014 of $3.06 to $3.16 on an adjusted basis, or $2.69 to $2.79 on a GAAP basis.Expects Q3 2014 diluted earnings-per-share of $0.77 to $0.79 on an adjusted basis, or $0.68 to $0.70 on a GAAP basis.FY 2014 EPS of $3.14 - Thomson Reuters I/B/E/S.Q3 2014 EPS of $0.77 - Thomson Reuters I/B/E/S.  Full Article

AbbVie Inc and Shire Plc reach agreement on terms of recommended combination
Friday, 18 Jul 2014 05:00am EDT 

AbbVie Inc and Shire Plc:Says they have reached agreement on the terms of a recommended combination of Shire with AbbVie.Under the terms of the Merger, Shire shareholders will be entitled to receive: for each Shire Share: 24.44 Pounds in cash and 0.8960 New AbbVie Shares.Immediately following the Transaction, Shire shareholders are expected to hold New AbbVie Shares representing about 25 pct of the issued share capital of New AbbVie, thus offering Shire Shareholders the ability to participate in the future prospects of the Combined Group.AbbVie Stockholders are expected to hold New AbbVie Shares representing about 75 pct of the issued share capital of New AbbVie.AbbVie Board has approved the Transaction and intends to recommend that AbbVie Stockholders vote in favour of the adoption of the US Merger Agreement.In order to undertake the transaction, AbbVie has formed a new company, New AbbVie, which is incorporated in Jersey, Shire's current place of incorporation.Following completion of the transaction, New AbbVie will become the holding company of the Shire Group and the AbbVie Group.  Full Article

Shire Plc updates on AbbVie proposal
Monday, 14 Jul 2014 02:00am EDT 

Shire Plc:Shire requested and has received a further revised proposal from AbbVie on July 13.Revised Proposal comprises 24.44 pounds in cash and 0.8960 shares of new AbbVie per Shire share.Based on the AbbVie share price on 11 July 2014, AbbVie's Revised Proposal has an indicative value of 53.20 pounds per Shire share(1).Under revised proposal, Shire shareholders would own about 25 pct of the combined new AbbVie.Board of Shire has indicated to AbbVie that it would be willing to recommend an offer at the level of the Revised Proposal to Shire shareholders subject to satisfactory resolution of the other terms of offer.Accordingly, Board is in detailed discussions with AbbVie in relation to these terms.Revised Proposal remains subject to the pre-conditions set by AbbVie on July 8 including due diligence and the recommendation of the Board of Shire.There can be no certainty that any firm offer will be made.This statement is being made by Shire with the agreement of AbbVie.  Full Article

AbbVie Inc raises bid for Shire Plc
Tuesday, 8 Jul 2014 07:50am EDT 

AbbVie Inc:Says outline its revised proposal of 22.44 pounds in cash and 0.8568 ordinary shares of New AbbVie for each Shire share.Says fourth proposal represents an indicative value of 51.151 pounds as of July 7.Indicative value of the fourth proposal represents increase of about 11 percent and about a 3 bln pounds increase to indicative offer value of 46.26 Pounds per share.Says increase of 2 pound and about 10 pct in cash per Shire share.Says premium of 75 pct to Shire's closing share price of 29.25 pound on April 17 and about 13 bln pounds of incremental aggregate value for Shire's shareholders.Says premium of 48 pct to Shire's closing share price of 34.67 pounds on May 2 and about 10 bln pounds of incremental aggregate value for Shire's shareholders.Says In addition, this revised indicative proposal increases the ownership that will be held by Shire shareholders to about 24 pct of new holding company of the combined group.  Full Article

AbbVie announces initiation of pivotal phase III study of Veliparib (ABT-888) in patients with advanced breast cancer
Thursday, 26 Jun 2014 08:00am EDT 

AbbVie Inc:Initiates a Phase III clinical trial evaluating the safety and efficacy of its investigational compound, veliparib (ABT-888), when added to carboplatin and paclitaxel, two chemotherapeutic medicines, in patients with advanced breast cancer.  Full Article

AbbVie Inc raises FY 2014 EPS outlook
Monday, 23 Jun 2014 07:45am EDT 

AbbVie Inc:Expects FY 2014 diluted earnings-per-share range of $3.06 to $3.16 on an adjusted basis, or $2.69 to $2.79 on a GAAP basis.FY 2014 outlook continues to exclude any potential revenue from the expected 2014 U.S. launch of its hepatitis C (HCV) therapy which has been granted accelerated review by the U.S. Food and Drug Administration (FDA).FY 2014 EPS of $3.13 - Thomson Reuters I/B/E/S.  Full Article

Express Scripts drops Gilead hep C drugs for cheaper AbbVie rival

- The largest U.S. pharmacy benefit manager said on Monday it has lined up a cheaper price for AbbVie Inc's newly approved hepatitis C treatment and, in most cases, will no longer cover Gilead Sciences Inc's treatments after trying for nearly a year to win a deeper discount.

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