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AbbVie Inc Raises FY 2013 Earnings-per-Share Guidance; Updates on Daclizumab

Friday, 25 Oct 2013 09:12am EDT 

AbbVie Inc announced that it is raising its diluted earnings-per-share guidance for fiscal year 2013 to USD 3.11 to USD 3.13 (from USD 3.07 to USD 3.13) on an adjusted basis, or USD 2.54 to USD 2.56 on a GAAP basis. The Company's fiscal year 2013 adjusted diluted earnings-per-share guidance excludes USD 0.57 per share of intangible asset amortization expense, acquired in-process research and development, and other specified items primarily associated with certain separation-related costs and ongoing restructuring activities. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 earnings-per-share of USD 3.13. In addition, with partner Biogen Idec, AbbVie Inc presented data from sub-analyses of the Phase 2 SELECT and SELECTION studies evaluating daclizumab. Daclizumab High-Yield Process (DAC HYP) is being developed as a once monthly subcutaneous injection for patients with relapsing/remitting multiple sclerosis (MS). DAC HYP is believed to target the activated immune cells that can play a key role in MS without causing general immune cell depletion. A second registrational study, the DECIDE trial, is expected to complete in mid-2014, supporting a potential regulatory submission by year-end 2014. 

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4 Mar 2015