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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _____________________________________________________
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): January 9, 2025
 
ABBVIE INC.
(Exact name of registrant as specified in its charter)
Delaware 001-35565 32-0375147
(State or other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation)   Identification No.)
 _____________________________________________________
1 North Waukegan Road
North Chicago, Illinois 60064-6400
(Address of principal executive offices)(Zip Code)
 
Registrant’s telephone number, including area code:  (847) 932-7900
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐                      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐                      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐                      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐                      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.01 Par Value ABBV New York Stock Exchange
Chicago Stock Exchange
0.750% Senior Notes due 2027ABBV27New York Stock Exchange
2.125% Senior Notes due 2028ABBV28New York Stock Exchange
2.625% Senior Notes due 2028ABBV28BNew York Stock Exchange
2.125% Senior Notes due 2029ABBV29New York Stock Exchange
1.250% Senior Notes due 2031ABBV31New York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   


Item 2.06  Material Impairments

On January 9, 2025, AbbVie determined that it will record an impairment charge related to the emraclidine intangible asset acquired as part of the acquisition of Cerevel Therapeutics Holdings, Inc.

On November 11, 2024, AbbVie announced that its two Phase 2 EMPOWER trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia who are experiencing an acute exacerbation of psychotic symptoms, did not meet their primary endpoint of showing a statistically significant reduction (improvement) in the change from baseline in the Positive and Negative Syndrome Scale total score compared to the placebo group at week 6. Following the results of these trials, AbbVie began an evaluation of the emraclidine intangible asset for impairment which resulted in a significant decrease in the estimated future cash flows for the product. Based on the revised cash flows, the company estimates a non-cash after-tax intangible asset impairment charge of approximately $3.5 billion.

AbbVie continues to evaluate information with respect to the Cerevel-related clinical development programs and will monitor the remaining intangible assets of approximately $3.6 billion.
 




SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  ABBVIE INC.
   
Date:January 10, 2025By:/s/ Scott T. Reents
  Scott T. Reents
  Executive Vice President,
  Chief Financial Officer

 


v3.24.4
Document and Entity Information Document
Jan. 09, 2025
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Jan. 09, 2025
Entity Registrant Name ABBVIE INC.
Entity Central Index Key 0001551152
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 001-35565
Entity Tax Identification Number 32-0375147
Entity Address, Address Line One 1 North Waukegan Road
Entity Address, City or Town North Chicago
Entity Address, State or Province IL
Entity Address, Postal Zip Code 60064-6400
City Area Code 847
Local Phone Number 932-7900
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $0.01 Par Value
Trading Symbol ABBV
Security Exchange Name NYSE
Common Stock | CHICAGO STOCK EXCHANGE, INC  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $0.01 Par Value
Trading Symbol ABBV
Security Exchange Name CHX
Sec 0.750 Senior Notes Due 2027 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 0.750% Senior Notes due 2027
Trading Symbol ABBV27
Security Exchange Name NYSE
Sec 2.125 Senior Notes due 2028 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 2.125% Senior Notes due 2028
Trading Symbol ABBV28
Security Exchange Name NYSE
Sec 2.625 Senior Notes Due 2028 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 2.625% Senior Notes due 2028
Trading Symbol ABBV28B
Security Exchange Name NYSE
Sec 2.125 Senior Notes Due 2029 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 2.125% Senior Notes due 2029
Trading Symbol ABBV29
Security Exchange Name NYSE
Sec 1.250 Senior Notes due 2031 | NEW YORK STOCK EXCHANGE, INC.  
Entity Information [Line Items]  
Title of 12(b) Security 1.250% Senior Notes due 2031
Trading Symbol ABBV31
Security Exchange Name NYSE
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