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CLAIM #2422 · AbbVie Inc (ABBV) · 2024Q2 earnings call · Jul 25, 2024 · due Aug 5, 2024

I would expect the transaction to close soon, potentially as early as next week.

Rob Michael · CEO

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
I would expect the transaction to close soon, potentially as early as next week.
Reported
we successfully completed the acquisition of Cerevel Therapeutics, strengthening our neuroscience pipeline

In context

spent a lot of time focusing on that and we do see some efficiencies that we can drive, and we do have the ability to leverage that. So there will be expansion operating margin, which you would expect to then let earnings outpace the revenue growth. However, there is this offset and we had a very successful bond offering when we set the financing in place for Cerevel and ImmunoGen. So, but that will be an offset to the operating margin expansion. So you can think of those two as essentially netting one another and then driving that earnings growth in line with the topline. Rob Michael: Hey, Carter. This is Rob. I’ll take your question on Cerevel. Look, we’ve made very good progress with the FTC and have certified substantial compliance to their second request. No divestments are expected. I would expect the transaction to close soon, potentially as early as next week. We’re obviously very excited about the potential best-in-class therapies in Cerevel’s pipeline, especially emraclidine for schizophrenia, davapidon for early Parkinson’s and their core antagonist for major depression. I mean, these assets clearly will be great additions to our neuroscience franchise. Liz Shea: Thanks, Carter. Operator, next question, please. Operator: Next, we’ll go to the line of Vamil Divan. Please go ahead. Vamil Divan: Yeah. Hi. Thanks for taking my question. So, maybe one if I could just, I guess, for Rob, just around sort of your business development priorities now. You obviously did a sort of larger deal last year with Cerevel, ImmunoGen, you’ve done a number of these smaller acquisitions. And I guess I’m trying to get a sense of the kind of balance between investi

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SEC filings for ABBV · Claim quote is verbatim from the 2024Q2 earnings call.