AbbVie records $3.5 billion impairment on Emraclidine asset By Investing.com

Investing.com – AbbVie (NYSE:), a global biopharmaceutical company, announced the recording of a non-cash after-tax impairment charge on an intangible asset. The impairment, which relates to the active ingredient Emraclidine, is expected to be approximately $3.5 billion.

Emraclidine is a drug candidate currently in development for the treatment of schizophrenia and Alzheimer’s disease. AbbVie acquired the rights to the drug as part of its acquisition of Cerevel Therapeutics.

Notwithstanding the impairment, AbbVie continues to actively review information regarding Cerevel’s clinical development programs. In addition, the company will continue to closely monitor remaining intangible assets, valued at approximately $3.6 billion.

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