July 3 (Reuters) - AbbVie ( ABBV ) lowered its 2024

adjusted profit forecast on Wednesday, citing $937 million in

milestones, and research and development expenses related to

acquisitions.

The drugmaker has been focusing on expanding its pipeline

since its blockbuster arthritis drug, Humira, lost patent

protection last year.

The company expects annual adjusted profit in the range of

$10.61 to $10.81 per share, compared with its previous forecast

of $11.13 to $11.33, a regulatory filing showed. Analysts were

expecting $11.25 per share, according to LSEG data.

AbbVie ( ABBV ) also cut its second-quarter adjusted profit to $2.53

to $2.57 per share from $3.05 to $3.09. The company said it

incurred $937 million in expenses during the quarter related to

collaborations, licensing agreements and other asset

acquisitions.

The company is scheduled to report second-quarter results on

July 25.

(Reporting by Mariam Sunny in Bengaluru; Editing by Shinjini

Ganguli)