AbbVie Writes Off $4 Billion of $5.8 Billion Deal for Stemcentrx

AbbVie Inc. said it expects to take a $4 billion charge on its $5.8 billion takeover of Stemcentrx Inc. and may write down an additional $1 billion after its main cancer drug failed to live up to expectations.

AbbVie said in March it wouldn’t seek accelerated approval from U.S. regulators for the lung cancer drug Rova-T it acquired in the Stemcentrx deal, suggesting that results weren’t as promising as once hoped. In December, it stopped enrolling patients in a late stage trial of the therapy.

The company disclosed the charge in a securities filing Friday. Shares were little changed in ...