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Licensing, Acquisitions and Other Arrangements
3 Months Ended
Mar. 31, 2023
Licensing, Acquisitions, and Other Arrangements  
Licensing, Acquisitions, and Other Arrangements Licensing, Acquisitions and Other Arrangements
Other Licensing & Acquisitions Activity
Cash outflows related to acquisitions and investments totaled $353 million for the three months ended March 31, 2023 and $185 million for the three months ended March 31, 2022. AbbVie recorded acquired IPR&D and milestones expense of $150 million for the three months ended March 31, 2023 and $145 million for the three months ended March 31, 2022.
Syndesi Therapeutics SA
In February 2022, AbbVie acquired Syndesi Therapeutics SA and its portfolio of novel modulators of the synaptic vesicle protein 2A, including its lead molecule SDI-118 and accounted for the transaction as an asset acquisition. SDI-118 is a small molecule currently in Phase 1b studies, which is being evaluated to target nerve terminals to enhance synaptic efficiency. Under the terms of the agreement, AbbVie made an upfront payment of $130 million which was recorded to acquired IPR&D and milestones expense in the condensed consolidated statement of earnings in the first quarter of 2022. The agreement also includes additional future payments of up to $870 million upon the achievement of certain development, regulatory and commercial milestones.
Other Arrangements
AbbVie entered into several other arrangements resulting in charges related to upfront payments of $132 million for the three months ended March 31, 2023. Acquired IPR&D and milestones expense also included development milestones of $18 million for the three months ended March 31, 2023 and $15 million for the three months ended March 31, 2022.