AbbVie said on Wednesday it would buy Cerevel Therapeutics for about $8.7 billion in cash, its second deal within a week. AbbVie, which focuses on immunology, neurology, oncology, aesthetics and eye care, is on the lookout for new blockbusters as its top-selling arthritis treatment, Humira, faces competition from biosimilars. The company would acquire all outstanding shares of Cerevel for $45 per share, representing a premium of 22% to the stock's Wednesday close.
AbbVie Inc. (NYSE: ABBV) and Cerevel Therapeutics (NASDAQ: CERE) today announced a definitive agreement under which AbbVie will acquire Cerevel Therapeutics and its robust neuroscience pipeline of multiple clinical-stage and preclinical candidates with potential across several diseases including schizophrenia, Parkinson's disease (PD), and mood disorders. The acquisition complements AbbVie's neuroscience portfolio, adding a wide range of potentially best-in-class assets that may transform standa
AbbVie Inc is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. The acquisition would come just days after AbbVie agreed to buy cancer drug developer ImmunoGen Inc for $10.1 billion in cash, highlighting its appetite to place big bets on promising new medicines. AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said.