An indication stands outside a Abbvie center in Cambridge, Massachusetts, May 20, 2021.
Brian Snyder|Reuters
AbbVie on Wednesday stated it will get neuroscience drugmaker Cerevel Therapeutics for approximately $8.7 billion.
Under the regards to the offer, AbbVie will pay $45 per share forCerevel AbbVie stated it anticipates to finish the acquisition in the middle of2024
Shares of Cerevel leapt 16% after the close Wednesday to almost $43 per share, simply listed below the purchase rate. Shares of Abbvie were down less than 1% in prolonged trading.
The offer is AbbVie’s newest effort to broaden its drug pipeline as its top-selling treatments, such as Humira, deal with generic competitors. Just recently, AbbVie consented to purchase cancer drug designer Immunogen for almost $10 billion.
Cerevel will particularly intensify AbbVie’s portfolio for psychiatric and neurological conditions “where significant unmet needs remain,” according to a release from AbbVie.
Cerevel will bring over drugs such as Emraclidine, a speculative treatment for both schizophrenia and Alzheimer’s illness psychosis, consisting of signs like hallucinations and misconception. That drug is presently in a stage one research study in senior volunteers.
“Our existing neuroscience portfolio and our combined pipeline with Cerevel represents a significant growth opportunity well into the next decade,” stated Richard Gonzalez, CEO and chairman of AbbVie, in a declaration. “AbbVie will leverage its deep commercial capabilities, international infrastructure, and regulatory and clinical expertise to deliver substantial shareholder value with multibillion-dollar sales potential across Cerevel’s portfolio of assets.”
AbbVie stated it will hold a financier teleconference about the offer on Thursday at 8: 00 a.m. ET.
