AbbVie to Buy Cerevel Therapeutics for $8.7 Billion -- Update
December 06 2023 - 5:10PM
Dow Jones News
By Ben Glickman
AbbVie will acquire neuroscience-drug maker Cerevel Therapeutics
Holdings for $45 a share, giving the company an equity value of
about $8.7 billion.
The deal is AbbVie's second major acquisition announced in the
last two weeks, after the pharmaceutical giant announced Nov. 30 it
would acquire ImmunoGen for $10 billion.
Cerevel is currently developing potential candidates to treat
schizophrenia, Parkinson's disease and mood disorders.
AbbVie said the deal complements its existing neuroscience
portfolio currently on the market.
"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," said Chief
Executive Richard Gonzalez.
AbbVie said the deal is expected to close in the middle of 2024
and will be accretive to adjusted earnings starting in 2030.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 06, 2023 16:55 ET (21:55 GMT)
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