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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| AbbVie Inc | NYSE:ABBV | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 2.98 | 1.85% | 163.79 | 164.25 | 160.74 | 161.85 | 5,850,104 | 01:00:00 |
From Nov 2023 to May 2024
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)
Copyright (c) 2023 Dow Jones & Company, Inc.
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