Cerevel Makes Progress, But Karuna Still One To Watch In Schizophrenia
Neuroscience Renaissance Continues
Competition to bring new schizophrenia therapies to market is increasing, with the need to demonstrate side-effect improvements over existing drugs especially important.
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Buying Cerevel six days after the ImmunoGen takeout, with a combined value of nearly $19bn, AbbVie thinks it has restocked its pipeline with future blockbusters to drive post-Humira growth.
A week after bidding more than $10bn for ImmunoGen, AbbVie made one of 2023’s largest acquisitions again, this time betting big on Cerevel and its emraclidine for schizophrenia.
Good news in the biopharma industry and the US economy gave public drug developers the boost they needed to raise cash, including Karuna’s $750m offering. Private company financings slowed during the second week of August, but Prellis and Vector BioPharma raised venture capital.