AbbVie Says Buying Spree Will Add R&D Heft Needed For Long-Term Growth
Cerevel Acquisition For $8.7bn Closely Follows $10.1bn ImmunoGen Buyout
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.
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Acquisition activity in the biopharmaceutical sector saw a strong uptick in deal value and an exponential increase in total deal value during the fourth quarter, according to data from Evaluate.
Plus deals involving Bristol Myers Squibb/Avidity, Aexon/NLS, Boehringer Ingelheim/Phenomic AI, AnaptysBio/Centessa and Biodexa/Adhera/Melior.
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.