AbbVie to acquire Cerevel Therapeutics for approximately $8.7bn
Betsy Goodfellow | December 7, 2023 | News story | Business Services |Â Â AbbVie, Cerevel Therapeutics, Neurology, acquisitionÂ
AbbVie and Cerevel Therapeutics have announced an agreement in which AbbVie will acquire Cerevel Therapeutics for $45 per share, or approximately $8.7bn in total.
This acquisition includes Cerevel’s neuroscience pipeline of various clinical-stage and preclinical candidates with potential indications across multiple disease areas, such as schizophrenia, Parkinson’s disease (PD) and mood disorders. This is intended to compliment AbbVie’s neuroscience portfolio.
Richard A Gonzalez, chairman and chief executive officer of AbbVie, commented: “Our existing neuroscience portfolio and our combined pipeline with Cerevel represents a significant growth opportunity well into the next decade. 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.”
Ron Renaud, president and chief executive officer of Cerevel Therapeutics, added: “Cerevel has always been committed to transforming what is possible in neuroscience. With AbbVie’s long-standing expertise in developing and commercialising medicines on a global scale, Cerevel’s novel therapies will be well positioned to reach more people living with neuroscience diseases. The talented, passionate and dedicated Cerevel team has made great progress over the past five years in developing our innovative suite of potential medicines and we are pleased that AbbVie has recognised the tremendous potential of our pipeline. This acquisition reinforces the renaissance we are seeing in neuroscience and we are proud to be at the forefront.”
Betsy Goodfellow
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