AbbVie to acquire neuroscience drugmaker Cerevel Therapeutics for $8.7 billion
Publishing timestamp: 2023-12-07 11:00:34
Summary
AbbVie is set to acquire neuroscience drugmaker Cerevel Therapeutics for approximately $8.7 billion. This acquisition is part of AbbVie's strategy to expand its drug pipeline as its top-selling treatments face generic competition. The deal is expected to be completed in the middle of 2024. Cerevel's portfolio includes drugs for psychiatric and neurological disorders, such as an experimental treatment for schizophrenia and Alzheimer's disease psychosis. AbbVie aims to leverage its commercial capabilities and expertise to generate substantial shareholder value from Cerevel's assets.
Sentiment: NEUTRAL
Keywords: business, pharmaceuticals, biotech and pharmaceuticals, biotechnology, business news, abbvie inc, cerevel therapeutics holdings inc, health care industry,
Source: https://www.cnbc.com/2023/12/06/abbvie-to-acquire-cerevel-therapeutics-for-8point7-billion-.html