12/7/2023, 1:37 AM (Source: TeleTrader)
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AbbVie to take over Cerevel Therapeutics in $8.7B deal

AbbVie Inc. revealed in a statement it will be acquiring Cerevel Therapeutics Hldg in an agreement valued at $8.7 billion or $45 per share.

The deal is expected to boost AbbVie's neuroscience portfolio, as it will add "a wide range of potentially best-in-class assets that may transform standards of care across psychiatric and neurological disorders where significant unmet needs remain for patients."

The closure of the transaction is anticipated to take place in the middle of 2024, and is subject to "Cerevel shareholder approval, regulatory approvals, and other customary closing conditions."

Baha Breaking News (BBN) / AY