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ABBV Mar 2024 190.000 put
- Yahoo Finance Video
AbbVie acquiring Cerevel Therapeutics in $8.7B deal
AbbVie (ABBV) announced it is acquiring neuroscience drug developer Cerevel Therapeutics (CERE) for $45.00 per share, putting the deal value at about $8.7 billion. AbbVie Chairman and CEO Richard Gonzalez said in the announcement that the combined portfolios will present a "significant growth opportunity well into the next decade." The deal comes about a week after AbbVie announced it was acquiring cancer drugmaker ImmunoGen (IMGN) for just over $10 billion. Yahoo Finance Healthcare Reporter Anjalee Khemlani breaks down the deal. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
- Reuters
AbbVie to focus on smaller deals after buying spree
"I would not anticipate similar sized transactions for the foreseeable future," said AbbVie's Chief Operating Officer Robert Michael on a conference call, referring to the company's $8.7 billion buyout of Cerevel Therapeutics announced on Wednesday. AbbVie said it expects to return to "robust growth" in 2025, after its recent buying spree.
- Motley Fool
Is AbbVie Stock a Buy Now?
Leading healthcare company AbbVie (NYSE: ABBV) appears to be hungry for deals to help it diversify its revenue streams. One example of this came in 2020 when it closed on a massive $63 billion acquisition of Botox maker Allergan. To further diversify its operations, the company recently announced another acquisition.
