ARTICLE | Deals
Building again outside immunology, AbbVie buys Cerevel for $8.7B
On heels of ImmunoGen deal, pharma looks to Pfizer spinout led by Coles, Renaud to add neuroscience candidates nearing clinical readouts
December 6, 2023 11:41 PM UTC
Navigating its post-Humira era, AbbVie has struck its second billion-dollar deal outside of immunology in the past week, this time buying neuroscience company Cerevel for about $8.7 billion.
Guided since shortly after its spinout from Pfizer Inc. (NYSE:PFE) by Chairman Tony Coles, Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE) has advanced a portfolio of neuroscience assets that the pharma had de-prioritized. It has identified three lead programs, including an anti-psychotic, and anti-convulsive and a Parkinson’s disease treatment...