US pharmaceutical giant AbbVie Inc. (NYSE: ABBV) has announced the successful completion of its acquisition of Cerevel Therapeutics (Nasdaq: CERE), a biotech company based in Cambridge, Massachusetts. AbbVie will pay $45.00 per share for Cerevel, totaling an approximate acquisition value of $8.7 billion. The transaction, initially announced in December 2023, faced a delay in February of this year due to a second request for information from the Federal Trade Commission (FTC) regarding antitrust concerns.
AbbVie sees the acquisition as a strategic fit that complements its existing portfolio, providing access to Cerevel’s pipeline of clinical-stage psychiatric and neurological disorder drugs. These potential best-in-class therapies target conditions such as schizophrenia, Parkinson’s disease, and mood disorders.- Flcube.com
