(Finance) – AbbViean American multinational active in the biopharmaceutical sector, has signed definitive agreement under which it will acquire Cerevel Therapeutics and its robust neuroscience pipeline of multiple clinical and preclinical stage candidates with potential for several diseases including schizophrenia, Parkinson’s disease and mood disorders.
The acquisition integrates the portfolio of neuroscience from AbbVie, adding a broad range of potentially best-in-class resources that could transform standards of care for psychiatric and neurological disorders where significant unmet patient needs remain, AbbVie said in a statement.
Under the terms of the transaction, AbbVie will acquire all outstanding shares of Cerevel for $45.00 per share in cash. The transaction values Cerevel at a equity value of approximately 8.7 billion dollars. The boards of directors of both companies approved the transaction. The transaction is expected to close in mid-2024, subject to Cerevel shareholder approval, regulatory approvals and other customary closing conditions.
“Our existing neuroscience portfolio and our combined pipeline with Cerevel represent a significant growth opportunity well into the next decade,” said Richard Gonzalez, CEO of AbbVie. “AbbVie will leverage its deep commercial capabilities, international infrastructure and on regulatory and clinical expertise to deliver substantial shareholder value with a multi-billion dollar sales potential across Cerevel’s asset portfolio“.