Exclusive-AbbVie nears roughly $8 billion deal for drug developer Cerevel-sources
2023.12.06 16:32
© Reuters. FILE PHOTO: Test tubes are seen in front of a displayed Abbvie logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
By David Carnevali
NEW YORK (Reuters) -AbbVie Inc is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc, a developer of drugs for neurological conditions such as Parkinson’s, people familiar with the matter said on Wednesday.
The acquisition would come just days after AbbVie (NYSE:) agreed to buy cancer drug developer ImmunoGen (NASDAQ:) Inc for $10.1 billion in cash, highlighting its appetite to place big bets on promising new medicines.
AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said.
If the negotiations conclude successfully, a deal could be announced as early as this week, the sources added, requesting anonymity because the matter is confidential.
AbbVie and Cerevel did not immediately respond to requests for comment.
Cerevel shares jumped 14% to $42.20 in afterhours trading in New York on Wednesday.
