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  • Jonathan Poyer

AbbVie Acquisitions Targeting Oncology and Neuroscience

AbbVie has been very active on the M&A front the past few weeks. In November, AbbVie acquired ImmunoGen for $10.1B or $31.26 per share. And just yesterday, AbbVie announced the acquisition of Cerevel Therapeutics for $8.7B or $45 per share.

Over the past month, these acquisitions have seemingly had an impact on AbbVie's stock price:

The November 30th acquisition of ImmunoGen included the flagship cancer therapy ELAHERE, which expanded AbbVie's tumor treatment portfolio. The acquisition further boosts AbbVie's oncology portfolio specifically towards ovarian cancer treatment.

More information can be found here:

On December 6th, AbbVie announced the acquisition of Cerevel Therapeutics to bolster its neuroscience pipeline. Cereval has a robust pipeline of multiple clinical-stage and preclinical candidates with potential across several diseased including schizophrenia, Parkinson's disease, and mood disorders.

More information can be found here:

M&A is picking up in general. The low mark for the year in the biotech select sector was on October 27th. Since then, we have seen a 24.24% increase in the index putting the YTD return at -2.75%.

It is possible that we see this negative return streak for the index correct and from there, who knows what could happen to things. Keep in mind that we have never seen 3-straight years of negative performance. 2 months ago, it looked like it was going to be a certainly. But now...not so much.

2024 is going to be a very, very interesting year.

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