AbbVie buys Cerevel Therapeutics for $8.7bn

AbbVie has successfully finalized its acquisition of Cerevel Therapeutics for $8.7 billion. The deal was sealed in December 2023, where AbbVie agreed to purchase Cerevel at $45 per share in cash. This strategic acquisition aims to enhance AbbVie’s neuroscience portfolio by integrating Cerevel’s innovative therapies for neurological and psychiatric disorders.

Cerevel Therapeutics is dedicated to developing treatments for various neurological and psychiatric conditions. With this acquisition, AbbVie plans to strengthen its foundation in neuroscience and ensure long-term, sustainable performance into the foreseeable future. Robert Michael, CEO of AbbVie, emphasized that the acquisition of Cerevel represents a significant enhancement to their neuroscience division, positioning the company to deliver meaningful advancements for patients over the long term.

The inclusion of Cerevel’s team is also seen as a valuable addition to AbbVie. Michael expressed enthusiasm about welcoming the talented Cerevel team, highlighting their shared commitment to improving the lives of patients dealing with neurological and psychiatric disorders.

Cerevel brings several promising assets to AbbVie’s neuroscience portfolio. One of the notable products is Emraclidine, an antipsychotic treatment for schizophrenia that functions as a positive allosteric modulator of the muscarinic M4 receptor. Emraclidine has shown promising results in a Phase I study and is nearing completion of two Phase II trials, which are intended to support its registration.

Another significant asset is Tavapadon, a dopamine D1/D5 selective partial agonist designed for the treatment of Parkinson’s disease. Tavapadon is currently in Phase III studies and has shown potential both as a monotherapy and as an adjunctive treatment. A Phase III trial for Tavapadon has already met its primary endpoint, with additional data from ongoing trials expected in the latter half of 2024.

The acquisition also includes CVL-354, a kappa opioid receptor antagonist targeting major depressive disorder, which is currently in Phase I trials. Additionally, Darigabat, an alpha 2/3/5 selective GABAA receptor positive allosteric modulator aimed at treating resistant epilepsy and panic disorder, is in Phase II trials. These assets will now become part of AbbVie’s expanded neuroscience pipeline, providing the company with a robust portfolio of treatments aimed at addressing significant unmet medical needs.

Overall, the acquisition of Cerevel by AbbVie underscores a strategic move to bolster its position in the neuroscience sector. By integrating Cerevel’s pioneering therapies and highly skilled team, AbbVie aims to accelerate the development and delivery of innovative treatments for patients with challenging neurological and psychiatric conditions. The successful completion of this acquisition marks a significant milestone for both companies, setting the stage for future advancements and improved patient outcomes in the field of neuroscience.

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