AbbVie Purchases Cerevel Therapeutics for $8.7bn

In a $8.7 billion transaction, AbbVie has successfully acquired all of Cerevel Therapeutics’ remaining stock. Following the terms of their final agreement, which was finalised in December 2023, AbbVie committed to buy Cerevel for cash at the rate of $45 per share.

Developing treatments for neurological and mental conditions is Cerevel’s primary goal. AbbVie will strengthen its neuroscience portfolio with the addition of comparable Cerevel pipeline products through this purchase.

AbbVie CEO Robert Michael commented: “AbbVie’s acquisition of Cerevel strengthens our foundation in neuroscience and positions us to deliver sustainable long-term performance into the next decade and beyond.

He continued: “Our new Cerevel colleagues share our commitment to deliver meaningful change for patients living with neurological and psychiatric conditions. We are excited to welcome the talented Cerevel team to AbbVie.”

Medicines in Cerevel’s pipeline are intended to treat neurological and mental illnesses including mood disorders, schizophrenia, and Parkinson’s disease.