In small acquisition, AbbVie adds Landos and its IBD drug to post-Humira plans

Ab­b­Vie is ac­quir­ing au­toim­mune start­up Lan­dos Bio­phar­ma, ac­cord­ing to a Mon­day an­nounce­ment, aim­ing to cap­i­tal­ize on an IBD drug that re­cent­ly en­tered Phase 2.

The deal will see Ab­b­Vie pay an ap­prox­i­mate up­front ag­gre­gate val­ue of $137.5 mil­lion and of­fer a con­tin­gent val­ue right of an­oth­er $75 mil­lion, pend­ing an undis­closed clin­i­cal mile­stone. Lan­dos’ stock, which closed at $8 apiece on Fri­day, will be val­ued at $20.42 per share in the deal, rep­re­sent­ing a rough­ly 155% pre­mi­um. Ad­di­tion­al­ly, the CVR will pay out at an $11.14 share price, good for a 39% pre­mi­um.

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