AbbVie makes second deal in a week, betting $8.7B in cash on CNS biotech Cerevel

AbbVie said Wednesday evening it plans to pay $8.7 billion to acquire neuroscience drugmaker Cerevel Therapeutics in a deal that comes just six days after the Chicago-area Big Pharma said it would pay $10.1 billion for ImmunoGen.

AbbVie had only made one M&A deal this year before announcing the ImmunoGen acquisition, making a small $110 million upfront payment for a Parkinson’s disease startup. Now, it has made the third- and fourth-largest biopharma M&A deals of 2023 so far.

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