Updated: AbbVie to acquire ImmunoGen for $10B in banner year for ADCs

Ab­b­Vie plans to ac­quire Im­muno­Gen for $10.1 bil­lion, the com­pa­nies said Thurs­day morn­ing, in a deal that would ex­pand the Big Phar­ma’s pres­ence in the on­col­o­gy field and mark an ex­it for the 42-year-old Boston biotech.

The Chica­go-area com­pa­ny will pay $31.26 per share in cash to get its hands on Im­muno­Gen’s on­col­o­gy pipeline, which in­cludes Ela­here, the an­ti­body-drug con­ju­gate that’s ap­proved for cer­tain ovar­i­an can­cers.

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