1. Navigate to /scrip
  2. Navigate to /scrip/business
  3. Navigate to /scrip/business/deals

AbbVie Spends $10bn On ImmunoGen To Improve Chances In ADC Space

 
• By Joseph Haas
  
Generate a summary of this article
Listen to this article
Beta

Despite writing down $4bn after the failure of Stemcentrx’s Rova-T, AbbVie will bet big again on the cancer antibody-drug conjugate space by paying a high premium for ImmunoGen, including Elahere and its R&D potential.

AbbVie Sign
AbbVie is ready to make another play in the ADC space with ImmunoGen deal • Source: Shutterstock

AbbVie Inc. took a big dive into the increasingly popular antibody-drug conjugate space on 30 November with a $10.1bn buyout offer for ImmunoGen, Inc. and its ovarian cancer ADC Elahere. It also took an attractive takeover option off the board in a field where the Chicago-area big pharma has long wanted to build a significant presence.

Key Takeaways

  • AbbVie will pay $10.1bn to acquire ImmunoGen and Elahere, the first antibody-drug conjugate approved to treat ovarian cancer.

The deal comes six-years after AbbVie made an ill-fated $5.8bn wager on Stemcentrx and its DLL3-targeting ADC candidate for lung...

Scrip Podcast

Keep up with the top pharma business news of the week. On the go.

Scrip brings you a weekly bulletin of top picks.

SpotifyApple PodcastsWebsite

More from Deals

Test Roche Head Of Pharma Strategy Karsten Jung On Rebuilding The Portfolio

 
• By Jessica Merrill

The Swiss pharma company is rebalancing the portfolio, emphasizing best-in-class drugs and moving into new areas like cardiovascular and metabolic disease.

Scrip-Business (Free-1): Top-Selling Drugs 2024: Keytruda, Ozempic And Dupixent Dominate

 
• By Nabil

Merck’s immuno-oncology blockbuster was the world’s best-selling drugs by revenues for the second year in a row, with an almost $12bn lead over its closest rival, Novo Nordisk’s GLP-1 drug Ozempic.

Partnered By

Nancy Testing Partnered Content

This is a short description.

Pierre Fabre Pushes To Be Partner Of Choice For Budding Biotechs

 
• By Kevin Grogan

Francesco Hofmann, head of R&D at the mid-sized French group, tells Scrip that its strategy of not playing in the spaces that are dominated by big pharma is paying off.

More from Business

How A New Healthcare Dialogue Is Driving Market Access In Mexico

Companies stand a better chance of securing public reimbursement in Mexico for innovative medicines if they understand changing approaches to healthcare. The shift means the emergence of managed entry agreements and a focus on economic impact, explains AMIIF, Mexico's research-based pharmaceutical industry association.

How Novartis Is Elevating CVD Outcomes, Driving ‘Personalized Access’ In APMA

Novartis’s APMA chief outlines the company’s tailored approach to deliver long-term outcomes, novel access solutions via innovative financing options and shape the CVD disease ecosystem in the extraordinarily diverse region. Partnering to build AI infrastructure is another key prong.

India Rare Diseases: Court Shows Path For Policy Action, Funding, Price Issues-- Test-2

A court order encompassing funding, drug pricing, clinical trials and overall policy implementation aspects is expected to bring about a paradigm shift in the treatment of rare diseases in India. Sarepta, Roche and Sanofi are among the key players that have been part of pricing discussions.