AbbVie Strikes Again By Teeing Up $8.7bn Offer For Cerevel

 
• By Joseph Haas
  
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A week after bidding more than $10bn for ImmunoGen, AbbVie made one of 2023’s largest acquisitions again, this time betting big on Cerevel and its emraclidine for schizophrenia.

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AbbVie will pay $8.7bn for Cerevel to boost its neurology portfolio • Source: Shutterstock

AbbVie Inc. made a big splash in mergers and acquisitions for the second time in a week on 6 December, announcing an $8.7bn offer to acquire Cerevel Therapeutics Holdings, Inc. on the strength of its Phase II emraclidine for schizophrenia and potentially other neuropsychiatric indications. Together, the Cerevel buyout and the ImmunoGen, Inc. deal announced 30 November are two of the year’s four biggest biopharmaceutical M&A transactions and make the Chicago-area pharma the year’s second-biggest spender.

With two bolt-on deals designed to strengthen its portfolio diversification efforts, AbbVie comes in second to Pfizer Inc. with...

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