AbbVie Acquires Cerevel Therapeutics for $8.7 Billion

The pharmaceutical giant expands its neuroscience portfolio amidst plans for smaller future deals.

AbbVie has acquired Cerevel Therapeutics for $8.7 billion, adding to its portfolio of treatments for psychiatric and neurological disorders.
The deal, expected to close in mid-2024, comes a week after AbbVie's $10 billion acquisition of ImmunoGen for its cancer therapies.
Cerevel's experimental drug emraclidine, currently in Phase 2 clinical trials for schizophrenia, could be crucial for seeking regulatory approval.
AbbVie's COO Robert Michael has stated that the company will focus on smaller deals in the future.
Despite concerns of overlap between Cerevel's and AbbVie's products, AbbVie's CEO Richard Gonzalez has expressed confidence in the deal's approval by the FTC.