Overview

• AbbVie, a pharmaceutical giant, has agreed to acquire neuroscience biotech Cerevel Therapeutics for about $8.7 billion.
• The deal, which is expected to close in mid-2024, will see AbbVie acquire all outstanding shares of Cerevel for $45 per share.
• Cerevel's robust neuroscience pipeline includes drug candidates for multiple diseases, including schizophrenia, Parkinson’s disease, and mood disorders.
• One of Cerevel’s late-stage drug candidates, emraclidine, has shown promise in treating schizophrenia.
• This acquisition follows AbbVie's recent purchase of cancer drug maker ImmunoGen for more than $10 billion.