Overview
- The Wall Street Journal reported AbbVie was in advanced talks to buy Revolution Medicines, while noting no agreement was finalized and another suitor could prevail.
- Hours later, AbbVie told Reuters it is not in discussions with Revolution Medicines, and the biotech declined to comment on market rumors.
- Revolution shares spiked roughly 30% to a record and briefly neared a $20 billion valuation with two volatility halts before dropping 11.5% after hours and sliding again Thursday.
- AbbVie stock rose on the report, then dipped about 1% after the denial and fell further Thursday following a guidance update and a Wolfe Research downgrade.
- Separately, AbbVie lowered its 2025 adjusted EPS outlook to $9.90–$9.94, attributing the change to a fourth‑quarter $1.3 billion in‑process R&D charge.