AbbVie bets that nearly $20B in deals can bring it into the post-Humira future
The owner of the world’s biggest drug has finally answered the question about what to do when that product goes away.
Within the space of six days, AbbVie announced two major deals — one in neuroscience and the other in cancer — that will chart the company’s future as sales from Humira deteriorate in the face of competition from cheaper biosimilars.
The planned acquisitions of Cerevel ($8.7B) and ImmunoGen ($10.1B) give the Chicago-area pharma giant immediate access to an approved antibody-drug conjugate, which is poised to become a blockbuster, and a deep neuroscience pipeline that CEO Rick Gonzalez thinks will bear out in “multi-billion dollars sales potential” and add to the company’s existing neuro portfolio. And it may quiet some of the criticism about the “lack of a shiny object” in its pipeline.
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