AbbVie to Buy ImmunoGen for More Than $10 Billion
30 Novembre 2023 - 2:13PM
Dow Jones News
By Colin Kellaher
AbbVie has agreed to buy ImmunoGen for about $10.1 billion in a
deal that speeds the biopharmaceutical company's entry into the
commercial market for ovarian cancer.
AbbVie on Thursday said it will pay $31.26 a share in cash for
ImmunoGen, a roughly 95% premium to Wednesday's closing price of
$16.06 for the Waltham, Mass., pharmaceutical company.
With the deal, AbbVie will acquire ImmunoGen's flagship cancer
therapy Elahere, a first-in-class antibody-drug conjugate, or ADC,
approved for platinum-resistant ovarian cancer.
AbbVie, based in North Chicago, Ill., said ImmunoGen's follow-on
pipeline of ADCs complements its own ADC platform and its existing
programs.
AbbVie said it expects to complete the acquisition in the middle
of 2024.
Trading in shares of ImmunoGen was halted premarket on
Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 30, 2023 07:58 ET (12:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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