M&A

AbbVie has announced the acquisition of Cerevel Therapeutics, strengthening its neuroscience pipeline.

Cerevel has multiple programmes across neurological and psychiatric conditions such as schizophrenia, Parkinson’s disease and mood disorders. One example is emraclidine, a next-generation antipsychotic positive allosteric modulator (PAM) of the muscarinic M4 receptor, indicated for the treatment of schizophrenia. There is also tavapadon, a dopamine D1/D5 selective partial agonist for the management of Parkinson’s disease, which is currently in phase 3 studies.

Darigabat, an alpha 2/3/5 selective GABAA receptor PAM for the treatment-resistant epilepsy and panic disorder, is currently in phase 2, and CVL-354 – a kappa opioid receptor (KOR) antagonist currently in phase 1 – has the potential to provide improved efficacy and tolerability compared to existing treatments for major depressive disorder (MDD).

Ron Renaud, president and chief executive officer at Cerevel Therapeutics stated: "The talented, passionate, and dedicated Cerevel team has made great progress over the past five years in developing our innovative suite of potential medicines, and we are pleased that AbbVie has recognised the tremendous potential of our pipeline. This acquisition reinforces the renaissance we are seeing in neuroscience, and we are proud to be at the forefront."

AbbVie have acquired all outstanding common Cerevel stock at $45 per share.

“AbbVie’s acquisition of Cerevel strengthens our foundation in neuroscience and positions us to deliver sustainable long-term performance in to the next decade and beyond,” said Robert A Michael, chief executive officer, AbbVie. “Our new Cerevel colleagues share our commitment to deliver meaningful change for patients living with neurological and psychiatric conditions. We are excited to welcome the talented Cerevel team to AbbVie.”