Industry Update: Biotechnology
VRC is proud to release its latest industry report. The report provides a concise, insightful update on the Biotechnology industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
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ndustry Highlights
- On December 6, 2023, AbbVie Inc. and Cerevel Therapeutics announced a definitive agreement under which AbbVie will acquire Cerevel Therapeutics and its robust neuroscience pipeline of multiple clinical-stage and preclinical candidates with potential across several diseases, including schizophrenia, Parkinson’s disease (PD), and mood disorders for approximately $9.1 billion.
- On December 14, 2023, Pfizer Inc. announced the successful completion of its acquisition of Seagen Inc., a global biotechnology company that discovers, develops, and commercializes transformative cancer medicines. Pfizer completed its acquisition of all outstanding common stock of Seagen for $229 in cash per share, for a total enterprise value of approximately $43 billion
