AbbVie acquires Cerevel Therapeutics for $45 per share

On August 1, 2024, AbbVie concluded its acquisition of Cerevel Therapeutics, a clinical-stage neuroscience company, to expand its neuroscience and psychiatric medicine portfolio. The deal was finalized at $45 per share.

According to the company’s press release, Cerevel’s pipeline includes multiple neurological and psychiatric drugs in development for various conditions such as schizophrenia, Parkinson’s disease, mood disorders, and more.

Through this acquisition, Cerevel will function under AbbVie, which could offer the company the support of a more prominent pharmaceutical manufacturer while benefiting AbbVie by diversifying and expanding its portfolio.

“AbbVie’s acquisition of Cerevel strengthens our foundation in neuroscience and positions us to deliver sustainable long-term performance into the next decade and beyond," said Robert A. Michael, chief executive officer of AbbVie, in the press release. "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."

The press release highlights multiple of Cerevel’s drugs that were considered throughout the acquisition.

One of the drugs, emraclidine, is currently being researched to treat schizophrenia, which affects over 24 million people globally. Emraclidine is a next-generation antipsychotic that acts as a positive allosteric modulator of the muscarinic M4 receptors. Phase 1b clinical studies have already supported the safety and efficacy of the drug, and phase 2 clinical trials are already in progress.

Another drug, tavapadon, is being explored for managing Parkinson’s disease. Tavapadon is a first-in-class dopamine D1/D5 selective partial agonist with proven efficacy and safety. The drug is currently in phase 3 clinical trials.

CVL-354 is one of Cerevel’s neuroscience drugs used to manage major depressive disorder. The drug, a kappa opioid receptor agonist, is currently in phase 1 clinical trials.

Finally, darigabat, an alpha 2/3/5 selective GABAA receptor positive allosteric modulator, is in phase 2 clinical trials to manage treatment-resistant epilepsy and panic disorder.

As the acquisition goes through and the companies settle, clinical trials are expected to proceed and could yield positive developments in the neuroscience landscape.