Fierce Biotech March 25, 2024
AbbVie has grabbed a wrench to add on some new autoimmune disease options to its pipeline via the acquisition of Landos Biopharma.
The deal values the oral-therapeutic-focused biotech at $137.5 million, with the terms offering $20.42 per share in cash upon closing. AbbVie is also offering a non-tradeable contingent value right at up to $11.14 per share, or an additional $75 million, subject to certain clinical milestones.
AbbVie’s business development team has been incredibly busy over the past few months, snapping up Cerevel Therapeutics in neuroscience and ImmunoGen in oncology for $8.7 billion and $10.1 billion, respectively. But that left immunology, where AbbVie has a major legacy thanks to Humira that just went off patent.
Executives previewed a plan to...
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