AbbVie Completes Acquisition of Cerevel Therapeutics
AbbVie (NYSE: ABBV) has completed its acquisition of Cerevel Therapeutics (NASDAQ: CERE), strengthening its neuroscience portfolio. The acquisition brings multiple clinical-stage assets, including emraclidine, a potential best-in-class antipsychotic for schizophrenia, and tavapadon, a first-in-class treatment for Parkinson's disease. AbbVie expects the acquisition to be accretive to adjusted diluted EPS beginning in 2030.
The company reaffirms its 2024 full-year adjusted diluted EPS guidance range of $10.71-$10.91, which includes a $0.19 per share dilutive impact from the Cerevel acquisition. AbbVie also maintains its third-quarter adjusted diluted EPS guidance range of $2.92-$2.96. The acquisition is expected to contribute to AbbVie's long-term performance and complement its existing neuroscience pipeline.
AbbVie (NYSE: ABBV) ha completato l'acquisizione di Cerevel Therapeutics (NASDAQ: CERE), rafforzando il proprio portafoglio nel settore neuroscientifico. L'acquisizione porta con sé diversi asset in fase clinica, tra cui emraclidine, un potenziale antipsicotico di eccellenza per la schizofrenia, e tavapadon, un trattamento innovativo per il morbo di Parkinson. AbbVie prevede che l'acquisizione contribuirà in modo positivo all'EPS diluito rettificato a partire dal 2030.
L'azienda conferma la sua previsione per l'EPS diluito rettificato per l'intero anno 2024, che si attesta tra $10.71 e $10.91, includendo un impatto diluitivo di $0.19 per azione derivante dall'acquisizione di Cerevel. AbbVie mantiene anche la propria stima per l'EPS diluito rettificato del terzo trimestre, compresa tra $2.92 e $2.96. Si prevede che l'acquisizione contribuirà alla performance a lungo termine di AbbVie e completerà il suo attuale pipeline neuroscientifico.
AbbVie (NYSE: ABBV) ha completado la adquisición de Cerevel Therapeutics (NASDAQ: CERE), fortaleciendo su portafolio en neurociencia. La adquisición incluye múltiples activos en etapa clínica, entre ellos emraclidine, un antipsicótico potencialmente de primera clase para la esquizofrenia, y tavapadon, un tratamiento inédito para la enfermedad de Parkinson. AbbVie espera que la adquisición sea positiva para el EPS diluido ajustado a partir de 2030.
La compañía reafirma su rango de orientación del EPS diluido ajustado para todo el año 2024 de $10.71 a $10.91, que incluye un impacto dilutivo de $0.19 por acción derivado de la adquisición de Cerevel. AbbVie también mantiene su rango de orientación del EPS diluido ajustado para el tercer trimestre de $2.92 a $2.96. Se espera que la adquisición contribuya al desempeño a largo plazo de AbbVie y complemente su actual pipeline de neurociencia.
AbbVie (NYSE: ABBV)는 Cerevel Therapeutics (NASDAQ: CERE)의 인수를 완료하여 신경과학 포트폴리오를 강화했습니다. 이번 인수는 여러 임상 단계 자산을 포함하며, 특히 emraclidine은 조현병에 대한 최고의 클래스로 여겨지는 잠재적 항정신병제이고, tavapadon은 파킨슨병을 위한 최초의 치료제입니다. AbbVie는 인수가 2030년부터 조정된 희석 EPS에 긍정적인 영향을 미칠 것으로 기대하고 있습니다.
이 회사는 2024년 전체 연도 조정 희석 EPS 가이던스 범위를 $10.71-$10.91로 reaffirm하며, 이는 Cerevel 인수로 인한 주당 $0.19의 희석 효과를 포함합니다. AbbVie는 또한 3분기 조정 희석 EPS 가이던스 범위를 $2.92-$2.96으로 유지하고 있습니다. 이번 인수는 AbbVie의 장기 성과에 기여하고 기존 신경과학 파이프라인을 보완할 것으로 예상됩니다.
AbbVie (NYSE: ABBV) a finalisé son acquisition de Cerevel Therapeutics (NASDAQ: CERE), renforçant ainsi son portefeuille en neurosciences. Cette acquisition apporte plusieurs actifs en phase clinique, y compris emraclidine, un antipsychotique potentiel de premier ordre pour la schizophrénie, et tavapadon, un traitement de première classe pour la maladie de Parkinson. AbbVie s'attend à ce que l'acquisition ait un impact positif sur l'EPS dilué ajusté à partir de 2030.
L'entreprise réaffirme son intervalle de prévision de l'EPS dilué ajusté pour l'année complète 2024, qui s'élève à $10.71-$10.91, incluant un impact dilutif de $0.19 par action provenant de l'acquisition de Cerevel. AbbVie maintient également son intervalle de prévision de l'EPS dilué ajusté pour le troisième trimestre, qui est de $2.92-$2.96. L'acquisition devrait contribuer à la performance à long terme d'AbbVie et compléter son pipeline de neurosciences existant.
AbbVie (NYSE: ABBV) hat die Übernahme von Cerevel Therapeutics (NASDAQ: CERE) abgeschlossen und stärkt damit sein Neurowissenschafts-Portfolio. Die Übernahme bringt mehrere klinische Entwicklungsprojekte mit sich, einschließlich emraclidine, einem potenziellen erstklassigen Antipsychotikum für Schizophrenie, und tavapadon, einer neuartigen Behandlung für die Parkinson-Krankheit. AbbVie geht davon aus, dass die Übernahme ab 2030 positiv zur adjusted diluted EPS beitragen wird.
Das Unternehmen bekräftigt seine Prognose für das gesamte Jahr 2024 für adjusted diluted EPS im Bereich von $10.71 bis $10.91, was eine verwässernde Auswirkung von $0.19 pro Aktie aus der Cerevel-Übernahme beinhaltet. AbbVie hält auch die Guidance für adjusted diluted EPS im dritten Quartal im Bereich von $2.92 bis $2.96 aufrecht. Die Übernahme wird voraussichtlich zur langfristigen Leistung von AbbVie beitragen und die bestehende Neurowissenschafts-Pipeline ergänzen.
- Acquisition of Cerevel Therapeutics strengthens AbbVie's neuroscience portfolio
- Emraclidine, a potential best-in-class antipsychotic for schizophrenia, is in registration-enabling trials
- Tavapadon, a first-in-class treatment for Parkinson's disease, met primary endpoint in a Phase 3 study
- Acquisition expected to be accretive to adjusted diluted EPS beginning in 2030
- Reaffirmation of 2024 full-year and third-quarter adjusted diluted EPS guidance
- $0.19 per share dilutive impact on 2024 EPS due to Cerevel acquisition
- $0.60 per share unfavorable impact on 2024 EPS from acquired IPR&D and milestones expense
Insights
The acquisition of Cerevel Therapeutics by AbbVie is a significant strategic move that strengthens AbbVie's position in the neuroscience market. This deal, valued at
Key financial points to consider:
- AbbVie has reaffirmed its 2024 full-year adjusted diluted EPS guidance range of
$10.71 -$10.91 , including a$0.19 per share dilutive impact from the Cerevel acquisition. - The company's Q3 2024 adjusted diluted EPS guidance remains at
$2.92 -$2.96 . - The guidance includes an unfavorable impact of
$0.60 per share related to acquired IPR&D and milestones expense incurred year-to-date through Q2 2024.
While the acquisition will be dilutive in the short term, the long-term potential for revenue growth into the next decade is promising. Investors should monitor the progress of Cerevel's pipeline assets, particularly emraclidine and tavapadon, as their success could significantly impact AbbVie's future revenue streams.
AbbVie's acquisition of Cerevel Therapeutics marks a strategic expansion in the neuroscience sector, particularly in areas with high unmet needs. The deal brings several promising candidates to AbbVie's pipeline:
- Emraclidine: A potential best-in-class antipsychotic for schizophrenia, affecting approximately 24 million people worldwide. Its novel mechanism as a muscarinic M4 receptor PAM could offer improved efficacy and tolerability.
- Tavapadon: A first-in-class dopamine D1/D5 selective partial agonist for Parkinson's disease, currently in Phase 3. Its potential use in early-stage Parkinson's could complement AbbVie's existing therapies for advanced stages.
- CVL-354: A Phase 1 kappa opioid receptor antagonist for major depressive disorder, potentially offering better efficacy and tolerability than current treatments.
- Darigabat: A Phase 2 GABAA receptor PAM for treatment-resistant epilepsy and panic disorder.
This diverse pipeline addresses significant markets in neurology and psychiatry. The success of these candidates, particularly emraclidine and tavapadon, could substantially boost AbbVie's neuroscience portfolio and market position in the coming years.
The AbbVie-Cerevel merger represents a strategic consolidation in the competitive neuroscience market. This acquisition addresses several key market dynamics:
- Market Expansion: AbbVie gains access to potential treatments for schizophrenia, early-stage Parkinson's disease and major depressive disorder, expanding its addressable market.
- Pipeline Diversification: The addition of Cerevel's assets complements AbbVie's existing portfolio, potentially reducing reliance on current blockbuster drugs.
- Innovation in Unmet Needs: Cerevel's novel mechanisms of action, particularly in schizophrenia and depression, target areas where current treatments often fall short.
- Long-term Growth Strategy: The expected EPS accretion by 2030 suggests AbbVie is positioning itself for sustained growth in the next decade.
However, investors should note the inherent risks in drug development, particularly in neuroscience where failure rates are historically high. The success of this acquisition will largely depend on the clinical outcomes of key assets like emraclidine and tavapadon. If successful, AbbVie could significantly strengthen its competitive position against other major players in the neuroscience market.
- Cerevel's clinical-stage assets complement AbbVie's emerging neuroscience pipeline and leading on-market brands in psychiatry, migraine and Parkinson's disease
- Emraclidine, a potential best-in-class, next-generation antipsychotic, is in trials designed to be registration enabling for schizophrenia
- Cerevel is a strong strategic fit for AbbVie and has potential to meaningfully impact revenue into the next decade
- AbbVie reaffirms previously issued 2024 full-year adjusted diluted EPS guidance range of
$10.71 -$10.91 $2.92 -$2.96
"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, 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."
There are multiple programs in Cerevel's pipeline across several neurological and psychiatric conditions such as schizophrenia, Parkinson's disease and mood disorders, where there continues to be significant unmet need for patients. Cerevel's pipeline is highly complementary to AbbVie's existing neuroscience portfolio and the completion of the acquisition is an important step forward to delivering new and better tolerated therapies.
Emraclidine, a potential best-in-class, next-generation antipsychotic, is a positive allosteric modulator (PAM) of the muscarinic M4 receptor that is being studied for the treatment of schizophrenia – a disease that affects approximately 24 million people worldwide.1 In a Phase 1b study, emraclidine has shown promising efficacy and safety and is currently completing two Phase 2 trials that were designed to be registration enabling.
Tavapadon, a first-in-class dopamine D1/D5 selective partial agonist for the management of Parkinson's disease, is currently in Phase 3 studies and has potential for both monotherapy and adjunctive treatment. Tavapadon's efficacy and safety-tolerability profile could enable its utility in early Parkinson's disease, becoming a near-term complementary asset to AbbVie's existing symptomatic therapies for advanced Parkinson's disease. Recently, tavapadon met the primary endpoint in a pivotal Phase 3 study and data from additional Phase 3 trials of tavapadon are expected later this year.
CVL-354, currently in Phase 1, is a potential best-in-class kappa opioid receptor (KOR) antagonist that has the potential to provide significantly improved efficacy and tolerability compared to existing treatments for major depressive disorder (MDD). Darigabat, currently in Phase 2, is an alpha 2/3/5 selective GABAA receptor PAM for treatment-resistant epilepsy and panic disorder.
For additional background on the acquisition, please read the announcement press release here and view AbbVie's investor presentation here.
Financial Terms
AbbVie has acquired all outstanding Cerevel common stock for
Full-Year 2024 Outlook
AbbVie is reaffirming its previously issued 2024 full-year adjusted diluted EPS guidance range of
AbbVie is reaffirming its previously issued 2024 third-quarter adjusted diluted EPS guidance range of
__________________ 1 World Health Organization: Schizophrenia Key Facts. Available at: https://www.who.int/news-room/fact- sheets/detail/schizophrenia. January 10, 2022. |
About AbbVie in Neuroscience
At AbbVie, our commitment to preserving personhood of people around the world living with neurological and psychiatric disorders is unwavering. With more than three decades of experience in neuroscience, we are providing meaningful treatment options today and advancing innovation for the future. AbbVie's Neuroscience portfolio consists of approved treatments in neurological conditions, including migraine, movement disorders and psychiatric disorders, along with a robust pipeline of transformative therapies. We have made a strong investment in research and are committed to building a deeper understanding of neurological and psychiatric disorders. Every challenge makes us more determined and drives us to discover and deliver advancements for those impacted by these conditions, their care partners and clinicians. For more information, visit www.abbvie.com.
About AbbVie
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter) and YouTube.
Forward-Looking Statements
Some statements in this news release, including those relating to the acquisition of Cerevel by AbbVie, are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward- looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period, the risk that the businesses will not be integrated successfully, disruption from the transaction making it more difficult to maintain business and operational relationships, negative effects of the consummation of the acquisition on the market price of AbbVie's common stock and/or operating results, significant transaction costs, unknown liabilities, the risk of litigation and/or regulatory actions related to the acquisition or Cerevel's business, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2023 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
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SOURCE AbbVie
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