Investing
AbbVie to buy ImmunoGen for $10.1 billion to boost cancer drug portfolio
© Reuters. FILE PHOTO: A sign stands outside a Abbvie facility in Cambridge, Massachusetts, U.S., May 20, 2021. REUTERS/Brian Snyder/File Photo
(Reuters) – AbbVie (NYSE:) said on Thursday it will buy drugmaker ImmunoGen (NASDAQ:) for $10.1 billion, boosting its presence in the market for cancer treatments.
The drugmaker will pay $31.26 per ImmunoGen share in cash, representing a premium of 94.6% to the last closing price.
This transaction is expected to close in the middle of 2024, AbbVie said.
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