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Proposed acquisition will accelerate AbbVie's entry into the commercial market for ovarian cancer ELAHERE® is a first-in-class antibody-drug conjugate (ADC)...
AbbVie is acquiring rival biotech firm ImmunoGen for $10.1 billion, giving it access to ImmunoGen's flagship ovarian cancer treatment Elahere, which was granted accelerated approval from the FDA last year.
ImmunoGen's oncology portfolio has the potential to help drive long-term revenue growth for AbbVie's oncology franchise.
It’s the largest acquisition of a Massachusetts company this year.
The ImmunoGen deal, which is expected to close in the middle of 2024, is also estimated to be accretive to AbbVie’s diluted earnings per share beginning in 2027.