AbbVie (ABBV) to Buy Landos to Strengthen Autoimmune Portfolio [Yahoo! Finance]
AbbVie Inc. (ABBV)
Last abbvie inc. earnings: 5/1 07:43 am
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Source: Yahoo! Finance
The acquisition, if successfully closed, will add Landos' lead pipeline candidate, NX-13, which is a first-in-class, oral NLRX1 agonist in phase II development for the treatment of ulcerative colitis (UC). The deal will strengthen AbbVie's inflammatory and autoimmune disease portfolio, which includes successful drugs, Skyrizi and Rinvoq. Both drugs are performing extremely well, bolstered by approvals in new indications. These should support top-line growth in the next few years. The drugs have the potential to replace revenues lost from blockbuster drug Humira, which started facing generic erosion in the United States in early 2023. AbbVie will acquire Landos at a price of $20.42 per share in cash. It represents a premium of 160.1% of Landos' Monday's closing price of $7.83 per share. This adds up to a total purchase consideration of approximately $137.5 million. In addition, Landos will also be entitled to one non-tradable contingent value right per share with a value of up to $1
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ABBV
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- 4/26/24 - Miss
ABBV
Sec Filings
- 4/26/24 - Form 8-K
- 4/3/24 - Form 8-K
- 4/2/24 - Form 4
- ABBV's page on the SEC website