AbbVie expands its portfolio of cancer drugs with a billion-dollar acquisition

For each ImmunoGen share, Abbvie offers $31.26, which represents a premium of almost 95 percent on the last closing price. With this acquisition, Abbvie gains access to Elahere, a promising treatment for ovarian cancer. ImmunoGen's shares have more than tripled this year as a result of the positive study results published in May. These results demonstrate that Elahere can significantly prolong the overall survival of previously treated patients.

Elahere is part of the new generation of cancer treatments, known as antibody-drug conjugates (ADCs). This therapy targets the destruction of cancer cells while protecting healthy tissue. As a result, the treatment is expected to be better tolerated than conventional chemotherapy. This approach is also popular among other pharmaceutical companies. In the spring, the US giant Pfizer announced that they will acquire Seagen, one of the pioneers in the field of ADCs, for 43 billion dollars.

The acquisition of ImmunoGen is part of Abbvie's strategy to diversify and expand its business in the field of oncology. This step is also welcomed by industry experts, as cancer treatment continues to be one of the most profitable and fastest-growing areas of the pharmaceutical industry. With the acquisition of ImmunoGen, Abbvie continues its successful course and positions itself as a leading player in the market for cancer drugs.