AbbVie Inc. said on Thursday that it will pay $10.1 billion to acquire ImmunoGen Inc. and its flagship cancer treatment, Elahere, which is used to treat ovarian cancer. The transaction is anticipated to close in the middle of 2024.
"The acquisition of ImmunoGen demonstrates our commitment to deliver on our long-term growth strategy and enables AbbVie to further diversify our oncology pipeline across solid tumors and hematologic malignancies," AbbVie Chief Executive Richard Gonzalez said.
The boards of both companies have authorized the transaction, with the deal subject to regulatory clearances, shareholder approval from ImmunoGen, and other customary closing conditions.
