AbbVie has completed its acquisition of all outstanding shares of Cerevel Therapeutics in an $8.7bn deal.

In December 2023, the companies signed a definitive agreement under which AbbVie agreed to acquire Cerevel for $45 per share in cash.

Cerevel focuses on creating therapies to treat neurological and psychiatric disorders.

Through this acquisition, AbbVie will bolster its neuroscience portfolio by adding complementary assets from Cerevel's pipeline.

AbbVie CEO Robert Michael stated: “AbbVie's acquisition of Cerevel strengthens our foundation in neuroscience and positions us to deliver sustainable long-term performance into the next decade and beyond.

“Our new Cerevel colleagues share our commitment to deliver meaningful change for patients living with neurological and psychiatric conditions. We are excited to welcome the talented Cerevel team to AbbVie.”

Cerevel's pipeline products are aimed at neurological and psychiatric conditions such as Parkinson's disease, schizophrenia and mood disorders.

Emraclidine is an antipsychotic treatment for schizophrenia from Cerevel.

This asset operates as a positive allosteric modulator of the muscarinic M4 receptor. It has shown encouraging results in a Phase I study and is nearing the completion of two Phase II trials intended to support registration.

Another key asset in Cerevel's portfolio is tavapadon, a dopamine D1/D5 selective partial agonist for Parkinson's disease.

Currently in Phase III studies, tavapadon has demonstrated potential as both monotherapy and adjunctive treatment.

A Phase III trial met its primary endpoint, with additional data from ongoing trials expected in the second half of 2024. The acquisition also brings CVL-354, a kappa opioid receptor antagonist targeting major depressive disorder, now in Phase I, and darigabat, an alpha 2/3/5 selective GABAA [γ-aminobutyric acid type A - an inhibitory neurotransmitter] receptor PAM for treatment-resistant epilepsy and panic disorder, currently in Phase II, into AbbVie's neuroscience pipeline.