A sign stands outside a Abbvie facility in Cambridge, Massachusetts, U.S., May 20, 2021. REUTERS/Brian Snyder/File Photo
AbbVie (ABBV.N) said on Thursday it will buy drugmaker ImmunoGen (IMGN.O) for $10.1 billion, boosting its presence in the market for cancer treatments.
The drugmaker will pay $31.26 per ImmunoGen share in cash, representing a premium of 94.6% to the last closing price.
This transaction is expected to close in the middle of 2024, AbbVie said.
Reporting by Manas Mishra in Bengaluru; Editing by Shinjini Ganguli
