$19 Billion in a Week: AbbVie Makes Two Big Bets

Early last week, AbbVie was on every healthcare investment banker’s list. But with two quick deal announcements under its belt in just six days, AbbVie may have transformed its pipeline in cancer and neurology and satiated its deal-making hunger.

The Chicago-area company, best known for selling Botox and immune-disease drug Humira, announced on Thursday of last week it would pay $10.1 billion for biotech ImmunoGen. On Wednesday, it followed up with the acquisition of Cerevel Therapeutics for $8.7 billion.