AbbVie purchases neuroscience developer Cerevel for $8.7 billion

Abbvie announced Wednesday that it will purchase Cerevel Therapeutics and its pipeline of experimental neurological and psychiatric medications for $8.7 billion.

The deal marks the second billion-dollar acquisition by AbbVie in under a week. Facing the prospect of declining sales from two of its best-selling drugs, the company also acquired Immunogen and its ovarian cancer treatment for $10 billion last Thursday.

With the buyout, AbbVie will acquire several clinical-stage molecules for Parkinson’s, schizophrenia, and epilepsy, among other disorders, many of which previously belonged to one of the company’s biggest rivals.

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