U.S. pharmaceutical company AbbVie is acquiring neuroscience drug manufacturer Cerevel Therapeutics for $8.7 billion, the company announced Wednesday.
Under the terms of the deal, AbbVie is set to pay $45 per share of Cerevel Therapeutics.
AbbVie said it expects the acquisition to go through sometime during mid-2024.
As a result of the news, Cerevel shares jumped 16% during after-hours trading Wednesday.
