AbbVie Inc. Acquires Capstan Therapeutics in $2.1 Billion Deal
AbbVie Inc., a biotechnology company focused on pharmaceutical products for various therapeutic areas, has announced the acquisition of Capstan Therapeutics, a private CAR-T developer, in a deal valued at up to $2.1 billion.
The acquisition is expected to enhance AbbVie’s autoimmune portfolio and provide access to in vivo cell therapy technology. This move aligns with AbbVie’s strategic objectives and reinforces its commitment to expanding its product offerings.
Key details of the acquisition include:
- Acquisition value: up to $2.1 billion
- Target company: Capstan Therapeutics, a private CAR-T developer
- Expected outcome: strengthening of AbbVie’s autoimmune portfolio and access to in vivo cell therapy technology
Analysts have responded positively to the acquisition, with some reiterating an “Overweight” rating on AbbVie’s stock. The company’s stock price has seen a notable increase in recent days, with some analysts predicting further growth.
AbbVie’s recent developments suggest a continued focus on strategic growth and expansion of its product offerings. The company’s commitment to innovation and investment in emerging technologies is expected to drive future growth and success.