AbbVie To Buy San Francisco-Based StemCentrx
StemCentrx has a potential lung cancer treatment in late-stage development, and AbbVie said the purchase will help boost its long-term growth and development of cancer treatments.
The Associated Press:
AbbVie Buying Cancer Drugmaker StemCentrx For $5.8 Billion
AbbVie on Thursday reported a boost in first-quarter profit on higher sales of the drug Humira and said it will buy cancer drug developer StemCentrx for more than $5.8 billion. The drugmaker's first-quarter profit rose 32% to $1.35 billion, or 83 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.15 per share. (4/28)