M&A
confidence high
sentiment neutral
materiality 0.75
AbbVie completes $31.26/share ImmunoGen acquisition; reaffirms FY2024 EPS guidance with $0.42 dilution
AbbVie Inc.
- Acquired all outstanding ImmunoGen shares for $31.26 each; ImmunoGen ceases trading on NASDAQ.
- Adds ELAHERE (FRα-positive ovarian cancer ADC) and pipeline assets including IMGN-151 and pivekimab sunirine.
- Reaffirms full-year 2024 adjusted diluted EPS guidance of $11.05-$11.25, now including $0.42 dilution from ImmunoGen and pending Cerevel.
- Updates Q1 2024 adjusted EPS guidance to $2.26-$2.30 from $2.30-$2.34 due to $0.04 dilutive impact from ImmunoGen.
- Expects the acquisition to be accretive to diluted EPS beginning in 2027 and significantly accretive over long term.