AbbVie Loses Potential Acquisition Catalyst in Revolution Medicines Deal

13 days ago

Tim Stanovic

"Let's go to Avy. Ay, >> let's go to Avy. We love Pharma M&A news, of course, though this one supposedly uh apparently may not be happening. So Ay shares, ticker ABBV. So those are down just 0.8% 810 of 1% after hours. So the latest news here is that apparently the company saying that it's not in talks to acquire cancer drug maker Revolution Medicines because earlier we did get a report from the Wall Street Journal saying that they could be in advanced talks uh to purchase Revolution. That would have been a deal worth $20 billion. And you know rallied right now. >> Exactly. Yeah. And so very interesting now that we're getting uh this response from AVY clarifying that they are not in talks at the moment. But yeah, the acquisition would have given him a foothold in the pancreatic cancer market that's expected to expand 10fold to more than $3 billion by 2035 accord according to Bloomberg Intelligence and Revolution has a drug uh that it is leading that sector."

The commentary highlights that AbbVie (ABBV) has clarified it is not in talks to acquire Revolution Medicines, defusing earlier acquisition rumors that had suggested a potential $20 billion deal. This lost opportunity removes a catalyst that could have provided AbbVie with a significant entry into an expanding pancreatic cancer market, which is expected to grow substantially by 2035.

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