(Reuters) -U.S. drugmaker Abbvie said on Thursday it does not expect any transactions similar to its $8.7 billion buyout of Cerevel Therapeutics in the foreseeable future and would instead focus on smaller deals to support its growth.
Abbvie is looking at deals in a bid to replace revenue as its blockbuster arthritis drug Humira faces a raft of new competition.
Abbvie’s deal to buy Cerevel is its second large deal in the past week, after it agreed to buy cancer drug developer ImmunoGen for $10.1 billion in cash.
With the two deals, Abbvie said it expects to return to “robust growth” in 2025.
(Reporting by Bhanvi Satija and Khushi Mandowara in Bengaluru; Editing by Krishna Chandra Eluri)
