Key Points
(Bloomberg) -- Pharmaceutical giant AbbVie Inc. is looking to sell at least $13 billion of corporate bonds to help fund its acquisitions of ImmunoGen Inc. and Cerevel Therapeutics Holdings Inc., according to people with knowledge of the matter..
The sale is expected to be announced as soon as Thursday, following fixed-income investor calls on Wednesday, said the people, who asked not to be identified because the discussions are private..
Last week, Bristol Myers Squibb issued $13 billion of bonds to help pay for its acquisitions of Karuna Therapeutics Inc. and RayzeBio Inc., a transaction that garnered more than $85 billion of orders. ..
At the end of 2023, AbbVie agreed to buy cancer drugmaker ImmunoGen for $10.1 billion and biotech company Cerevel in a deal valued at $8.7 billion, two deals that were announced within a span of a week..
Earlier this week, AbbVie said that Richard Gonzalez, it chief executive officer, will retire after over a decade in the role, to be succeeded by Robert Michael, chief operating officer, effective July 1. ..
