Wintrust Business Minute: Abbvie to acquire ImmunoGen for nearly $10 billion

Wintrust Business Lunch

English - November 30, 2023 21:34 - ★★★★★ - 8 ratings
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Steve Grzanich has the business news of the day with the Wintrust Business Minute. North Chicago-based Abbvie has agreed to acquire drug developer ImmunoGen for nearly $10 billion. The deal will bring a new ovarian cancer treatment into the Abbie family of products. It’s a drug that could eventually reap billions of dollars in annual […]

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

North Chicago-based Abbvie has agreed to acquire drug developer ImmunoGen for nearly $10 billion. The deal will bring a new ovarian cancer treatment into the Abbie family of products. It’s a drug that could eventually reap billions of dollars in annual sales and drive long-term revenue growth at Abbvie. The company, however, has cautioned investors that a return on the deal could take time to develop. It says the acquisition could dilute Abbvie earnings until 2027. In a large trial, Elahere improved survival by just under four months in women with advanced ovarian cancer who had failed standard chemotherapy.

Also, McDonald’s new restaurant concept is closer to opening in Bolingbrook. Listen for more below:

https://serve.castfire.com/audio/4466233/4466233_2023-11-30-215733.64kmono.mp3