AbbVie to acquire Stemcentrx for ~$5.8 bln in cash & stock, updates FY16 guidance
- AbbVie will acquire Stemcentrx for approximately $5.8 billion in cash and stock. AbbVie will pay approximately $2.0 billion of the transaction value in cash and fund the remaining portion with stock. In addition, Stemcentrx investors are eligible to receive up to $4 billion in cash for additional, success-based milestone payments for the achievement of certain regulatory and clinical developments
- Expected to close in second-quarter 2016
- AbbVie expects this transaction to be approximately $0.20 dilutive to our ongoing earnings per share in 2016, with accretion beginning in 2020
- As a result, AbbVie is updating its 2016 adjusted diluted earnings per share guidance range to $4.62 to $4.82
- AbbVie will host a conference call on April 28, 2016, at 8:00 am Central time to discuss this transaction and first-quarter 2016 results