AbbVie Near Deal for Revolution Medicines
Cancer-drug biotech has a market value around $16 billion
AbbVie ABBV 5.30%increase; green up pointing triangle is in advanced talks to buy cancer-drug biotech Revolution Medicines RVMD 28.87%increase; green up pointing triangle, according to people familiar with the matter.
Revolution Medicines has a market value of around $16 billion. It couldn’t be learned how much AbbVie is offering, but including a typical deal premium, Revolution could be valued at around $20 billion or more.
A deal could come together soon, granted the talks don’t hit any last-minute snags, the people said.