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AbbVie Gains Lung Cancer ADC, Solid Tumor Platform With Stemcentrx Buyout

Analysts see $5.8bn price tag for the privately held biotech as likely too high, but AbbVie is bullish on lead antibody-drug conjugate's potential in lung cancer. Focus on the acquisition shifted attention during the quarterly earnings call from disappointing sales for Viekira.

As part of its strategy to offset the coming Humira patent cliff, AbbVie Inc. is looking to oncology as a "significant pillar of growth" going forward, a gambit CEO Richard Gonzalez says will benefit greatly from both the pipeline candidates and the solid tumor R&D engine his company will obtain in the $5.8bn purchase of Stemcentrx announced April 28.

The transaction was unveiled in tandem with AbbVie's first quarter earnings call, during which the company reported an 18.2% year-over-year...

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