AbbVie and Roche make major acquisitions, FDA approves gene-editing medicine

  • Health-care companies rise on anticipation of continued deal activity
  • AbbVie acquires Cerevel Therapeutics for $8.7 billion
  • Roche Holding to buy Carmot Therapeutics for up to $3.1 billion
  • FDA approves first medicine using gene-editing technology for sickle-cell disease

Health-care companies saw a boost in their stock prices as investors anticipated continued deal activity in the industry. AbbVie recently announced its acquisition of mental-health drug maker Cerevel Therapeutics for $8.7 billion, following its multibillion dollar agreement to buy Immunogen. In another major deal, Swiss drug giant Roche Holding agreed to acquire California-based biotechnology company Carmot Therapeutics for up to $3.1 billion. Additionally, the Food and Drug Administration approved the first medicine using Crispr, or gene-editing technology. Developed by Vertex Pharmaceuticals and Crispr Therapeutics, the medicine called Casgevy has been approved for the treatment of painful sickle-cell disease.

Public Companies: AbbVie (ABBV), Cerevel Therapeutics (N/A), Immunogen (IMGN), Roche Holding (ROG), Carmot Therapeutics (N/A), Vertex Pharmaceuticals (VRTX), Crispr Therapeutics (CRSP)
Private Companies: undefined, undefined
Key People: N/A (N/A)

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Factuality Level: 8
Justification: The article provides specific information about recent deals in the healthcare industry and the approval of a new medicine using gene-editing technology. The information is factual and does not contain any obvious bias or misleading information. However, the article could have provided more context or analysis about the significance of these developments.

Noise Level: 7
Justification: The article provides information on recent deals in the healthcare industry and the approval of a new medicine using gene-editing technology. However, it lacks analysis, evidence, and actionable insights. It also does not explore the consequences of these deals or the potential long-term trends in the healthcare sector.

Financial Relevance: Yes
Financial Markets Impacted: Health-care companies

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses recent deal activity in the health-care sector, which can impact financial markets and companies in the industry.

Reported publicly: www.marketwatch.com