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BioPharma Credit PLC on Tuesday noted Abbvie Inc’s completed acquisition of ImmunoGen Inc. BioPharma Credit is a London-based closed-ended investment company. It said it has received $50.6 million in total, including $13.1 million of accrued interest, as a result of the transaction. This comes after BioPharma Credit invested in a senior secured loan to ImmunoGen of up to $62.5 million in up to two tranches last April. The investment firm’s announcement follows a statement from Chicago, Illinois-based pharmaceutical company, AbbVie on Monday in which it stated it had completed the acquisition of ImmunoGen, adding flagship antibody-drug conjugate Elahere for ovarian cancer to its portfolio. It also reaffirmed its 2024 adjusted diluted earnings per share guidance range of $11.05 to $11.25 which now includes a $0.42 per share dilutive impact related to the ImmunoGen acquisition and the pending Cerevel Therapeutics acquisition. It also revised its first-quarter adjusted diluted EPS guidance range from between $2.30 and $2.34 to between $2.26 and $2.30, which includes a $0.04 per share dilutive impact related to the ImmunoGen acquisition. In November, AbbVie had announced the $10.1 billion acquisition of ImmunoGen, worth $31.26 per share. ImmunoGen is a Massachusetts, US-based biotechnology firm. Shares in BioPharma were untraded at 73.20 pence each in London on Tuesday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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