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AbbVie said it would pay about $2 billion in cash and fund the
remaining with stock. Stemcentrx shareholders may also get up to
$4 billion in cash if certain performance milestones are
achieved.
The deal would give AbbVie the rights to Stemcentrx's
experimental stem cell therapy, Rova-T, which is in late-stage
studies to test its effectiveness in treating lung cancer.
AbbVie also said it expects the deal to hurt its ongoing
earnings by about 20 cents per share in 2016, and then add to
profit starting from 2020.
The drugmaker expects the deal to close in the second quarter.
AbbVie also lowered it full-year adjusted profit forecast to
$4.62-$4.82 per share from $4.90-$5.10.
AbbVie had bought Pharmacyclics Inc for about $21 billion in
March last year, giving it access to the cancer drug, Imbruvica.
(Reporting by Rosmi Shaji in Bengaluru; Editing by Saumyadeb
Chakrabarty and Savio D'Souza)
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