AbbVie Inc. completed the previously announced acquisition of ImmunoGen, Inc., a biotechnology company specializing in antibody-drug conjugates (ADCs) for cancer treatment, in a transaction valued at approximately US$10.1 billion.

The acquisition brings ImmunoGen's flagship product, ELAHERE® (mirvetuximab soravtansine-gynx), a first-in-class ADC approved for folate receptor-alpha (FRα) positive platinum-resistant ovarian cancer, into AbbVie's oncology offerings.

AbbVie expects the acquisition to be accretive to its diluted Earnings Per Share (EPS) beginning in 2027 and significantly accretive over the long term.

Wachtell, Lipton, Rosen & Katz served as legal counsel to AbbVie Inc.

Ropes & Gray LLP advised ImmunoGen in the transaction.