AbbVie agrees to purchase Stemcentrx for $5.8B

Drugmaker AbbVie Inc. agreed to acquire cancer-drug developer Stemcentrx Inc. for $5.8 billion.

With the purchase, AbbVie would gain access to Stemcentrx’s lung-cancer treatment drug known as Rova-T, as well as other experimental drugs.

Currently, AbbVie’s cancer-drug lineup only includes blood cancers. With the addition of Stemcentrx, it would add treatments for tumors in solid organs.

Read more from The Wall Street Journal.