Shares of AbbVie ABBV, +1.27% were down 0.6% in premarket trading on Tuesday after the company completed a $1 billion acquisition of Syndesi Therapeutics SA. Syndesi is developing treatments for cognitive impairment and other symptoms associated with Alzheimer’s disease and major depressive disorder. Per the terms of the deal, AbbVie will make a $130 million upfront payment, with an additional $870 million in milestone payments at hand. AbbVie’s stock is up 36.3% over the past year, while the broader S&P 500 SPX, +1.86% has gained 14.4%.
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