AbbVie (ABBV) is in advanced talks to buy cancer-drug researcher Revolution Medicines (RVMD), people familiar with the matter told The Wall Street Journal’s Jonathan Rockoff, Lauren Thomas and Cara Lombardo. Revolution has a market value of around $16B and the Journal couldn’t be learn how much AbbVie is offering, but says that Revolution could be valued at around $20B or more including a typical deal premium. If talks don’t hit any last-minute snags, a deal could come together soon, the sources reportedly said. Revolution shares jumped 10% to $87.81 following the report.
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