AbbVie announced on Monday its plan to acquire drug developer Landos Biopharma for up to $212 million, aiming to enhance its portfolio of treatments for immune system-related illnesses. The deal includes a total cash consideration of $137.5 million, representing a 160% cash premium, and an additional contingent value right (CVR) potentially worth $75 million, related to the achievement of a clinical milestone. This acquisition is seen as a strategic move by AbbVie to bolster its pipeline in the wake of its blockbuster drug Humira facing competition. Landos Biopharma, known for its work on an IBD drug currently in Phase 2, is expected to strengthen AbbVie's position in the inflammatory and autoimmune disease sector. The acquisition terms specify a buyout of $20.52 per share plus a CVR worth up to $11.14, totaling a 160.8% premium.