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BTCC / BTCC Square / Global Cryptocurrency /
AbbVie Denies Revolution Medicines Talks Amid Market Turbulence

AbbVie Denies Revolution Medicines Talks Amid Market Turbulence

Author:
Global Cryptocurrency
Published:
2026-01-08 11:21:01
14
1
BTCCSquare news:

AbbVie's abrupt denial of acquisition talks with Revolution Medicines sent shockwaves through biotech and crypto markets alike. The pharmaceutical giant's statement contradicted a Wall Street Journal report suggesting advanced discussions for the $20 billion cancer-drug developer. Revolution Medicines' shares plunged 11.5% post-denial, erasing a 30% intraday surge fueled by acquisition speculation.

The news rippled into crypto markets as traders weighed implications for biotech-linked tokens. Projects like AGI (SingularityNET) and FET (Fetch.ai), which intersect AI and drug discovery, saw muted reactions—a sign crypto investors remain focused on macro liquidity trends rather than sector-specific pharma developments.

AbbVie's simultaneous profit forecast cut—slashing 2025 guidance by 7% due to a $1.3B Q4 charge—further dampened risk appetite. The MOVE echoes crypto's sensitivity to corporate earnings disappointments, as seen when Tesla's Q1 miss triggered parallel selloffs in BTC and biotech tokens last April.

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