• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

AbbVie to buy Allergan for $63 billion

June 25, 2019 By Nancy Crotti

Pharmaceutical giant AbbVie (NYSE:ABBV) said today it will acquire Allergan (NYSE:AGN) for $63 billion in cash and stock. The purchase is seen as a hedge against the impending expiration of U.S. patents on AbbVie’s blockbuster drug, Humira.

AbbVie will pay Allergan shareholders $188.24 per share of Allergan stock, a 45% premium to yesterday’s closing price. Humira sales account for more than 60% of AbbVie’s revenue, but biosimilars approved in Europe have begun to erode that cash flow. U.S. patents for the drug are due to expire in 2023.

Get the full story on our sister site, MassDevice.

 

Filed Under: Business/Financial News, Drug-Device Combinations, Featured, Mergers & Acquisitions, Pharmaceuticals, Uncategorized, Wall Street Beat Tagged With: AbbVie, Allergan

IN CASE YOU MISSED IT

  • BD stock up on Street-beating preliminary quarterly revenue numbers
  • Locate Bio lands FDA breakthrough nod for bone infection device
  • PerkinElmer to acquire Oxford Immunotec
  • Evonik buys polymers business from Durect Corp.
  • New Croatian notified body designated to European MDR

Primary Sidebar

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Need Drug Delivery Business News in a minute? We Deliver!
Drug Delivery Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Tweets by DrugDeliveryNow

Footer

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Design & Outsourcing
Medical Tubing + Extrusion

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery News
Advertise with us
About
Contact us
Privacy
Add us on FacebookFollow us on TwitterConnect with us on LinkedIn

Copyright © 2021 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS