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 […]
Report: Pharma companies kick off new year with price hikes
Major pharmaceutical firms started the new year by hiking the prices of hundreds of drugs, according to a new study published by Rx Savings Solutions. First reported in The Wall Street Journal, the study found that the average price increase taken by more than three dozen companies was roughly 6.3%. Allergan (NYSE:AGN) topped the list, raising the […]
FDA approves five-year hormonal contraceptive
Allergan (NYSE:AGN) and the nonprofit women’s health pharma company Medicines360 said today that the FDA approved an application to extend the duration of use for Liletta for the prevention of pregnancy for up to five years. Medicines360 first won approval for the levonorgestrel-releasing intrauterine device in February of 2015. The system’s latest FDA approval is based on a […]
Oyster Point takes aim at the root of dry eye disease with intranasal drug-delivery technique
Large pharmaceutical companies dominate the dry eye disease space – Allergan (NYSE:AGN) rakes in more than a billion dollars every year for its Restasis eye drops. Eight-person Oyster Point Pharma wants in on that market. But it’s betting on a completely different approach. “What we’ve come up with is a very innovative nasal spray, which when […]
Tribe taking steps to ‘ramp up’ drug patent business
The Native American tribe wrapped up in litigation with generic pharmaceutical companies is trying to prove that its arrangement with Allergan (NYSE:AGN) reflects a legitimate move to boost its economy, according to court documents. The St. Regis Mohawk Tribe of New York found itself it the middle of a controversial deal this year after it agreed […]
Allergan touts 5-year data for Liletta intrauterine contraceptive
Allergan (NYSE:AGN) and its nonprofit partner, Medicines360, touted five-year data today from an on-going pivotal trial of its intrauterine device, Liletta. The levonorgestrel-releasing contraceptive is approved in the U.S. to be used to prevent pregnancy for up to four years. The companies collected data from women who ranged from 16 – 45 years old. Two women, […]
Report: Takeda raises $60B offer for Shire, nears prelim acquisition agreement
Takeda Pharmaceutical (TYO:4502) has sweetened its approximately $60 billion bid for Shire (NSDQ:SHPG) and is approaching a preliminary agreement for acquisition, according to a new report from Bloomberg. The deal could come to a head as early as today, according to the report, as both companies have been working on a tentative agreement and price for the […]
Update: Allergan, Takeda spar for Shire
Hours after Allergan (NYSE:AGN) said it was considering an acquisition of Shire (NSDQ:SHPG), the Dublin-based company announced that it does not intend to make such an offer. Reports also surfaced today that Shire rejected a $63 billion takeover offer from Takeda Pharmaceutical (TYO:4502). Reuters, which first broke the news of Allergan’s interest in Shire, citing a pair of unnamed sources, […]
Report: Pharma companies ask Supremes to take eye-dropper case
A group of pharmaceutical companies, including Allergan (NYSE:AGN) and Merck (NYSE:MRK), have asked the Supreme Court to review a case between the industry players and patients regarding the design of the companies’ eye-droppers, according to a report from the AP. In the on-going legal debate, patient groups have claimed that the companies’ devices dispense large drops of medication […]
Tribe looks to stop patent board’s review of Restasis IP
Allergan (NYSE:AGN) and the St. Regis Mohawk Tribe asked the Federal Circuit last week to stop the U.S. Patent Trial and Appeal Board from reviewing the IP for Allergan’s blockbuster eye drug, Restasis. The move comes in response to the board’s February decision that sovereign immunity does not shield tribes from patent challenges. The board’s ruling […]
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