Abbvie Buys Allergan at Buying

Abbvie Buys Allergan. Abbvie and allergan have sold rights to an experimental digestive disease drug to astrazeneca, a move aimed at getting ahead of possible antitrust concerns related to their pending $63 billion deal. New york (cnn business) abbvie announced it will buy allergan for $63 billion, combining the companies behind humira and botox and creating yet another pharmaceutical behemoth.

Abbvie previously promised to divest the drug, called brazikumab, in order to complete the deal. Abbvie, a researcher and developer of pharmaceutical products, completed the $63bn acquisition of allergan, a manufacturer of speciality pharmaceuticals. Humira maker abbvie is set to acquire botox maker allergan in another move toward consolidation for the pharmaceutical industry.

Judge’s ruling a shot in the arm for Allergan takeover bid

Together, we are dedicating more to r&d to drive tomorrow’s breakthroughs, while helping people live better lives today. Abbvie buys allergan for $63 billion. Under the terms of the transaction agreement, allergan shareholders will receive 0.8660 abbvie shares and $120.30 in cash for each allergan share, for a total consideration of $193.23 per allergan share (based on the closing price of abbvie’s common stock of $84.22 on may 7, 2020). Abbvie and allergan have sold rights to an experimental digestive disease drug to astrazeneca, a move aimed at getting ahead of possible antitrust concerns related to their pending $63 billion deal.