AbbVie to Acquire Allergan for Approx. $63 Billion

Biopharma giant AbbVie Inc. (NYSE: ABBV) is to acquire Allergan plc (NYSE: AGN), a Dublin, Ireland-based pharmaceutical company, for an equity value of approximately $63 billion.

The deal provides immediate scale and profitability to AbbVie’s growth platform, excluding Humira, expanding and diversifying its revenue base with new therapeutic areas, including Allergan’s medical aesthetics business.
It also enhances long-term R&D funding capacity, allowing for continued investment and sustained focus on innovative science, increases global commercial scale to further maximize the value of Allergan’s portfolio of products.

The combined company will produce strong cash flow to support continued dividend growth, further investment in the pipeline and reduction of debt levels.

Upon completion of the transaction, AbbVie will continue to be incorporated in Delaware as AbbVie Inc. and have its principal executive offices in North Chicago, Ill.
AbbVie will continue to be led by Richard A. Gonzalez as chairman and chief executive officer. Two members of Allergan’s Board, including chairman and chief executive officer, Brent Saunders, will join AbbVie’s Board upon completion of the transaction.

AbbVie is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions with primary therapeutic areas inclufing immunology, oncology, virology and neuroscience.

Allergan is a global pharmaceutical leader focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world. The company markets a portfolio of brands and products primarily focused on four key therapeutic areas including medical aesthetics, eye care, central nervous system and gastroenterology. It has employees and commercial operations in approximately 100 countries.

Have a look at the acquisition details in this infographic

FinSMEs

25/06/2019