AbbVie Pounces On Chance To Buy Revenues In $63bn Mega-Deal For Allergan
AbbVie will gain the $3.58bn Botox business, a women's health franchise and gastrointestinal products in an opportunistic acquisition intended to reduce the company's dependence on Humira.
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With an FDA approval decision for preventing episodic migraines expected during Q3, atogepant would add an oral CGRP antagonist to classmate Ubrelvy for acute attacks and Botox for prevention of chronic episodes.
Responding to Pfizer post-marketing data indicating risk for CV events or cancer in patients taking Xeljanz, AbbVie tells Q4 earnings call that a more selective JAK inhibitor like Rinvoq will offer better safety.
The firm’s major product revenues bounced back from the pandemic-troubled second quarter, with Botox recovering as predicted.