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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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.
Reporting its first full quarter of financials since merging with Allergan, AbbVie will be scrutinized for whether its optimistic talk of a quick Botox rebound actually happened.