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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AbbVie made only a slight adjustment to its earnings-per-share guidance despite expected Q2 downturn due to the pandemic. It sees Allergan’s aesthetic business as bouncing back quickly.
Despite Humira’s ex-US sales erosion, AbbVie reports strong launches for Skyrizi and Rinvoq, continued growth for hematological oncology franchise, and boasts it has a thriving R&D engine.
AstraZeneca will reacquire Allergan's investigational IL-23 inhibitor brazikumab, and Nestle is to buy its GI drug Zenpep, which had nine-month revenue of $208m.