AbbVie Will Use Allergan Revenue To Fund Combined Firm's Large R&D Pipeline
While AbbVie said its $63bn purchase places little value on Allergan's R&D pipeline, the companies have 62 drugs in clinical development with 38 in Phase II and III or filed with regulators, including new indications for approved products.
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AbbVie had no presence in ophthalmic medicine other than a single indication for Humira before the Allergan merger, but now has a growing eye care portfolio, including early FDA approval of Vuity for presbyopia.
The partnership worth up to $1.75bn removes the significant risk of going it alone in a competitive market as Regenxbio awaits late-stage data for its gene therapy.
The merger closed in May, so the second quarter earnings report will be the first presentation of the combined company’s performance and outlook.