Good News For AbbVie: Allergan's Q2 Sales Exceed Expectations, Including Behemoth Botox
AbbVie is buying Allergan for its product sales, both to increase its own revenues and to fund future R&D and business development, so Allergan's Q2 gains are good news.
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Key Allergan drugs performed well in Q3 and pipeline programs are approaching milestones as AbbVie says its $63bn acquisition of the company remains on track to close early next year.
A mixed set of results from a Phase IIb/III trial of TOP1630 has not deterred the privately-held firm which maintains that the anti-inflammatory kinase inhibitor is a promising treatment.
While it works on merging with Allergan, AbbVie is tracking biosimilar sales erosion to Humira, the promising launch of Skyrizi and the growth of Imbruvica and Venclexta. It is terminating a Phase II study of a tau-targeting antibody and worried about aspects of the Senate drug pricing bill.