Allergan has confirmed that it will divest experimental inflammatory bowel disease therapy brazikumab and marketed drug Zenpep ahead of its US$63 billion acquisition by AbbVie.
Allergan announced it had decided to divest brazikumab and Zenpep—a treatment for pancreatic lipase deficiency—regardless of whether getting rid of them is required for clearance of the AbbVie takeover by antitrust regulators such as the Federal Trade Commission (FTC).
Allergan Chief Executive Brent Saunders said the company achieved “steady growth” in the second quarter, driven once again by wrinkle treatments Botox and Juvederm, up 4% to US$974 million and 11% to US$323 million, respectively. There was also a strong contribution from antipsychotic drug Vraylar (cariprazine) which grew 72% to US$196 million.
The deal, worth about US$80 billion including debt, is the second this year that would knit together two of the world’s biggest pharmaceutical companies. Earlier this year, Bristol-Myers Squibb agreed to pay US$74 billion for rival cancer drugmaker Celgene.
Full Content: Competition Policy International
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI