Consumer groups, unions oppose fix for planned merger of AbbVie and Allergan [Yahoo! Finance News]
AbbVie Inc. (ABBV)
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Source: Yahoo! Finance News
WASHINGTON Reuters) - A group of unions and consumer groups wrote to U.S. antitrust enforcers on Tuesday to oppose a proposed remedy that could lead to U.S. approval for AbbVie Inc's planned purchase of Allergan Plc . In its letter to the Federal Trade Commission, which is reviewing the merger to ensure it is legal, the groups argued that a plan for the companies to divest Allergan's brazikumab, which is being developed to treat ulcerative colitis and Crohn's disease, was inadequate to resolve antitrust concerns raised by the planned deal. AbbVie did not immediately respond to a request for comment. The groups argued that the proposed buyer, AstraZeneca, appeared to have little incentive to bring the drug to market and that rebates offered by AbbVie for its Skyrizi drug would slow brazikumab's success in the market since both drugs treat similar ailments. "We are skeptical that the divestiture to AstraZeneca of Allergan’s brazikumab, a drug in development, can adequately address the
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- AbbVie Inc. (NYSE: ABBV) had its price target raised by analysts at Barclays PLC from $185.00 to $195.00. They now have an "overweight" rating on the stock.MarketBeat
ABBV
Earnings
- 2/2/24 - Beat
ABBV
Sec Filings
- 3/26/24 - Form PX14A6G
- 3/22/24 - Form 4
- 3/21/24 - Form 144/A
- ABBV's page on the SEC website