West Signs Agreement to Sell the Manufacturing and Supply Rights for SmartDose® 3.5mL On-Body Delivery System to AbbVie [Yahoo! Finance]
AbbVie Inc. (ABBV)
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Source: Yahoo! Finance
administration, today announced that the company has reached a definitive agreement to sell all manufacturing and supply rights for SmartDose® 3.5mL On-Body Delivery System and associated facilities to AbbVie (NYSE: ABBV) for total consideration of $112.5 million at close, subject to working capital and other adjustments. The definitive agreement, which is subject to certain closing conditions, is expected to close in mid-2026. West is committed to the continued commercial supply of SmartDose® 3.5mL On-Body Delivery System along with the execution of ongoing critical project execution commitments prior to close, which includes the potential for future project payments on achievement of milestones prior to closing. "West pioneered the innovation of the on-body delivery device technology for complex injectable medicines, which has improved the lives of people around the world," said Eric M. Green, President, Chief Executive Officer and Chair of the Board. "As part of our portfolio r
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