AbbVie to buy Botox maker Allergan in $63-billion deal [Financial Post (Toronto, Ontario, Canada)]
ALLERGAN INC (AGN)
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Source: Financial Post
AbbVie to buy Botox maker Allergan in $63-billion deal The takeover, at a value of US$188.24 a share, is a 45 per cent premium to Allergan's closing price on Monday AbbVie Inc. agreed to buy rival drugmaker Allergan Plc for US$63 billion in a deal combining the makers of arthritis drug Humira and wrinkle treatment Botox in a bid to kindle growth. The takeover, at a value of US$188.24 a share, is a 45 per cent premium to Allergan’s closing price on Monday. Allergan rose 33 per cent to US$172 in pre-market trading in the U.S. early Tuesday. AbbVie has been looking for ways to reinvigorate its pipeline of experimental drugs as Humira, the best-selling medicine in the world, faces competition from cheaper biosimilars. Allergan, which makes Botox, has been considering a split. News of the possible deal comes a day after Bristol-Myers Squibb Co. agreed to divest one of Celgene Corp.’s most lucrative drugs in order to close their planned US$74 billion combination. Japan’s Takeda Pharmaceutic
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