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
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI