ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

ABBV AbbVie Inc

203.16
1.66 (0.82%)
After Hours
Last Updated: 22:46:28
Delayed by 15 minutes
Share Name Share Symbol Market Type
AbbVie Inc NYSE:ABBV NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  1.66 0.82% 203.16 207.32 201.42 201.97 8,833,547 22:46:28

AbbVie Nears Deal to Buy Allergan for More Than $60 Billion--Update

25/06/2019 12:02pm

Dow Jones News


AbbVie (NYSE:ABBV)
Historical Stock Chart


From Oct 2019 to Oct 2024

Click Here for more AbbVie Charts.
By Cara Lombardo, Jonathan D. Rockoff and Dana Cimilluca 

AbbVie Inc. is nearing a deal to buy Allergan PLC for more than $60 billion, according to people familiar with the matter, as two big drugmakers bet a combination will deliver new sources of growth they have struggled to find on their own.

The takeover, worth $188 a share in cash and stock, is expected to be announced later Tuesday, the people said. The price, mainly to be paid in cash, represents a 45% premium over Allergan's closing share price Monday of $129.57. If not for a surge in the shares in recent days on expectations for a breakup of the company, the premium would be even bigger.

Buying Dublin-based Allergan would deliver a dominant position in the $8 billion-plus market for Botox and other beauty drugs, as well as a number of popular eye treatments, as AbbVie braces for the end of patent protection for the world's top-selling drug, Humira.

The companies' portfolios have some overlap in treatments for brain, women's-health, stomach and other disorders, though the combination would take AbbVie into the new realm of frown-line smoothing, eyelash lengthening and double-chin removal.

Allergan's nearly $16 billion in yearly revenue would also give AbbVie another source of cash to hunt for a new generation of products.

Lately, Wall Street has been clamoring for change at Allergan, with its shares trading at a fraction of their peak of more than $330 in the summer of 2015. Analysts have been saying the company could split into two pieces but few expected CEO Brent Saunders to pull off a sale, especially at such a lofty premium.

Write to Cara Lombardo at cara.lombardo@wsj.com, Jonathan D. Rockoff at Jonathan.Rockoff@wsj.com and Dana Cimilluca at dana.cimilluca@wsj.com

 

(END) Dow Jones Newswires

June 25, 2019 06:47 ET (10:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

1 Year AbbVie Chart

1 Year AbbVie Chart

1 Month AbbVie Chart

1 Month AbbVie Chart