AbbVie to Snap Up Allergan in $63 Billion Deal, an Industrial Info Market Brief

The Pharma-Bio Industry is keeping its financial and legal teams busy as the mergers and acquisitions (M&A) train continues at full steam. AbbVie is on today's track, with a $63 billion offer to snap up Botox king Allergan. The company released a statement highlighting the expected $48 billion combined 2019 revenue of the two firms. Allergan's medical aesthetics business is especially attractive to AbbVie, as it needs to shore up and diversify its pipeline, not to mention bolster revenues. The company has been bracing for the financial blow as the world's top-selling drug, autoimmune treatment Humira, falls right off the patent cliff. The drug generated an estimated $18 billion in 2018 revenue for AbbVie, slightly down from its peak in 2017 of $18.9 billion. Neither of the two companies are strangers to the M&A scene, as AbbVie, once the research arm of Abbott, was spun out in 2013. Allergan was acquired by Actavis in 2015, with the new entity operating under the Allergan name.