AbbVie Strikes Deal to Buy Allergan for About $63bn

Date : 06/25/2019 @ 2:43PM
Source : Dow Jones News
Stock : Abbvie Inc. (ABBV)
Quote : 68.54  0.29 (0.42%) @ 12:59AM

AbbVie Strikes Deal to Buy Allergan for About $63bn

AbbVie Inc. (NYSE:ABBV)
Historical Stock Chart

1 Month : From Jun 2019 to Jul 2019

Click Here for more AbbVie Inc. Charts.
By WSJ City 

AbbVie has reached a deal to buy Allergan for about $63bn, as two big drugmakers bet a combination will deliver new sources of growth they have struggled to find on their own.

KEY FACTS

--- The takeover is worth $188 a share in cash and stock.

--- The price represents a 45% premium over Allergan's closing price on Monday.

-- Buying Allergan would help AbbVie dominate the $8bn-plus market for Botox and other beauty drugs.

--- That comes as AbbVie braces for the end of patent protection for the world's top-selling drug, Humira.

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

Why This Matters

Lately, Wall Street has been clamouring 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.

A fuller story is available on WSJ.com

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

 

(END) Dow Jones Newswires

June 25, 2019 09:28 ET (13:28 GMT)

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

Latest ABBV Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.