AbbVie, Allergan Say They Receive FTC Clearance for Deal
May 05 2020 - 6:53PM
Dow Jones News
By Stephen Nakrosis
AbbVie Inc. and Allergan PLC said Tuesday they received
clearance from the Federal Trade Commission regarding AbbVie's
acquisition of Allergan.
As part of the proposed consent, Allergan will divest
brazikumab, "an investigational IL-23 inhibitor in development for
autoimmune diseases," to AstraZeneca, the companies said. AbbVie
will also divest Zenpep, "a treatment for exocrine pancreatic
insufficiency due to cystic fibrosis and other conditions," to
Nestle, who will also acquire Viokace, another pancreatic enzyme
preparation, as part of the deal.
AbbVie and Allergan also amended their agreement so only one
Allergan director will join the AbbVie board after the deal closes.
Allergan's current Chairman and Chief Executive Brent Saunders "has
elected not to join the AbbVie Board to provide more flexibility to
pursue other opportunities in the sector," the companies said.
In June, the two companies announced a $63 billion deal that
would see AbbVie buy Allergan.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 05, 2020 18:38 ET (22:38 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
AbbVie (NYSE:ABBV)
Historical Stock Chart
From Sep 2024 to Oct 2024
AbbVie (NYSE:ABBV)
Historical Stock Chart
From Oct 2023 to Oct 2024