Hello, everyone, and how are you this morning? We are doing just fine, thank you, despite a steady downpour that making the Pharmalot campus grounds particularly soggy. Nonetheless, our spirits are sunny. Once again, we will offer a gentle reminder from the Morning Mayor: Every brand new day should be unwrapped like a precious gift. So after you tug on the ribbon, you can peruse a few items of interest we have assembled for you. Hope you have a smashing day …
AbbVie (ABBV) will pay $63 billion to buy Allergan (AGN), the latest megamerger between two pharma giants seeking new ways to grow, STAT reports. For AbbVie, the acquisition may ease investor concerns about long-term growth, since patents expire in a few years on its franchise product, the Humira rheumatoid arthritis treatment. Allergan sells a portfolio of aesthetic drugs, notably Botox, a $3.6 billion seller, but has struggled with pressure from investor over its own growth plans amid a failed move to extend patent life for an eye treatment.
About the Author Reprints
