AbbVie is near a deal to buy Allergan for more than $60 billion, as the two drugmakers bet a combination will deliver new sources of growth
Botox maker Allergan has a market capitalization of $42.47 billion, based on Monday’s close, according to FactSet. Photo: Richard Drew/Associated Press By Cara Lombardo, Jonathan D. Rockoff and Dana Cimilluca Updated June 25, 2019 6:32 am ET AbbVie Inc. ABBV -0.42% is nearing a deal to buy Allergan AGN -0.
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. Allergan’s nearly $16 billion in yearly revenue would also give AbbVie another source of cash to hunt for a new generation of products.
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