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    • AbbVie wins...

    AbbVie wins conditional European nod for acquiring Allergan

    Farhat NasimWritten by Farhat Nasim Published On 2020-01-12T09:25:01+05:30  |  Updated On 12 Jan 2020 9:25 AM IST

    "Our decision makes sure that the merger between AbbVie and Allergan will not disrupt the development of a promising innovative treatment for these diseases," Margrethe Vestager, the commissioner in charge of competition, said in a statement.


    New Delhi: The European Commission said on Friday it had approved U.S. drugmaker AbbVie's planned $63 billion acquisition of the Botox-maker Allergan, subject to conditions.


    The Commission, which oversees competition policy in the European Union, said its approval was conditional on the divestment of a product under development by Allergan to treat inflammatory bowel diseases.


    "Our decision makes sure that the merger between AbbVie and Allergan will not disrupt the development of a promising innovative treatment for these diseases," Margrethe Vestager, the commissioner in charge of competition, said in a statement.


    Also Read: Investigate, block AbbVie, Allergan USD 63 billion merger: Consumer Groups to Trade Commission


    The Commission had found that Allergan's brazikumab was likely to compete with AbbVie's risankizumab, but the merger would have led to research into brazikumab to be halted, "preventing a promising drug from reaching the market".


    To address the commission's concerns AbbVie has agreed to sell brazikumab to an investor that would continue its development.


    AbbVie announced its plans to acquire Allergan in June to give it control of lucrative wrinkle treatment Botox and buying time to seek new growth before its blockbuster arthritis treatment loses U.S. patent protection.


    Also Read: UCB psoriasis drug Bimekizumab beats AbbVie blockbuster Humira in late-stage trial

    AbbVieAcquisitionAllerganbrazikumabEuropeanEuropean Commissiongeneric drugHumiraIBDinflammatory bowel diseasespharmapharma companypharma newsrisankizumab
    Source : Reuters

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    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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