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...Trouble can be traced back to 2016, when Teva acquired generics rival Actavis from Allergan for $40bn. The highly leveraged deal became a flashpoint for its problems....
...The activist, known for waging battles at companies including JCPenney, Allergan and Canadian Pacific Railway, is employing the same bare-knuckle tactics at his alma mater, including calling for the removal...
...The deal is the largest pharmaceutical transaction since AbbVie agreed to buy Allergan for $63bn in 2019 and signals a rebound in mergers and acquisitions following a dip in activity last year, according...
...Pfizer agreed to acquire oncology-focused biotech Seagen for $43bn, the largest pharma transaction since AbbVie agreed to buy Allergan in 2019....
...Johnson & Johnson, Teva, Endo and AbbVie’s Allergan are accused of falsely marketing painkillers and knowingly underplaying the risk of addiction in order to increase sales, in litigation brought by three...
...in order to increase sales, in litigation brought by three California counties and the city of Oakland....
...A subsequent attempt to slash its tax bill by acquiring Allergan, the Botox maker, and moving its headquarters to Ireland was nixed by the Obama administration....
...For Alexion, the sale follows pressure from activist hedge fund Elliott Management, which in May demanded the company sell itself, citing management missteps....
...Allergan chief executive Brent Saunders disclosed the role of JPMorgan and Wachtell, Lipton, Rosen & Katz asadvisers to the company on its planned sale to AbbVie, not AbbVie chief executive Richard Gonzalez...
...Orders came in for more than twice the total on offer, according to people familiar with the sale....
...Abbvie’s $63bn deal to acquire Allergan, the maker of Botox, is also part of a plan to bolster the company’s pipeline of new drugs before it loses exclusivity on Humira in the US in 2023, when it expects...
...The details of the fee arrangement were disclosed by Allergan this week as it prepares for a shareholder vote on its sale to Chicago-based AbbVie....
...It will also help AbbVie try to mine Allergan’s own pipeline of drugs for new products. AbbVie hopes that its global sales force will also help bolster Botox revenues....
...Mr Saunders, who joined Allergan in 2014, has led the group through a difficult period that has seen a sale to Pfizer collapse and its stock fall more than 60 per cent from its 2015 peak....
...Pharmaceutical group AbbVie and its acquisition of Allergan will also be in focus....
...Allergan raised expectations for the full year after the pharmaceutical company best known for its cosmetic products beat analysts' forecasts on earnings and revenue, driven by rising sales of Botox and...
...(FT) News round-up US regulator clears AbbVie’s $63bn deal for Allergan (FT) KKR posts $4.2bn net loss as investment portfolio hit (FT) Goldman Sachs in talks to buy Invesco holdings (Sky News) Warburg...
...Investors will seek updates on Pfizer’s deal with Mylan on Thursday, while AbbVie’s acquisition of Allergan, which is nearing completion, will be in focus on Friday....
...While a split of the company was increasingly expected over the past year, a sale of the company was never off the table, especially given the track record of the Allergan management team and CEO in particular...
...It’s a problem for the company, which derives 60 per cent of its $33bn in annual sales from Humira, and finding sources to replenish those sales has been a source of constant consternation for Gonzalez....
...Botox was one of the key reasons for AbbVie wanting to buy Allergan — securing solid cash flow from the cosmetic treatment. There were concerns that in a world of social distancing, sales would suffer....
...For JPMorgan Chase, which advised Botox-maker Allergan on its $63bn sale to US pharmaceutical group AbbVie, the “miracle” drug has instead been closer to a shot in the heart....
...This was all happening back when Teva had just bought Allergan’s generics business for $40.5bn, which marked peak drug insanity....
...Sales of its second-best seller after Botox, the dry-eye drug Restasis, were down 17.7 per cent from a year earlier....
...AbbVie announced in June that it plans to acquire Botox maker Allergan for $63bn, as it tries to replenish its pipeline ahead of losing exclusivity on its key drug Humira, for inflammatory diseases, in the...
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