AbbVie, Allergan Gain US Antitrust Clearance for Deal

Source: FirstWord

The US Federal Trade Commission (FTC) accepted the proposed consent order in connection with AbbVie’s pending $63-billion acquisition of Allergan, the companies announced. The FTC’s decision means that all required antitrust clearances needed for the merger have now been obtained.

Under the proposed order, which was first detailed in March, Allergan has agreed to divest the investigational IL-23 inhibitor brazikumab to AstraZeneca, while Nestle will acquire the pancreatic enzyme products Zenpep (pancrelipase) and Viokace (pancrelipase).

Meanwhile, the drugmakers said they have amended their agreement to provide that only one Allergan director will join the AbbVie board following close. Allergan’s current CEO Brent Saunders has elected not to join the AbbVie board so he has “more flexibility to pursue other opportunities in the sector.”

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