'We are pleased to reach this important milestone for the Company, its employees, shareholders and the patients we serve,' said
Well-Positioned for Long-Term Growth in Key Therapeutic Areas
The transaction significantly expands and diversifies AbbVie's revenue base and complements existing leadership positions in Immunology, with Humira, and recently launched Skyrizi and Rinvoq, and Hematologic Oncology, with Imbruvica and Venclexta. Allergan provides new growth opportunities in Neuroscience, with Botox Therapeutics, Vraylar and Ubrelvy and a global aesthetics business, with leading brands including Botox and Juvederm.
This diversified on-market portfolio will drive the existing AbbVie growth platform (ex-Humira) to approximately
Additionally, in connection with the closing of the transaction, the AbbVie Board of Directors has elected
Financial Terms
Under the terms of the transaction agreement, Allergan shareholders will receive 0.8660 AbbVie shares and
About AbbVie
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.
Forward-Looking Statements
This announcement contains certain forward-looking statements, including with respect to AbbVie's acquisition of Allergan (the 'acquisition') and the combined group's estimated or anticipated future business, performance and results of operations and financial condition, including estimates, forecasts, targets and plans for the combined group. The words 'believe,' 'expect,' 'anticipate,' 'project' and similar expressions, among others, generally identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, failure to realize the expected benefits of the acquisition, including the synergies and value creation contemplated by the acquisition, failure to promptly and effectively integrate Allergan's businesses, negative effects relating to the consummation of the acquisition on the market price of AbbVie's shares of common stock, significant transaction costs and/or unknown or inestimable liabilities, potential litigation associated with the acquisition, the combined group's inability to retain key personnel, general economic and business conditions that affect the combined group, changes in global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax laws, regulations, rates and policies, future business acquisitions or disposals, competitive developments and the impact of public health outbreaks, epidemics or pandemics, such as COVID-19. These forward-looking statements are based on numerous assumptions and assessments made in light of AbbVie's experience and perception of historical trends, current conditions, business strategies, operating environment, future developments and other factors it believes appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. The factors described in the context of such forward-looking statements in this announcement could cause AbbVie's plans with respect to Allergan or AbbVie's actual results, performance or achievements, industry results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and persons reading this announcement are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this announcement. Additional information about economic, competitive, governmental, technological and other factors that may affect AbbVie is set forth in AbbVie's periodic public filings with the
Any forward-looking statements in this announcement are based upon information available to AbbVie and/or its board of directors as of the date of this announcement and, while believed to be true when made, may ultimately prove to be incorrect. All subsequent written and oral forward-looking statements attributable to AbbVie or its board of directors or any person acting on behalf of them are expressly qualified in their entirety by this paragraph.
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