Go back

€57bn pharma takeover given EU green light

Image: Guido van Nispen [CC BY 2.0], via Flickr

European Commission approves AbbVie’s takeover of Ireland’s Allergan, subject to conditions

The European Commission, in its capacity as enforcer of EU competition law, has approved the proposed takeover of the Ireland-headquartered pharmaceutical company Allergan by United States-based rival AbbVie. According to Allergan, the value of the takeover is about $63 billion (€57bn).

However, the move can only go ahead if Allergan sells a product it is developing to treat inflammatory bowel disease, the Commission said. Both companies are working on artificial antibodies designed to block the action of an inflammatory signalling molecule that has a role in some autoimmune diseases.

This article is only available to *Research Professional subscribers. If you are a subscriber you can read the article in full on researchprofessional.com