AbbVie, Allergan Receive Second Request from FTC for More Info in Pending $63-Bn Merger

AbbVie and Allergan have each received a second request for additional information from the US Federal Trade Commission (FTC) in connection with AbbVie’s pending $63-billion acquisition of Allergan, which was announced earlier this year (June 2019).

The second request was issued under notification requirements of the Hart-Scott Rodino (HSR) Antitrust Improvements Act of 1976, as amended. The effect of the second request is to extend the waiting period imposed by the HSR act until 30 days after the parties have substantially complied with the request although it is common for that period to be extended voluntarily by the parties or terminated sooner by the FTC.

The companies say that they are cooperating fully with the FTC and expect to close the transaction in early 2020.

Once the deal closes, the combined company would have 2019 annual combined revenue of approximately $48 billion and consist of several franchises in immunology, hematologic oncology, medical aesthetics, neuroscience, women’s health, eye care and virology.

Source: AbbVie

Leave a Reply

Your email address will not be published. Required fields are marked *