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AbbVie Announces Acquisition of Allergan: What You Should Know
On June 25, AbbVie (ABBV) announced a definitive agreement to acquire Allergan (AGN) in a cash and stock transaction for a total consideration of $63 billion. The deal values Allergan at a 45% premium to its closing price on June 24. AbbVie aims to reduce excessive revenue exposure to Humira through this deal.
AbbVie or Allergan: Which Is a Better Pick in June?
AbbVie (ABBV) is down 14.69%, and Allergan (AGN) is down 13.41% in 2019 on a year-to-date basis. While concerns about the anticipated generic erosion of its flagship Humira franchise have proved to be a drag for AbbVie, Allergan is being increasingly criticized for a couple of reasons.