If the deal closes, Allergan shareholders will receive $120.30 a share, plus 0.866 shares of AbbVie. Two Allergan directors, including Saunders, will join AbbVie’s board after the purchase is completed, according to the statement. Go to the App Store or Google Play and search for 'PharmaTimes' to download our free app. The company plans to issue $28 billion in bonds, possibly by Tuesday, a source told the news service. PharmaTimes Media Ltd. We've detected you are on Internet Explorer. Save my name, email, and website in this browser for the next time I comment. According to the National Cancer Institute, a biomarker is “a biological molecule found in blood, other body fluids, or tissues that is a... As per National CancerInstitute: “A type of study in which the patients (single-blinded) or the patients and their doctors (double-blinded) do not... AbbVie Announces Extension of Expiration Date for Allergan Notes, Aberdeen researchers to use artificial intelligence to create test for COVID-19, NICE publishes rapid COVID-19 guideline for acute kidney injury, RPS calls for action to fight counterfeit medicines, Vir Biotechnology and GSK announce global expansion to Phase 3 of COMET-ICE study, UK inks deal with Abingdon Health for rapid COVID-19 antibody tests, BMS Opdivo plus Yervoy misses the mark in high-risk melanoma Patients, Interview Questions on Institutional Review Board(IRB), Introductory Session on Clinical Data Management. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. The stock was down 4.5% on Tuesday, to $80.25. The dividend will be paid on the closing date of AbbVie's pending acquisition of Allergan, which remains subject to regulatory approval and customary closing conditions, or on June 15, 2020 if closing has not yet occurred. 19th March 2020 . T: +44 (0)20 7240 6999 Allergan did not immediately respond to a request for comment. Gonzalez said on the call that he intends to stay with the company at least through Humira’s loss of exclusivity in the U.S. But it is on its way, with the companies expecting it to close next month. In a note out Tuesday, SunTrust Robinson Humphrey analyst Gregg Gilbert downgraded Allergan (ticker: AGN) to Hold from Buy, but raised his price target on the stock by $2, to $193, because the close of the deal is drawing near. which sells the aging blockbuster drug Humira. Allergan's second quarter 2020 dividend will be paid to shareholders of record at the close of business on April 16, 2020. “While there could be additional upside if ABBV’s stock continues to appreciate... there could also be significant downside in the unlikely event that the deal breaks, potentially to the ~$130 range,” Gilbert wrote. Mansard House E: subscriptions@pharmatimes.com AbbVie currently expects that there will be no further extensions of the Expiration Date. On the early participation date of November 7, 2019, requisite consents were received and supplemental indentures were executed eliminating substantially all of the covenants, restrictive provisions, events of default and any guarantees of the related Allergan Notes in each Allergan Indenture. AbbVie hereby extends such expiration date from 5:00 p.m., New York City time, on May 8, 2020, to 5:00 p.m., New York City time, on May 12, 2020 (the “Expiration Date”). Leatherhead The companies also said that combining Allergan’s diversified on-market product portfolio with AbbVie’s growth platform and expertise in R&D, commercial strength and international footprint will create a leading biopharmaceutical company with approximately $48 billion in combined 2019 revenue, whilst also enhancing AbbVie’s ability for robust investment in its industry-leading pipeline of innovative therapies. the companies expecting it to close next month. © Copyright PharmaTimes Media Limited 2020, International Clinical Researcher of the Year, Clinical Researcher of the Year - The Americas, J&J’s COVID-19 vaccine trial paused on safety concerns, AZ’s long-acting COVID-19 antibody moves into phase III, Novavax begins phase III coronavirus vaccine trial in the UK, Bavencio, Imbruvica among latest SMC decisions, EMA accepts filing for Biogen/Samsung Bioepis’ Lucentis biosimilar, BMS’ Zeposia hits the mark in ulcerative colitis, Bank Nurse Advisor - Nutrition - SE London / Kent, Primary Care Account Manager -Cardiovascular- Bucks/Oxon/Berks. October 13, 2020: The Royal Pharmaceutical Society of Great Britain (RPS) has called on the UK government to take immediate action to... October 06, 2020: "Vir Biotechnology, Inc. and GlaxoSmithKline plc announced the global expansion to Phase 3 of the COMET-ICE (COVID-19 Monoclonal antibody... October 7, 2020: "The UK authorities has introduced a deal with Abingdon Health for the provision of the corporate’s AbC-19 rapid COVID-19... You have entered an incorrect email address! Allergan May 05, 2020: AbbVie Announces Extension of Expiration Date for Exchange Offers for Allergan Notes and Expects No Further Extensions of Expiration Date. Allergan shares are down 3.6% so far this year, and were trading at $184.21 on Tuesday at midday. Under the terms of the $63 billion purchase, the drugmakers have said that, as previously disclosed, the experimental IL-23 inhibitor brazikumab will be divested to AstraZeneca, while the pancreatic enzyme products Zenpep (pancrelipase) and Viokace (pancrelipase) would be offloaded to Nestlé. But Gilbert wrote that if the deal were to fall through, he expected Allergan shares to fall to $129. Surrey KT23 3JG, E: editorial@pharmatimes.com Allergan did not immediately respond to a request for comment. There was a time, back before the pandemic, when the biggest news in pharmaceuticals was the mammoth $63 billion acquisition of Botox-maker Shares of AbbVie are down 9.2% so far this year. What are the types of Biomakers. An error has occurred, please try again later. by. AbbVie and Allergan anticipate closing their … AbbVie Inc. announced that the extension of the expiration date of the offers to exchange (each, an “Exchange Offer” and, collectively, the “Exchange Offers”) any and all outstanding notes of certain series issued by Allergan Finance, LLC (“Allergan Finance”), Allergan, Inc. (“Allergan Inc”), Allergan Sales, LLC (“Allergan Sales”) and Allergan Funding SCS (“Allergan Funding” and, together with Allergan Finance, Allergan Inc and Allergan Sales, “Allergan”) (the “Allergan Notes”) for new notes to be issued by AbbVie (the “AbbVie Notes”) and the related consent solicitations (each, a “Consent Solicitation” and, collectively, the “Consent Solicitations”) being made by AbbVie on behalf of Allergan to adopt certain amendments to each of the indentures (each, an “Allergan Indenture”) governing the Allergan Notes. AbbVie said it now expects the merger to close in May after the FTC's final review of the drug sale. AbbVie has released an update on its pending acquisition of Allergan, announcing that the companies have entered into a consent decree agreement with staff of the US Federal Trade Commission ... Data shows coronavirus infection rate might be slowing Last year, AbbVie claimed that the primary aim of the merger is to achieve a "diversified product portfolio [that] meets our strategic goal to reduce reliance on Humira", as Humira – AbbVie’s blockbuster and also the world’s best-selling drug – gradually loses its patenting around the world, starting in Europe last year. All the contents are written by experienced folks and peer reviewed by experts. Gilbert wrote that the deal spread is now around $6, or 3%, noting that there could still be upside if AbbVie shares (ABBV) continue to rise. This copy is for your personal, non-commercial use only. Little Bookham For the best Barrons.com experience, please update to a modern browser. The deal is … LifeProNow provides guidance and high quality contents to help job seekers to get their dream Job. Anna Smith. AbbVie’s (ABBV) plan to close the $63 billion Allergan (AGN) deal this month appears on track following the announcement that they have received US …

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