{"id":385,"date":"2019-06-28T10:55:58","date_gmt":"2019-06-28T10:55:58","guid":{"rendered":"http:\/\/www.mymedicplus.com\/news\/?p=385"},"modified":"2021-03-31T00:29:50","modified_gmt":"2021-03-30T18:59:50","slug":"allergan-abbvies-expensive-facelift","status":"publish","type":"post","link":"https:\/\/www.mymedicplus.com\/blog\/allergan-abbvies-expensive-facelift\/","title":{"rendered":"Allergan: AbbVie\u2019s expensive facelift"},"content":{"rendered":"\n

Source :- moneyweek.com<\/a> <\/p>\n\n\n\n

Home > Company news > Allergan: AbbVie\u2019s expensive facelift
\nAllergan: AbbVie\u2019s expensive facelift
\nBy: Dr Matthew Partridge
\n27\/06\/2019
\n Woman getting botox injection in her face. \u00a9 iStockphotos
\nBotox is facing stiff competition
\nPharma giant AbbVie is buying Botox maker Allergan for $63bn. That\u2019s a huge sum given the target\u2019s uncertain prospects. Matthew Partridge reports.<\/p>\n\n\n\n

Yet another \u201cpharmaceutical behemoth\u201d looks set to emerge, says Chris Isidore on CNN. AbbVie (NYSE: ABBV) has announced that it will buy Allergan (NYSE: AGN) for $63bn. The latter\u2019s shares jumped nearly 30% on the news. Takeover activity in the sector has intensified recently, with Pfizer announcing an $1bn takeover of Array a few days ago.Earlier this year, Bristol-Myers Squibb offered $74bn for Celgene, though that deal has yet to be approved.<\/p>\n\n\n\n

There is strategic logic to the deal, says The Wall Street Journal. Buying Allergan would allow AbbVie to dominate the $8bn-plus market for Botox and other beauty drugs, along with several \u201cpopular eye treatments\u201d. Along with \u201csome overlap in treatments for brain, women\u2019s health, stomach and other disorders\u201d, the combination \u201cwould take AbbVie into the new realm of frown-line smoothing, eyelash lengthening and double-chin removal\u201d. What\u2019s more, Allergan\u2019s nearly $16bn in yearly revenue \u201cwould also give AbbVie another source of cash to hunt for a new generation of products\u201d.<\/p>\n\n\n\n

Propping up the pipeline
\nThis\u201cblockbuster transaction\u201d is driven primarily by AbbVie\u2019s desperate need to find some way to replenish its product pipelines, say Arah Massoudi and Eric Platt in the Financial Times. AbbVie\u2019s Humira, the world\u2019s top treatment for inflammatory diseases, is set to face competition from generic versions as the drug goes off patent in America. Even before striking the deal for Allergan, AbbVie had splashed out $21bn on biopharma group Pharmacyclics in 2015 \u201cin a bid to bolster its drug pipeline\u201d; it also bought Stemcentrx for around $10bn.<\/p>\n\n\n\n

If AbbVie assumes that buying Allergan will help it improve its pipeline, it should think again, says Max Nisen on Bloomberg. Allergan is notorious for its \u201cageing products, questionable deals, and research failures\u201d, which have prompted Allergan\u2019s own investors to call \u201cfor a breakup of the company or a change in management\u201d. For instance, despite Botox\u2019s \u201cimpressive brand recognition and a solid grip on the market\u201d, its long-term potential is uncertain owing to new drugs from competing firms, which aim to tackle both wrinkles and migraines (the other medical use for Botox).<\/p>\n\n\n\n

Not only does Allergan fail to provide more than \u201ca temporary facelift\u201d but the 45% premium to the current price makes it \u201cexcessively expensive\u201d, says Robert Cyran for Breaking Views.<\/p>\n\n\n\n

Even if the deal delivers the projected annual savings of $2bn, this still doesn\u2019t justify the $20bn cost of the transaction, not to mention the \u201chefty\u201d $60bn in assumed and newly raised debt. Given the fact that Big Pharma \u201chas a miserable track record delivering value from large deals\u201d, it\u2019s no surprise that the announcement of the deal has wiped $15bn off AbbVie\u2019s market value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source :- moneyweek.com Home > Company news > Allergan: AbbVie\u2019s expensive facelift Allergan: AbbVie\u2019s expensive facelift By: Dr Matthew Partridge […]<\/p>\n","protected":false},"author":1,"featured_media":386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[635,634,69,636],"class_list":["post-385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cosmetic-plastic-surgery","tag-beauty","tag-expensive","tag-facelift","tag-fitness"],"yoast_head":"\nAllergan: AbbVie\u2019s expensive facelift - MyMedicPlus<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mymedicplus.com\/blog\/allergan-abbvies-expensive-facelift\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allergan: AbbVie\u2019s expensive facelift - 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