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EU gives green light to mega deal of US pharmaceutical companies

The European Commission has agreed on certain conditions to the mega takeover of the American pharmaceutical company Allergan by its counterpart AbbVie. Allergan has to sell its medicine for the treatment of intestinal diseases, which is still under development. The Americans agree with that.

Last year, AbbVie announced that it would be putting $ 63 billion on the table for Allergan. The annual turnover of the merged company amounts to approximately $ 48 billion with a presence in more than 175 countries. Upon completion of the deal, the shareholders of AbbVie will own 83 percent of the new merged entity and the remainder will be held by Allergan shareholders.

AbbVie is active with remedies for rheumatism and psoriasis. Allergan is best known for botox. By working together, the companies want to strengthen their market positions, grow stronger and realize financial benefits.

According to the committee, the disposal of Allergan’s medicine is necessary for competition reasons. It ensures that people with bowel diseases have a wide choice of treatments in the future and are assured of reasonable prices.

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