Pharma BD Deal Intelligence

AbbVie Inc. / Allergan, Inc.

2019 · Acquisition/Merger · $63.0B · Complete

Announcement Sentiment

Positive

Outcome Score

Largely worked — most objectives met.

AbbVie acquired Allergan in a $63 billion cash-and-stock transaction, diversifying its portfolio beyond Humira into aesthetics (Botox), neuroscience, and eye care, creating a combined revenue base of approximately $50 billion.

Did it work? Outcome assessment

AbbVie grew from $33B to $56B revenue; Allergan Aesthetics + Skyrizi/Rinvoq offset Humira

Strategic verdict

Achieved Stated Rationale

Assessment window: 10yr post-close.

Key facts

Announced Jun 25, 2019
Closed May 08, 2020
Deal value $63.0B
Deal type Acquisition/Merger
Therapeutic area Gastroenterology, Immunology, Neurology, Oncology, Ophthalmology
Key assets Botox (onabotulinumtoxinA), Botox Cosmetic, Juvederm (dermal fillers), CoolSculpting, Vraylar (cariprazine), Ubrelvy (ubrogepant), Linzess (linaclotide), Lo Loestrin, Restasis (cyclosporine ophthalmic)
Mechanism Botulinum neurotoxin type A, D3/D2 partial agonist, CGRP receptor antagonist

See the full interactive analysis, sources & comparables →

← Browse all deals · How we score deals