Pharma BD Deal Intelligence
A $595M license payment turned into a $17.5B/year blockbuster that is single-handedly replacing Humira — arguably the best-returning deal in AbbVie's history.
Full analysis, sources & comparables →AbbVie handed over $595 million upfront for a Phase 3 anti-IL-23 with PASI 90 of 69% at week 36 versus 30% for ustekinumab — a clear bid to build a Humira…
AbbVie gained sole commercialization lead on a phase 3 IL-23 inhibitor plus rights to an anti-CD40 antibody, with Boehringer retaining co-promote rights in…
Skyrizi's FDA approval validated AbbVie's 2016 bet, with roughly 80% of phase 3 patients hitting PASI 90 — but the launch faced entrenched competition from…
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AbbVie and Boehringer Ingelheim entered a global immunology collaboration. AbbVie paid $595M upfront plus up to $1.6B in milestones for license to BI 655066 (risankizumab), an anti-IL-23 antibody in Phase 3 for psoriasis, plus rights to anti-CD40 antibody BI 655064. AbbVie became sole commercialization lead, with BI retaining co-promote option in asthma. Risankizumab approved as Skyrizi in 2019.
A $595M license payment turned into a $17.5B/year blockbuster that is single-handedly replacing Humira — arguably the best-returning deal in AbbVie's history.
Assessment window: 10yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| AbbVie Inc. / Boehringer Ingelheim GmbH (this deal) | 2016 | $2.2B | 95 |
| AbbVie Inc. / Genmab A/S | 2020 | $3.9B | 81 |
| AbbVie Inc. / Pharmacyclics Inc. | 2015 | $21.0B | 79 |
| AbbVie Inc. / Apogee Therapeutics, Inc. | 2026 | $10.9B | 72 |
| AbbVie Inc. / ImmunoGen Inc. | 2023 | $10.1B | 69 |
| AbbVie Inc. / Gilgamesh Pharmaceuticals Inc. | 2024 | $2.0B | 64 |
| AbbVie Inc. / MedinCell S.A. | 2024 | $1.9B | 61 |
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