Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →AbbVie paid Boehringer $595M upfront plus $1.6B in potential milestones for Phase III anti-IL-23 BI 655066—taking sole worldwide marketing rights to a key…
Skyrizi FDA approval validated AbbVie's $595M Boehringer buyout; analysts highlighted the asset as a centerpiece of AbbVie's stated $35B+ non-Humira immunology…
AbbVie positioned Skyrizi against Stelara on superior PASI 90 trial data and priced $59K annual maintenance below leading rivals; Cosentyx remained 'fast…
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AbbVie paid Boehringer Ingelheim $595M to terminate their risankizumab collaboration, giving AbbVie sole worldwide rights. The buyout occurred just before FDA approval of Skyrizi for plaque psoriasis on April 23, 2019. Post-close outcome: the buyout proved decisively value-accretive. Skyrizi became AbbVie's single largest product, overtaking Humira, with global net revenue of $11,718M in full-year 2024 (AbbVie FY2024 8-K) and approximately $17.5B in full-year 2025 (Q4 2025 earnings), making the $595M one-time payment one of the most accretive rights buyouts of the decade.
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| AbbVie Inc. / Boehringer Ingelheim GmbH (Risankizumab buyout) (this deal) | 2019 | $595M | — |
| AbbVie Inc. / Boehringer Ingelheim GmbH | 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 |
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