AbbVie Inc. has agreed to pay $63 billion for rival drugmaker Allergan Plc, the latest huge merger in a pharmaceutical sector rapidly being reshaped by deals.
Allergan will get $188.24 a share in cash and stock, according to a statement announcing the deal, a 45% premium to its closing price on June 24. AbbVie declined as much as 15% to $65.56, the biggest intraday drop since 2015. Allergan shares climbed as much as 30%.
The proposed takeover offers a solution to long-standing challenges at both companies. AbbVie gets a set of products big enough to diversify its revenue from Humira, ...
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