May 6, 2020 - Health

FTC blesses AbbVie's $63 billion takeover of Allergan

A blue AbbVie sign outside of its headquarters building.

Photo: AbbVie

The Federal Trade Commission has signed off on AbbVie's $63 billion acquisition of Allergan, but antitrust regulators said the companies must divest three drugs — two of which will be sold to Nestlé — that would have consolidated too much power under one roof.

The bottom line: This was a contentious decision among the FTC commissioners. But now AbbVie — which makes the world's best-selling drug, Humira, and has been accused of playing games as the autoimmune drug's patent lapses — is significantly expanding by acquiring the maker of Botox.

Go deeper