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AbbVie closes acquisition of Irish-based Allergan

Posted on 14 days ago by Laurentina Kennedy

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AbbVie closes acquisition of Irish-based Allergan

Both pharma groups have large Irish operations

Pharma group Allergan is best known for the production of Botox. Photograph: Bloomberg

Pharma giant AbbVie has closed its $63 billion (€58 billion) acquisition of Botox-maker Allergan, having received the approval of the High Court and of all relevant competition authorities. The deal was first announced last summer.

It got the go-ahead from the Federal Trade Commission in the US last Tuesday after the two companies undertook to sell some products to Nestlé and transfer the rights to a Crohn’s treatment that is in development to AstraZeneca.

AbbVie operates from five sites in the Republic between Sligo, Cork and Dublin. Irish-domiciled Allergan operates in Mayo, Dublin and Galway.

AbbVie employs some 600 in the Republic, while Allergan employs around 1,700.