Allergan is a leading pharmaceutical company that was founded in the year 1948 and is headquartered in Dublin, Ireland. The company is known for its innovative and diversified product portfolio that includes prescription drugs, medical aesthetics, and eye care products.
In June 2019, AbbVie, a research-based biopharmaceutical company based in North Chicago, announced its acquisition of Allergan for approximately $63 billion. The acquisition was completed in May 2020, and since then Allergan has been a part of AbbVie.
There are several reasons why AbbVie decided to acquire Allergan. Firstly, Allergan’s product portfolio complemented AbbVie’s existing portfolio, and the acquisition allowed AbbVie to expand its offerings in the areas of medical aesthetics and eye care. Secondly, Allergan was a leader in the pharmaceutical industry with a strong presence in key markets such as the United States, Europe, and Canada. Allergan is the manufacturer of the FDA-approved drug Botox which is in high demand in the dermal filler injection market, you can purchase Botox online at our Fillersupplies website if you are licensed. This acquisition allowed AbbVie to expand its global reach and gain a larger share of the market.
Furthermore, Allergan had a strong pipeline of research and development, which AbbVie saw as an opportunity to drive future growth. The acquisition also provided AbbVie with a more balanced revenue stream as Allergan’s products offered a different revenue profile than AbbVie’s existing portfolio, which was primarily focused on pharmaceuticals.
In conclusion, the acquisition of Allergan by AbbVie was a strategic move that allowed AbbVie to expand its product portfolio, global reach, and future growth prospects. The combination of the two companies has created a leading pharmaceutical player with a strong presence in key markets and a diversified product portfolio.