AbbVie's Recent ImmunoGen Acquisition Looks Brilliant: Here's Why
Drug patents don't last forever, so pharmaceutical companies are constantly looking for the next big treatment to broaden their total portfolio of offerings.
When it was clear a few years ago that biosimilars for 's (NYSE: ABBV) Humira would be hitting the market, management knew it had work to do. Humira is the best-selling prescription drug in history, putting AbbVie on the map. But nothing lasts forever, and the company began taking steps to ensure its future success.
First, AbbVie completed the blockbuster $63 billion acquisition of Allergen in 2020. That brought commercial-stage drugs, like Botox and Juvederm, to AbbVie. It also brought knowledge from Allergen's long research and development (R) programs in aesthetics, neuroscience, and eye care.
Source Fool.com
AbbVie Inc. Stock
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