AbbVie and Allergan sign consent decree agreement with FTC

18 March 2020

US pharma major AbbVie (NYSE ABBV) and Ireland incorporated Allergan (NYSE: AGN) today announced that they have entered into a consent decree agreement with staff of the US Federal Trade Commission (FTC) regarding AbbVie's pending $63 billion acquisition of Allergan.

Under the terms of the consent decree, the companies have agreed to divest brazikumab, an investigational interleukin (IL)-23 inhibitor in development for autoimmune diseases, to AstraZeneca (LSE: AZN).

It will also divest Allergan ‘s Zenpep (pancrelipase), which is a direct competitor to AbbVie’s Creon (pancrelipase), a treatment for exocrine pancreatic insufficiency due to cystic fibrosis and other conditions, to Nestle (NESN: VX). Nestle also will be acquiring Viokace (pancrelipase), another pancreatic enzyme preparation, as part of the same transaction.

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