BRIEF—AbbVie finally completes acquisition of Allergan

US pharma major AbbVie has finally completed its $63 billion acquisition of Ireland-incorporated Allergan, following receipt of regulatory approval from all government authorities required by the transaction agreement and approval by the Irish High Court.

On Wednesday, the US Federal Trade Commission (FTC) accepted the proposed consent order in connection with AbbVie's pending buy of Allergan, with certain divestment requirements.

The acquisition, first announced in June 2019, was cleared by the European Commission in early March this year, also with the divestiture of brazikumab.

Allergan common stock ceased trading on the New York Stock Exchange as of the close of trading Friday.

Richard Gonzalez, chairman and chief executive of AbbVie, said: “The new AbbVie will be a well-diversified leader in many important therapeutic categories, with both on-market and pipeline assets, and our financial strength will allow us to continue to invest in innovative science and continue to serve unmet medical needs of patients that rely upon us.”