May 5, 2020 / 10:13 PM / a month ago

AbbVie wins U.S. antitrust approval to buy Allergan

WASHINGTON, May 5 (Reuters) - Drugmaker AbbVie has won U.S. antitrust approval to buy Botox-maker Allergan, a blockbuster $63 billion deal when it was announced last year, the companies announced on Tuesday.

To win the approval from the Federal Trade Commission, the companies said they agreed to divest brazikumab, a drug in development to treat autoimmune diseases, and Zenpep, a treatment for pancreatic problems often caused by cystic fibrosis.

AbbVie, which has been under pressure to diversify its portfolio, said in June 2019 that it would acquire Allergan in a deal that gives AbbVie control over the lucrative wrinkle treatment Botox and buys time to seek new growth before its arthritis treatment Humira loses U.S. patent protection. (Reporting by Diane Bartz Editing by Chris Reese)

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