AZN - AbbVie's Acquisition of Allergan Gets Help From Nestle and AstraZeneca
Some unlikely good Samaritans are going out of their way to help AbbVie (NYSE: ABBV) and Allergan (NYSE: AGN) complete the $63 billion merger deal the giant drugmakers announced last June. To appease antitrust regulators, AstraZeneca (NYSE: AZN) will take back control of an experimental psoriasis drug, and Nestle will acquire a gastrointestinal medication from Allergan.
Allergan was developing a monoclonal antibody that inhibits interleukin 23 (IL-23) called brazikumab for the treatment of Crohn's disease and ulcerative colitis. AbbVie recently launched its own IL-23 inhibitor, risankizumab, under the brand name Skyrizi for the treatment of psoriasis.
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