Company AbbVie announced the completion of the acquisition of Allergan company after receiving regulatory approval from all government authorities, and the approval of the Supreme court of Ireland. The transaction value is estimated at 63 billion dollars.
Diversified portfolio of drugs was formed after the merger of the two companies, will allow to increase its existing platform growth AbbVie with approximately 30 billion dollars in revenue for the full year 2020 to total revenues of approximately $ 50 billion. It will also allow the company to increase the long-term growth potential to increase dividends and to invest in innovation in various therapeutic areas. The company expects quick repayment of additional debt through increased operating cash flows.
In connection with the closing of the transaction, the Board of Directors of AbbVie has elected a new member of the Board of Directors Thomas K. Freiman, who retired from the position of Executive Vice President and chief financial officer of Abbott. Freiman was a member of the Board of Directors of Allergan.