AbbVie completes $63B Allergan merger

AbbVie completed its $63 billion acquisition of Allergan May 8, adding around $30 billion in full-year 2020 revenues.

What you should know:

1. After closing the acquisition, AbbVie believes its combined full-year 2020 revenues will come in at around $50 billion.

2. As a result of the merger, AbbVie's board added former Abbott Executive Vice President Thomas Freyman to its board. Mr. Freyman previously served on Allergan's board.

3. AbbVie made the transaction to diversify its revenue base, complement its portfolio in the immunologic and hematologic oncology fields, and create new opportunities in the neuroscience and global aesthetics segments.

AbbVie Chair and CEO Richard Gonzalez 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."

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