AbbVie’s $63 billion bid for Allergan has just received final approval from the European Commission and is now awaiting word from the US Federal Trade Commission (FTC), which is still reviewing the pending transaction. The tie-up, as covered by IAM, has been described as a short-term solution for AbbVie which is preparing for the loss of exclusivity of its key brand Humira in 2023.
Read MoreSanofi announced a $3.4 billion deal to purchase US biotech company Principia Biopharma. It’s the third-largest pharmaceutical acquisition of 2020 and the company’s second big ticket deal since Paul Hudson joined as CEO in September 2019. The former Novartis executive has made his priorities at Sanofi clear: cut costs and invest in innovative - and lucrative - medicines.
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