AbbVie Completes All Acquisitions Of Aierjian, And A Strong Portfolio Of Products Under Development Facilitates Long-term Sustainable Growth

- May 19, 2020-

On May 8, 2020, AbbVie (NYSE: ABBV), the top ten research biopharmaceutical company in the world, announced today that the company has completed the acquisition of Aierjian. The transaction received regulatory approval from all relevant government departments required by the acquisition agreement and approval from the Irish High Court.

 

Richard A. Gonzalez, Chairman and Chief Executive Officer of AbbVie, said: "This milestone acquisition is of great significance to our employees, shareholders and patients. We are very happy for this. Here, I would like to sincerely thank you for All employees who have made great efforts at this momentous turning point, whether you are from Aierjian or Aibowei. In the future, with a more diversified listed and research product portfolio, the new Aibowei will be in multiple The important therapeutic field occupies an advantageous position. At the same time, our financial strength will also support us to continue to invest in scientific research and innovation, and continuously respond to the unmet treatment needs of patients. I am proud of the two organizations, and I am full of the infinite possibilities in the future. look forward to."


This acquisition significantly strengthens and enriches AbbVie ’s revenue base and complements its superior position in multiple therapeutic areas. In the field of immunology, AbbVie owns Humira® and the recently launched Skyrizi ™ and Rinvoq ™; in the field of blood tumors, it owns Imbruvica® and Venclexta®. In the field of neuroscience, Aerjian's Botox® (Botox® Therapeutics), Vraylar® and Ubrelvy ™ will bring new growth opportunities; in the field of aesthetics, Aerjian's Botox® (Botox®) ) And Juvederm® (Juvederm®) and other global brands.

 

The diversified listed product portfolio will promote AbbVie's existing growth platform (except for Hummer) to achieve revenue of approximately US $ 30 billion in 2020, and the company's total revenue will likely exceed US $ 50 billion. At the same time, it will enhance the company's long-term growth potential, promote the growth of dividends and strengthen investment in innovation in various therapeutic areas. With the increase in operating cash flow, the company is expected to be able to repay incremental debt quickly.

 

At the same time as the transaction was completed, AbbVie's board appointed Thomas C. Freyman, the retired former vice president and chief financial officer of Abbott, as a member of the board. Previously, Mr. Freyman served on the board of Eljian.