Home Stock Abbvie plans to elevate $2 billion cap on offers

Abbvie plans to elevate $2 billion cap on offers

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Abbvie plans to elevate $2 billion cap on offers

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© Reuters. FILE PHOTO: An indication stands outdoors a Abbvie facility in Cambridge, Massachusetts, U.S., Might 20, 2021. REUTERS/Brian Snyder/

(Reuters) – Abbvie will elevate a self-imposed $2 billion restrict on acquisitions and mergers positioned following a $63 billion deal for Botox maker Allergan (NYSE:) in 2020 that shot up its debt, the corporate’s chief govt officer advised the Wall Avenue Journal.

Chief Government Officer Richard Gonzalez mentioned the corporate now has the capability “to do extra”, in an interview with WSJ that was revealed on Monday.

The feedback come at a time when the drugmaker is starting to face U.S. competitors for its blockbuster rheumatoid arthritis drug, Humira, a significant income driver for years.

The corporate didn’t instantly reply to a Reuters request for remark.

Abbvie is hoping to interchange the lack of income from Humira via its newer immunology medication Skyrizi and Rinvoqn, and has forecast gross sales of over $21 billion from the 2 merchandise in 2027.

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