Cookie policy: This site uses cookies (small files stored on your computer) to simplify and improve your experience of this website. Cookies are small text files stored on the device you are using to access this website. For more information please take a look at our terms and conditions. Some parts of the site may not work properly if you choose not to accept cookies.

Join

Subscribe or Register

Existing user? Login

sections

Pharmaceutical industry

AbbVie and Shire merger called off

The proposed £32bn merger of the US pharmaceutical company AbbVie and Dublin-based Shire has been called off, the two companies announced on 20 October 2014.

AbbVie had a change of heart after it received a US treasury notice about the merger and decided that it could no longer recommend that its shareholders vote in favour of the move.

Details of the notice were not revealed but AbbVie said that it had introduced an “unacceptable level of risk and uncertainty” that meant that the deal, which had been agreed in July 2014, was now off.

AbbVie was due to pay Shire a $1.63bn break fee. 

Citation: The Pharmaceutical Journal DOI: 10.1211/PJ.2014.20066940

Have your say

For commenting, please login or register as a user and agree to our Community Guidelines. You will be re-directed back to this page where you will have the ability to comment.

Recommended from Pharmaceutical Press

RPS publications

Pharmaceutical Press is the publishing division of the Royal Pharmaceutical Society, and is a leading provider of authoritative pharmaceutical information used throughout the world.

Visit rpharms.com
  • Print
  • Share
  • Comment
  • Save
  • Print Friendly Version of this pagePrint Get a PDF version of this webpagePDF

Newsletter Sign-up

Want to keep up with the latest news, comment and CPD articles in pharmacy and science? Subscribe to our free alerts.