AbbVie Acquiring Allergan for $63 Billion

                                                                                          Issue # 2966 | June 26th, 2019      





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AbbVie Acquiring Allergan for $63 Billion

AbbVie has made public plans to acquire Allergan for about $63 billion, in one of the biggest mergers in the health care industry this year. In acquiring Allergan, AbbVie gets to bypass the risky process of research and development by buying a portfolio of popular products as it faces the loss of patent protection for Humira, a treatment for rheumatoid arthritis that is the world's top-selling drug. The deal is the second-biggest takeover in the pharmaceutical industry announced this year, after Bristol-Myers Squibb agreed to buy Celgene, a maker of anticancer drugs, for $74 billion, against the backdrop of the health care industry's mounting interest in such deals. Learn More




Patent Office Reopens Major CRISPR Battle Between Broad Institute and Univ. of California

The U.S. patent office has declared an interference between a dozen key patents awarded to the Broad Institute on the genome-editing technology CRISPR and 10 CRISPR patent applications submitted by the University of California and its partners. The declaration of an interference means that the patent office has determined that one or more patent applications describe inventions which are substantially the same as those for which patents have already been issued. In this case, the patents awarded to the Broad, beginning in 2014. UC and the Broad already went through an interference proceeding that went all the way to federal appeals court, with the Broad prevailing. Learn More




Akorn Receives FDA Warning Letter for Another Manufacturing Plant
 
Akorn has received a warning letter from the U.S. FDA regarding its manufacturing facility in New Jersey, the latest in a string of setbacks for the generic drugmaker. The FDA warning is the second that Akorn has received this year and follows an inspection of the company's Somerset, New Jersey-based plant in July and August 2018. In January, the agency issued a warning letter for Akorn's other manufacturing plant in Decatur, Illinois after the drugmaker did not resolve previously highlighted violations such as failure to follow procedures to prevent contamination of drugs produced at the plant. Learn More

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1948   U.S. Begins Berlin Airlift


On this day in 1948, U.S. and British pilots begin delivering food and supplies by airplane to Berlin after the city is isolated by a Soviet Union blockade. Learn More
 
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