AbbVie to buy Allergan

AbbVie, a biopharmaceutical company, said it plans to buy Botox maker Allergan for about $63 billion, to help reduce its reliance on blockbuster arthritis treatment Humira.

Humira, the world's best-selling drug, already has cheaper versions available in Europe and has its US patents expiring in 2023.

AbbVie’s Chief Executive, Richard Gonzalez, will be in charge of the combined company and remain chairman and chief executive through 2023.

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