FTC review periods end for AbbVie-ImmunoGen $10.1B deal and $4B BMS-RayzeBio buyout
AbbVie moved ahead with its $10.1 billion acquisition of antibody-drug conjugate biotech ImmunoGen, while Bristol Myers Squibb’s big acquisition of radiopharmaceuticals biotech RayzeBio is likely on the way too, despite the Federal Trade Commission’s heightened attention on pharma M&A.
AbbVie announced the closure of its buy on Monday, several days after the end of the waiting period for the FTC. The 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) allowed the FTC to object to the AbbVie-ImmunoGen proposition until Feb. 7.
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