Lake Bluff, Illinois-based United States AbbVie, a 2011 spin-off of Abbott Laboratories and a research-based pharmaceutical manufacturer, has announced its agreement to acquire Dublin, Ireland-based pharmaceutical manufacturer Allergan for approximately $63 billion. It is believed that AbbVie is preparing for the loss of patent-protected rheumatoid-arthritis treatment Humira to a generic versions now selling in Europe and which will enter the U.S. in 2023. Humira represents approximately 58.3% of AbbVie’s revenue in 2018.
The handwriting is on the wall. There will be personnel dislocations and reductions in force as duplicative functions are consolidated during a period of integration between the two companies. Even more serious will be the cost cutting necessary to compensate for the loss of billion-dollar profits caused by competitive biosimilar generic drugs.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?