Trending News Today: AbbVie to Acquire Allergan for $63 Billion

AbbVie has announced that it will acquire Allergan for a transaction equity value of approximately $63 billion, according to a press release. In a statement, Richard A. Gonzalez, chairman and chief executive officer of AbbVie, called the move a transformational transaction for both companies and said that the addition of Allergan’s portfolio will enhance AbbVie’s strong growth platform. According to the release, the combined company will consist of several franchises across immunology, hematology oncology, medical aesthetics, neuroscience, women’s health, eye care, and virology.

On Tuesday, the FDA issued warning letters to 2 privately held companies for illegally selling unapproved, misbranded drugs containing kratom that claimed to cure opioid addiction, Reuters reported. According to the article, the FDA has not approved kratom for any medical use, although advocates say the substance helps ease pain and reduce symptoms of opioid withdrawal. The agency has also previously warned of traces of high levels of heavy metals such as lead in some kratom products, the article reported.

San Francisco has become the first major US city to ban the sale of e-cigarettes, The Associated Press reported. According to the article, the measure was passed after a second and final vote on Tuesday. The legislation is intended to curb underage use of e-cigarettes, although opponents of the ban argue that it will make it harder for adults to purchase an alternative to regular cigarettes, the article reported.