Allergan Endures Another R&D Setback With Rapastinel Failing Three Pivotal Studies
Investor unrest expected as Allergan’s NMDA receptor modulator rapastinel fails in Phase III depression program, coming shortly after J&J’s approval in the class with Spravato.
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Allergan was expected to announce soon that it would follow its shareholders' advice and split the company in two, but it's being acquired by AbbVie for $63bn instead, finally giving investors a big boost in their Allergan holdings after years of decline.