AbbVie reaches a deal with Shire

CHICAGO — AbbVie has finalized a deal for Dublin-based specialty pharmaceuticals company Shire for $54.7 billion, according to Reuters.

AbbVie is buying Shire to cut both its U.S. tax bill, as well as its reliance on the arthritis medication Humira. The medicine loses patent protection in 2016. AbbVie rakes in almost 60% of revenue from it, Reuters reported.

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