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AbbVie to carve out new Allergan Aesthetics unit following $84.2B deal

AbbVie Inc. will create a new business unit named Allergan Aesthetics following the company's $84.2 billion acquisition of Irish pharmaceutical giant Allergan PLC.

North Chicago, Ill.-based AbbVie said Allergan Aesthetics, to be based in Irvine, Calif., will include aesthetic products such as Botox Cosmetic, dermal fillers collection Juvederm and body-contouring treatment Coolsculpting.

Carrie Strom, senior vice president of U.S. medical aesthetics at Allergan, will be president of global Allergan Aesthetics and will report to AbbVie Chairman and CEO Richard Gonzalez.

AbbVie said Allergan's eye care and specialty businesses — including Botox Therapeutics, central nervous system, women's health and gastrointestinal diseases — will be integrated into AbbVie's existing business. Several Allergan employees have accepted leadership positions in the combined company across these particular franchises.

Gonzalez will head the future combined company as chairman and CEO. AbbVie Vice Chairman and Chief Commercial Officer Carlos Alban and Executive Vice President and CFO Robert Michael will continue in their roles at the combined company.

The future of Allergan CEO Brent Saunders was not detailed in AbbVie's Jan. 8 release. The executive is due to receive a $38.7 million compensation package if he is let go as part of the acquisition deal. Saunders previously agreed to join the AbbVie board after the transaction closes.

AbbVie expects to close the acquisition of Allergan in the first quarter.