AbbVie Korea has announced the successful integration of its business with Allergan Korea, and as of Monday, the two entities have merged into a single organization.
The domestic merger follows AbbVie acquiring Allergan in May 2020.
This year also marks the 10th anniversary of AbbVie's founding in 2013 through a corporate spin-off from Abbott Laboratories.
The company said it will take a new leap forward as "One AbbVie" by integrating its business operations management systems and corporate culture with Allergan.
The combined company will operate as a single entity in Korea with a diversified portfolio of therapeutics and an innovative pipeline with leadership in the emerging therapeutic areas of immunology, oncology, neuroscience, ophthalmology, virology, and aesthetics.
As part of the integration process, AbbVie Korea recently expanded its office space and renovated it into a smart office to consolidate the two companies' workspaces.
Following AbbVie's acquisition of Allergan, the two companies have been collaborating to integrate their corporate cultures by organizing annual employee programs like Culture Week, company-wide training programs, and Possibility Week.
The consolidation of the Korean operations will bring the total number of AbbVie's employees in Korea to approximately 330 as of Tuesday.
"We are pleased to have successfully completed the integration of our operations management systems and legal entities," AbbVie CEO Kang Sook-hyun said. "The new AbbVie Korea will be able to expand its therapeutic areas based on the strong pipeline and leading portfolio of both companies, as well as maximize synergies by integrating each other's expertise and experience."
The company will also continue to strive to provide innovative solutions that will change the lives of patients and people, Kang added.
AbbVie is a leader in immunology and has successfully introduced autoimmune disease treatment Humira and Skyrizi for psoriasis and psoriatic arthritis, and Rinvoq for rheumatoid arthritis, ankylosing spondylitis, psoriatic arthritis, atopic dermatitis, and ulcerative colitis.
The company also delivers innovative therapies such as Maviret for hepatitis C and Venclexta for chronic lymphocytic leukemia and acute myeloid leukemia.
Allergan has a diversified portfolio of therapeutics, including Ozurdex for diabetic macular edema and uveitis, Combigan for glaucoma, Ganfort and Xen implant medical devices in ophthalmology, and Botox in neuroscience for stroke-related upper extremity spasticity and chronic migraines.
Allergan Aesthetics offers Botox, a botulinum toxin formulation for the treatment of facial wrinkles, Juvederm, a hyaluronic acid filler for temporary facial volume restoration and fine lines, and Coolsculpting, a non-invasive way to reduce subcutaneous fat deposits.