AbbVie sells biologics plant to Pharmaron, fueling the China company's cell and gene therapy ambitions

Roughly half a year after closing its $63 billion megamerger with Allergan, AbbVie is letting go of the drugmaker's Liverpool, England biologics plant.

AbbVie agreed to sell off the biomanufacturing plant to China-based Pharmaron for $118.7 million in cash. The move comes shortly after Pharmaron bought out Absorption Systems in the U.S., paving the way for a cell and gene therapy platform that runs the gamut from early research to commercial manufacturing.