$($From a joint press release, heavily edited$)$

In July $2022,$ AbbVie and iSTAR Medical SA entered into an alliance to further develop and commercialize iSTAR's MINIject$$ innovative minimally invasive glaucoma surgical device. The alliance is meant to support iSTAR's development and commercialization of MINIject$$ and provide AbbVie with an opportunity to expand its eye care business.

Due to its strong global presence in eye care and glaucoma, AbbVie claims to be well$-$positioned to help bring MINIject$$ to patients and glaucoma specialists, which would enhance its own innovative portfolio of glaucoma treatments. iSTAR claims the alliance would accelerate its own mission to help treat more glaucoma patients globally.

iSTAR Medical was to receive a $$60$M upfront payment from AbbVie to finance initial clinical studies and commercialization of MINIject$.$ In exchange, AbbVie got the exclusive rights to acquire iSTAR Medical after the initial clinical studies, and to lead the global commercialization of MINIject$$ after that.

If AbbVie acquires iSTAR, iSTAR$$s stockholders would receive contingent payments of up to $$475$M based on a set of predetermined milestones.

In exchange for its initial investment, AbbVie received the exclusive right $($but without the obligation$)$ to buy iSTAR Medical for a pre$-$specified price subject to iSTAR Medical meeting certain milestones.

This agreement to pay an acquisition price contingent on meeting certain milestones is an example of a solution that would help AbbVie address what problem?

a$.$ Addressing AbbVie's lack of a current cash cow business

b$.$ Solving Abbvie's problem of incurring a diversification discount

c$.$ Mitigating problems associated with the winner's curse in M&A

d$.$Addressing problems of cultural differences for M&A integration

e$.$An attempt to reduce AbbVie's excessive related diversification