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Allergan, inc

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Allergan, inc

Allergan, inc
Public
Industry Eye care, neurosciences, medical dermatology, medical aesthetics, breast enhancement, obesity intervention and urologics
Fate bought by Allergan, plc when it was known as Actavis
Founded 1948
Headquarters Irvine, California
Area served
Over 100 Countries
Key people
Paul Bisaro, Executive Chairman
Revenue $6.2 billion (2013)[1]
Number of employees
11400 (2013)[1]
Website .com.allerganwww
Allergan headquarters in Irvine

Allergan, inc was a global pharmaceutical company focused on eye care, neurosciences, medical dermatology, medical aesthetics, breast enhancement, obesity intervention and urologics. Allergan, inc was formed in 1948, incorporated in 1950 and became a public company in 1970.

Contents

  • History 1
    • 2000–2009 1.1
    • 2010–2015 1.2
      • Attempted acquisition by Valeant Pharmaceuticals 1.2.1
  • Company Structure 2
  • Safety reports 3
    • The use of infant foreskin fibroblast in products 3.1
  • References 4
  • External links 5

History

The company can trace its routes back to 1948 and pharmacist Gavin S. Herbert, who in 1950 established Allergan Pharmaceuticals, Inc. Allergan focused on the discovery and development of novel formulations for speciality markets, as well as intimate collaboration with physicians and the scientific community. 1953 saw Allergan producing eye drops and formulating new products such as the first cortisone eye drop to treat allergic inflammation and the first ophthalmic steroid decongestant.[2]

Allergan became a public listed company in 1970, which the merged with SmithKline Beckman in 1980. By 1989 it was re-established as an independent entity.[2]

2000–2009

In July 2002, the Allergan ophthalmic surgical and contact lens care businesses were spun-off to create a new company, Advanced Medical Optics. In March 2006, Allergan acquired Inamed Corporation.

2010–2015

On March 1, 2013, the company acquired MAP Pharmaceuticals Inc., a development-stage company mainly researching the treatment of migraine and other oral drugs in Neurology for approximately $958 million. The principal products of this sub-company are under review with the US Food and Drug Administration (FDA).[3] In December 2013, the company sold its obesity intervention business to Apollo Endosurgery, Inc., for a cash payment of $75 million and a $15 million minority equity interest in Apollo Endosurgery.[4]

In November 2014 Actavis, plc announced its intention to acquire Allergan, inc, the manufacturer of Botox[5] Completion of the deal would increase its market capitalization to $147 billion.[6][7] On March 17, 2015, Actavis, plc completed the acquisition of Allergan, inc in a cash and equity transaction valued at approximately $70.5 billion. The combination created a $23 billion diversified global pharmaceutical company with commercial reach across 100 countries. In June 2015, Actavis, plc officially changed its name to Allergan, plc.[8]

In June Allergan, inc announced it would acquire Kythera Biopharmaceuticals for around $2.1 billion.[9]

Attempted acquisition by Valeant Pharmaceuticals

On April 22, 2014, details were released by

  • Allergan website
  • Allergan foundation

External links

  1. ^ a b "Allergan Today". allergan.co.uk. 
  2. ^ a b "Company History". allergan.co.uk. 
  3. ^ "Allergan, Inc.: quotes & news - Google Finance". google.com. 
  4. ^ "Allergan, Inc. Completes Sale of Obesity Intervention Business". 
  5. ^ "BBC News - Actavis to buy Botox-maker Allergan $66bn". BBC News. 
  6. ^ Caroline Chen (2014-11-17). "Actavis Surges to Top Drugmaker Ranks With Acquisitions". Bloomberg.com. 
  7. ^ Willhite, James (2014-11-17). "The Morning Ledger: Actavis Could Again Evade Treasury’s Grasp for Post-Inversion Tax Break". WSJ. 
  8. ^ "Actavis plc is now Allergan plc". Retrieved 16 June 2015. 
  9. ^ "Allergan to Acquire Kythera for $2.1B". GEN. 
  10. ^ "Valeant, Bill Ackman bid $45B for Botox-maker Allergan". Canadian Associated Press / CBC. 22 April 2014. Retrieved 22 April 2014. 
  11. ^ Serafino, Phil (28 May 2014). "Valeant raises offer for Allergan". Bloomberg. Retrieved 29 May 2014. 
  12. ^ Basak, Sonali (31 May 2014). "Valeant raises offer for Allergan for second time". Bloomberg. Retrieved 31 May 2014. 
  13. ^ Basak, Sonali (18 June 2014). "Valeant Begins Tender Offer for Allergan Hostile Takeover". Bloomberg. Retrieved 7 October 2014. 
  14. ^ Jef Feeley (27 August 2014). "Allergan Says Valeant Seeking Hearing on Shareholder Meeting". Bloomberg. Retrieved 7 October 2014. 
  15. ^ Koons, Cynthia (27 August 2014). "Allergan Sets December Shareholder Vote on Valeant Bid". Bloomberg. Retrieved 7 October 2014. 
  16. ^ Jef Feeley (27 August 2014). "Valeant, Ackman Win Bid to Fast-Track Allergan Case". Bloomberg. Retrieved 7 October 2014. 
  17. ^ David Welch (17 November 2014). "Actavis to Buy Allergan for $66 Billion, Tops Valeant Bid". Bloomberg.com. 
  18. ^ "Allergan - Allergan Reassures Patients and Surgeons of the Quality and Safety of Its Breast Implant Devices Sold and Distributed Worldwide". shareholder.com. 
  19. ^ Bronstein, Phil (18 July 2011). "What's in a face? You'd be surprised". SFGate. Retrieved 13 May 2015. 

References

The use of foreskin fibroblasts in some of the company's cosmetic products such as "Skinmedica" has caused controversy.[19]

The use of infant foreskin fibroblast in products

In 2011, FDA reported issues in the investigation of safety of silicone gel-filled breast implants. However, the company announced later the reassurance to patients of the safety and exclusion of its drugs from the investigated breast implant devices, stating that all of its products are above safety standards around the world.[18]

Safety reports

Allergan, inc
(Acq 2015 by Actavis, plc)
  Kythera Biopharmaceuticals
(Acq 2015)


  MAP Pharmaceuticals Inc
(Acq 2013)


  Inamed Corporation
(Acq 2006)


  Advanced Medical Optics
(Spun off in 2006)





Company Structure

[17] bid for approximately $66 billion, putting an end to Valeants hostile takeover attempt.white knight in a Allergan announced it would acquire Actavis, plc On November 17, 2014, [16] reported that Valeant and Pershing Square had won their case with the Chancery Judge setting an October 6 date for the aforementioned trial.Bloomberg In the afternoon of August 27, [15] On the same day Allergan announced that they had set a December shareholder vote to decide whether the company should replace part of the board of directors.[14] asked a Chancery Judge to set a trial for September 24, 2014 to decide on whether Valeant and Pershing had properly secured enough support from Allergan shareholders to force a meeting of investors to consider replacing a majority of the company’s directors.Pershing Square Capital Management In August 27, 2014, Valeant and [13] On June 18, Valeant began its tender offer for a hostile takover of Allergan.[12] On May 31 the offer was revised and increased to $53.3 billion.[11]

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