Allergan: Difference between revisions
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{{About|the company known as Allergan |
{{About|the company known as Allergan plc|the original company that was acquired by Actavis|Allergan, Inc.{{!}}Allergan, Inc}} |
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{{Infobox company |
{{Infobox company |
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| name = Allergan |
| name = Allergan plc |
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| image = Allergan plc logo.svg |
| image = Allergan plc logo.svg |
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| type = [[ |
| type = [[Public limited company]] |
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| traded_as = {{NYSE|AGN}}<br>[[S&P 100 |
| traded_as = {{NYSE|AGN}}<br>[[S&P 100]] component<br>[[S&P 500]] component |
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| industry = [[ |
| industry = [[Pharmaceutical industry]] |
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| foundation = {{start date and age|2013|05|16}} |
| foundation = {{start date and age|2013|05|16}} upon the combination of Allergan Finance, LLC ([[Actavis]]) & [[Warner Chilcott]]<br><br>{{start date and age|2015|03|17}} renamed to Allergan Plc upon the merger of [[Allergan, Inc]] and [[Actavis]] |
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| location = [[Dublin]], [[Ireland]] |
| location = [[Dublin]], [[Ireland]] |
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| locations = 40 manufacturing facilities, 27 global R&D centers and marketing/sales facilities worldwide. |
| locations = 40 manufacturing facilities, 27 global R&D centers and marketing/sales facilities worldwide. |
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| area_served = ~100 countries |
| area_served = ~100 countries |
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| key_people = {{nowrap|[[Brenton L. Saunders]]}}<br>{{nowrap|<small>([[Chairman#Public_corporations|Chairman]], [[ |
| key_people = {{nowrap|[[Brenton L. Saunders]]}}<br>{{nowrap|<small>([[Chairman#Public_corporations|Chairman]], [[President (corporate title)|President]], & [[CEO]])</small>}}<br>{{nowrap|Maria Teresa Hilado}}<br>{{nowrap|<small>([[CFO]])</small>}} |
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| products = Branded |
| products = Branded [[pharmaceutical]]s |
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| revenue = {{nowrap|{{increase}} |
| revenue = {{nowrap|{{increase}} $15.940 billion (2017)}} |
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| operating_income = {{nowrap|{{ |
| operating_income = {{nowrap|{{decrease}} -$5.921 billion (2017)}} |
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| net_income = {{nowrap|{{ |
| net_income = {{nowrap|{{decrease}} -$4.403 billion (2017)}} |
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| assets = {{nowrap|{{decrease}} |
| assets = {{nowrap|{{decrease}} $118.351 billion (2017)}} |
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| equity = {{nowrap|{{decrease}} |
| equity = {{nowrap|{{decrease}} $73.837 billion (2017)}} |
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| owner = [[The Vanguard Group]]<br>[[Wellington Management Company]]<br>[[BlackRock]]<br>[[State Street Corporation]]<br>[[Fidelity Investments]] |
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| num_employees = {{nowrap|~16,700 <small>(2016)</small>}} |
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| num_employees = {{nowrap|~16,700 (2016)}} |
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| homepage = {{url|http://www.allergan.com}} |
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| footnotes = <ref name |
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1578845/000156459017002433/agn-10k_20161231.htm | title=Allergan plc 2017 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref>{{cite web | url=http://www.nasdaq.com/symbol/agn/ownership-summary | title= Allergan plc. Ownership Summary | publisher=[[NASDAQ]]}}</ref>) |
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}} |
}} |
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[[File:Actavis.JPG|thumb|275px|Allergan facility in [[Iceland]] ]] |
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'''Allergan plc''' is a multinational company in the [[pharmaceutical industry]] that produces branded drugs and performs pharmaceutical research and development. It was formed on February 18, 2015, when its predecessor, [[Actavis]], acquired [[Allergan, Inc]] and assumed the Allergan name. |
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The company markets brand products in 6 medical categories: Aesthetics/Dermatology/Plastic Surgery; Neurosciences/CNS; Eye Care; Women’s Health and Urology; GI and Cystic Fibrosis; and Cardiovascular Disease and Infectious Disease. The company's products include [[Botox]], Namenda ([[Memantine]]), Restasis ([[Ciclosporin]]), Linzess ([[Linaclotide]]), Bystolic ([[Nebivolol]]), Juvederm ([[Injectable filler]]), Latisse ([[Bimatoprost]]), Lo Loestrin Fe, Estrace ([[Estradiol]]), [[Ceftaroline fosamil |Teflaro]], Dalvance ([[Dalbavancin]], Ozurdex ([[Dexamethasone]]), Optive, Natrelle, Viibryd ([[Vilazodone]]), Liletta ([[Levonorgestrel]]), Saphris ([[Asenapine]]), Enablex ([[Darifenacin]]), Actonel ([[Risedronic acid]]), Androderm ([[testosterone (medication)|Testosterone]]), and Gelnique ([[Oxybutynin]]).<ref name=10K/> |
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'''Allergan, Plc''' is a multi-national pharmaceutical that produces branded and generic drugs, and performs pharmaceutical research and development. It was formed on February 18, 2015, when the company formerly known as [[Actavis|Actavis, Plc]] changed its name. This was completed as of June 15, 2015. Actavis, Plc then became ''Actavis'' which now forms the American Generics division of the company.<ref>{{cite news|url=https://www.wsj.com/articles/actavis-earnings-soar-as-closing-of-allergan-deal-looms-1424260951|title=Actavis Adopting Allergan Name; Earnings Soar as Closing of Deal Looms |work=The Wall Street Journal|date=18 February 2015|accessdate=19 February 2015|first=Michael|last=Calia}}</ref><ref>{{cite news|url=https://www.wsj.com/articles/actavis-changes-name-to-allergan-after-deal-for-botox-maker-1434370774|title=Actavis Changes Name to Allergan After Deal For Botox Maker |work=The Wall Street Journal|date=15 June 2015|accessdate=15 June 2015|first=Neil|last=Haggerty}}</ref> |
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==History== |
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===Predecessor companies=== |
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In the spring of 1983, colleagues [[Allen Chao]] and David Hsia formed Watson Pharmaceuticals, a small drug development company with funding from friends and family. The founders established an initial product development and analytical laboratory with 4 other employees in a leased space in [[Libertyville, Illinois]]. |
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In late fall of 1983, the company moved to a 2,000-square-foot leased facility in [[Corona, California]] and began the development and manufacturing of generic pharmaceuticals. |
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In 1993, the company became a [[public company]] via an [[initial public offering]]. |
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In 2011, the company moved its corporate headquarters from [[Corona, California]] to [[Parsippany-Troy Hills, New Jersey]].<ref>{{cite news | url=http://www.nj.com/business/index.ssf/2012/01/generic_drug_maker_watson_open.html | title=Generic drug maker Watson opening research operations in North Brunswick | first=Susan | last=Todd | work=[[NJ.com]] | date=January 30, 2012}}</ref> |
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On October 31, 2012, Watson acquired Actavis for {{Euro|4.25 billion|link=yes}} and took the Actavis name.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/watson-completes-actavis-acquisition-176682731.html | title=Watson Completes Actavis Acquisition | publisher=[[PR Newswire]] | date=October 31, 2012}}</ref> |
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On October 1, 2013, Actavis acquired [[Warner Chilcott]].<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/actavis-completes-warner-chilcott-acquisition-225944231.html | title=Actavis Completes Warner Chilcott Acquisition | publisher=[[PR Newswire]] | date=October 1, 2013}}</ref> |
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On March 17, 2015, Actavis acquired Allergan and took the Allergan name.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/actavis-completes-allergan-acquisition-300051633.html | title=Actavis Completes Allergan Acquisition | publisher=[[PR Newswire]] | date=March 17, 2015}}</ref> |
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==Corporate history== |
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===From Actavis to Allergan=== |
===From Actavis to Allergan=== |
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====2015: Completion of Allergan Inc takeover & initial deals==== |
====2015: Completion of Allergan Inc takeover & initial deals==== |
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On July 6, 2015, the company acquired Oculeve, for $125 million.<ref>{{cite news|url=http://www.fiercebiotech.com/story/allergan-bets-125m-new-approach-dry-eye-disease/2015-07-06|title=Allergan bets $125M on a new approach to dry eye disease|work=FierceBiotech|first=Damian|last=Garde|date=6 July 2015|accessdate=27 November 2015}}</ref> On July 7, 2015, the company announced it would acquire the late stage CGRP [[migraine]] portfolio of [[Merck & Co]], as well as two experimental drugs (MK-1602 and MK-8031) for $250 million.<ref>{{cite web|url=http://www.fiercebiotech.com/story/merck-sells-phiii-ready-cgrp-migraine-drug-allergan-250m/2015-07-07|title=UPDATED: Bowing out of crowded race, Merck sells a migraine drug to Allergan for $250M|work=FierceBiotech|date=7 July 2015 |first=John|last=Carroll|accessdate=27 November 2015}}</ref> In July, Allergan agreed to sell its small molecule [[generic drug]] business to [[Teva Pharmaceutical Industries]] for $40.5 billion in cash and stock.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/allergan-accelerates-transformation-to-branded-growth-pharma-leader-by-divesting-global-generics-business-to-teva-for-405-billion-300118860.html | title=Allergan Accelerates Transformation to Branded Growth Pharma Leader by Divesting Global Generics Business to Teva for $40.5 Billion | publisher=[[PR Newswire]] | date=July 27, 2015}}</ref><ref>{{cite news | url=https://www.bloomberg.com/news/articles/2015-07-27/teva-ceo-sees-more-deals-coming-after-40-5b-allergan-purchase | title=Teva CEO: $40.5 Billion Allergan Deal is Just the Beginning|first=Cynthia | last=Koons |date=27 July 2015|work=Bloomberg|accessdate=27 November 2015}}</ref><ref>{{cite news|url=https://www.bloomberg.com/news/articles/2015-07-27/teva-snaps-up-allergan-s-generics-arm-dumping-mylan|title=Teva Snaps Up Allergan’s Generics Arm, Dumping Mylan|first=Chitra|last=Somayaji|date=27 July 2015|work=Bloomberg|accessdate=27 November 2015}}</ref> In August 2015, the company acquired Naurex for $560 million with more tied to regulatory milestones.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/allergan-successfully-completes-naurex-acquisition-300135009.html | title=Allergan Successfully Completes Naurex Acquisition | publisher=[[PRNewswire]] | date=August 31, 2015}}</ref> In September the company announced it would acquire ophthalmic device start-up AqueSys for $300 million plus future sums tied to approval/sales milestones.<ref>{{cite web|url=http://www.fiercemedicaldevices.com/story/allergan-grab-aquesys-300m-add-minimally-invasive-glaucoma-microshunt/2015-09-04|title=Allergan to grab AqueSys for $300M+ to add minimally invasive glaucoma microshunt|work=FierceMedicalDevices|date=4 September 2015 |first=Stacy|last=Lawrence|accessdate=27 November 2015}}</ref> In November the company acquired aesthetic device company Northwood Medical Innovation.<ref>{{cite web|url=http://www.fiercemedicaldevices.com/story/allergan-beefs-aesthetics-implant-purchase-does-ma-suitor-pfizer-approve/2015-11-04|title=Allergan beefs up in aesthetics with implant purchase. Does M&A suitor Pfizer approve?|work=FierceMedicalDevices|date=5 November 2015 |first=Varun|last=Saxena|accessdate=27 November 2015}}</ref> On November 25, 2015, the company announced it would partner with Rugen Therapeutic to develop new therapies for [[autism spectrum disorder]], [[rabies]] and [[obsessive compulsive disorder]].<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/allergan-and-rugen-therapeutics-announce-collaboration-to-discover-and-develop-ground-breaking-medicines-to-treat-autism-spectrum-disorders-and-obsessive-compulsive-disorders-300184387.html |title=Allergan and Rugen Therapeutics Announce Collaboration to Discover and Develop Ground-Breaking Medicines to Treat Autism Spectrum Disorders and Obsessive-Compulsive Disorders | publisher=[[PR Newswire]] |date=November 25, 2015}}</ref> |
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====Abandoned Pfizer merger==== |
====Abandoned Pfizer merger==== |
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{{main article|Pfizer#Allergan}} |
{{main article|Pfizer#Allergan}} |
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On November 23, 2015, Allergan and [[Pfizer]] announced their intention to merge in a $160 billion transaction, the largest pharmaceutical deal ever and the third largest merger in history.<ref>{{cite web|url=http://www.bbc.co.uk/news/business-34900344|title=Pfizer seals $160bn Allergan deal to create drugs giant|work=BBC News|date=23 November 2015|accessdate=27 November 2015}}</ref> Pfizer discontinued the acquisition on 5 April 2016, after the Obama administration announced its plan to move ahead with a resolution banning this form of tax avoidance, known as a [[tax inversion]]. Pfizer paid Allergan a breakup fee of $150 million.<ref>{{cite news | last=Rockoff | first=Jonathan | title=Pfizer Walks Away From Allergan Deal | url=https://www.wsj.com/articles/pfizer-walks-away-from-allergan-deal-1459939739 | news=[[The Wall Street Journal]] | date=April 6, 2016}}</ref> |
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===Post Pfizer=== |
===Post Pfizer=== |
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====2016: Actavis Generics sale & smaller bolt-on deals==== |
====2016: Actavis Generics sale & smaller bolt-on deals==== |
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In April, the company announced it would |
In April, the company announced it would partner with Heptares Therapeutics in a deal valued up-to-$3.3 billion collaborating on the development of a subtype-selective muscarinic receptor agonists for Alzheimer's disease and other major neurological disorders.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/allergan-and-heptares-announce-global-rd-and-commercialization-partnership-for-novel-treatments-in-alzheimers-and-other-neurological-disorders-300247556.html | title=Allergan and Heptares Announce Global R&D and Commercialization Partnership for Novel Treatments in Alzheimer's and Other Neurological Disorders | publisher=[[PR Newswire]] | date=April 6, 2016}}</ref> Later in the same month the company announced it would acquire Topokine Therapeutics for $85 million (plus undisclosed milestone payments), gaining the phase IIb/III compound XAF5 - a potential first-in-class treatment for steatoblepharon or bags under the eyes.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/allergan-acquires-topokine-therapeutics-for-85m-upfront/81252646/|title=Allergan Acquires Topokine Therapeutics for $85M Upfront|work=GEN}}</ref> In August 2016, Teva after completing the $39 billion acquisition of Actavis Generics, announced another smaller deal with Allergan, agreeing to acquire Anda, its generic distribution business, for $500 million.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/after-completing-39b-acquisition-teva-does-another-generics-deal-with-allergan/81253042/|title=After Completing $39B Acquisition, Teva Does Another Generics Deal with Allergan - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN|publisher=}}</ref> In August the company acquired ForSight VISION5 for more than $95 million, expanding Allergans' offering in eye-care.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/allergan-to-acquire-forsight-vision5-for-95m/81253080/|title=Allergan to Acquire ForSight VISION5 for $95M+ - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN|publisher=}}</ref> In September, the company announced it would acquire RetroSense Therapeutics for more than $60 million, gaining the positive photosensitivity gene therapy treatment, RST-001. RST-001 is to be used in retinas in which rod and cone photoreceptors have degenerated over time, causing in increase in the sensitivity of light hitting the retina.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/allergan-buys-retrosense-therapeutics-for-60m/81253170/|title=Allergan Buys RetroSense Therapeutics for $60M+ - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN|publisher=}}</ref> Later in the same month the company announced it would acquire Vitae Pharmaceuticals for $21 per share - $639 million in total<ref>{{cite web|url=http://www.fiercepharma.com/pharma/allergan-buy-valeant-not-happening-ceo-saunders-says|title=Allergan buy Valeant? Not happening, CEO Saunders says - FiercePharma|publisher=}}</ref> - boosting the company's dermatology pipeline,<ref>{{cite web|url=http://www.nasdaq.com/article/allergan-to-acquire-vitae-pharma-in-639-mln-cash-deal-20160914-00395|title=Today's Stock Market News and Analysis from Nasdaq.com|publisher=}}</ref><ref>{{cite web|url=http://ir.vitaepharma.com/phoenix.zhtml?c=219654&p=irol-newsArticle&ID=2201774|title=Press Releases Vitae|publisher=}}</ref> Tobira Therapeutics for $1.695 billion and a day later Akarna Therapeutics for $50 million.<ref>{{Cite news|url=http://www.genengnews.com/gen-news-highlights/allergan-snaps-up-akarna-in-second-nash-related-purchase-this-week/81253226|title=Allergan Snaps Up Akarna in Second NASH-Related Purchase This Week|last=<!--Staff, no byline-->|first=|date=21 September 2016|work=[[Gen. Eng. Biotechnol. News|Genetic Engineering & Biotechnology News]]|department=GEN News Highlights|access-date=4 November 2016|via=}}</ref> The two latter acquisitions aimed at boosting Allergans liver disease portfolio.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/allergan-to-acquire-tobira-for-up-to-1-695b/81253217/|title=Allergan to Acquire Tobira for Up to $1.695B - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN|publisher=}}</ref> In October, the company announced it would acquire Motus Therapeutics, further expanding its presence in the gastrointestinal market, for $200 million.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/allergan-to-acquire-motus-therapeutics/81253370|title=Allergan to Acquire Motus Therapeutics - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN|publisher=}}</ref> In November 2016 the company acquired Chase Pharmaceuticals.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/allergan-acquires-chase-to-expand-its-cns-disease-pipeline-and-renew-commitment-to-alzheimers/81253462|title=Allergan Acquires Chase to Expand its CNS Disease Pipeline and Renew Commitment to Alzheimer’s - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN|publisher=}}</ref> On December 21, the company announced it would acquire [[LifeCell Corp.]], a specialist in regenerative medicine, for $2.9 billion.<ref>{{cite web|url=http://www.fiercepharma.com/pharma/acquisitive-allergan-shells-out-2-9b-for-regenerative-medicine-player-lifecell|title=Acquisitive Allergan gets top-line help, cost-savings potential with $2.9B LifeCell buy - FiercePharma|publisher=}}</ref> [[File:Allergan,_inc_logo.png|thumb|Old logo used from 1983 or 2006]] |
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====2017: Continuation of bolt-on deals==== |
====2017: Continuation of bolt-on deals==== |
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On February 13, the company continued its plan of acquiring smaller companies in "bolt-on" deals, announcing the acquisition of [[Zeltiq Aesthetics]] Inc. and its "best-in-class" fat-freezing system for $2.475 billion.<ref>{{cite web|url=http://www.fiercepharma.com/pharma/deal-spree-continues-as-allergan-picks-up-fat-freezing-zeltiq|title=Allergan continues M&A spree with $2.5B deal to beef up aesthetics unit - FiercePharma|website=www.fiercepharma.com}}</ref><ref>{{cite web|url=http://finance.yahoo.com/news/allergan-acquire-zeltiq-best-class-130000562.html|title=Allergan to Acquire ZELTIQ, Best-in-Class Company in Fast-Growing Body Contouring Segment, for $2.47 Billion|publisher=}}</ref><ref>{{Cite news|url=https://www.bostonglobe.com/business/2017/04/14/meet-one-most-important-medical-entrepreneurs-you-never-heard/dfZFRbcdtjLcqyxci9vKlM/story.html|title=Meet one of the most important medical entrepreneurs you’ve never heard of - The Boston Globe|work=BostonGlobe.com|access-date=2017-11-01}}</ref> In July 2017, the company announced it would acquire |
On February 13, the company continued its plan of acquiring smaller companies in "bolt-on" deals, announcing the acquisition of [[Zeltiq Aesthetics]] Inc. and its "best-in-class" fat-freezing system for $2.475 billion.<ref>{{cite web|url=http://www.fiercepharma.com/pharma/deal-spree-continues-as-allergan-picks-up-fat-freezing-zeltiq|title=Allergan continues M&A spree with $2.5B deal to beef up aesthetics unit - FiercePharma|website=www.fiercepharma.com}}</ref><ref>{{cite web|url=http://finance.yahoo.com/news/allergan-acquire-zeltiq-best-class-130000562.html|title=Allergan to Acquire ZELTIQ, Best-in-Class Company in Fast-Growing Body Contouring Segment, for $2.47 Billion|publisher=}}</ref><ref>{{Cite news|url=https://www.bostonglobe.com/business/2017/04/14/meet-one-most-important-medical-entrepreneurs-you-never-heard/dfZFRbcdtjLcqyxci9vKlM/story.html|title=Meet one of the most important medical entrepreneurs you’ve never heard of - The Boston Globe|work=BostonGlobe.com|access-date=2017-11-01}}</ref> In July 2017, the company announced it would acquire Keller Medical for an undisclosed sum.<ref>https://www.allergan.com/News/News/Thomson-Reuters/Allergan-to-Acquire-Keller-Medical-Inc-Adding-Kel</ref> |
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==Company evolution== |
==Company evolution== |
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|1=[[Durata Therapeutics ]]<br/><small>(Acq 2014)</small> |
|1=[[Durata Therapeutics ]]<br/><small>(Acq 2014)</small> |
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|2= |
|2=Silom Medical Company<br/><small>(Acq 2014)</small> |
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|3= {{clade |
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|label1=[[Forest Laboratories]]<br/><small>(Acq 2014)</small> |
|label1=[[Forest Laboratories]]<br/><small>(Acq 2014)</small> |
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|2= {{clade |
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|1=Anda<br /><small>(Sold 2016 to [[Teva Pharmaceuticals]])</small> |
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|1=Keller Medical, Inc<br /><small>(Acq 2017)</small> |
|1=Keller Medical, Inc<br /><small>(Acq 2017)</small> |
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== Ownership== |
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As of 2017 Allergan shares are mainly held by institutional investors ([[Vanguard group]], [[Wellington Management Group]], [[BlackRock]], [[State Street Corporation]], [[Fidelity Investments]] and others<ref>[http://www.nasdaq.com/symbol/agn/ownership-summary Allergan plc. Ownership Summary]</ref>) |
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==See also== |
==See also== |
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*{{official website}} |
*{{official website}} |
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{{Finance links |
{{Finance links |
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| name = Allergan plc |
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| yahoo = AGN |
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Revision as of 18:59, 1 March 2018
Company type | Public limited company |
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NYSE: AGN S&P 100 component S&P 500 component | |
Industry | Pharmaceutical industry |
Founded | May 16, 2013Actavis) & Warner Chilcott March 17, 2015 renamed to Allergan Plc upon the merger of Allergan, Inc and Actavis | upon the combination of Allergan Finance, LLC (
Headquarters | Dublin, Ireland |
Number of locations | 40 manufacturing facilities, 27 global R&D centers and marketing/sales facilities worldwide. |
Area served | ~100 countries |
Key people | Brenton L. Saunders (Chairman, President, & CEO) Maria Teresa Hilado (CFO) |
Products | Branded pharmaceuticals |
Revenue | $15.940 billion (2017) |
-$5.921 billion (2017) | |
-$4.403 billion (2017) | |
Total assets | $118.351 billion (2017) |
Total equity | $73.837 billion (2017) |
Owner | The Vanguard Group Wellington Management Company BlackRock State Street Corporation Fidelity Investments |
Number of employees | ~16,700 (2016) |
Website | www |
Footnotes / references [1][2]) |
Allergan plc is a multinational company in the pharmaceutical industry that produces branded drugs and performs pharmaceutical research and development. It was formed on February 18, 2015, when its predecessor, Actavis, acquired Allergan, Inc and assumed the Allergan name.
The company markets brand products in 6 medical categories: Aesthetics/Dermatology/Plastic Surgery; Neurosciences/CNS; Eye Care; Women’s Health and Urology; GI and Cystic Fibrosis; and Cardiovascular Disease and Infectious Disease. The company's products include Botox, Namenda (Memantine), Restasis (Ciclosporin), Linzess (Linaclotide), Bystolic (Nebivolol), Juvederm (Injectable filler), Latisse (Bimatoprost), Lo Loestrin Fe, Estrace (Estradiol), Teflaro, Dalvance (Dalbavancin, Ozurdex (Dexamethasone), Optive, Natrelle, Viibryd (Vilazodone), Liletta (Levonorgestrel), Saphris (Asenapine), Enablex (Darifenacin), Actonel (Risedronic acid), Androderm (Testosterone), and Gelnique (Oxybutynin).[1]
History
Predecessor companies
In the spring of 1983, colleagues Allen Chao and David Hsia formed Watson Pharmaceuticals, a small drug development company with funding from friends and family. The founders established an initial product development and analytical laboratory with 4 other employees in a leased space in Libertyville, Illinois.
In late fall of 1983, the company moved to a 2,000-square-foot leased facility in Corona, California and began the development and manufacturing of generic pharmaceuticals.
In 1993, the company became a public company via an initial public offering.
In 2011, the company moved its corporate headquarters from Corona, California to Parsippany-Troy Hills, New Jersey.[3]
On October 31, 2012, Watson acquired Actavis for €4.25 billion and took the Actavis name.[4]
On October 1, 2013, Actavis acquired Warner Chilcott.[5]
On March 17, 2015, Actavis acquired Allergan and took the Allergan name.[6]
From Actavis to Allergan
2015: Completion of Allergan Inc takeover & initial deals
On July 6, 2015, the company acquired Oculeve, for $125 million.[7] On July 7, 2015, the company announced it would acquire the late stage CGRP migraine portfolio of Merck & Co, as well as two experimental drugs (MK-1602 and MK-8031) for $250 million.[8] In July, Allergan agreed to sell its small molecule generic drug business to Teva Pharmaceutical Industries for $40.5 billion in cash and stock.[9][10][11] In August 2015, the company acquired Naurex for $560 million with more tied to regulatory milestones.[12] In September the company announced it would acquire ophthalmic device start-up AqueSys for $300 million plus future sums tied to approval/sales milestones.[13] In November the company acquired aesthetic device company Northwood Medical Innovation.[14] On November 25, 2015, the company announced it would partner with Rugen Therapeutic to develop new therapies for autism spectrum disorder, rabies and obsessive compulsive disorder.[15]
Abandoned Pfizer merger
On November 23, 2015, Allergan and Pfizer announced their intention to merge in a $160 billion transaction, the largest pharmaceutical deal ever and the third largest merger in history.[16] Pfizer discontinued the acquisition on 5 April 2016, after the Obama administration announced its plan to move ahead with a resolution banning this form of tax avoidance, known as a tax inversion. Pfizer paid Allergan a breakup fee of $150 million.[17]
Post Pfizer
2016: Actavis Generics sale & smaller bolt-on deals
In April, the company announced it would partner with Heptares Therapeutics in a deal valued up-to-$3.3 billion collaborating on the development of a subtype-selective muscarinic receptor agonists for Alzheimer's disease and other major neurological disorders.[18] Later in the same month the company announced it would acquire Topokine Therapeutics for $85 million (plus undisclosed milestone payments), gaining the phase IIb/III compound XAF5 - a potential first-in-class treatment for steatoblepharon or bags under the eyes.[19] In August 2016, Teva after completing the $39 billion acquisition of Actavis Generics, announced another smaller deal with Allergan, agreeing to acquire Anda, its generic distribution business, for $500 million.[20] In August the company acquired ForSight VISION5 for more than $95 million, expanding Allergans' offering in eye-care.[21] In September, the company announced it would acquire RetroSense Therapeutics for more than $60 million, gaining the positive photosensitivity gene therapy treatment, RST-001. RST-001 is to be used in retinas in which rod and cone photoreceptors have degenerated over time, causing in increase in the sensitivity of light hitting the retina.[22] Later in the same month the company announced it would acquire Vitae Pharmaceuticals for $21 per share - $639 million in total[23] - boosting the company's dermatology pipeline,[24][25] Tobira Therapeutics for $1.695 billion and a day later Akarna Therapeutics for $50 million.[26] The two latter acquisitions aimed at boosting Allergans liver disease portfolio.[27] In October, the company announced it would acquire Motus Therapeutics, further expanding its presence in the gastrointestinal market, for $200 million.[28] In November 2016 the company acquired Chase Pharmaceuticals.[29] On December 21, the company announced it would acquire LifeCell Corp., a specialist in regenerative medicine, for $2.9 billion.[30]
2017: Continuation of bolt-on deals
On February 13, the company continued its plan of acquiring smaller companies in "bolt-on" deals, announcing the acquisition of Zeltiq Aesthetics Inc. and its "best-in-class" fat-freezing system for $2.475 billion.[31][32][33] In July 2017, the company announced it would acquire Keller Medical for an undisclosed sum.[34]
Company evolution
Allergan, inc acquisition and Actavis, plc name change
In November 2014 Actavis, plc announced its intention to acquire Allergan, inc, the manufacturer of Botox[35] Completion of the deal would increase its market capitalization to $147 billion.[36][37] 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.[38]
Company structure
In 2016, the company restructured into four divisions: US Specialised Therapeutics (containing - eye care, medical aesthetics, dermatology and botox therapeutics) US General Medicine (containing - CNS, Cardiovascular, GI, Women's health, anti-infectives and urology) and International. The fourth division consisted solely of the Anda distribution company, which has since been sold.
Allergan, plc
(formerly known as Actavis until June 2015 when it adopted Allergans name.) |
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See also
References
- ^ a b "Allergan plc 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Allergan plc. Ownership Summary". NASDAQ.
- ^ Todd, Susan (January 30, 2012). "Generic drug maker Watson opening research operations in North Brunswick". NJ.com.
- ^ "Watson Completes Actavis Acquisition" (Press release). PR Newswire. October 31, 2012.
- ^ "Actavis Completes Warner Chilcott Acquisition" (Press release). PR Newswire. October 1, 2013.
- ^ "Actavis Completes Allergan Acquisition" (Press release). PR Newswire. March 17, 2015.
- ^ Garde, Damian (6 July 2015). "Allergan bets $125M on a new approach to dry eye disease". FierceBiotech. Retrieved 27 November 2015.
- ^ Carroll, John (7 July 2015). "UPDATED: Bowing out of crowded race, Merck sells a migraine drug to Allergan for $250M". FierceBiotech. Retrieved 27 November 2015.
- ^ "Allergan Accelerates Transformation to Branded Growth Pharma Leader by Divesting Global Generics Business to Teva for $40.5 Billion" (Press release). PR Newswire. July 27, 2015.
- ^ Koons, Cynthia (27 July 2015). "Teva CEO: $40.5 Billion Allergan Deal is Just the Beginning". Bloomberg. Retrieved 27 November 2015.
- ^ Somayaji, Chitra (27 July 2015). "Teva Snaps Up Allergan's Generics Arm, Dumping Mylan". Bloomberg. Retrieved 27 November 2015.
- ^ "Allergan Successfully Completes Naurex Acquisition" (Press release). PRNewswire. August 31, 2015.
- ^ Lawrence, Stacy (4 September 2015). "Allergan to grab AqueSys for $300M+ to add minimally invasive glaucoma microshunt". FierceMedicalDevices. Retrieved 27 November 2015.
- ^ Saxena, Varun (5 November 2015). "Allergan beefs up in aesthetics with implant purchase. Does M&A suitor Pfizer approve?". FierceMedicalDevices. Retrieved 27 November 2015.
- ^ "Allergan and Rugen Therapeutics Announce Collaboration to Discover and Develop Ground-Breaking Medicines to Treat Autism Spectrum Disorders and Obsessive-Compulsive Disorders" (Press release). PR Newswire. November 25, 2015.
- ^ "Pfizer seals $160bn Allergan deal to create drugs giant". BBC News. 23 November 2015. Retrieved 27 November 2015.
- ^ Rockoff, Jonathan (April 6, 2016). "Pfizer Walks Away From Allergan Deal".
{{cite news}}
: Unknown parameter|news=
ignored (|newspaper=
suggested) (help) - ^ "Allergan and Heptares Announce Global R&D and Commercialization Partnership for Novel Treatments in Alzheimer's and Other Neurological Disorders" (Press release). PR Newswire. April 6, 2016.
- ^ "Allergan Acquires Topokine Therapeutics for $85M Upfront". GEN.
- ^ "After Completing $39B Acquisition, Teva Does Another Generics Deal with Allergan - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
- ^ "Allergan to Acquire ForSight VISION5 for $95M+ - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
- ^ "Allergan Buys RetroSense Therapeutics for $60M+ - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
- ^ "Allergan buy Valeant? Not happening, CEO Saunders says - FiercePharma".
- ^ "Today's Stock Market News and Analysis from Nasdaq.com".
- ^ "Press Releases Vitae".
- ^ "Allergan Snaps Up Akarna in Second NASH-Related Purchase This Week". GEN News Highlights. Genetic Engineering & Biotechnology News. 21 September 2016. Retrieved 4 November 2016.
- ^ "Allergan to Acquire Tobira for Up to $1.695B - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
- ^ "Allergan to Acquire Motus Therapeutics - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
- ^ "Allergan Acquires Chase to Expand its CNS Disease Pipeline and Renew Commitment to Alzheimer's - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
- ^ "Acquisitive Allergan gets top-line help, cost-savings potential with $2.9B LifeCell buy - FiercePharma".
- ^ "Allergan continues M&A spree with $2.5B deal to beef up aesthetics unit - FiercePharma". www.fiercepharma.com.
- ^ "Allergan to Acquire ZELTIQ, Best-in-Class Company in Fast-Growing Body Contouring Segment, for $2.47 Billion".
- ^ "Meet one of the most important medical entrepreneurs you've never heard of - The Boston Globe". BostonGlobe.com. Retrieved 2017-11-01.
- ^ https://www.allergan.com/News/News/Thomson-Reuters/Allergan-to-Acquire-Keller-Medical-Inc-Adding-Kel
- ^ "Actavis to buy Botox-maker Allergan $66bn". BBC News. 17 November 2014. Retrieved 27 November 2015.
- ^ Chen, Caroline (17 November 2014). "Actavis Surges to Top Drugmaker Ranks With Acquisitions". Bloomberg. Retrieved 27 November 2015.
- ^ Willhite, James (17 November 2014). "The Morning Ledger: Actavis Could Again Evade Treasury's Grasp for Post-Inversion Tax Break". The Wall Street Journal.
{{cite news}}
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ignored (|url-access=
suggested) (help) - ^ "Actavis plc is now Allergan plc". Allergan. 15 June 2015. Retrieved 16 June 2015.
External links
- Official website
- Business data for Allergan plc: