Allergan

Allergan, Plc
Public
Traded as NYSE: AGN
S&P 100 Component
S&P 500 Component
Industry Branded and generic pharmaceuticals, and pharmaceutical research and development.
Founded Est 2015 through the acquisition of Allergan, Inc by Actavis, Plc
Founder Allen Chao, Ph.D. and David Hsia, Ph.D.
Headquarters Dublin, Ireland and Parsippany-Troy Hills, New Jersey, United States.
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 and CEO
Products Branded and generic pharmaceuticals
Revenue Increase US$ 15.07 billion (2015)[1]
Increase US$ 1.090 billion (2014)
Decrease -US$ 1.630 billion (2014)
Total assets Increase US$ 52.529 billion (2014)
Total equity Increase US$ 28.3355 billion (2014)
Number of employees
 30,000 (June 2015)
Website www.allergan.com

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, 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.[2][3]

Corporate history

From Actavis to Allergan

2015: Completion of Allergan Inc takeover & initial deals

After the acquisition of Allergan, Inc by Actavis, Plc, the new company made its first acquisition on July 6, when the company acquired start-up, Oculeve, for $125 million.[4] On July 7 the company announced it would acquire Merck & Cos late stage CGRP migraine portfolio, as well as two experimental drugs (MK-1602 and MK-8031) for $250 million.[5] In July, Allergan agreed to sell off its small molecule generic drug business, Actavis, to Teva Pharmaceutical Industries for $40.5 billion ($33.75 billion in cash and $6.75 billion worth of shares),[6][7][8] a transaction to be completed in Q1 2016.[9] A day later, the company announced it would acquire Naurex Inc for $560 million with more tied to regulatory milestones.[10][11] In September the company announced it would acquire ophthalmic device start-up AqueSys for $300 million plus future sums tied to approval/sales milestones.[12] In November the company acquired aesthetic device company Northwood Medical Innovation.[13] Two days after announcing the record breaking deal with Pfizer, the company announced it would partner with Rugen Therapeutic to develop new therapies for autism spectrum disorder, rabies and obsessive compulsive disorder.[14]

Abandoned Pfizer merger

In late October 2015, The Wall Street Journal reported that merger talks between Allergan and Pfizer were in early phases, with Pfizer approaching Allergan due to an industry-wide drop in share prices. Any merger with Allergan would then have also given Pfizer the ability to re-locate to Ireland, taking advantage of its lower tax rates.[15][16] On 23 November 2015, the two companies announced their intention to merge for an approximate sum of $160 billion making this the largest pharmaceutical deal ever and the third largest merger in history. As part of the deal, Pfizer CEO Ian Read would have remained CEO and Chairman of the combined company (to be called Pfizer Plc), with Allergan CEO, Brent Saunders, becoming President and Chief Operating Officer. As part of the deal Allergan shareholders were to receive 11.3 shares of the company, with Pfizer shareholders receiving one.[17] 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 will pay Allergan a breakup fee of $150 million.[18]

Post Pfizer

2016: Actavis Generics sale & smaller bolt-on deals

In April, the company announced it would join 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.[19] 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.[20] In August 2016, Teva after completing the $39 billion acquisition of Actavis Generics, announced another smaller deal with Allergan, agreeing to acquire its generic distribution business Anda for $500 million.[21] In August the company acquired ForSight VISION5 for more than $95 million, expanding Allergans' offering in eye-care.[22] 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.[23] Later in the same month the company announced it would acquire Vitae Pharmaceuticals, Inc. for $21 per share - $639 million in total[24] - boosting the company's dermatology pipeline,[25][26] Tobira Therapeutics for $1.695 billion and a day later Akarna Therapeutics for $50 million.[27] The two latter acquisitions aimed at boosting Allergans liver disease portfolio.[28] In October, the company announced it would acquire Motus Therapeutics, further expanding its presence in the gastrointestinal market, for $200 million.[29] In November 2016 the company acquired Chase Pharmaceuticals.[30] On December 21, the company announced it would acquire LifeCell Corp., a specialist in regenerative medicine, for $2.9 billion.[31]

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.[32][33] In July 2017, the company announced it would acquire Keller Medical, Inc 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.)


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actavis plc


Auden Mckenzie Holdings Limited
(Acq 2015)


Durata Therapeutics
(Acq 2014)

Silom Medical Company
(Acq 2014)

Forest Laboratories
(Acq 2014)


Aptalis Pharma


Axcan Pharma

Eurand Pharmaceuticals

Furiex Pharmaceuticals Inc
(Acq 2014)

 

Galen
(Acq 2013)

Uteron Pharma, S.A.
(Acq 2013)

Warner Chilcott Plc
(Acq 2000)

Procter & Gamble
(Prescription drug div, Acq 2009)

 

Watson Pharmaceuticals


Andrx Corporation
(Acq 2006)


 

Arrow Group
(Acq 2009)


 

Eden Biodesign


 

Specifar Pharmaceuticals S.A.
(Acq 2011)


 

Ascent Pharmahealth Ltd
(Acq 2012)


 

Actavis Group
(Acq 2012)








Allergan, inc


Kythera Biopharmaceuticals
(Acq 2015)


MAP Pharmaceuticals Inc
(Acq 2013)


Inamed Corporation
(Acq 2006)


Allergan
(Advanced Medical Optics spun off in 2006)

Janssen-Ortho
Spun off in 2006

Abbott Laboratories
Acq 2007


Actavis Generics
(Sold 2015 to Teva Pharmaceuticals)


Oculeve, Inc
(Acq 2015)


Naurex Inc
(Acq 2015)


AqueSys
(Acq 2015)


Northwood Medical Innovation Ltd
(Acq 2015)


Topokine Therapeutics
(Acq 2016)


Anda
(Sold 2016 to Teva Pharmaceuticals)


ForSight VISION5
(Acq 2016)


RetroSense Therapeutics
(Acq 2016)


Vitae Pharmaceuticals, Inc
(Acq 2016)


Tobira Therapeutics
(Acq 2016)


Akarna Therapeutics
(Acq 2016)


Motus Therapeutics
(Acq 2016)


Chase Pharmaceuticals
(Acq 2016)


LifeCell
(Acq 2016)


Zeltiq Aesthetics Inc.
(Acq 2017)


Keller Medical, Inc
(Acq 2017)




Ownership

As of 2017 Allergan shares are mainly held by institutional investors (Vanguard group, Wellington Management Group, BlackRock, State Street Corporation, Fidelity Investments and others[39])

Key products

See also

References

  1. ↑ TheStreet Transcripts. "Actavis (ACT) Earnings Report: Q1 2015 Conference Call Transcript". The Street. Retrieved 27 November 2015.
  2. ↑ Calia, Michael (18 February 2015). "Actavis Adopting Allergan Name; Earnings Soar as Closing of Deal Looms". The Wall Street Journal. Retrieved 19 February 2015.
  3. ↑ Haggerty, Neil (15 June 2015). "Actavis Changes Name to Allergan After Deal For Botox Maker". The Wall Street Journal. Retrieved 15 June 2015.
  4. ↑ Garde, Damian (6 July 2015). "Allergan bets $125M on a new approach to dry eye disease". FierceBiotech. Retrieved 27 November 2015.
  5. ↑ 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.
  6. ↑ "Allergan Accelerates Transformation to Branded Growth Pharma Leader by Divesting Global Generics Business to Teva for $40.5 Billion". Allergan. 27 July 2015. Retrieved 27 November 2015.
  7. ↑ Koons, Cynthia (27 July 2015). "Teva CEO: $40.5 Billion Allergan Deal is Just the Beginning". Bloomberg. Retrieved 27 November 2015.
  8. ↑ Somayaji, Chitra (27 July 2015). "Teva Snaps Up Allergan’s Generics Arm, Dumping Mylan". Bloomberg. Retrieved 27 November 2015.
  9. ↑ O'Donnell, Carl (3 December 2015). "Teva divesting $1 billion in assets to clear Allergan deal". Reuters. Retrieved 4 December 2015 – via Yahoo! Finance.
  10. ↑ Carroll, John (27 July 2015). "Allergan joins the hunt for a 'transformational' biotech deal". FierceBiotech. Retrieved 27 November 2015.
  11. ↑ Carroll, John (26 July 2015). "UPDATED: Allergan bags NMDA depression drugs in $560M-plus Naurex buyout". FierceBiotech. Retrieved 27 November 2015.
  12. ↑ Lawrence, Stacy (4 September 2015). "Allergan to grab AqueSys for $300M+ to add minimally invasive glaucoma microshunt". FierceMedicalDevices. Retrieved 27 November 2015.
  13. ↑ Saxena, Varun (5 November 2015). "Allergan beefs up in aesthetics with implant purchase. Does M&A suitor Pfizer approve?". FierceMedicalDevices. Retrieved 27 November 2015.
  14. ↑ "Allergan Partners with Rugen to Develop ASD, OCD Therapies". GEN. 25 November 2015. Retrieved 27 November 2015.
  15. ↑ Rockoff, Jonathan D.; Mattioli, Dana; Cimilluca, Dana (29 October 2015). "Pfizer and Allergan Begin Merger Talks". The Wall Street Journal. Retrieved 27 November 2015.
  16. ↑ Hammond, Ed; Baigorri, Manuel; Koons, Cynthia (29 October 2015). "Pfizer, Allergan Said to Discuss Record Pharmaceutical Deal". Bloomberg. Retrieved 27 November 2015.
  17. ↑ "Pfizer seals $160bn Allergan deal to create drugs giant". BBC News. 23 November 2015. Retrieved 27 November 2015.
  18. ↑ Rockoff, Jonathan. "Pfizer Walks Away From Allergan Deal". The Wall Street Journal.
  19. ↑ "Allergan Joins Heptares in $3.3B+ Neurological Drug Alliance". GEN.
  20. ↑ "Allergan Acquires Topokine Therapeutics for $85M Upfront". GEN.
  21. ↑ "After Completing $39B Acquisition, Teva Does Another Generics Deal with Allergan - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
  22. ↑ "Allergan to Acquire ForSight VISION5 for $95M+ - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
  23. ↑ "Allergan Buys RetroSense Therapeutics for $60M+ - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
  24. ↑ "Allergan buy Valeant? Not happening, CEO Saunders says - FiercePharma".
  25. ↑ "Today's Stock Market News and Analysis from Nasdaq.com".
  26. ↑ "Press Releases Vitae".
  27. ↑ "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.
  28. ↑ "Allergan to Acquire Tobira for Up to $1.695B - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
  29. ↑ "Allergan to Acquire Motus Therapeutics - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
  30. ↑ "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".
  31. ↑ "Acquisitive Allergan gets top-line help, cost-savings potential with $2.9B LifeCell buy - FiercePharma".
  32. ↑ "Allergan continues M&A spree with $2.5B deal to beef up aesthetics unit - FiercePharma". www.fiercepharma.com.
  33. ↑ "Allergan to Acquire ZELTIQ, Best-in-Class Company in Fast-Growing Body Contouring Segment, for $2.47 Billion".
  34. ↑ https://www.allergan.com/News/News/Thomson-Reuters/Allergan-to-Acquire-Keller-Medical-Inc-Adding-Kel
  35. ↑ "Actavis to buy Botox-maker Allergan $66bn". BBC News. 17 November 2014. Retrieved 27 November 2015.
  36. ↑ Chen, Caroline (17 November 2014). "Actavis Surges to Top Drugmaker Ranks With Acquisitions". Bloomberg. Retrieved 27 November 2015.
  37. ↑ Willhite, James (17 November 2014). "The Morning Ledger: Actavis Could Again Evade Treasury’s Grasp for Post-Inversion Tax Break". The Wall Street Journal. (Subscription required (help)).
  38. ↑ "Actavis plc is now Allergan plc". Allergan. 15 June 2015. Retrieved 16 June 2015.
  39. ↑ Allergan plc. Ownership Summary
  40. ↑ "Eye Care".
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