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.
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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. 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. 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), a transaction to be completed in Q1 2016. A day later, the company announced it would acquire Naurex Inc for $560 million with more tied to regulatory milestones. In September the company announced it would acquire ophthalmic device start-up AqueSys for $300 million plus future sums tied to approval/sales milestones. In November the company acquired aesthetic device company Northwood Medical Innovation. 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.
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. 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. 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.
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. 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. 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. In August the company acquired ForSight VISION5 for more than $95 million, expanding Allergans' offering in eye-care. 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. Later in the same month the company announced it would acquire Vitae Pharmaceuticals, Inc. for $21 per share - $639 million in total - boosting the company's dermatology pipeline, Tobira Therapeutics for $1.695 billion and a day later Akarna Therapeutics for $50 million. The two latter acquisitions aimed at boosting Allergans liver disease portfolio. In October, the company announced it would acquire Motus Therapeutics, further expanding its presence in the gastrointestinal market, for $200 million. In November 2016 the company acquired Chase Pharmaceuticals. On December 21, the company announced it would acquire LifeCell Corp., a specialist in regenerative medicine, for $2.9 billion.
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. In July 2017, the company announced it would acquire Keller Medical, Inc for an undisclosed sum.
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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 Completion of the deal would increase its market capitalization to $147 billion. 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.
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.
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)
Key products
Source of the article : Wikipedia
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