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 |
 US$ 15.07 billion (2015)[1] |
|
US$ 1.090 billion (2014) | |
 -US$ 1.630 billion (2014) | |
| Total assets |
US$ 52.529 billion (2014) |
| Total equity |
US$ 28.3355 billion (2014) |
Number of employees | 30,000 (June 2015) |
| Website |
www |
On February 18, 2015, the company formerly known as Actavis, Plc announced its intention to change its name to Allergan, Plc. 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
2015
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 also give Pfizer the ability to re-domicile 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 will 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]
2016: Post Pfizer
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-100 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 acqusitions aimed at boosting Allergans liver disease portfolio.[28] In October, the company announced it would acquire Motus Therapeutics, further expanding it's presence in the gastrointestinal market, for $200 million.[29] In November 2016 the company acquired Chase Pharmaceuticals.[30]
Company evolution
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, Womens health, anti-infectives and urology) and International. The fourth division consisted solely of the Anda distribution company, which has since been sold.
Allergan, inc acquisition and Actavis, plc name change
In November 2014 Actavis, plc announced its intention to acquire Allergan, inc, the manufacturer of Botox[31] Completion of the deal would increase its market capitalization to $147 billion.[32][33] 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.[34]
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Key products
- Actonel (risedronic acid) for the treatment or prevention osteoporosis, and for Paget's disease of bone treatment
- Acuvail (ketorolac ophthalmic solution) for the treatment of pain and inflammation following cataract surgery
- Aczone (dapsone gel) for acne
- Alphagan P (brimonidine ophthalmic solution) for glaucoma
- Androderm CIII (testosterone transdermal system) for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone
- Asacol HD (mesalamine extended release) for moderately active ulcerative colitis
- Atelvia (risedronic acid delayed release) for the treatment of osteoporosis in postmenopausal women
- Avycaz (ceftazidime/avibactam) for complicated intra-abdominal infections (in combination with metronidazole)
- Botox (onabotulinumtoxinA) for various spasms and dystonias
- Botox Cosmetic/Vistabel (onabotulinumtoxinA), an anti-wrinkle cosmetic drug derived from Botox
- Bystolic (nebivolol) for hypertension
- Combigan (brimonidine/timolol) for glaucoma
- Crinone (progesterone gel) for progesterone supplementation or replacement as part of an assisted reproductive technology (ART) treatment for infertile women with progesterone deficiency
- Dalvance (dalbavancin) for acute bacterial skin and skin structure infections (ABSSSI)
- Delzicol (mesalamine extended release) for mildly-to-moderately active ulcerative colitis
- Doryx (doxycycline hyclate extended release), a tetracycline-class antimicrobial
- Enablex (darifenacin extended release) for overactive bladder
- Estrace (estradiol vaginal cream) for vulvar and vaginal atrophy due to menopause
- Fetzima (levomilnacipran extended release) for major depressive disorder
- Gelnique (oxybutynin gel) for overactive bladder
- Juvéderm injectable gel (cross-linked hyaluronic acid), a dermal filler
- Kybella (Deoxycholic Acid injection) for double chin
- Lastacaft (alcaftadine ophthalmic solution) for the prevention of itching associated with eye allergies
- Latisse (bimatoprost ophthalmic solution) for hypotrichosis of the eyelashes
- Liletta (levonorgestrel-releasing intrauterine system) for contraception
- Linzess (linaclotide) for irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation—co-marketed with Ironwood Pharmaceuticals
- Lo Loestrin Fe (norethisterone and ethinyl estradiol; ethinyl estradiol; ferrous fumarate) for contraception
- Lumigan (bimatoprost ophthalmic solution) for glaucoma
- Namenda (memantine) for moderate-to-severe dementia of the Alzheimer's type
- Namenda XR (memantine extended release) for moderate-to-severe Alzheimer's disease
- Namzaric (memantine extended release/donepezil) for moderate-to severe-Alzheimer's disease in patients who are currently taking and can continue to take certain doses of both Namenda or Namenda XR (see above) and donepezil
- Natrelle—breast implants (silicone and saline)
- Ozurdex (dexamethasone intravitreal implant) for branch retinal vein occlusion (BRVO) and central retinal vein occlusion (CRVO)
- Orbera system—an intragastric balloon, inserted endoscopically; designed to assist weight loss by partially filling the stomach and inducing satiety for overweight patients with a body mass index (BMI) of 27 or greater
- Rapaflo (silodosin) for benign prostatic hyperplasia
- Restasis (ciclosporin ophthalmic emulsion) for dry eye syndrome
- Saphris (asenapine sublingual tablets) for schizophrenia and bipolar I disorder
- Skinmedica for facial lines
- Tazorac (tazarotene) for acne and psoriasis.
- Teflaro (ceftaroline fosamil) for community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI)
- Viberzi (eluxadoline) for diarrhea-predominant irritable bowel syndrome (IBS-D)
- Viibryd (vilazodone) for major depressive disorder
- Zenpep (pancrelipase) for the treatment of exocrine pancreatic insufficiency due to cystic fibrosis, or other conditions.
See also
References
- ↑ TheStreet Transcripts. "Actavis (ACT) Earnings Report: Q1 2015 Conference Call Transcript". The Street. Retrieved 27 November 2015.
- ↑ Calia, Michael (18 February 2015). "Actavis Adopting Allergan Name; Earnings Soar as Closing of Deal Looms". The Wall Street Journal. Retrieved 19 February 2015.
- ↑ Haggerty, Neil (15 June 2015). "Actavis Changes Name to Allergan After Deal For Botox Maker". The Wall Street Journal. Retrieved 15 June 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". Allergan. 27 July 2015. Retrieved 27 November 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.
- ↑ O'Donnell, Carl (3 December 2015). "Teva divesting $1 billion in assets to clear Allergan deal". Reuters. Retrieved 4 December 2015 – via Yahoo! Finance.
- ↑ Carroll, John (27 July 2015). "Allergan joins the hunt for a 'transformational' biotech deal". FierceBiotech. Retrieved 27 November 2015.
- ↑ Carroll, John (26 July 2015). "UPDATED: Allergan bags NMDA depression drugs in $560M-plus Naurex buyout". FierceBiotech. Retrieved 27 November 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 Partners with Rugen to Develop ASD, OCD Therapies". GEN. 25 November 2015. Retrieved 27 November 2015.
- ↑ Rockoff, Jonathan D.; Mattioli, Dana; Cimilluca, Dana (29 October 2015). "Pfizer and Allergan Begin Merger Talks". The Wall Street Journal. Retrieved 27 November 2015.
- ↑ Hammond, Ed; Baigorri, Manuel; Koons, Cynthia (29 October 2015). "Pfizer, Allergan Said to Discuss Record Pharmaceutical Deal". Bloomberg. Retrieved 27 November 2015.
- ↑ "Pfizer seals $160bn Allergan deal to create drugs giant". BBC News. 23 November 2015. Retrieved 27 November 2015.
- ↑ Rockoff, Jonathan. "Pfizer Walks Away From Allergan Deal". The Wall Street Journal.
- ↑ "Allergan Joins Heptares in $3.3B+ Neurological Drug Alliance". GEN.
- ↑ "Allergan Acquires Topokine Therapeutics for $85M Upfront". GEN.
- ↑ http://www.genengnews.com/gen-news-highlights/after-completing-39b-acquisition-teva-does-another-generics-deal-with-allergan/81253042/
- ↑ http://www.genengnews.com/gen-news-highlights/allergan-to-acquire-forsight-vision5-for-95m/81253080/
- ↑ http://www.genengnews.com/gen-news-highlights/allergan-buys-retrosense-therapeutics-for-60m/81253170/
- ↑ http://www.fiercepharma.com/pharma/allergan-buy-valeant-not-happening-ceo-saunders-says
- ↑ http://www.nasdaq.com/article/allergan-to-acquire-vitae-pharma-in-639-mln-cash-deal-20160914-00395
- ↑ http://ir.vitaepharma.com/phoenix.zhtml?c=219654&p=irol-newsArticle&ID=2201774
- ↑ "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.
- ↑ http://www.genengnews.com/gen-news-highlights/allergan-to-acquire-tobira-for-up-to-1-695b/81253217/
- ↑ http://www.genengnews.com/gen-news-highlights/allergan-to-acquire-motus-therapeutics/81253370
- ↑ http://www.genengnews.com/gen-news-highlights/allergan-acquires-chase-to-expand-its-cns-disease-pipeline-and-renew-commitment-to-alzheimers/81253462
- ↑ "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. (subscription required (help)).
- ↑ "Actavis plc is now Allergan plc". Allergan. 15 June 2015. Retrieved 16 June 2015.
External links
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- Business data for Allergan: Google Finance
- Yahoo! Finance
- Reuters
- SEC filings