Allergan Sold to Actavis for $66 Billion

/Allergan Sold to Actavis for $66 Billion

Allergan Sold to Actavis for $66 Billion

allerganAllergan, the maker of Botox, sold yesterday for a reported $66 billion. The move by Ireland’s Actavis Plc marked the end of a hostile pursuit of Allergan by William Ackman and Valeant Pharmaceuticals International Inc.

Allergan had resisted the takeover by Valeant on the grounds that it would hurt its shareholders, given the Canadian pharma company’s history of acquiring companies and then quickly cutting research & development investments. Not surprisingly, after the deal with Actavis went public Allergan’s stock rose 5.3%, closing at $209.20. Actavis’ stock rose as well, climbing 1.7% to $247.94.

It should be noted that Actavis’ takeover does not come without R&D cuts. However, the $400 million pales in comparison to the alleged $900 million in cuts that Valeant had proposed.

The goal is to integrate the operations of Allergan with Actavis, as well as keep growing the cutting-edge, yet experimental, eye treatments for sufferers of macular degeneration and glaucoma.

The move is not expected to affect the price of Botox in any way. Botox still remains the king of the wrinkle reduction, despite the rise in other promising cosmetic injectables.

By | 2016-12-23T12:42:21+00:00 November 19th, 2014|News|0 Comments

About the Author:

Tom joined Matt in 2010, helping co-found Turbo Medical Marketing. As COO, Tom oversees all production and works directly with both the executive team and the Account Managers. Tom has helped to formulate systems and processes for sales, business development, internal marketing, service offerings, client intake, and employee hiring and training. You can get a sense of Tom's marketing knowledge, as well as pick up some marketing tips and insights, by checking out the Turbo blog that he contributes to weekly. Tom has also spoken at several aesthetic conferences in the past about topics ranging plastic surgery technology to mobile marketing. Tom received his B.A. in Business Management Economics from the University of California at Santa Cruz. He is a former collegiate rugby player and he enjoys golfing, snowboarding, hiking, and playing with his dog Yogi in his spare time. He's also a mentor with the Big Brothers, Big Sisters program in Charleston. Tom lives with his wife Lindsay in Mt. Pleasant, SC.

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