allergan inc (AGN) Key Developments
Allergan Mulls Acquisitions
Aug 27 14
Allergan Inc. (NYSE:AGN), which has consistently rejected Valeant offer, is looking for acquisitions. The company has announced a series of cost cuts and said that it was looking for acquisitions as it seeks to persuade shareholders they are better off if it stands alone.
Valeant To Extend Its Bid For Allergan
Aug 27 14
Valeant Pharmaceuticals International, Inc. (TSE:VRX) decided to extend its cash and stock bid for Allergan Inc. (NYSE:AGN) to December 31, 2014.
Allergan Reportedly Approached Salix For Acquisitions
Aug 20 14
Allergan Inc. (NYSE:AGN) has reportedly approached Salix Pharmaceuticals Ltd. (NasdaqGS:SLXP) and at least one other company about a potential acquisition, as Allergan seeks to fend off a $53-billion hostile takeover from Valeant Pharmaceuticals International, Inc. (TSX:VRX). Allergan could strike a takeover deal with the company or another unknown party as early as next month, September 2014. Allergan has said it is eyeing acquisitions of its own.
Allergan, Inc. Announces Management Changes
Aug 18 14
Allergan Inc. announced that Jim Hindman has been named Executive Vice President, Finance and Business Development, Chief Financial Officer, effective immediately. Mr. Hindman succeeds Jeff Edwards, who after 21 years of service to the company, including nine years in the Chief Financial Officer role, has decided to step down from the position due to family commitments. Mr. Edwards will remain employed by the company in a non-executive officer capacity to facilitate a smooth transition. Mr. Hindman joined the company in 1984 and has served as Senior Vice President, Treasury, Risk and Investor Relations since 2002. Prior to that, he served in a variety of finance positions, including Senior Vice President, Finance and Controller, Assistant Corporate Controller and Vice President, Financial Planning and Analysis. Mr. Hindman also serves as President of The Allergan Foundation. Before joining the company, Mr. Hindman worked at Deloitte, Haskins and Sells.
Allergan Announces OZURDEX(R) Receives European Positive Opinion for the Treatment of Diabetic Macular Edema
Jul 25 14
Allergan Inc. announced that the European Union's Committee for Medicinal Products for Human Use (CHMP) has recommended extending the Marketing Authorization for OZURDEX(R) (dexamethasone 700 mcg intravitreal implant in applicator) to treat adult patients with vision loss due to diabetic macular edema (DME) who are pseudophakic (have an artificial lens implant), or who are considered insufficiently responsive to, or unsuitable for non-corticosteroid therapy. The CHMP is the scientific committee of the European Medicines Agency (EMA) that recommends medicines for Marketing Authorization across the 28 member states of the European Union. The final decision from the European Commission is expected within a few months. DME is a condition that affects approximately 7% of patients with diabetes and is one of the main causes of sight loss in patients with diabetes. The OZURDEX(R) implant uses the proprietary and innovative NOVADUR(R) solid polymer delivery system -- a biodegradable implant that releases medicine over an extended period of time -- to suppress inflammation, which plays a key role in the development of DME. OZURDEX(R) (dexamethasone 700 mcg intravitreal implant in applicator) is already available throughout the European Union as a treatment licensed for macular edema in patients with retinal vein occlusion (RVO) and for inflammation of the posterior segment of the eye characterized as non-infectious uveitis.