
Allergan continues plans to ward off Valeant takeover
Allergan is working on plans of its own to give investors "most of what they want" instead of the $53 billion hostile bid from Valeant Pharmaceuticals International and top Allergan shareholder Pershing Square, according to the company.
Irvine, CA-Allergan is working on plans of its own to give investors "most of what they want" instead of the $53 billion hostile bid from Valeant Pharmaceuticals International and top Allergan shareholder Pershing Square, according to the company.
Whatever the plan may be, however, Allergan’s shareholders have said the company had better move quickly.
David Pyott, chief executive officer of Allergan
"Our stockholders have been fairly clear that if we have a deal that we can do, we should do it soon," he said.
Analysts have surmised that Allergan could make an acquisition of its own in order to thwart Valeant's plans.
According to
Additionally, Allergan plans to cut costs and end development of some pipeline compounds in an effort to boost profits and lift forecasts, Bloomberg reported.
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