Allergan plc (AGN) Key Developments |
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Allergan plc (AGN)

AGN on New York Consolidated

24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Allergan plc acquires Topical Dermatology Company Topokine Therapeutics
Thursday, 21 Apr 2016 04:30pm EDT 

Allergan plc:Says acquired Topokine Therapeutics.Sats under terms of the agreement, Allergan acquired Topokine Therapeutics for an upfront payment of $85 million and success-based development and sales milestones for XAF5.  Full Article

Allergan plc - New U.S. inversion rules threaten Pfizer-Allergan deal - Reuters News
Monday, 4 Apr 2016 11:06pm EDT 

Allergan plc:The U.S. Treasury Department took new steps on Monday to curb tax-avoiding corporate "inversions," with the pending $160 billion merger of Pfizer Inc and Allergan Plc seen as a potential casualty - RTRS.The changes, less than a year before President Barack Obama ends his term, follow sharp political criticism of Pfizer's and Allergan's merger, which would be the largest inversion deal ever.While the rules did not single out this deal, one of the provisions takes aim directly at it. Shares of Dublin-based Allergan fell 22% in after-market trading, while shares of New York-based Pfizer rose 3%.The companies said they were reviewing the Treasury Department's notice."Prior to completing any review, we won't speculate on any potential impact,” the companies said in a joint statement.The federal government has grappled with a wave of inversions in recent years as U.S. companies have sought to slash their tax bills by redomiciling overseas, though their core operations and management usually remain in the United States even as they claim a new tax home.Under the agreement between Pfizer and Allergan, either party may terminate the deal if an adverse change in U.S. law would cause the combined company to be treated as a U.S. domestic corporation for federal income tax purposes.The terminating party would have to pay the other company up to $400 million for its expenses, according to the merger agreement.  Full Article

Allergan plc says FDA approval of ACZONE (dapsone) Gel
Thursday, 25 Feb 2016 04:18pm EST 

Allergan plc:Announces FDA approval of aczone® (dapsone) gel, 7.5% for treatment of acne vulgaris.  Full Article

Allergan plc saya FDA accepts and grants priority review for Avycaz supplemental new drug application
Wednesday, 24 Feb 2016 07:31am EST 

Allergan plc:Saya FDA accepts and grants priority review for Avycaz supplemental new drug application.Expects agency to take action on filing in second quarter of 2016.Application seeks to expand avycaz label to include phase 3 clinical data for treatment of complicated intra-abdominal infections.  Full Article

Allergan plc - Teva Pharmaceutical Industries Ltd offers EU concessions over Allergan generics deal - EU - Reuters
Thursday, 18 Feb 2016 10:53pm EST 

Allergan plc:Teva Pharmaceutical Industries Ltd TEVA.TA has offered concessions to allay antitrust concerns over its $40.5 billion bid for Allergan's AGN.N generics unit, European Union regulators said on Friday. - RTRS."Commitments have been submitted and the new legal deadline is set on 10 March," European Commission spokesman Ricardo Cardoso said in an email, without providing details.Acquiring the Actavis generic business would strengthen Teva's position as the world's largest generics drugmaker.  Full Article

Allergan plc says has acquired Anterios Inc
Thursday, 7 Jan 2016 08:00am EST 

Allergan plc:Has acquired Anterios Inc.Under terms of agreement, Allergan acquired Anterios for an upfront payment of $90 million and potential development and commercialization milestone payments related to NDS.Says new entity also retains certain non-exclusive rights to Ant-1207.  Full Article

Allergan and Rugen Therapeutics Announce Collaboration to Discover and Develop Ground-Breaking Medicines to Treat Autism Spectrum Disorders and Obsessive-Compulsive Disorders
Wednesday, 25 Nov 2015 08:00am EST 

Allergan plc and Rugen Therapeutics, a start-up biotechnology company:Says they have entered into an exclusive collaboration to support discovery and development of novel therapies for Autism Spectrum Disorders (ASD) and Obsessive Compulsive disorders (OCD).Importantly, Allergan sought out this collaboration due to its passion and willingness to invest in people with ASD and their families and to identify ground-breaking therapeutic modalities to help them.collaboration is another example of Allergan's commitment to its Open Science model - developing promising products that frequently originate with smaller, innovative companies throughout the biopharma innovation ecosystem.Under the terms of the agreement, Rugen received an upfront initiation fee at the outset of the collaboration, and is entitled to development stage initiation and success-based milestone payments for advancing compounds in development.Allergan will have the exclusive option to acquire all rights, including the worldwide intellectual property rights and other assets, related to the compounds following clinical proof of concept studies.As part of the collaboration, Allergan and Rugen will jointly focus on the development of novel small molecule drug candidates.research collaboration initially includes early stage compounds, which are first-in-class orally active molecules being developed for multiple CNS disorders.  Full Article

Pfizer and Allergan to Combine
Monday, 23 Nov 2015 07:03am EST 

Pfizer:Transaction currently valued at $363.63 per Allergan share, for a total enterprise value of about $160 billion.Says Allergan shareholders will receive 11.3 shares of combined company for each of their Allergan shares.Says Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares.Expect that shares of combined co will be listed on New York stock exchange and trade under "PFE" ticker.Pfizer plc's board is expected to have 15 directors, consisting of all of pfizer's 11 current directors and 4 current directors of Allergan.Under terms of proposed transaction, businesses of Pfizer and Allergan will be combined under Allergan plc.Upon closing of transaction, combined co is expected to maintain allergan's Irish legal domicile.Boards of directors have unanimously approved definitive merger agreement under which Pfizer will combine with Allergan.Pursuant to terms of merger agreement, Allergan parent co will be parent co of combined group.Directors from Allergan on board will include Paul Bisaro, allergan's current executive chairman and Brent Saunders, allergan's current CEO.Says ian read, pfizer's chairman and CEO, will serve as chairman and CEO of combined co.Says Brent Saunders will serve as president and chief operating officer of combined co.Following deal, assuming that all $12 billion of cash is paid in merger, expected that former Pfizer stockholders to hold about 56% of combined co.  Full Article

Allergan plc - U.S. Treasury clamps down on corporate tax inversion deals - Reuters
Thursday, 19 Nov 2015 05:09pm EST 

Allergan plc:The U.S. Treasury Department on Thursday clamped down on tax-avoiding "inversion" deals that U.S. companies do with foreign corporations. It was not immediately clear if the new rules would affect Pfizer Inc's bid for rival Allergan Plc - RTRS.Effective immediately, Treasury said it is making inversions harder to do by limiting a U.S. acquirer's ability to set up a new foreign parent in a third country and to "stuff" assets into a foreign parent to meet post-inversion ownership limits - RTRS."While we intend to take additional action in the coming months, there is only so much the Treasury Department can do to prevent these tax-avoidance transactions - RTRS.Only legislation can decisively stop inversions," Treasury Secretary Jack Lew said in a statement outlining the new rules - RTRS.Reasury said it was taking several other steps, some effective immediately and some retroactive to Sept. 22, 2014, when the department last clamped down on the transactions - RTRS.  Full Article

Allergan plc says Positive Phase I/II Interim Data of Bimatoprost Sustained-Release Implant for IOP Therapy in Glaucoma
Monday, 16 Nov 2015 08:00am EST 

Allergan plc :positive phase I/II interim data of Bimatoprost sustained-release implant for IOP therapy in glaucoma.No serious ocular adverse events in study eye;majority of common adverse events related to injection procedure,graded as mild by investigator.Says phase I/II interim data show implant was tolerated and is comparable to daily topical bimatoprost in efficacy.  Full Article


Impax buys generic drugs from Teva, Allergan for $586 million

Impax Laboratories Inc said it would buy a portfolio of generic drugs from Teva Pharmaceutical Industries Ltd and Allergan Plc for about $586 million.