May 16, 2013; 12 years ago (2013-05-16), upon the combination of Allergan Finance, LLC (Actavis) &Warner Chilcott March 17, 2015; 10 years ago (2015-03-17) renamed to Allergan Plc upon the merger ofAllergan, Inc andActavis
Headquarters
Clonshaugh Business & Technology Park, Coolock, D17 E400,
Allergan plc is an American, Irish-domiciledpharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology.[1][2][3] The company is the maker ofBotox.[1]
In June 2019, U.S. pharmaceutical companyAbbVie announced it had reached an agreement to acquire Allergan for $63 billion. The merged company would be domiciled in the U.S. for tax purposes.[7][8]
Allergan's global headquarters are located in Dublin, Ireland. The company also maintains a significant presence in the United States, with administrative and operational headquarters located in various locations across the country, including Irvine, California and Madison, New Jersey.[9]
Allergan plc was created from the 2015 merger and Irishcorporate tax inversion of two companies, Irish-basedActavis plc and U.S.-based Allergan, Inc.[10]
In 1980, it was acquired bySmithKline Corporation for $259 million[12] and was later spun-off by SmithKline Beecham in 1989.[13] In 1989, Allergan opened a manufacturing plant inWaco, Texas, to manufacture eye care products.[14]
In 1991, Allergan acquired the company Oculinum which manufactured products for eye muscle disorders.[15][16] Following the acquisition, the product was renamed Botox.[15][17] In 1996, Allergan received FDA approval forAlphagan ophthalmic solution for open-angle glaucoma and ocular hypertension.[18] In 1998, Allergan established The Allergan Foundation, a private US-based charitable foundation.[19]
In 2005, Allergan acquired Inamed which had a licensing agreement with Corneal Group Laboratoires for Juvederm products.[20][21][22] In 2006, Allergan gained rights to Juvederm products.[23][24]
In 2015, Irish-based Actavis plc acquired U.S.-basedAllergan, Inc., for $70 billion, and in effect redomiciled Allergan to Ireland in a corporate tax inversion.[4][33] Actavis CEO Brent Saunders became the CEO of the combined company.[34] In June 2015, the company took the Allergan name.[35]
As of 2020, the company operated four facilities in Ireland.[36][11]
On July 7, 2015, the company acquired the rights to the late stageCGRPmigraine portfolio ofMerck & Co, as well as two experimental drugs for an upfront payment of $250 million.[37] Later that summer, the company acquired Oculeve for $125 million[38] and Naurex for an upfront payment of $560 million.[39] In October 2015, the company acquired AqueSys, developer of ocular implants for an initial payment of $300 million,[40] along with Kythera Biopharmaceuticals, a company focused on the medical aesthetics market, for $2.1 billion.[41][42]
In late 2015, the company announced the acquisition of Northwood Medical Innovation, the developer ofearFold.[43] On November 25, 2015, the company announced it would partner with Rugen Therapeutic to develop new therapies forautism spectrum disorder andobsessive compulsive disorder.[44]
On November 23, 2015, Allergan andPfizer announced their intention to merge in a $160 billion transaction.[45] On April 5, 2016, after the Obama administration announced its plan to bantax inversions, Pfizer terminated the acquisition and paid Allergan a $150 millionbreakup fee.[46][47]
In April 2016, the company announced it would partner with Heptares Therapeutics to develop a subtype-selectivemuscarinic agonists forAlzheimer's disease[48][49] and announced the acquisition of Topokine Therapeutics, gaining the phase IIb/III compound XAF5 - a treatment fordermatochalasis.[50]
In September 2016, CEO Saunders announced what he called a social contract to limit prices on the company's medications.[54][55] That same month, the company acquired RetroSense Therapeutics for more than $60 million,[56] announced the acquisition of Tobira Therapeutics for approximately $1.7 billion[57] and, a day later, the acquisition of Akarna Therapeutics for $50 million.[58]
In October 2016, the company sold Anda, its generic drug distribution business, to Teva for $500 million[59][60] and acquired Vitae Pharmaceuticals, focused on dermatology treatments, for $639 million.[59][61][62] That same month, the company announced it would acquire Motus Therapeutics, a developer of treatments for gastrointestinal disorders, for $200 million.[63] On November 22, 2016, the company acquired Chase Pharmaceuticals for $125 million.[64][65]
In 2017, the company acquired LifeCell, a specialist in regenerative medicine, for $2.9 billion and Zeltique Aesthetics, maker of CoolSculpting, for $2.4 billion.[66][67][68][69] On June 7, the company announced the acquisition of Keller Medical, a company that manufactures devices for use duringbreast augmentation surgery.[70] On December 12, the company announced the acquisition ofRepros Therapeutics, a developer of drugs forreproductive system diseases.[71]
In September 2018, Allergan acquired the aesthetic company, Bonti, for $195 million.[72][73]
In March 2019, the company acquired Envy Medical, Inc.[74] As of 2019, Allergan's Botox product had annual sales of nearly $4 billion.[75]
In 2018, along with several other drug manufacturers and distributors, the company was sued by several municipalities and states in the U.S. due to the manufacture ofopioids, which have been abused in what has been referred to as theopioid epidemic.[76][77]
In June 2019, U.S. pharmaceutical companyAbbVie announced it had reached an agreement to acquire Allergan for $63 billion,[7] which would return Allergan to the U.S. for tax purposes.[8] On the announcement of the transaction, Abbvie disclosed that its 2019 net effective tax rate was 9%, but that post the acquisition, the Group's effective tax rate would rise to 13%. The merger was expected to close in 2020.[8]
On May 8, 2020, AbbVie completed its acquisition of Allergan.
Allergan acquires, develops, manufactures and markets branded products in four therapeutic areas: medical aesthetics, eye care, central nervous system, and gastroenterology. The company manufactures several pharmaceutical products including Botox (botulinum toxin), Juvederm (injectable filler), CoolSculpting (cryolipolysis), Alphagan (brimonidine), Vraylar (cariprazine HCI), Linzess (linaclotide),[1] and Ubrelvy (ubrogepant).[15][20][66][18][78]
^Rockoff, Jonathan D. (11 February 2018)."New Tax Law Haunts Inversion Deals".The Wall Street Journal.Similarly, Allergan, a drugmaker that moved its headquarters to Ireland after a 2013 acquisition but gets about 80% of revenue in the U.S., expects the loss of deductions on intercompany loans will largely be balanced out by lower taxes on its U.S. sales.
^ab"From Actavis to Allergan: One pharma company's wild dealmaking journey".Fortune. 30 July 2015.For a master class in mergers and acquisitions, one need only look at the company formerly known as Actavis. Now called Allergan, after its $70 billion acquisition of that maker of Botox last fall, the pharmaceutical firm has undertaken a dizzying series of deals in just the last few years, reinventing and renaming itself in a fashion that might make the artist formerly known as The Artist Formerly Known As Prince proud.
^"Actavis to acquire Warner Chilcott in $5bn pharmaceutical deal".Financial Times. 20 May 2013.Actavis sought to fend off takeover threats by purchasing Dublin-based rival Warner Chilcott in a $5bn deal designed to turn it into the world's third-largest generic drug company by sales. The agreed all-stock deal, worth $8.5bn including net debt, follows recent efforts by competitors including Valeant and Mylan to acquire Actavis. Analysts said the move could spark alternative bids for Actavis or Warner Chilcott at a time of rapid consolidation in the sector. [..] The transaction will also exploit tax savings through the creation of a new Irish holding company, cutting Actavis' estimated 28 percent tax rate this year to 17 per cent and helping create annual synergies that the company said would exceed $400m.
$16.089 billion (2019)
-$5.142 billion (2018)
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