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Allergan acquires neurotoxin specialist Bonti in $195m deal

The Dublin-headquartered multinational Allergan have agreed to acquire the clinical stage biotech Bonti in a deal worth more than $195 million. The deal will see Botox drugmaker Allergan acquire Bonti’s portfolio of neurotoxins.

In particular, following the completion of the acquisition Allergan will obtain the global rights to the experimental EB-001A and AB-001T programmes being developed for both therapeutic and aesthetic use.

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We're already into March and, trying to put a bad start to the year behind them on Alzheimer's research, the EMA has followed suit with the FDA by announcing changes to the way new drugs will be tested in clinical trials.

In one of the biggest stories that broke towards the end of the year, Allergan finally found out whether its patent deal with a Native American tribe was enough to convince the courts to back off its patents on Restasis.

Mylan looks to muscle in on Allergan’s Botox territory

Mylan announced, alongside its financials, that it had signed a global collaboration and licensing agreement with Revance Therapeutics to partner on a Botox biosimilar.

Allergan’s Botox is its major growth driver and biosimilar competition could hit the company hard – it announced fourth quarter revenues of $228.4 million in the cosmetic sector and $367.2 million in the therapeutic sector.

Allergan says its double chin correction therapy Belkyra gets positive opinion from Swedish regulators

Botox maker Allergan (NYSE: AGN) said it has received a positive opinion from the Swedish Medical Products Agency for its Belkyra (deoxycholic acid) a treatment for double chin.

The therapy is being evaluated through the decentralised procedure, with the Swedish MPA acting as the Reference Member State for 20 other countries in the European Union, as well as Iceland and Norway.

Actavis changes its name to Allergan

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Allergan says the new icon in a refreshed logo represents the company's energy

Actavis has now officially changed its name to Allergan following the Ireland-based company’s recent acquisition of the botox maker.

This newly-merged Allergan has now begun a global rebranding campaign that will transition its facilities and operations to the new company name. However, it points out that the firm’s US and Canadian generics business will continue to operate under the Actavis tag due to its familiarity with customers.

Actavis buys Allergan for $66 billion

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The stately dance between Actavis and Allergan has culminated in the former buying the Botox manufacturer in a $66 billion deal, creating a company with revenues of $23 billion.

The ‘financially compelling’ transaction, unanimously supported by board boards, is expected to close during the second quarter of 2015 and creates, Actavis says, “one of the world's top 10 pharmaceutical companies".

Allergan eyeing Actavis buyout

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Allergan is attempting to block a recent Valeant hostile takeover bid by seeking the rumoured alternative merger deal with Actavis, according to media reports.

The two companies apparently disagree on the value of the deal though, with Actavis offering $200 per share but Allergan wanting more than $210 per share – a total gap of around $3 billion. Talks are currently focussed on reducing this gap, according to Reuters.

Allergan slashes 1,500 jobs

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Allergan is to cut 1,500 jobs as part of a restructure which it believes will make pre-tax savings of around $475 million in 2015.

Wielding the axe on around 13% of its global headcount is necessary, Allergan believes, although it says “approximately 94% of all customer-facing personnel” will be unaffected.

R&D will be among the areas hit – although Allergan insists that all pharma research currently ‘in the clinic’ will continue, and any reductions in discovery programmes ‘will not impact approvals’ between now and 2019.

Valeant goes hostile over Allergan hunt

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Valeant Pharmaceuticals has turned hostile in its bid to acquire Botox maker Allergan by employing strong-arm tactics in an attempt to seal a deal.

Valeant is making a $54 billion cash-and-stock bid for California-based Allergan, but this has not been enough to sway the board which is still holding fast.

The bid is backed by Bill Ackman, the activist investor whose Pershing Square hedge fund owns just under 10% of Allergan. He will now attempt to replace most of the board and force a merger with Laval, Quebec-based Valeant.

Allergan rejects Valeant – again

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Allergan and Valeant Pharmaceuticals International are continuing their stately dance around one another – and in the latest move the board of Allergan has unanimously rejected Valeant’s revised offer of $54 billion.

The words it has used echo its previous rebuff of Valeant’s $45.7 billion bid – once again it says Valeant ‘substantially undervalues’ the Botox manufacturer.

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