Allergan, Inc.
In 1948, pharmacist Gavin S. Herbert founded Allergan Pharmaceuticals, Inc.[10] In 1970, Allergan, Inc. became a public company via an initial public offering.[10] In 1977, Allergan announced plans to build a factory in Westport, Ireland.[11]
In 1980, it was acquired by SmithKline Corporation for $259 million[12] and was later spun-off by SmithKline Beecham in 1989.[13] In 1989, Allergan opened a manufacturing plant in Waco, 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 for Alphagan 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]
Actavis plc
In the spring of 1983, colleagues Allen Chao and David Hsia formed Watson Pharmaceuticals, a drug development in Libertyville, Illinois.[25] In late fall of 1983, the company moved to Corona, California, and began to develop and manufacture generic pharmaceuticals.[26] In February 1993, the company became a public company via an initial public offering.[26]
In 2011, the company moved its corporate headquarters from Corona, California, to Parsippany-Troy Hills, New Jersey.[27][28] On October 31, 2012, Watson acquired Actavis for €4.25 billion and took the Actavis name.[29]
Acquisition by Actavis plc (2015–2019)
In 2015, Irish-based Actavis plc acquired U.S.-based Allergan, 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]
2015
On July 7, 2015, the company acquired the rights to the late stage CGRP migraine portfolio of Merck & 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 of
Abandon merger with Pfizer
On November 23, 2015, Allergan and Pfizer announced their intention to merge in a $160 billion transaction.[45] On April 5, 2016, after the Obama administration announced its plan to ban tax inversions, Pfizer terminated the acquisition and paid Allergan a $150 million breakup fee.[46][47]
2016
In April 2016, the company announced it would partner with Heptares Therapeutics to develop a subtype-selective muscarinic agonists for Alzheimer's disease[48][49] and announced the acquisition of Topokine Therapeutics, gaining the phase IIb/III compound XAF5 - a treatment for dermatochalasis.[50]
In August 2016, Allergan plc sold its generic drugs business to Teva Pharmaceutical Industries in a $40.5 billion deal[51][52] and announced the acquisition of ForSight VISION5 for more than $95 million.[53]
2017-2020
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 during breast augmentation surgery.[70] On December 12, the company announced the acquisition of Repros Therapeutics, a developer of drugs for reproductive system diseases.[71]
In September 2018, Allergan acquired the aesthetic company, Bonti, for $195 million.
Acquisition by AbbVie Inc. (2019-present)
In June 2019, U.S. pharmaceutical company AbbVie 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.
