Allergan Shifts Restasis Patents To Native American Tribe To Invoke Immunity From IPR
The tribe will move to get IPR proceedings dismissed, but the strategy isn't expected to affect ANDA litigation. Allergan's CEO said the company could use a similar approach with other patents and notes that other companies may follow.
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Allergan was expected to announce soon that it would follow its shareholders' advice and split the company in two, but it's being acquired by AbbVie for $63bn instead, finally giving investors a big boost in their Allergan holdings after years of decline.
Investors want to separate the CEO and chairman roles held by Brent Saunders, among other demands, but it's unclear whether new investor Carl Icahn – a prior Saunders supporter – will pursue the same causes.
Financials are holding up well despite generics launching against multiple Allergan products, but with stock price falling the company is conducting a strategic review to make sure it isn't missing out on any alternative business strategies that could boost the enterprise's value.