Activist Investors Seek Action At Allergan, But Are They Aligned?
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.
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Chairman/CEO Saunders says the board has determined that keeping him in the dual role is the right move going forward. He added that the company, which had a strong second quarter, won’t be rushed in its efforts to divest its women’s health and infectious disease units.
The European Medicines Agency’s pharmacovigilance committee has recommended more restrictions on the use of Richter’s Esmya because of concerns over the risk of serious liver damage.
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.