Allergan, Inc
 |
|
| Public | |
| Industry | Eye care, neurosciences, medical dermatology, medical aesthetics, breast enhancement, obesity intervention and urologics |
| Fate | Subsidiary |
| Founded | 1948 |
| Headquarters | Irvine, California |
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Area served
|
Over 100 Countries |
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Key people
|
Paul Bisaro, Executive Chairman |
| Revenue | $6.2 billion (2013) |
|
Number of employees
|
11400 (2013) |
| Parent | Allergan, plc |
| Website | www |
Allergan, Inc. was a global pharmaceutical company focused on eye care, neurosciences, medical dermatology, medical aesthetics, breast enhancement, obesity intervention and urologics. Allergan, Inc. was formed in 1948, incorporated in 1950 and became a public company in 1970.
The company traces its routes back to 1948 and pharmacist Gavin S. Herbert, who in 1950 established Allergan Pharmaceuticals, Inc. Allergan focused on the discovery and development of novel formulations for specialty markets, as well as intimate collaboration with physicians and the scientific community. 1953 saw Allergan producing eye drops and formulating new products such as the first cortisone eye drop to treat allergic inflammation and the first ophthalmic steroid decongestant.
Allergan became a publicly-traded company in 1970 and was acquired by SmithKline Beckman for $259 million in 1980. After generating $756 million in revenue and $80 million in profit in 1988, Allergan was spun-off by SmithKline Beckman in 1989.
In July 2002, the Allergan ophthalmic surgical and contact lens care businesses were spun-off to create a new company, Advanced Medical Optics. In 2003, Allergan's flagship product, Botox, was the focus of a high-profile lawsuit and media scrutiny. In March 2006, Allergan acquired Inamed Corporation for $3 billion.
On March 1, 2013, the company acquired MAP Pharmaceuticals Inc., a development-stage company mainly researching the treatment of migraine and other oral drugs in Neurology for approximately $958 million. The principal products of this sub-company are under review with the US Food and Drug Administration (FDA). In December 2013, the company sold its obesity intervention business to Apollo Endosurgery, Inc., for a cash payment of $75 million and a $15 million minority equity interest in Apollo Endosurgery.
In November 2014 Actavis, plc announced its intention to acquire Allergan, Inc., the manufacturer of Botox Completion of the deal would increase its market capitalization to $147 billion. On March 17, 2015, Actavis, plc completed the acquisition of Allergan, Inc. in a cash and equity transaction valued at approximately $70.5 billion. The combination created a $23 billion diversified global pharmaceutical company with commercial reach across 100 countries. In June 2015, Actavis, plc officially changed its name to Allergan, plc.
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