fbpx

Allergan says no to Valeant…which comes back with a better offer

 

The Board of Directors at Allergan, the manufacturer of Restasis eye drops, formally rejected the unsolicited takeover bid from Quebec-based Valeant Pharmaceuticals.

 

Allergan says that the $52-billion offer in cash and stock undervalues the company and does not reflect its potential for growth. The Board has targeted a 20% to 25% increase in its earnings per share and expects a strong increase in revenue in 2015.

 

In a letter sent to his counterpart at Valeant, the CEO of Allergan also questioned how Valeant would achieve the level of cost cuts it is proposing without harming the long-term viability of Allergan. Valeant estimates that the acquisition will generate $3.3 billion in operating cost savings as a result of synergies.

 

Far from giving up, Valeant quickly responded, stating that the offer would be increased. The details are to be announced May 28. Furthermore, Pershing Square Capital Management, Valeant’s partner in this purchase offer, hopes to obtain the complete list of Allergan’s shareholders. Valeant would like to organize a “referendum” to determine whether shareholders want to see the two companies negotiate the merger. Valeant could even ask for a special meeting to be held to replace some or all of Allergan’s Board members.


Sources:

http://www.lesaffaires.com/secteurs-d-activite/sante-pharmaceutique-et-biotechnologies/allergan-rejette-l-offre-de-valeant/568801

http://eyewiretoday.com/view.asp?20140512-allergan_rejects_valeant_pharmas_cut_and_slash_takeover

Featured Posts

Optik_may-june 2025 sunglasses article

Summer 2025 Sunglasses: A Fashion-Forward Opportunity for ECPs

Explore 2025’s hottest sunglasses trends—compact cat-eyes, bold lenses, luxury brands—and how ECPs can turn them into sales and style wins.

Learn More
Silmo Paris Concours design optique 2025 logo EN

Optical Design Contest – And the Finalists Are…

Discover the visionary student finalists of the SILMO Paris 2025 Optical Design Contest on the theme “Superhero Glasses.” Winner announced September 26.

Read more
Oakley Axiom Space Artemis III visor image and logo

Engineered for Astronauts: Oakley, Axiom Space Launch Next-Gen Visor System

Oakley and Axiom Space team up to create a next-gen visor system for NASA’s Artemis III mission. Built for lunar exploration, engineered with elite optics.

Read more
May-June Optik 2025 Strength in Synergy Dr Trevor Miranda article

Strength in Synergy: Unlocking Benefits of Optician-Optometrist Collaboration

Discover how collaboration between opticians and optometrists enhances patient care, boosts efficiency, and gives practices a competitive edge.

Read more
Sergio Cereda Design Award logo

Sergio Cereda Eyewear Design Award Expands Globally to the World’s Most Prestigious Eyewear Design Schools

Now global, the Sergio Cereda Eyewear Design Award invites top design students to compete for $10,000 at MIDO 2026. Applications open through Nov 2025.

Read more
Optik_may-june 2025 sunglasses article

Summer 2025 Sunglasses: A Fashion-Forward Opportunity for ECPs

Explore 2025’s hottest sunglasses trends—compact cat-eyes, bold lenses, luxury brands—and how ECPs can turn them into sales and style wins.

Learn More
Silmo Paris Concours design optique 2025 logo EN

Optical Design Contest – And the Finalists Are…

Discover the visionary student finalists of the SILMO Paris 2025 Optical Design Contest on the theme “Superhero Glasses.” Winner announced September 26.

Read More
Oakley Axiom Space Artemis III visor image and logo

Engineered for Astronauts: Oakley, Axiom Space Launch Next-Gen Visor System

Oakley and Axiom Space team up to create a next-gen visor system for NASA’s Artemis III mission. Built for lunar exploration, engineered with elite optics.

Read More
May-June Optik 2025 Strength in Synergy Dr Trevor Miranda article

Strength in Synergy: Unlocking Benefits of Optician-Optometrist Collaboration

Discover how collaboration between opticians and optometrists enhances patient care, boosts efficiency, and gives practices a competitive edge.

Read More
Sergio Cereda Design Award logo

Sergio Cereda Eyewear Design Award Expands Globally to the World’s Most Prestigious Eyewear Design Schools

Now global, the Sergio Cereda Eyewear Design Award invites top design students to compete for $10,000 at MIDO 2026. Applications open through Nov 2025.

Read More
Optik_may-june 2025 sunglasses article

Summer 2025 Sunglasses: A Fashion-Forward Opportunity for ECPs

Explore 2025’s hottest sunglasses trends—compact cat-eyes, bold lenses, luxury brands—and how ECPs can turn them into sales and style wins.

Learn More
Silmo Paris Concours design optique 2025 logo EN

Optical Design Contest – And the Finalists Are…

Discover the visionary student finalists of the SILMO Paris 2025 Optical Design Contest on the theme “Superhero Glasses.” Winner announced September 26.

Read more
Oakley Axiom Space Artemis III visor image and logo

Engineered for Astronauts: Oakley, Axiom Space Launch Next-Gen Visor System

Oakley and Axiom Space team up to create a next-gen visor system for NASA’s Artemis III mission. Built for lunar exploration, engineered with elite optics.

Read more
May-June Optik 2025 Strength in Synergy Dr Trevor Miranda article

Strength in Synergy: Unlocking Benefits of Optician-Optometrist Collaboration

Discover how collaboration between opticians and optometrists enhances patient care, boosts efficiency, and gives practices a competitive edge.

Read more
Sergio Cereda Design Award logo

Sergio Cereda Eyewear Design Award Expands Globally to the World’s Most Prestigious Eyewear Design Schools

Now global, the Sergio Cereda Eyewear Design Award invites top design students to compete for $10,000 at MIDO 2026. Applications open through Nov 2025.

Read more
Optik_may-june 2025 sunglasses article

Summer 2025 Sunglasses: A Fashion-Forward Opportunity for ECPs

Explore 2025’s hottest sunglasses trends—compact cat-eyes, bold lenses, luxury brands—and how ECPs can turn them into sales and style wins.

Learn More
Silmo Paris Concours design optique 2025 logo EN

Optical Design Contest – And the Finalists Are…

Discover the visionary student finalists of the SILMO Paris 2025 Optical Design Contest on the theme “Superhero Glasses.” Winner announced September 26.

Read more
Oakley Axiom Space Artemis III visor image and logo

Engineered for Astronauts: Oakley, Axiom Space Launch Next-Gen Visor System

Oakley and Axiom Space team up to create a next-gen visor system for NASA’s Artemis III mission. Built for lunar exploration, engineered with elite optics.

Read more
May-June Optik 2025 Strength in Synergy Dr Trevor Miranda article

Strength in Synergy: Unlocking Benefits of Optician-Optometrist Collaboration

Discover how collaboration between opticians and optometrists enhances patient care, boosts efficiency, and gives practices a competitive edge.

Read more
Sergio Cereda Design Award logo

Sergio Cereda Eyewear Design Award Expands Globally to the World’s Most Prestigious Eyewear Design Schools

Now global, the Sergio Cereda Eyewear Design Award invites top design students to compete for $10,000 at MIDO 2026. Applications open through Nov 2025.

Read more