Allergan CEO: We Are Looking at All Options to Create Shareholder Value - (TheStreet via NewsPoints Desk)

  • Allergan CEO Brent Saunders said the drugmaker would evaluate all options in an effort to create shareholder value, TheStreet reported Thursday.

  • In response to reports that Mylan and Revance Therapeutics have teamed to develop a biosimilar version of Botox, the CEO cautioned that the process would be difficult.

  • Saunders noted that Botox was developed using a "complex proprietary manufacturing process that's been developed over 30 years," adding that it would be "would be very difficult, if not almost impossible, for someone to replicate that."

  • Conversely, Mizuho Securities analyst Irina Koffler suggested that Allergan "must now prepare for the prospect of a viable global biosimilar, and make pre-emptive plans to diversify its business into other verticals rather than focus primarily on its international cosmetic build-out., adding that the drugmaker "may now be pressured to pursue transformative transactions."

  • "We are going to look at every idea," Saunders stated, continuing "we're going to consider every option and we're going to see if there are opportunities to create value and we're going to do that with a sense of urgency."

  • Meanwhile, a number of prominent investors have increased their holdings in Allergan, suggesting that they could soon press the drugmaker to pursue deals.

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