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News Focus
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DewDiligence

11/17/14 2:46 PM

#183950 RE: DewDiligence #183938

Notably absent from AGN pipeline discussion on today’s CC: bimatoprost for androgenetic alopecia (male/female pattern baldness). This was once considered AGN’s hottest pipeline program, ahead of even DARPin.
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DewDiligence

11/20/14 12:02 PM

#184057 RE: DewDiligence #183938

AGN post-mortem: From 1/1/98 (when David Pyott became CEO) to the buyout by ACT at a nominal price of $219/sh, AGN generated a shareholder return of 3600%, adjusted for splits, dividends, and the spin-off of Advanced Medical Optics* in 2002.

*Now part of ABT.
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DewDiligence

12/25/14 11:07 AM

#185164 RE: DewDiligence #183938

Xmas came early for bankers in ACT-AGN deal:

http://www.wsj.com/articles/BL-MBB-31241

J.P. Morgan Chase & Co. represented Actavis, which swooped in and saved Allergan from a protracted hostile takeover battle with Valeant Pharmaceutical International. For its work, J.P. Morgan’s bankers earned $65 million in fees… That payout…ties the $65 million Morgan Stanley earned for advising Wyeth on its $68 billion sale to Pfizer in 2009.

Meanwhile, Allergan’s bankers, which spent more than six months fighting off Valeant this year, earned $112.2 million in total with Goldman Sachs Group and Bank of America Merrill Lynch each taking home $56.1 million.

DealPoint Data adds together the amounts being paid to each bank to count them as the single largest fee for an M&A target’s advisers in its database.

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DewDiligence

01/26/15 8:42 AM

#186578 RE: DewDiligence #183938

ACT acquires private UK generic-drug firm for £306M ($459M) in cash:

http://finance.yahoo.com/news/actavis-acquire-auden-mckenzie-306m-123000022.html

Actavis plc…and the owners of Auden Mckenzie Holdings Limited…today announced that they have reached a definitive agreement, under which Actavis will acquire Auden Mckenzie for approximately £306 million in cash, plus a two-year royalty on a percentage of gross profits of one of Auden Mckenzie's products.

The $66B AGN deal hasn't even closed yet and ACT is already back in roll-up mode.
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DewDiligence

03/17/15 12:29 PM

#188711 RE: DewDiligence #183938

ACT completes $71B(!) AGN acquisition—adds two independent directors:

http://finance.yahoo.com/news/actavis-completes-allergan-acquisition-125600951.html
http://finance.yahoo.com/news/actavis-announces-michael-r-gallagher-131000312.html

AGN’s CEO, David Pyott, will not join ACT’s BoD.

Reminder: This was third-largest drug/biotech acquisition of all time!