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Allergan Inc. (AGN)

- NYSE
  • Mon, May 4, 1:09 PM
    • New York, NY-based Anterios (Pending:ANTE) is set for its IPO of 3.9M shares of common stock at $12 - 14.
    • The clinical stage biopharmaceutical firm develops botulinum products for therapeutic and aesthetic applications. Botulinum toxin type A (botulinum) is currently almost a $3B global market, led by Allergan's (AGN) Botox.
    • The firm's lead product candidate is the Phase 2-stage ANT-1207, a topical formulation of botulinum for the treatment of primary axillary hyperhidrosis (excessive underarm sweating), facial acne and lateral canthal lines (crow's feet wrinkles). Its second candidate is AI-09, an injectable botulinum that will be packaged as a ready-to-use liquid. Currently available injectable botulinum products are lyophilized which require reconstitution prior to use.
    • 2014 Financials ($M): Operating Expenses: 5.7 (+50.3%); Net Loss: (5.7) (-34.1%); Cash Burn: (4.8) (-48.8%).
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  • Fri, Apr. 24, 3:52 PM
    • Burlington, MA-based CoLucid Pharmaceuticals (Pending:CLCD) is set for its IPO of 5.36M shares of common stock at $13 - 15.
    • The clinical stage biopharmaceutical firm is developing a small molecule for the acute treatment of migraine headaches. Lasmiditan, currently in Phase 3 development in an oral tablet form, is a 5-HT1F receptor agonist that blocks the pain transmission without the side effects of the class of migraine therapies called triptans. The 5-HT1F receptor is a serotonin subtype that lacks the vasoconstrictive properties of other serotonin receptors, which can cause adverse cardiac events in patients with cardiovascular or cerebrovascular disease. Top-line data from a Phase 3 study, called SAMURAI, is expected in Q3 2016. A second Phase 3 evaluating an IV formulation of lasmiditan should commence in H1 2016.
    • The company licensed lasmiditan from Eli Lilly.
    • 2014 financials ($M): Operating expenses: 2.3 (+43.8%); Net Loss: (3.0) (-34.6%); CF Ops: (0.8) (+49.3%).
    • Migraine-related tickers: (OFIX +0.4%)(TEVA +1.8%)(AVNR)(RDHL +0.5%)(PTX -3%)(ALDR -0.8%)(ENDP -0.8%)(JNJ +0.6%)(AMGN -0.7%)(DEPO +1.2%)(AGN)
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  • Tue, Mar. 17, 10:10 AM
    • Actavis (ACT) completes its acquisition of Botox-maker Allergan (AGN) in a cash-and-stock transaction valued at $70.5B. The combined organization should generate more than $23B in revenues this year, ranking it in the global top 10 pharma companies.
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  • Tue, Mar. 10, 3:29 PM
    • As expected, a majority of Allergan's (AGN -0.8%) shareholders voted in favor of being acquired by Actavis (ACT -1.9%) at this morning's special meeting. The current value of the cash-and-stock transaction is $70.7B.
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  • Wed, Mar. 4, 2:25 AM
    • Actavis (NYSE:ACT) sold the second-biggest corporate-bond offering in history yesterday, with a $21B deal fueled by investors' desire for income-generating investments when yields on government debt remain low.
    • The giant sale comes as companies this year sell debt at the fastest pace on record, extending a multi-year boom that has financed a flurry of deal making and stock buybacks.
    • Actavis plans to use the money for its $66B acquisition of Botox maker Allergan (NYSE:AGN).
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  • Fri, Feb. 27, 10:28 AM
    • The FDA approves Allergan's (AGN +0.1%) Natrelle Inspira round gel-filled smooth breast implant. The product has a higher fill ratio which provides an additional shaping option for women undergoing reconstruction, augmentation or revision surgery.
    • Allergan acquired the breast implant business via its buyout of Inamed in 2005.
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  • Wed, Feb. 25, 1:02 PM
    • The FDA's General and Plastic Surgery Devices Panel of the Medical Devices Advisory Committee meets on Friday, February 27 to discuss the premarket approval application (PMA) from Merz Aesthetics seeking approval for the use of its Radiesse dermal filler to include subdermal implantation for hand augmentation to correct volume deficit in the hands.
    • Radiesse is currently cleared for subdermal implantation for the correction of moderate-to-severe facial wrinkles and folds, such as nasolabial folds, and subdermal implantation for restorative and/or correction of the signs of facial fat loss (lipoatrophy) in people infected with HIV.
    • Executive Summary, Panel Questions, Voting Questions Agenda 
    • Related tickers: (NYSE:AGN) (NYSE:ACT)
    | 1 Comment
  • Tue, Feb. 24, 12:44 PM
    • Allergan (AGN +0.3%) head honcho David Pyott could pocket as much as $100M if he is terminated following the close of the Actavis (ACT -1.2%) transaction. The golden parachute would include ~$89M in cash and stock that he would receive in exchange for not-yet-vested equity awards, ~$9.9M in cash and $2M for accrued pension and health benefits. Mr. Pyott would be eligible for the payouts if Actavis decides not to retain him. This appears likely since Actavis CEO Brent Saunders will lead the combined company.
    • In a relative sense, the package is fairly standard, even modest, for executives in this situation. When ex-GE division head Bob Nardelli exited Home Depot after only a short time at the helm, he pocketed $223M.
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  • Mon, Feb. 23, 12:07 PM
    • Among the additions to the index (which fuels the IBLN ETF) are EMC, Google (GOOG, GOOGL), Goodyear (NASDAQ:GT), Mohawk Industries (NYSE:MHK), PVH, Time Warner (NYSE:TWX), and Yahoo (NASDAQ:YHOO). There are three health care additions as well: Allergan (NYSE:AGN), Amgen (NASDAQ:AMGN), and HCA. The lone energy name added is Consol Energy (NYSE:CNX).
    • Exiting the index are energy names Halliburton (NYSE:HAL) and National-Oilwell Varco (NYSE:NOV), along with healthcare companies AbbVie (NYSE:ABBV), Aetna (NYSE:AET), Humana (NYSE:HUM), and Tenet Healthcare (NYSE:THC). Citigroup (NYSE:C), CBS, Crown Castle (NYSE:CCI), and Michael Kors (NYSE:KORS) round out those subtracted.
    • IBLN tracks the highest-conviction S&P 500 picks by hot-handed billionaires who built their fortunes through hedge funds and investing. The list of billionaires tracked is updated each October, and the equity components are rebalanced each quarter after sifting through regulatory filings.
    • IBillionaire Index Rebalance
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  • Thu, Feb. 19, 12:55 PM
    • Actavis (ACT +1.6%) commences concurrent public offerings of $4.2B of common stock and $4.2B of Mandatory Series A Convertible Preferred Shares. Net proceeds will assist in funding its acquisition of Allergan (AGN +0.5%). Underwriters over-allotments are 10% of the number of shares in each offering. Terms and pricing have yet to be announced.
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  • Wed, Feb. 18, 8:53 AM
    • When it finishes its takeover of Botox-maker Allergan (NYSE:AGN), Actavis (NYSE:ACT) says it will adopt Allergan's name after securing shareholder approval and completing the deal later this year.
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  • Fri, Feb. 13, 7:22 PM
    • Dan Loeb added new stakes in Citigroup (NYSE:C), Alibaba (NYSE:BABA), AIG, EMC and Allergan (NYSE:AGN) in the fourth quarter as the latest 13F from his Third Point fund indicates.
    • The Alibaba addition of 2.8M shares to an existing 7.2M-share position brings Third Point to 10M shares. A new Citigroup position is 25M shares.
    • Meanwhile, a 400K-share stake in Allergan is a new position, as is 7M shares in EMC and 3.5M shares of AIG.
    • Loeb also unloaded a 750K-share position in FedEx (NYSE:FDX).
    • Overall Third Point increased the value of equity holdings 27%, to $11.09B.
    • After hours: BABA -0.5%; AGN +0.5%.
    | 37 Comments
  • Fri, Feb. 6, 9:20 AM
    • According to some observers, Pfizer's (NYSE:PFE) $17B takeout of Hospira (NYSE:HSP) is only a prelude to a bigger deal(s) considering that it was prepared to spend $120B for AstraZeneca (NYSE:AZN).
    • According to Gabelli analyst Kevin Kedra, Actavis Plc (NYSE:ACT) is an attractive target, especially since nabbing Allergan (NYSE:AGN) and its fast-growing drug portfolio. A Pfizer takeover would be big enough to overcome the U.S. Treasury's stricter rules on inversions and lower its tax bill.
    • John Boris of SunTrust Banks says GlaxoSmithKline (NYSE:GSK), AbbVie (NYSE:ABBV), Bristol-Myers Squibb (NYSE:BMY) and Mylan (NASDAQ:MYL) may be on the radar as well.
    • Pfizer had $33B in cash at the end of September which it will use a portion of plus debt to pay for Hospira.
    | 6 Comments
  • Wed, Feb. 4, 5:02 PM
    • Allergan (NYSE:AGN) Q4 results ($M): Revenues: 1,910.5 (+13.4%); Operating Income: 626.7 (+37.8%); Net Income: 539.1 (+72.6%); EPS: 1.76 (+69.2%); Quick Assets: 4,966.4 (+36.1%).
    • Eye Care Pharmaceuticals: 881.7 (+12.7%); Botox/Neutomodulators: 589.3 (+12.1%); Skin Care & Other: 135.7 (+11.3%); Breast Aesthetics: 99.5 (+11.0%); Facial Aesthetics: 174.2 (+27.0%); Total Medical Devices: 282.3 (+22.8%).
    • Key Product Sales: Alphagan P/Alphagan/Combigan: 138.5 (+10.9%); Lumigan Franchise: 177.3 (+2.7%); Total Glaucoma: 317.7 (6.0%); Restasis: 309.4 (+11.5%); Latisse: 27.4 (+17.1%).
    • No guidance provided.
    | 3 Comments
  • Wed, Feb. 4, 4:54 PM
    • Allergan (NYSE:AGN) declares $0.05/share quarterly dividend, in line with previous.
    • Forward yield 0.09%
    • Payable March 20; for shareholders of record Feb. 9; ex-div Feb. 5.
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  • Wed, Feb. 4, 4:42 PM
    • Allergan (NYSE:AGN): Q4 EPS of $2.17 beats by $0.34.
    • Revenue of $1.91B (+13.7% Y/Y) beats by $10M.
    • Press Release
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Company Description
Allergan Inc is a multi-specialty health care company develops and commercializes pharmaceuticals, biologics and medical devicesand over-the-counter products. It offers products forophthalmic, neurological, medical aesthetics and medical dermatology.