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No Fire Sale: Allergan May Sell Women’s Health, Infectious Disease Units

 
• By Joseph Haas

Admitting these two areas are relatively small portions of Allergan overall, CEO Brent Saunders says it’s not yet time to consider a company split that would break off the Botox-centered aesthetic medicine portfolio as a separate business.

Businessman draws a statistical trend line

The result of Allergan PLC’s board-directed strategic review is a plan to divest its women’s health and infectious disease units – narrowing the company's focus to four primary therapeutic areas – but it isn’t time yet to consider splitting off aesthetics into a separate business, CEO Brent Saunders said May 30.

Saunders stressed that Allergan does not need to sell off any business segments and is not undertaking a fire sale – despite recent investor sentiment to “do something” to improve the Dublin-headquartered firm’s market value – in remarks during the Bernstein Strategic Decisions CEO Conference. The executive said during Allergan’s first quarter earnings call April 30 that an ongoing strategic review would consider five options: staying the current course, divestitures, a corporate split, aggressive share buybacks or mergers and acquisitions

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