Healthcare Industry News: Allergan Medical
News Release - October 5, 2006
Allergan Integrates Inamed's Commercial and Research and Development Operations within New Corporate Division, Allergan MedicalIRVINE, Calif.--(HSMN NewsFeed)--Allergan, Inc. (NYSE:AGN ) today announced it has completed the integration of Inamed's commercial and research and development operations, uniting the companies' facial aesthetics, breast aesthetics and obesity intervention product portfolios under the Allergan name and within a newly established corporate division, Allergan Medical.
"Unifying Inamed's assets and resources under the Allergan name will enable us to maximize our combined strengths and move forward as one company with one vision for the future," said David E.I. Pyott, Allergan's Chairman of the Board and Chief Executive Officer. "The swift and seamless integration of Inamed is a testament to the talent and expertise of the combined companies and to our Science of Rejuvenation and Wellness(TM) leadership."
Allergan's key franchises in neurosciences, ophthalmology and dermatology remain structured under the company's core pharmaceutical business portfolio, while Allergan's existing aesthetics franchise, including BOTOX® Cosmetic (Botulinum Toxin Type A), has been aligned within Allergan Medical along with the former Inamed Aesthetics product portfolio, which includes hyaluronic acid and collagen-based dermal fillers and breast implants. Allergan Medical also encompasses the former Inamed Health product portfolio, including the BioEnterics® LAP-BAND® adjustable gastric banding system, a market-leading, minimally invasive surgical device used to treat obesity -- considered the most prevalent epidemic in the U.S. today and a public health crisis throughout the world.
While Allergan's headquarters remain in Irvine, CA, the company is retaining a presence in Santa Barbara, CA, where it will maintain a national center of excellence focused on medical aesthetics research and development, customer and patient service, and quality assurance. Internationally, Allergan is integrating the Inamed businesses into Allergan's existing structure to generate maximum synergies and opportunities with the VISTABEL® product, the brand name for BOTOX® Cosmetic in Europe, and to create effective and streamlined customer focus.
"Within Allergan Medical we are committed to being the leading global health care company offering customers and patients a broad and complementary portfolio of innovative products that meet the highest standards of quality, safety and efficacy, to help patients improve their quality of life and achieve wellness and rejuvenation," said Robert Grant, Allergan's Corporate Vice President and President of Allergan Medical. "It's a very exciting time as we are launching our next generation dermal filler, JUVEDERM(TM), which recently has been approved by the U.S. Food and Drug Administration and is the first product resulting from the combined companies' pipeline. This milestone stems from combining the strengths of both companies and further demonstrates our strategic pathway for long-term success."
About Allergan Medical
Allergan Medical, a division of Allergan, Inc., offers the most comprehensive, science-based, aesthetic product offerings under its Total Facial Rejuvenation(TM) portfolio, including BOTOX® Cosmetic; hyaluronic acid and collagen-based dermal fillers; and physician-dispensed skin care products. Allergan Medical also offers the industry's widest range of breast implant options for reconstructive and aesthetic breast surgery, and leading minimally invasive devices for obesity intervention treatment.
About Allergan, Inc.
With more than 55 years of experience providing high-quality, science-based products, Allergan, Inc., with headquarters in Irvine, California, discovers, develops and commercializes products in the ophthalmology, neurosciences, medical dermatology, medical aesthetics, obesity intervention and other specialty markets that deliver value to its customers, satisfy unmet medical needs, and improve patients' lives.
This press release contains "forward-looking statements", including the statements by David E.I. Pyott, Robert Grant, and other statements regarding the completion of Inamed's integration within a newly established corporate division, Allergan Medical. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Allergan's expectations and projections. Risks and uncertainties include, among other things, general industry and medical device market conditions; technological advances and patents attained by competitors; challenges inherent in the research and development and regulatory processes; challenges related to new product marketing, such as the unpredictability of market acceptance for new medical device products and/or the acceptance of product line extensions of such products; the potential for product failures; potential difficulties in manufacturing new products; and governmental laws and regulations affecting domestic and foreign operations. Additional information concerning these and other risk factors can be found in press releases issued by Allergan, as well as Allergan's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading "Risk Factors" in Allergan's Form 10-K for fiscal year 2005 and Allergan's Form 10-Q for the quarter ended June 30, 2006. Copies of Allergan's press releases and additional information about Allergan are available on the World Wide Web at www.allergan.com or you can contact the Allergan Investor Relations Department by calling 1-714-246-4636.
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