Healthcare Industry News: Allergan
News Release - September 25, 2017
Allergan Announces Tessa Hilado, Executive Vice President and Chief Financial Officer, to Retire from CompanyDUBLIN, Ireland, Sept. 25, 2017 --(Healthcare Sales & Marketing Network) --Allergan plc (NYSE: AGN) a leading global biopharmaceutical company, today announced that Tessa Hilado, Executive Vice President and Chief Financial Officer, has decided to retire from Allergan.
"When I joined Allergan in December 2014, I promised Brent Saunders, Chairman and CEO, that I would stay three years to help transform the finance organization, institute better systems and financial controls and improve the balance sheet," said Hilado. "I am proud of the improvements we have made in each of these areas and the talent that we have attracted to our finance organization over that time, including new leaders for Commercial Finance, Tax, Research & Development Finance and Investor Relations & Strategy. Now is a good time to announce my retirement from Allergan so that we have time to identify my successor and orchestrate a smooth hand-off to continue Allergan's progress."
"Tessa has led a successful transformation of our finance organization, and accomplished a great deal during her time at Allergan. We completed and financed the acquisition of Allergan, divested our global generics business to Teva, steadily paid down debt, refinanced debt at a lower interest rate and completed actions to return cash to shareholders by instituting our first dividend and completing $15 billion in stock repurchases, including a $10 billion accelerated stock purchase," said Brent Saunders, Chairman and Chief Executive Officer of Allergan. "Personally and professionally I will miss working with Tessa and I'm appreciative of her dedication to Allergan in ensuring a smooth and seamless transition to her successor."
The Company has initiated a search to fill the position. Ms. Hilado will continue in her current role until a successor is named to ensure a smooth transition.
About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical company and a leader in a new industry model – Growth Pharma. Allergan is focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world.
Allergan markets a portfolio of leading brands and best-in-class products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories.
Allergan is an industry leader in Open Science, a model of research and development, which defines our approach to identifying and developing game-changing ideas and innovation for better patient care. With this approach, Allergan has built one of the broadest development pipelines in the pharmaceutical industry with 65+ mid-to-late stage pipeline programs currently in development.
Allergan's success is powered by our more than 18,000 global colleagues' commitment to being Bold for Life. Together, we build bridges, power ideas, act fast and drive results for our customers and patients around the world by always doing what is right.
With commercial operations in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives every day.
For more information, visit Allergan's website at www.Allergan.com.
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Allergan's current perspective on existing trends and information as of the date of this release. Actual results may differ materially from Allergan's current expectations depending upon a number of factors affecting Allergan's business. These factors include, among others, the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; market acceptance of and continued demand for Allergan's products; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Allergan's periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan's Annual Report on Form 10-K for the year ended December 31, 2016 and Allergan's Quarterly Report on Form 10-Q for the period ended June 30, 2017. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
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