Healthcare Industry News: Allergan
News Release - August 8, 2018
Allergan Appoints Neurobiology Expert Michael E. Greenberg, PhD to its Board of Directors as Part of Active Board Refreshment ProcessFive New Board Members Added in Last 18 Months
Director Fred G. Weiss to Retire from Allergan Board
DUBLIN, Aug. 8, 2018 -- (Healthcare Sales & Marketing Network) -- Allergan plc (NYSE: AGN) today announced that Michael E. Greenberg, PhD will join its Board of Directors effective immediately, as part of the company's ongoing board refreshment process. Dr. Greenberg is the Nathan Marsh Pusey Professor of Neurobiology at Harvard University and the Co-Lead of the Allen Discovery Center for Human Brain Evolution at Harvard Medical School. He brings a nearly 35-year track record of groundbreaking scientific discoveries in neurobiology to Allergan's Board.
"With our focus on central nervous system therapies and our goal of harnessing the best science from across the innovation ecosystem, Dr. Michael Greenberg will be a great addition to our Board," said Brent L. Saunders, Chairman and Chief Executive Officer at Allergan. "Dr. Greenberg's findings have expanded the understanding of the molecular basis of the major events in neural development, the neural responses to injury and disease and the potential for treatment. His scientific leadership and impeccable background of discovery in neurobiology and academic medicine make him a highly valuable addition to the Allergan Board of Directors."
"The appointment of Dr. Greenberg, who joins the Allergan Board as the fifth new Director in 18 months, demonstrates our ongoing commitment to recruit highly qualified leaders with relevant skills and experience that will help us advance our strategy and leadership in key therapeutic areas," said Chris Coughlin, Lead Independent Director. "The Allergan Board has been actively involved in a refreshment process to update its membership with the appropriate experience, talent and diversity to more strongly position Allergan as a premier biopharmaceutical company and create value for shareholders."
Dr. Greenberg has been Harvard University's Nathan Marsh Pusey Professor of Neurobiology since 2008. He has been a Co-Leader of Harvard Medical School's Allen Discovery Center for Human Brain Evolution since 2017 and Chair of the Department of Neurobiology since 2008. He was also Founding Director of the F.M. Kirby Neurobiology Center, Children's Hospital Boston, where he continues to serve as director. Prior to that he was a Professor in the Department of Microbiology & Molecular Genetics at Harvard Medical School.
In the 1980's, Dr. Greenberg made a series of landmark discoveries that demonstrated that neural activity activates gene transcription, a now central tenet of neurobiology. In 2001, Greenberg and his team uncovered how a particular calcium channel leads to the expression of genes important for learning and memory, as well as for the survival of the neuron itself.
"I am proud to join Allergan's Board as the company focuses more resources on cutting edge science, especially in neuroscience," said Dr. Greenberg. "I look forward to working with Allergan's Board and management team, as well as its R&D leaders to help enhance the company's world-class R&D capabilities and industry-leading pipeline, and ensure the company delivers long-term value."
Dr. Greenberg earned his Doctor of Philosophy from Rockefeller University and a Bachelor of Arts degree from Wesleyan University. He completed his post-doctoral fellowship at New York University Medical Center. He currently serves on the Scientific Advisory Board of Decibel Therapeutics.
In addition, Fred G. Weiss will retire from the Allergan Board of Directors effective October 2018. Mr. Weiss joined the Board of Directors in 2000 and is the company's longest serving board member. Mr. Weiss is the chair of Allergan's Audit & Compliance Committee and a member of the Nominating & Corporate Governance Committee.
In congratulating Mr. Weiss on his retirement, Allergan Board of Directors Nominating and Corporate Governance Committee Chair Chris Bodine said, "Fred Weiss has been a brilliant, solid and reliable stalwart on our board dating back to Watson Pharmaceuticals. On behalf of the Board of Directors, I thank Fred for his long-standing service to Allergan for nearly two decades. His leadership of the Audit Committee has been remarkable, and the board will miss his many excellent contributions."
Following the retirement of Mr. Weiss and the addition of Dr. Greenberg, Allergan's Board of Directors will continue to have 12 members of which 10 are independent. The addition of Dr. Greenberg brings the average tenure of Allergan's Board of Directors to less than 5 years and demonstrates an effective refreshment process resulting in a balanced mix of backgrounds and fresh perspectives.
About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical leader. 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.
Allergan's success is powered by our 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; the impact of uncertainty around timing of generic entry related to key products, including RESTASIS®, on our financial results; risks associated with divestitures, acquisitions, mergers and joint ventures; uncertainty associated with financial projections, projected cost reductions, projected debt reduction, projected synergies, restructurings, increased costs, and adverse tax consequences; 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, 2017 and Allergan's Quarterly Report on Form 10-Q for the period ended June 30, 2018. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
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