February 17, 2011 |
Pharmaceutical giant Allergan Inc. stands to win big from the federal government's decision to make Lap-Band weight-loss surgery available to more overweight Americans. The Food and Drug Administration on Wednesday cleared the way for marketing the procedure to patients who are significantly less obese than those who qualify now ? a decision that would make an estimated 26.4 million more Americans eligible to consider the Irvine company's device. The approval also means that, according to company officials, 45.6 million Americans meet the criteria for Lap-Band surgery.
October 19, 1997 |
Allergan Inc. and Peptech Ltd. in England have terminated their agreement to develop a psoriasis treatment. Irvine-based Allergan, an eye-care products company, said Peptech has determined that further work is required to assess the optimal treatment regimen for the product, GMDP.
May 8, 2008 |
Allergan Inc.'s net income more than doubled in the first quarter as sales accelerated outside the U.S. for the wrinkle remover Botox. Demand cooled in the U.S., and the company blamed the economy. Net income increased to $111.4 million, or 36 cents a share, from $43.8 million, or 14 cents, a year earlier, the company said. Revenue grew 23% to $1.08 billion, bolstered by converting overseas sales in other currencies to the dollar. Irvine-based Allergan sells cosmetic and medical products including breast implants, surgical devices to remedy obesity and a treatment for overactive bladders.
March 3, 2013 |
The company: Allergan Inc. Headquarters: Irvine Ticker: AGN Employees: 10,800 Leadership: David E.I. Pyott, chief executive since 1998 Revenue: $5.8 billion in 2012 Net income: $1.1 billion in 2012 Stock price: $108.60 at Friday's close 52-week range: $81.28 to $109.31 P/E ratio: 22.8 based on 2013 estimated earnings Annual dividend: 5 cents, a current yield of about...
February 2, 2012 |
Irvine-based Allergan Inc. said it will no longer sell its Lap-Band weight-loss device to companies affiliated with the 1-800-GET-THIN marketing company. The move comes amid state and federal investigations of surgery centers affiliated with the ad campaign. Five Southern California patients have died since 2009 following Lap-Band surgeries at clinics affiliated with 1-800-GET-THIN, according to lawsuits, autopsy reports and other public records. The California Department of Insurance is investigating the surgery centers for alleged insurance fraud, said David Althausen, a spokesman for the state agency.
February 5, 2013 |
Allergan Inc. said it expects to sign a deal to sell its troubled Lap-Band weight-loss unit in the first half of this year as the Irvine company pursues growth from other products and recent acquisitions. The Botox maker, which had previously disclosed it was considering a sale of its "obesity intervention" business, updated investors on that process Tuesday when it announced fourth-quarter results. Allergan said it would consider offers for the weight-loss business and predicted it would sign a sales agreement in the first half of 2013.