Allergan Plc said on Thursday former Abbott Laboratories executive Thomas Freyman will join its board, a week after two of its shareholders criticized the drugmaker’s acquisition strategy and board composition.
Allergan, whose director Patrick O’Sullivan will retire from the board in July, said its board will continue to have 12 members of which 10 are independent, following the changes.
Freyman, who retired from Abbott in 2017, most recently served as executive vice president, finance and administration for the company since June 2015.
Last week, two of Allergan’s shareholders, hedge funds Appaloosa Management and Senator Investment Group, asked the drugmaker’s board to split the role of chief executive officer and chairman as well as reconsider its acquisition strategy.
By Ankur Banerjee
Source: Reuters
The new company will have four complementary businesses: Perfumery & Beauty, Food & Beverage/Taste & Beyond, Health, Nutrition & Care and Animal Nutrition & Health, each with strong market positions and expertise to address emerging consumer trends. The businesses will also prioritize environmental sustainability, health and well-being.
Merck (MSD) has signed a definitive agreement for the acquisition of all outstanding shares of Imago BioSciences for a total equity price of nearly $1.35bn. A clinical-stage biopharmaceutical firm, Imago focuses on the development of new therapies to treat myeloproliferative neoplasms (MPNs) and other bone marrow ailments.
Danish pharma Novo Nordisk has announced plans to invest 5.4 billion Danish kroner to expand its existing facilities in Bagsværd. The project will establish extra R&D capacity for manufacturing APIs to supply the company’s global clinical trials for oral and injectable products. The expansion is expected to be finished in 2024, creating about 160 new jobs.
