Allergan plc history

Next, came the eye drops in 1953.

In 1957, Gavin Herbert, Jr. was discharged, and Allergan sales had reached $100,000.

A key element of that plan was the advent of Allergan's first national product, Prednefrin, a corticosteroid launched in 1958.

By 1960 Allergan was a million-dollar company and the company moved its operations to a 30,000-square-foot plant in Santa Ana, California.

By 1962 Allergan was a million-dollar company and the company moved its operations to a 30,000-square-foot plant in Santa Ana, California.

Allergan began to develop a global outlook in 1964, when it created its first foreign distributorships in Puerto Rico and Iraq.

In 1965 Allergan established its first foreign subsidiary in Canada.

Toward the realization of that plan, Allergan purchased 24 acres from the Irvine Ranch Company and, in 1968, built its Von Karman production facility on that site.

Eye care products were the company’s primary focus before it went public in 1970.

In 1971, Allergan went public, erecting its first office building in Irvine, California.

Allergan’s two lens products were Hydrocare (introduced in 1974) and its enzymatic cleaner.

In 1978 Gavin Herbert, Sr., Allergan’s cofounder and chairman, died.

The other predecessor of the current company traces its roots back to 1983 when colleagues Allen Chao and David Hsia formed Watson Pharmaceuticals, a drug development enterprise.

In 1984, according to Industry Week, 120 million Americans suffered from a vision problem, but only 12 percent wore soft contact lenses.

By 1987, the $500 million contact lens care market was growing at about 20 to 25 percent annually, and Allergan and its competitors were locked in fierce competition.

1988: Allergan acquires the rights to Botox.

In 1990 Allergan was close to a billion-dollar company, but its stock had fallen from $25 (at the time of its spinoff) to $15 a share.

In 1991, Allergan acquired the company Oculinum, which manufactured products for eye muscle disorders.

Allergan’s shareholders, however, passed what became one of the first successful shareholder solicitations by a slight majority (52 percent) at the April 1993 annual meeting.

In 1994 Allergan acquired the Ioptex Research global intraocular lens product line.

Among the 1995 acquisitions were Optical Micro Systems, Inc., a maker of cataract surgery equipment; Laboratorios Frumtost, S.A., a Brazilian manufacturer of ophthalmic and other pharmaceutical products; and the worldwide contact lens care product operations of Pilkington Barnes Hind.

Near Merger with Pharmacia & Upjohn in 1996

In 1997 Allergan expanded its burgeoning skin care line through the FDA approval of Tazorac for the treatment of plaque psoriasis and acne.

Greene, Jay, “Allergan’s Botox, Made from Toxin, Used to Fight Wrinkles,” Orange County (Calif.) Register, February 16, 1998.

In April 1999 a seemingly revitalized Allergan announced a $70 million expansion of its R&D campus at the Irvine headquarters and the addition of 300 new research scientists and other professionals.

With more than 17 000 employees, Allergan Plc is considered one of the top 2000 largest public companies in the world, according to Forbes.

A much more significant deal occurred in June 2002 when the company spun off its ophthalmic surgical and contact lens care unit to shareholders, creating a newly independent, public company called Advanced Medical Optics, Inc.

The expansion was slated for completion in 2004.

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Allergan acquired the Seri Scaffold technology when it purchased its original maker Serica in 2010.

Reuters. (2011, April 28). Jury orders Allergan to pay $212 million in Botox case.

On October 31, 2012, Watson acquired Actavis for €4.25 billion and took the Actavis name.

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The Associated Press. (2015, April 14). Botox maker sued over Vermont woman’s death.

In August 3, 2016, the major subsidiary, ‘Anda Inc’ was sold to Teva Pharmaceutical Limited.

2017 Botox revenues reached $2.2 billion.

Ramsey, L. (2018, June 2). How Allergan went from a tiny but beloved Southern California eye care company to a dealmaking machine to falling out of grace with investors.

On May 8, 2020, the United States pharmaceutical company AbbVie acquired Allergan for $63 billion, and return Allergan to the United States for tax purposes.