Allergan Continues Board Refreshment Process
DUBLIN, Aug. 29, 2018 /PRNewswire/ -- Allergan plc (NYSE : AGN ) today announced that Paul Bisaro will be retiring from its Board of Directors, as part of the company's ongoing board refreshment process. Mr. Bisaro has served on the board of directors since 2007 when he joined Watson Laboratories as its CEO.
"Paul Bisaro is a transformational leader who created the building blocks necessary to bring this company from a mid-sized U.S. generics company to a global branded pharmaceutical leader. I deeply appreciate Paul's business insight and will miss having him as a board colleague," said Brent Saunders, Allergan's Chairman and Chief Executive Officer.
Commenting on his retirement, Mr. Bisaro said "It has been my honor to work with the many great colleagues over the years as we worked to transform Watson into what it is today: Allergan, a global pharmaceutical innovator in CNS, GI, Medical Aesthetics, Eye Care and other important therapeutic areas. I believe that Allergan continues to be well positioned to create long-term shareholder value and wish the Allergan team and its Board of Directors continued success in the years ahead."
"Paul is an excellent director and leader, and we have been fortunate to have the benefit of his guidance through the transformation of Allergan's businesses. We wish him well and know that the healthcare industry will continue to benefit from his tremendous contributions," said Chris Coughlin, Allergan's Lead Independent Director.
Following the retirement of Mr. Bisaro and the previously announced retirement of Fred G. Weiss and addition of Michael E. Greenberg, PhD, Allergan's Board of Directors will have 11 members of which 10 are independent. The changes bring 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 relevant 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.