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Allergan publishes customer support letters following rejection of Valeant proposal
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Allergan received more than 500 letters from its physician customers, as well as from various patient advocacy groups and medical associations, in support of its decision to reject Valeant Pharmaceutical’s unsolicited proposal to acquire the company, according to a press release.
“All of us at Allergan are deeply touched that our customers have taken the time to write to tell us that our work has mattered to them and their patients, and to publicly share their support and encouragement for our company’s business model and our promising future,” David E.I. Pyott, Allergan’s chairman of the board and CEO, said in the release.
In a previous statement, Allergan’s board of directors unanimously stated that Valeant’s acquisition-based strategy was not in the best interest of its company and stockholders.
Allergan expects earnings to increase 20% to 25% per share and produce double-digit revenue growth in 2015, according to the release.
Some of the letters from Allergan supporters can be found online at www.allergan.com under the “Our Customers” section.