Allergan Responds to Public Shareholder Letter

DUBLIN, June 5, 2018 /PRNewswire/ -- Allergan plc (NYSE: AGN) today issued the following statement in response to a public shareholder letter:

Allergan's board of directors and management welcome input from all our shareholders, and take into account their views. Our board and management are committed to creating a world class biopharmaceutical and aesthetics business and driving shareholder returns. The conclusion of our recently completed strategic review is to create a more focused Allergan that concentrates on four therapeutic areas where we have leadership positions and depth and breadth of our products and pipeline, and to pursue a disciplined capital allocation strategy to generate value for shareholders.

Our board has been active and aggressive in board refreshment with three new directors joining our board over the past 16 months, and board refreshment continues to be a top priority. The board also strongly believes in independent leadership as exemplified by the role of Chris Coughlin, our lead independent director, who was chosen as Director of the Year by the National Association of Corporate Directors in 2015. Mr. Coughlin brings over 30 years of biopharmaceutical industry experience to the Allergan board.

Our number one priority continues to be executing on operational excellence and delivering strong results to drive long term shareholder value.

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.

Forward-Looking Statement

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; uncertainty associated with financial projections, projected cost reductions, 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 March 31, 2018. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.

CONTACTS:      

Allergan:  
Investors: 
Daphne Karydas 
(862) 261-8006

Karina Calzadilla 
(862) 261-7328

Media: 
Amy Rose 
(862) 289-3072

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SOURCE Allergan plc