Allergan PLC (NYSE:AGN) CEO Brent Saunders told Bloomberg Tuesday that his company does not intend to let go of its generics drug business, despite being advised by several investment bankers to do so. He maintained that Allergan’s generic drugs unit compliments its brand-name drugs business, and letting go of one would affect the other.
“It’s a value-creating enterprise,” Mr. Saunders said, adding: “It fits very nicely with our branded portfolio, providing us with better expertise and formulation science and understanding of intellectual property...If in the future, for some reason we didn’t think that was providing value to the entire enterprise, we’d certainly be open to doing something...But today that’s an absolute non-starter for us.”
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